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Veterans United Home Loans sold my mortgage to Pennymac in March 2014 without telling me. I received no correspondence: email, phone, letter or carrier pigeon until May 2014 with Pennymac telling me my loan was in the early stages of default. My Billpay showed that VUHL received all payments on time; plus I had no idea it was sold anyway. Fast forward till June...I make the payment to PM 3 June of the new payment up from $1490 to $1587 (some equity mumbo jumbo)

Today, 19 June 2014 I receive a call telling me my payment is behind a month and that it is going into their in-house collections agency. They say I have to pay a month ahead of time in order to maintain compliance with their statutes. "Excuse me? Is this comcast?"

I want to sue for harassment and flat out defamation of my character. I have never missed a payment since I bought the house March 2013. They need to fix their house before they try and take mine. If anyone out there has started a class action, I'd like to join their suit.

Jeremy

SSG US Army (RET)

Monetary Loss: $1587.

Location: Annapolis, Maryland

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Guest

This is Jeremy

Thanks all for the comments. No updates yet, but they continually call me and refuse to allow me to email them a copy of my payments I have made since I purchased the home March 2013.

They have continually applied my payments to "other charges" and claim they are sending it into collections. I am a disabled veteran on a fixed income, and what they want is for me to make another payment so i can be up to date. Not once have I received a call from the same person. I am not scared to lose my home, but I will make it my purpose in life to bring them down if they try.

My next step is to have lunch with the Sec of Veterans Affairs in Annapolis.

I do not have the time to handle issues that should not be in existence. I need a free lawyer.

Guest

Maybe you should lawyer up to be safe and keep your home.Escrows do make house payments go up when property taxes and insurance go up and usually those go up every year.But if your loan is sold they have to by law follow the same agreement you originally signed for your mortgage and if in your mortgage it says you do not have to pay early then you got them that's why I say lawyer up.

Guest

Jeremy,

Any updates? I posted complaint number 38 of 38, and added a note about refinance through a VA IRRRL loan through them and how it's going to help me get away from pennymac.

Navy federal doesn't look to use predatory practices to try and take your house. what I believe pennymac is trying to do, their incompetence will force late payments or whatever penalties on to you, the customer, increases on your monthly payment due to them imposing their homeowners insurance or errors on their side put a financial bind onto you. Maybe you get to the point you can't afford the monthly payment anymore even though it is bloated with PM mistakes, and had they not made those mistakes you could easily make them. Anyway, PM will start to push foreclosure on you, they might even tell you if you make an extra payment the process will stop, but they will continue anyway.

If they are talking foreclosure, by the time you can do anything they will own your house even if you follow the steps to get out of it. Their departments won't communicate with each other and a company like pm just cars about money. They probably have an insurance policy on the side for your house, so if they do foreclose and end up selling it for less that they bought your mortgage for, the insurance covers the difference, and PM still gets paid, and you're out of a house. I have yet to hear anything positive about pennymac.

Everything I see PM rates 2/5 stars. Good luck.

Guest

One word. Stay away from this place. I would rather see Enron around

Guest
reply icon Replying to comment of Guest-830573

Pissed off customer: How can you stay away from this company when you have no control over who buys sells your loan? I know it's common practice, but doesn't it seem *** backwards that you can be bound to a company you've never signed a contract with?

I may have not liked PM practices and therefore made a conscious decision to not do business with them, but then the mortgage company I do use sells my loan to PM. How is this fair and legal? We have no say whatsoever to whom we owe money? PM bought my loan as well and did not notify me.

The company seems very sneaky.

I did not want to do business with them and do not want to continue a relationship with them. Is there no way to say you do not want this company to own your loan without paying to be free from a relationship you never wanted in the first place?

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