My husband and I bought our first home last year. It is an FHA insured loan that was financed by First American Mortgage Trust, but the mortgage was bought just weeks later by Dovenmuehle Mortgage.
Our first problem we incurred with Dovenmuehle was when they ignored the faxed letter (they make you fax everything) cancelling the automatic payment draft, and they continued to draft our account. But after a second fax and a lengthy letter, they corrected that oversight immediately.
Over the summer of this year, my husband was out of work. We have become delinquent in our mortgage payments, and have been contacting Dovenmuehle diligently (at least once a week) to resolve this issue through loss mitigation. All we got at first were there famous "allow us 20 days to respond" letters. We would call and leave voice mails; no calls were returned.
Finally, on the 26th of October, our loss mitigation worker thought kindly enough to call us back and tell us to pay half of what we owed by the 31st or they would foreclose. They gave us five days to pay them 2400 dollars! We told our worker that those terms were financially unfeasable. We reminded her that it is an FHA insured loan, and that we qualify for a payment suspension or a partial claim on the PMI. They refused us either option, even though our FHA approved credit counsellor verified that those were the only options we qualified for under FHA guidelines because our debt-to-income ratio does not allow for a conventional repayment plan.
So instead of Dovenmuehle filing a partial claim on the PMI so they can recieve their money immediately, and allow us to resume our regular payments, they want to foreclose on our home, which means that we will lose our foster child who was placed with us for adoption, because we cant provide a permanent placement because Dovenmuehle wont work with us on a REASONABLE solution for everyone. Why would a mortgage company prefer a foreclosure rather than a suitable payment arrangement? Do they like clubbing baby seals, too?
So now our only option is to file Chapter 13, and hope we can save our home.
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