Consumer complaint received 2022-12-05
Company: Freedom Mortgage Company
State: NC
Product: Mortgage
Sub-product: FHA mortgage
Issue: Trouble during payment process

Complaint:
Loan Number : XXXX In the month of XX/XX/2022, I received a notice from freedom mortgage informing me that my mortgage payment would increase to {$1300.00}. I immediately contacted freedom mortgage to inquire about, why I was not informed about my insurance payment increase. They explained that my mortgage insurance company had raised their price. I contacted my mortgage insurance company which was Travels insurance to find out why I had not been notified regarding this increase. XXXX apologized and explained that they had sent a letter that I never received. Within 2 days I had found another mortgage insurance provider and made sure that XXXX XXXX XXXX company ( my new mortgage insurance provider ) notified Freedom Mortgage that they would be my new insurance provider. About two weeks later, I received a check from XXXX for {$940.00} and I immediately sent that check to Freedom Mortgage for a recalculation of my escrow. About two weeks had past and I had not heard from Freedom Mortgage. So, I called Freedom Mortgage, the representative stated that they had not received the check, so I called XXXX to find out if the check had been cashed. A XXXX representative explained to me that the check had been cashed on XX/XX/2022 by Freedom Mortgage. I called Freedom Mortgage back and asked to speak with a supervisor. After informing the supervisor about my previous conversation with one of her coworkers I then explained what I had found out from XXXX. The supervisor reviewed my account and found that the {$940.00} check had been received and applied to the either the interest or principle of my loan. I informed her that the check was from my old insurance company and was to be applied to my escrow account. The check was finally properly applied and the recalculation was requested to take place. I continue to pay {$1100.00} each month. In XXXX I received a notice explaining that I had missed a payment in the month of XXXX, which is not true. I have always paid each month on time except the three months forbearance that everyone involved was aware of. I called Freedom Mortgage about this notice and was told that my XXXX payment had not been applied to my loan and that a portion of that {$1100.00} had been applied to another months payment. I have spoken to at least 5 supervisors and 5 representatives at Freedom Mortgage. It was finally explained to me that the insurance issue that had been raised by Freedom Mortgage as being the problem was not the problem at all. What I found was that when Freedom Mortgage purchased my loan, they did not do their due diligence. Freedom Mortgage had never done a recalculation of my escrow, which was purchased back of XXXX of last year. Now that Freedom Mortgage has finally done what they should have done a year ago. It seems that they are placing the blame for the escrow shortage on me. I own tractor trailers ; I am paying {$3000.00} to {$3400.00} a week in fuel operating cost. I do not have any extra funds to give especially when I had nothing to do with this shortage. In the month of XXXXXXXX XXXX XXXX  while speaking with another supervisor from Freedom Mortgage, I agreed to pay {$1200.00} as my new monthly mortgage payment and I did send that {$1200.00} on XX/XX/XXXX of last month. I have increased my monthly mortgage payment by {$92.00} which should demonstrate that I am attempting work with Freedom Mortgage regarding this imbalance in my escrow. In closing, my loan is for {$160000.00} why is Freedom Mortgage giving me so much trouble when so many homeowners can not afford to pay at all? This is just another example of corporate greed that has taken over our economy and this country. I just needed to bring this to your attention because the treatment I am receiving is blatantly unjustified and simply makes no sense.

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