Resolved: Bayview Loan Servicing - 14 months for a modification that isn't worth the paper it's printed on
I started a modification back in Dec 2015 so starting Jan 2016 I was in my three month trial, I made the payments on time but the monthly statement from CENLAR when I called with my concern that my mortgage statement was showing nothing was paid. I was told by Bayview not to worry, once the mod was complete the funds would be applied to the loan.
It took from Dec 2015 to Feb 2017 for the mod to finally be complete. In the mod it showed my principal was $249 less that it was 14 months ago. I called bayview and they told me the funds hasn't been applied yet, how do you give me an agreement that shows the principal owed,the interest rate and the monthly payment but the funds hasn't been applied to the loan yet? In that 14 month period I paid $24,235.92 and none of that has been applied yet?
On top of that the new mod was for 40 years lets see my original loan was for 30 yrs and I had paid on it for like 7 years now to get a mod that would save me $271 a month and *** near double the time I have to pay on a mortgage that I wasn't struggling to pay in the first place . I'll go for that alright, right after bats fly out my butt.
Reason of review: Problems with payment.
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