Anyone else having serious issues getting off the Cares Act forbearance?

I started this epic journey of getting off the forbearance in December of 2020. At the time I started working again after losing all my job for 6 months so I began the process of ending the forbearance. Since then, my loan has either been sold or the loan servicer has changed 4 times. I’m just now signing the modification documents. It’s been almost a year!

I was forced to do a “trail period” for 3 months before getting the modification and the bank (or servicer) has reported me as being behind on payments for over 90 days. My perfect credit is fucked. They said as soon as they get the docs back signed they will make a note on the report. A note does not mean they’re removing the reporting.

I was never told negative reporting would be done, I wouldn’t have done the modification. In fact, during the entire process I was told multiple times I would be protected from reporting during the forbearance as well as the time before the forbearance and the signing of the modification.

I have questioned the loan servicer and they said that they are reporting as allowed by the Cares Act. I have no idea who I could call to confirm that what they’re doing is legal. This seems super sketchy and I wonder if anyone else if finding similar issues.

Currently the bank is NewRez and the loan servicer is Shellpoint.

submitted by /u/sanchopanzance
[link] [comments]

I started this epic journey of getting off the forbearance in December of 2020. At the time I started working again after losing all my job for 6 months so I began the process of ending the forbearance. Since then, my loan has either been sold or the loan servicer has changed 4 times. I’m just now signing the modification documents. It’s been almost a year! I was forced to do a “trail period” for 3 months before getting the modification and the bank (or servicer) has reported me as being behind on payments for over 90 days. My perfect credit is fucked. They said as soon as they get the docs back signed they will make a note on the report. A note does not mean they’re removing the reporting. I was never told negative reporting would be done, I wouldn’t have done the modification. In fact, during the entire process I was told multiple times I would be protected from reporting during the forbearance as well as the time before the forbearance and the signing of the modification. I have questioned the loan servicer and they said that they are reporting as allowed by the Cares Act. I have no idea who I could call to confirm that what they’re doing is legal. This seems super sketchy and I wonder if anyone else if finding similar issues. Currently the bank is NewRez and the loan servicer is Shellpoint. submitted by /u/sanchopanzance [link] [comments]

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