Consumer complaint received 2020-11-11
Company: LD Holdings Group, LLC
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
My fiance and i viewed a new construction home on XX/XX/20. We liked the home ended up putting earnest money down and signed a contract for a conventional loan. The following week we received a path which stated we needed to pay down a credit card. That was completed the following day and proof was sent to their lender. I kept in contact with the lender who stated nothing else needed to be done. I was then told about a month later that the XXXX XXXX letter needed to be reduced. I told him that court was delayed due to covid-19 but i could get a letter from our attorney with their recommendation to the judge. Lending said this would work and the letter was sent over. When court was completed in XXXX, I called lending and let them know the amount was lowered per the judge to the amount listed in the letter. The lender then ( after 5 months ) ran our credit without permission and then said that he doesnt believe the loan will work. From that day on ( XXXX XXXX ) it was literally a different story each day. One day we were told that the student loan payment amount would have to be reduced, the next day I was told no it was fine but i need to pay off a different loan. Then the day after I was told that I needed to just bring the money that was needed to pay everything off to closing and those loans would be paid at closing. I was then told that it was not going to go through as the income was not enough. I asked how when all of the income was laid out before we signed the contract. I did not get an answer. I was completely confused as to how we were put under contract and completely changed our lives just to be told 5 months later that they werent sure the loan would go through. I then contacted my lender 's boss and spoke with him. He told me that the loan was FHA and my student loans didnt matter. I was then told that until XXXX came around and taxes were filed that there was no way this loan would be able to be processed. I asked if we were able to push the closing back 3 weeks so that way the income taxes could be filed and was denied. I was shocked as they had already pushed the closing back on their end 3 times. I was also told that no other lender would be able to approve us and they sent the cancellation form was sent. I also contacted the lender one last time to get some answers and he lied to me saying we were put under contract without pre-approval. He then said the loan was unworkable and he let it sit for 5 months. He also said he never submitted it to underwriting but just told me it was denied. I was also told that he was trying to submit FHA even though I signed conventional and then told me conventional was not even in the picture. He told my realtor the DTI was under and the next morning he told me it was way to high. I was not even given an option to have another lender look and do the loan. My earnest money has still not been returned as of today. The closing date has also been pushed back 3 times but they were refusing to allow me an extra two weeks to file and get the income they say they required in XXXX.

Company response to consumer: Closed with explanation