Consumer complaint received 2020-11-19
Company: Better Mortgage, Inc.
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I was applying for a refinance with Better Mortgage because of the fact it is advertise on XXXX that they allow you to use the income form earnings as a host sharing you're home for income. ( see link ) Prior to begining the process they assured me that was true. 
I made it real clear because I was turned down for that reason. 
Now we are at the end of the process and they say oh well XXXX  XXXX  isn't doing that any longer now since Covid ... .what I just paid an appraiser {$550.00} and lot of time getting documents submitted all the things you do to refinance which is time consuming so Im blaming XXXX  for false advertising, Also Better Mortgage for being a part of it and stinging us along and XXXX XXXX for not helping people who have good credit lots of liquidity and lots of equity. 
We are a couple who deserves a refinance, have never missed a payment in our lives and are victims to covid 19 having my husband lose his job in XXXX. 
Here is the link on the web XXXX website. : XXXX XXXX XXXX I have asked them to take it down since it is a false and misleading to the public. 
Refinance your mortgage Heres the wording : A hosts home is often their most valuable asset. In addition to providing hosts with a way to welcome guests and meet travelers from all over the world, it also provides a way for them to earn income. 

Financial institutions havent always understood home sharing and how its an economic lifeline for many families and individuals. Thats one of the reasons why many lenders didnt recognize XXXX income when people applied to refinance their home loan. 

Were proud to announce an initiative with XXXX XXXX and three lenders to help hosts refinance their mortgages. For the first time, hosts in the U.S. will be able to work with participating lenders to recognize XXXX home sharing income from their primary residence as part of their mortgage refinancing application. This could help unlock potential savings for hosts and help them reach their financial goals. The three mortgage lenders in the initiative are XXXX XXXX, XXXX XXXX, and Better Mortgage. 



Heres how it works : U.S. hosts can apply to refinance their existing mortgage with XXXX XXXX, XXXX XXXX, or Better Mortgage. Their existing mortgage does not need to be with any of these providers. 
All U.S. hosts who share their primary residence are invited to apply. Specific eligibility requirements will be determined by each lender. 
When you apply, include your XXXX Proof of Income with your application. Your Proof of Income allows these lending institutions to consider your XXXX income when processing your application. You can find your Proof of Income here. Each lending institution may request additional information to see if you qualify. Check with your lender to see what documents youll need. 


This is a new initiative, and were excited to continue identifying ways we can support our host community. Well be in touch with more updates in the future and hope youll share your feedback as we go forward. 

Hosts have always been the backbone of XXXX and we look forward to doing even more to help hosts earn extra money and pursue their passions. 

Find your Proof of Income here and get started with the following lenders : Get started with XXXX XXXX Get started with XXXX XXXX Get started with Better Mortgage

Company response to consumer: Closed with explanation