Complaint / review / scam report
Cenlar Central Loan Administration
Six years ago my husband and I were forced to move out...

Complaint / review text:
Six years ago my husband and I were forced to move out of state due to job situations. We secured a land contract for the home we left behind. A year and a half ago our mortgage was sold to Cenlar. A couple of months later our land contract fell through. As soon as we found out, we notified Cenlar and secured a realtor to do a quick short sale. The realtor showed the house more than fifty times and received 3 offers that were HIGHER than the amount that the Cenlar appraiser had valued the property. Cenlar refused the offers because they were lower than the realtor's list price. We completed 3 packets of paperwork to do a short-sale or deed-in-lieu-of-foreclosure.

Every time we called to check on our loan status, we were told something different by each person we talked to (even within the space of 20 min)! It seems as if there is NO communication between their departments. The woman handling our account was ALWAYS gone home for the day or unavailable until I asked how to file a complaint. She called us the same day and then proceeded to tell us that our paperwork had just been processed (how convenient). Of course, two weeks later we were told to fill out all new paperwork because parts of the packet were then expired. We have been running around in circles for 1 1/2 years now, trying to do the right thing with this property.

Our credit is trashed, I have a file folder 4 inches thick of paperwork, and we are tired of trying to make progress with this frustratingly incompetent company. At this point I think we're going to have to just let the property go onto foreclosure just so we can be done with the emotional and mental stress this company has caused my husband and I. Every time we try to complete paperwork, it just prolongs the journey to nowhere. If you ever have an option, DO NOT DO BUSINESS WITH THIS COMPANY! We didn't have a choice, but hopefully this review will help people do that.

Contact information:
Author: Contact with Author

Offender: Cenlar Central Loan Administration

Country: USA

Category: Business & Finance


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