Complaint #1547296 submitted on 09/01/2015 relating to Astoria Bank. Complaint relates to Mortgage Conventional adjustable mortgage (ARM) - Loan modification,collection,foreclosure .
Complaint was submitted via Web and sent to the company on Tuesday 1st September 2015.
To Whom It May Concern : This letter is an explanation of why we are requesting a short sale of our current home to Astoria Bank. My spouse was laid off due to a reduction-in-force from her job in XX/XX/XXXX. When this occurred I requested a deferment of payments for a few months and a loan modification to be applied to the end of my mortgage loan. The request was denied even though I had given Astoria all the necessary information requested ( hardship letter, pay stubs, bank statements, taxes, budgets, bills, and letters of explanation ). To further increase the severity of our financial situation at the time we had a rate adjustment on our current loan, which increased the mortgage by additional {$1500.00} dollars.
Since then my spouse has been unable to find steady work and has been taking temp jobs to try and assist with helping to make ends meet. We did not think that it would be this difficult for her to find employment which would sustain our household, but it has. We have drained our bank accounts checking and savings to almost non-existence and have only been able to make payments up until this point by borrowing from friends and family to help us make our mortgage payments and to make ends meet.
Early XX/XX/XXXX we pursued the short sale avenue, received an offer on our home and have submitted a short sale package again to our mortgage company Astoria Bank, which is trying to use deceptive practices to deny this transaction, by requesting the same paperwork over and over again. They are coming up with reasons to deny the short sale, which we will have no course but to continue down the foreclosure route. We have provided ( hardship letter, paystubs, bank statements, taxes, budgets, bills, letters of explanation, and two years ' worth of data ) and they still request more and say the package will be denied.
We can no longer support the payment with XXXX steady salary in our household. This has been great financial burden on our family and very stressful time in our lives. Our household incomes as I have mentioned before has been reduced of 46 % of take home salary and an increase of 80 % on our mortgage loan, with another pending adjustment coming. We are customers in good standing currently with this bank, and have never missed a payment, but this has now come to where we have drained every dime. We tried to get the process completed before our bank account became empty, and a year later Astoria is being very difficult ; The bank drawing this process out seems as if they want to force our offeror to withdraw and force foreclosure which makes no sense to us. Our realtor says they have never seen anything like this ever, and believe Astoria is being deceptive in their practices. Please let us know if there is any action we can take as consumers against such practices.
| Company | Astoria Bank |
| Complaint ID | 1547296 |
| Date Received | 09/01/2015 |
| Product | Mortgage Conventional adjustable mortgage (ARM) |
| Issue | Loan modification,collection,foreclosure |
| State/ZIP Code | VA 201XX |
| Consumer Consent | Consent provided |
| Company Public Response | |
| Company Response To Customer | Closed with explanation |
| Submitted | Web 09/01/2015 |
| Result | Timely Response: Yes, Consumer Disputed: Yes |
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