We have banked with USAA for years and when it was time for our mortgage to be renewed we trusted them and thier rates, believing we were refinancing with them. It later turned out that our mortgage was handled by PHH which at the time wasn't a problem.
Fast forward to my husband being made redundant, as we wanted to forewarn them and attempt to get assistance with our mortgage during this time we applied for their assistance program, it took around 2 months to go through it sending in all our paper work and they told us that we would be contacted soon, but no one was ever able to approve or deny our request for assistance.
We had to borrow money from family members to stay on top, but it just got too much and we couldn't do that anymore.
We sent them, as they requested, all our financials and a hardship letter etc at least FOUR times in the space of a year, and we still couldnt get any help, we were just constantly told that they needed more up to date paperwork.
We decided to try to short sale the house and cut our losses, over the space of a year we have had 3 offers on the house, each reasonable and would not lose PHH any money at all on the amount of money that we owed to them.
They sat on the first offer for 6 months, and the buyer eventually pulled out.
We then had a second offer made IN CASH, they sat on this with no response for 4 months before the buyer pulled out.
We had a 3rd offer 6 weeks before the house was due to go to auction.
We found out a few days ago, that our house had been auctioned off the week prior.
At no point has PHH contacted us regarding our property.
We have been trying to regain access to the home for 4 months as we were still in the process of moving out, when they changed the locks.
Much of our belongings still in the home.
So not only have we lost our home, we've also lost a lot of the family belongings we've gathered over the last 10 years and no one will tell us whether the items are even still in the home, and if there is any chance in hell of gaining access to retrieve them.
I did some research to try and find out about the auction of the home and it turns out that the buyer of the property was none other than PHH mortgage Corp.
For $30k less than what we were offered by previous buyers.
We are now told that we are liable for the remaining $30k of our mortgage.