Mortgage -- Struggling to pay mortgage -- Complaint #5590302
Complaint Overview
Complaint ID: 5590302
Company: Flagstar Bank, N.A.
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Struggling to pay mortgage
State: California
ZIP Code: 95747
Date Received: 2022-05-22T12:00:00-05:00
Date Sent to Company: 2022-05-22T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
We entered into a Cares Act mortgage forbearance in XXXX with Flagstar Bank. Our forbearance time was up in XX/XX/XXXX. I contacted XXXX in XX/XX/XXXX and let them know we couldnt make the current mortgage payments and wanted them to reduce our payments as per the Cares Act. They didnt respond to me until XXXX of XXXX. I called multiple times between XX/XX/XXXX and XX/XX/XXXX to check in because I was told it would only be 30 days to get a response. Each time I was given a different answer. When I received paperwork from them in XX/XX/XXXX the interest rate on our loan was not changed and our mortgage payment actually went up. According to them since there was an escrow analysis the payment was actually XXXX dollars lower. They told me that their investors would only allow this payment amount and no change to our interest rate. I told them I didnt want this new option and wanted to just do the partial claim instead. They sent me the contract for the partial claim in XX/XX/XXXX. My husband and I signed it and sent it back to them in XX/XX/XXXX. I called Flagstar Bank in XX/XX/XXXX to see if they received the contract because we were still getting collection calls from them and nothing updated on our online account. I was told they did receive the contract and processed and recorded it. I was also told that once I made the XX/XX/XXXX payment on the first our mortgage would reset to the new terms and we would see the new information on our online account and our next statement. The online system would not let me pay so I called Flagstar Bank on Monday XX/XX/XXXX and made my payment with a staff member over the phone. Today XX/XX/XXXX I received my statement. Nothing has changed. Nothing online has changed. We are showing as delinquent with XXXX XXXX dollars due immediately. Today is a Saturday and I cant call them because they are closed. Weve done everything required of us under the Cares act and Flagstar Bank has not followed the law.
Frequently Asked Questions
What is Complaint #5590302 about?
Complaint #5590302 was filed against Flagstar Bank, N.A. regarding Mortgage specifically about Struggling to pay mortgage. It was received by the CFPB on 2022-05-22T12:00:00-05:00.
How did Flagstar Bank, N.A. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Flagstar Bank, N.A.?
Yes, visit the Flagstar Bank, N.A. company profile at readthecomplaint.com/company/flagstar-bank-n-a to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.