Our loan was sold to Pennymac. We made payments on our house thinking all was good because we were never late on any payments when 3 years later, Pennymac tells me we owe 10 thousand in back taxes.
They never once ever informed of of anything at all in all that time. So here I am today almost 3 years into the loan and low and behold my escrow is negative even though I have been paying the correct amount according to the amount they told us to pay. Our payment has been $300 more a month for the past 6 months. Meanwhile in the midst of paying the extra amount I was unable to pay a payment and called the mortgage company to explain what was happening.
My wife who had been working full time as a teacher became ill. Long story short, she was diagnosed with having severe Rheumatoid Arthritis and for about a year she was unable to work at all. I asked for a loan modification due to this. We got no help from Pennymac.
The following year after missing our second mortgage payment, my wife obtained a part time job as a teacher. Long story short, we were able to pay the mortgage each and every month plus the supposed unpaid taxes. By the end of the school year after getting the flu twice, my wife was in serious shape in terms of her health. She was unable to walk let alone work.
Pennymac offered a modification. For the forth time it was denied.
Not only that the modification stated that rather than pay the $2,300 per month that we pay over 4,000 each month for 4 months. It is now clear to me that this company wants our house.
Product or Service Mentioned: Pennymac Mortgage.
Reason of review: Problems with payment.