Consumer complaint received 2018-03-31
Company: LD Holdings Group, LLC
State: CA
Product: Mortgage
Sub-product: VA mortgage
Issue: Trouble during payment process

Complaint:
When doing a refinance on our VA, we chose a cash out option. An appraisal was required. We had that done and paid for it. 

The process included paying off a HERO loan to be acceptable to the new lender ( Loan Depot ), therefore our property tax went from {$1900.00} ish to {$1200.00} ish twice a year. The original payment was based on the old rate of course. 

After getting the new tax bill, I called the company and asked to have this reviewed, as my payment would go down in excess of {$100.00} a month. They said no, had to wait for first year. 

After the company mailed the {$1200.00} to the County for tax, I called back and said they obviously must have received the new tax bill and once again asked for a review. This representative said it was my lucky day, she would have that done the following Tuesday, my new payment would be calculated and the excess sent to me in a check, since my loan was almost 6 months old. ( this was around XX/XX/2018 ). 

Indeed a check was cut and I received an email of my escrow analysis and a picture of the check for {$1600.00} approx. I waited several weeks and it did not arrive. I called again, early XX/XX/2018. The representative said it was probably just lost in the mail so she would have another one cut and sent to me.

I received an email showing the new check was cut on XX/XX/2018, then a week later got an email said they mailed it, on XX/XX/2018. 

Of course it did not come so I called today to learn they did not mail it, they redeposited it to my escrow account as they determined unilaterally, that my tax might not go up and I might not be fully taxed. They saw the value of the appraisal and determined in their little heads that the refi would cause my taxes to go up. I told them it does not work that way and I wanted my {$1600.00}. They kept me on the line and told me all kinds of stories about re-opening analysis. II suggested this is now fraud and I want a check now.

They say they went to Escrow analysis and would cut a check by 5 pm. today and mail it by Monday night.

Obviously I am skeptical and I believe this is out and out fraud to keep customer 's money. They held it for six months already. 

I feel they should have a punative action taken against them so no one else wastes hours and hours on calls to attempt to get their own money. 
BTW, today they said it could not be reviewed before 18 months. That is three different time from three representatives of the same company.

I called the tax assessor 's office and that appraisal will not raise my taxes nor void my SB 60 and homeowners exemption. 

Loan Depot told me they will mail my check but now they must do a thorough tax review and it could come out I will owe more. This was a scare tactic and it really made my mad. Most of the people I know would not have any chance of understanding this. Nor would they know how to contact the county and check The level of fraud is frightening. Help me help others.

Company public response: Company believes complaint is the result of an isolated error
Company response to consumer: Closed with monetary relief