Consumer complaint received 2018-11-23
Company: RUSHMORE LOAN MANAGEMENT SERVICES LLC
State: DC
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process

Complaint:
My {$0.00} balance Home Equity Line of Credit was sold in XXXX, XXXX by XXXX XXXX to Rushmore Loan Management Services of XXXX, CA. I was never late with a payment and the loan was paid off in XXXX. I kept the line of credit open in case of future catastrophic financial needs. 

After reading online reviews of Rushmore ( XXXX XXXX XXXX ) I decided to close the loan in XXXX, XXXX and contacted Rushmore.

*Rushmore said I had a {$50.00} processing fee due and that I needed to pay the fee and send a separate letter to close the account ; the agent said the account could then be closed within 5 days. I paid {$50.00} by check ( which was cashed by Rushmore on XX/XX/XXXX ) and sent a certified return-receipt letter to close the account ; Rushmore signed acceptance of letter on XX/XX/XXXX. 
In XXXX I received a monthly {$0.00} balance statement showing the loan as still open. I called and was told I had been given incorrect information and that the agent would be sending me the appropriate paperwork to close the account. Rushmore did not send any paperwork.

*In XXXX I got another open loan statement and called again. The agent I spoke with said he could see my prior two requests in his system but that both requests had been " rejected by the company '' - no communication to me nor recourse had been provided during the period from XXXX - XXXX. I asked to speak to a manager and was told that " all managers are in a meeting and unavailable ''. He said I could go online to initiate the closure process. With him on the phone I went online to my account, followed his instructions and explained to him that the menu option he told me to use was not on my drop-down list ( prior to retirement I worked in XXXX XXXX for 35 years and know how to maneuver through a website ). He said " oh ''. I was then told there is a lien on my house ( both the equity loan and my house are paid off ) and that I had to pay a " lien fee '' to get my account closed. The agent said that the fee was not a fee incurred from Rushmore but from the county in which I reside ( I live in the District of Columbia which is not a county ) .The agent said he was not permitted to reveal the fee to me over the phone but that paperwork would be to me no later than XX/XX/XXXX and that I would have until XX/XX/XXXX to pay the fee by certified check only ( which is, of course, untraceable after it leaves my hands so I would have no proof of payment ). However, no paperwork came on XX/XX/XXXX. When I called again I was told that paperwork would be to me no later than Monday, XX/XX/XXXX. 
*It is now XX/XX/XXXX ; since XXXX the only written communication I have had from Rushmore is the monthly {$0.00} open loan statement. I have consistently been given incorrect and misleading information. Rushmore will not close my loan nor will they provide me any process by which to do so.

I am very concerned that Rushmore is accruing hidden fees. I am also very concerned that, should my account be compromised and funds stolen, I would have absolutely no recourse with Rushmore. I am very concerned that if I finally do get notified of a fee amount and send a certified check my loan will still not be closed and that I will have no proof of payment nor will " lien '' be removed. Finally, I am concerned that Rushmore could somehow negatively impact my sterling credit rating. I am a XXXX year old retired single woman who has worked very hard to attain a sense of security in my reclining years. I feel extremely vulnerable to Rushmore. I actually feel that I am being held hostage by this company who consistently gives me incorrect information and who refuses to close a loan on which there is {$0.00} balance. I have reported this to XXXX XXXX where the loan originated ; XXXX XXXX told me that after a loan is open XXXX years there are no associated fees with closing the loan. I have also contacted the DC Department of Aging Legal Services and will be contacting the DC Department of Insurance , Securities and Banking.

Company response to consumer: Closed with explanation