• Report: #1042907

Complaint Review: Colonial Savings Mortgage F.A.

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  • Submitted: Fri, April 12, 2013
  • Updated: Fri, April 12, 2013

  • Reported By: Linnea in Wisconsin — Sun Prairie Wisconsin
Colonial Savings Mortgage F.A.
2600 West Freeway Fort Worth, Texas United States of America

Colonial Savings Mortgage F.A. Refused mortgage payments Fort Worth, Texas

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My mortgage had been sold to Colonial Savings. I had never missed a payment, nor was I ever late making a payment until October of 2009. I became two months behind on my mortgage after losing my job and my spouse's income as well. I sent a payment for one month, only to have my check returned to me by Colonial Savings.

I called and spoke with a representative for Colonial Savings, and it was explained to me that a payment would not be accepted unless it was for the past due amount, plus the payment due, plus late fees.

During the months that followed, I tried to apply for a loan modification, at their suggestion. I faxed the completed paperwork more than several times before I finally mailed it "Certified, Return Receipt Requested".

Each time I faxed the many pages of the modification paperwork I followed up with a phone call. Each time I was told they had not received it yet, and to call back the next day. Each time I called, I was told that either not all the paperwork came through, or, they never received it at all. So, I mailed it.

After I received the receipt as proof Colonial Savings received my loan modification application, I followed up with a phone call. I was told they did not have my paperwork. When I mentioned I held a receipt, proof that they did indeed receive the paperwork, the woman I spoke with told me she's have to look for it and call me back. When a few days had passed and I had not received a call, I called Colonial Savings. I was told that they did have my paperwork, but that I would not qualify for a modified mortgage loan because I was behind on my payments and was unemployed.

All of this was greatly stressful and left me feeling very helpless.  I feel Colonial Savings purposely placed me in a foreclosure position.  I did list my home for sale with a reputable realty company, however, the market in southern Wisconsin was down, and I was unable to sell before the house was taken by Colonial Savings.

This report was posted on Ripoff Report on 04/12/2013 09:52 PM and is a permanent record located here: http://www.ripoffreport.com/r/Colonial-Savings-Mortgage-FA/Fort-Worth-Texas-76102/Colonial-Savings-Mortgage-FA-Refused-mortgage-payments-Fort-Worth-Texas-1042907. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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