Consumer complaint received 2018-12-14
Company: Eagle Home Mortgage, LLC
State: MD
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
This was sent to XXXX XXXX and XXXX XXXX of XXXX XXXX on XX/XX/XXXX I purchased a new townhouse in XXXX XXXX Delaware in XX/XX/XXXX with a completion/closing date of the end of XXXX. I secured my mortgage with Eagle Mortgage to take advantage of the incentives available from XXXX. 

I am a senior citizen and have purchased several homes over the years. This was also my 3rd XXXX home ( 2 townhouse in XXXX XXXX ). I have outstanding credit ( over 800 ) and no debt. I have a XXXX  XXXX for life. When speaking with the mortgage broker we reviewed several types of financing. My goal was to minimize cash to close at the same time maintaining a reasonable monthly payment. We decided that a Conventional Loan with Lender Paid PMI would be the best fit. 

On XX/XX/XXXX I received disclosure forms with my cash to close and payment amount. The final cash to close was {$10000.00}. 

Also, I had procured XXXX for my homeowners insurance and given them all the mortgage contact information in XXXX. On XX/XX/XXXX I was informed that the processor had used the XXXX insurance company instead and since the final documents were ready, would I be willing to let that occur and cancel after closing and start XXXX. I agreed but was not happy that they dropped the ball on this issue. 

Settlement was scheduled for XX/XX/XXXX. 

On XX/XX/XXXX I contacted the title company to get my final numbers so I could wire the money. After several calls ( since no one seemed to know anything yet ) I was emailed at XXXX XXXX  that my cash to close was XXXX. 

I called the mortgage broker and she said it was a mistake and she would research in the morning to find out what happened. 




















Tuesday I contacted her in the morning. She was not able to provide me with an answer until XXXX XXXX. The response was that under the rules of that type of mortgage, the seller is limited to how much they can give the buyer. 

I am fairly certain that your company is quite aware of this rule. Also I received no documentation letting me know about this. I am really disgusted with the way this was handled. I spoke with XXXX about cancelling the contract to purchase the property. My understanding is that the house was sold to another buyer on Wednesday. To say I am disappointed is an understatement. I have been looking at these homes for a while and was very excited to get the last one before being sold out. 

I received the document to cancel the contract yesterday. I have not signed it. Under the circumstances, I would like my {$1000.00} deposit refunded to me If you need more information, I would be happy to provide it. 

XXXX XXXX XXXX My response from XXXX XXXX on XX/XX/XXXX Hi Ms. XXXX, I hope this email finds you well. 

Per your conversation with me on XX/XX/XXXX, you expressed that you wanted to cancel your purchase agreement with XXXX XXXX and were aware that you would be forfeiting your deposit. You also put your desire to cancel in an email dated XX/XX/XXXX. If I am misunderstanding anything, please feel free to let me know. 

My response and final contact with XXXX XXXX Yes you are correct. However I was placed in a very awkward position when the proper documentation was not disclosed to me. There were not many options for me at that time except to let your processor get away with incompetence. 
I have lost the house I wanted. I spent most of Wednesday cancelling the gas and electric utilities. Also I had purchased a washer and dryer and garage door opener all being installed yesterday that needed to be cancelled. The cable needed to be cancelled. All the things I had purchased for the house needed to be returned. 
Your company made a huge error and caused a lot of anxiety for me. I deserve my deposit back.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation