Consumer complaint received 2019-03-20
Company: MONEY SOURCE, INC., THE
State: GA
Product: Mortgage
Sub-product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
During the months of XX/XX/XXXX and XX/XX/XXXX I was repeatedly called from my mortgage company to refinance my VA loan. This is my first home loan, so I was extremely hesitant to refi my loan only 7 months after my purchase. XXXX from The Money Source, my mortgage company assured me that it was ok to refi for a lower intrest rate and that the negative balance in my escrow account would be absorbed into the loan, and my payments would be lower without too much of an extension on the life of the loan. I agreed to the refi and told XXXX that I was on my way to XXXX he said that was fine just make XXXX payment and I would close when I returned from XXXX in XXXX. I made the payment on XXXX using the application on my phone, and not to worry about XXXX payment because we were closing in XXXX. I left for XXXX on XXXX. During my trip in which I did not return until XXXX there was a mix up at the bank and the payment was returned. The mortgage company was notified on XXXX, but my closing was on XXXX where I paid a small closing cost, but I was not informed of the returned payment until XXXX I was told to make the payment by XXXX, and not to worry about XXXX payment that my new payment was {$1000.00}, and the refi will continue. When I went to make the payment that evening the system would not accept the payment for XXXX so I had to submit it for XXXX. Please keep in mind I had already had the closing paid my fees and it was past the three-day reversal period. I received a new welcome packet and several letters confirming that the closing was complete, I had a new loan number, and my first payment was XXXX in the amount of {$1000.00}. By now it is the beginning of XXXX, when I went to the web site and the application on my phone it said I had two open loans for the same home around the same amount. So, I began calling the mortgage company to get clarity I was assured that the old loan was no longer existent, and the new loan was correct, and that someone from higher up would call me to confirm. I started to receive alerts that my mortgage is late and that I was at risk of losing my home, so I called the mortgage company again and was again told the same thing. I was also told some conflicting information and that I was not telling the truth about the new loan they made me email them the information I received about the new loan because the woman said she did not believe me. I called the mortgage company a total of nine times and each time I was told the same thing. I went to the application on my phone and I had the two loans but this time both loans were for the same amount {$1000.00} I screen shot the information, and called the mortgage company again, again they told me I must be mistaken. By now I am starting to get extremely frustrated and offended that I am once again called a liar, this was on XXXX. I emailed a copy of the screenshot. When I woke up XXXX I went to the application on my phone this time both loans had {$1200.00} for payments but again only one is supposed to be active. I made XXXX payment of {$1200.00} but I am being constantly threatened with foreclosure for XXXX and XXXX payments. I am beyond frustrated and I want my loan handled by someone of competence it is beyond obvious this company can not professionally handle my loan. As a XXXX veteran this whole loan process is stressing me out and causing me physical pain.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation