Consumer complaint received 2018-04-07
Company: LD Holdings Group, LLC
State: CA
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Trouble during payment process

Complaint:
Our house was broken into and vandalized, leaving almost {$30000.00} worth of damage to the interior of our home. This happened in XX/XX/XXXX, while we were on vacation. The first check we received from our insurance company ( XXXX XXXX ) in XX/XX/XXXX was just under {$17000.00}. Since the check was made out to both us and the insurance claims dept of Loan Depot, we had to send the check to them to endorse and wait for them to send it back to us before we could proceed with structural repairs. They notified us at that time that we would need to call them for an inspection, when all the work was completed, no problem! The problems began when we received the next check from the insurance for $ 5000+. I called Loan Depots Insurance Claims Dept to let them know that I was sending in the check to be endorsed. They told me that now that it had gone over {$20000.00}, we would need to send them the insurance adjusters worksheet ( we had already sent them one with the first check ), a signed contract/proposal from our contractor, and a contractors waiver of lien. We sent all the required/signed forms and the check to Loan Depots Insurance Claims Dept to be endorsed. However, this time they sent the check back to us and told us that we needed to endorse the check and then send it to them. I called them and they then told me that they would deposit that check, after we endorsed it, then send us a new check. I specifically asked if there was anything else they needed and they said no they had all the forms they needed and once they deposited the check and the funds were available, they would send us a check. Two weeks later ( now the middle of XX/XX/XXXX ) I called them to see if the check had been sent out. They asked if we had had the 50 % inspection done. WHAT?!!! No one had ever said, on the phone, or in writing, that we should get anything except an inspection when ALL the repairs had been completed ( repairs were about 90 % completed at this time ). The person I talked to on the phone said she would file for an exception and an inspection. The exception was denied! Even though I have it in WRITING that once the endorsed check and all required forms had been received, the check would be sent. After the first inspection, the inspector sent them pictures and stated repairs were 90 % complete, and listed the few things left to be done. I waited two more weeks, expecting OUR money from them, to finish paying for the repairs on OUR home ( we have more equity in our house than what we owe ), then I called them again. This time I was told they would not send the check until after the 100 % inspection! This is NOT what I was told previously ( again both verbally and in writing ). How do they expect people to do the repairs if they wont release the money?! We did finish the repairs, got the 100 % inspection, and finally received the check TWO MONTHS after originally receiving the original check from XXXX XXXX. In the meantime, we had received two additional checks from XXXX XXXX ( totaling approximately {$3500.00} ). I knew there was no reason to send them to Loan Depots Insurance Claims Dept until after the 100 % inspection. Once that was done, I called them, told them about those checks and asked, since everything was done, if we could just send them to them to be endorsed and sent back. They said no, we would need to endorse the checks and send them to them. They would deposit them and once the funds were available they would send us a check. That was SIX weeks ago and we are STILL waiting for our money. When I called about it after about two weeks, I was first told that they were waiting for forms from the contractor. I came unglued! I informed them that those had been completed over two months ago and the 100 % inspection had been done ; everything was completed, everyone had been paid, except US! I was put on a LONG hold before the person returned and said she got it straightened out, would request the check be cut ( would take up to 5 days ) and then would have it sent overnight XXXX. I told her not to do that because we were going on vacation and did not want it sitting on our porch while we were gone. Instead I requested that they use the two day mailer that was already addressed to me and paid for by ME that I had sent them in XX/XX/XXXX to use to return the previous check, that they had never used. She checked to make sure it was in our file. It was and I was told it would be used. When we returned from our 10 day vacation, I expected to find the check in our locked mailbox. Nope! Dont know why Im surprised. Weve had nothing but problems, miscommunication, and downright lies from this company. I have asked NUMEROUS times to speak to a supervisor. Although I was assured each time that I would get a call from one within 48 hours, one has never called. Ive asked to speak to someone over the supervisors and was told a request was put in for that person to call me, I never received a call. When I called last week to find out where the check was, I was told it was mailed ( regular mail, they couldnt tell me why the two day, traceable mailer, that was in my file, was not used ) on XX/XX/XXXX. That was 10 days ago! Personally, I dont believe they even mailed it. I dont understand why they are holding onto OUR money ; they have no right to do this! If the tables were turned, we would be getting slapped with late fees and nasty letters ( weve never had to pay a late fee because we always make our payments on time ). I just cant understand why weve been treated like this! Our house being in shambles when we returned from vacation in XX/XX/XXXX, along with many valuables being stolen, was hard enough ; but having to deal with Loan Depot to get the insurance money that was due to us to complete the repairs was a nightmare, and is still! I now have to call them on Monday ( they said I had to wait 10 business days to see if the check they supposedly mailed showed up ), so they can put a stop payment on it and reissue another check. So again, that is another two month wait for our check. When I called last week I asked who I could talk to about all of this and was told that I would have to write a letter to be forwarded to the corporate office. If I did that, I highly doubt that it would ever get there. I am really hoping that you can contact someone at the corporate level and have them contact me. They need to know what is going on in their company, the complete lack of customer service, the miscommunication, and the delay in sending out checks. How do they expect people to do the necessary repairs to their house, if they dont release those funds?! We used insurance money from stolen personal property, instead of replacing those items right away, which we shouldnt have had to do!

Company response to consumer: Closed with explanation