Pennymac

Passing my experience as often and as far as I can. I want to share my disappointment with as many as possible. I am facing a foreclosure sale in less than 3 weeks. And yes, I have fallen far behind on my mortgage. I takeownership of that. However, the cause for this has been because of the last administration's failed economy, inflation and outrageous interest rates. Throughout all of this chaos my wife and I have had to take out loans, pawn everything we've owned of value, and made minimum and late payments on essentials like our utility bills. All in order to afford some medical payments and keeping food on the table.
We have attempted to do a loan modification, but since other creditors chose not to follow through on our requests for canceling autopays we ended up without the monet to make our mortgage payment as arranged. Part of the loan modification was an increase of our mortgage amount. Hardly a move to assist us on retaining our property. So now we have contacted Pennymac and their response is to pay around $52k to reinstate or give up the home.
I have begged for forbearance to get other bills out of the way and get back on track, but to no avail. And even though Public Law 119-31 was signed in at the end of July, nobody knows how to implement it. I have contacted the servicer, my loan specialist at the VA, I have written my congressman and the president requesting that this law, intended to protect veterans with VA guaranteed home loans, gets finalized part of this law is a partial claims program and another part is forbearance. However, nobody knows a damned thing about hiw it works and are unwilling to follow up to see how this will help.
I am a veteran, my wife and I are senior citizens living on meager social security payments. And despite government efforts to reign in the economy, we struggle.
I have filed a complaint on the BBB about this, and their response has been that they tried to work with us. But they only tried to raise our payments. I just would like them to get past their computer generated spreadsheet demands and start acting human again. Realize that soon enough the law will come into play, they will receive their payments bringing things current and be happy knowing that they have avoided the further distress to a senior couple just wanting to maintain their happy home.

We attempted to apply for a PennyMac Home Loan refinance. We went through all the hoops providing more financial information that was necessary when we first secured our VA loan. This company representative claimed that the loan process was in the final stages of completion. Approximately two and a half weeks later my wife called inquiring as to our loan status to find out it was disapproved. They called us to ensure that we made a mortgage payment prior to the due date, which they've never done in the past. That was the last contact we had from them, which was about two weeks prior to my wife's phone call. No one ever contacted us as all the primary representatives were on holiday vacation. I would seriously disregard any attempt to do business with this company. In my opinion, they are less than professional and, as most mortgage lenders are, out to make the most money possible. I would recommend to all veterans and potential military home buyers to search elsewhere and do your groundwork to identify the reputation of any mortgage company and especially what they're charging you for their services.

Dept makes a negative judgement concerning escrow deletion. They will not talk with client, so I must communicate in relay conversation with whatever customer rep I get in each call! Disgusting.