Consumer complaint received 2021-04-05
Company: LD Holdings Group, LLC
State: PA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
This is in regards to complaint number XXXX The response by Loan depot is again misleading like it was the bait and switch strategy they used at closing this mortage. Complete violation of Truth in Lending Act.. They quoted me for 3 months tax prepay at closing which is their usually tactic, while local lenders charge 9 months of prepaid taxes, Loan Depot undercuts the local lenders and once I financed they increased my monthy payment for an extra starting months 7 by {$510.00} to recoup their advance taxes ( since they had to prepay my taxes- however that is what mortgage companies are supposed to do and they make interest and charge fees for this benefit to consumer ). 
I did not sign for this HUGE mortgage increase over 9 months by 23.7 %!!!! I do not have to put down more than 3 months of prepaid taxes acording to the purchase agreement which is what was agreed in front of a notary. 
The response by Loan Depot is not correct and it is misleading. They state they forgot the local and city taxes. That is again a lie. I would have been ok with that increase because that was the only {$1300.00} difference between my total payment in the first year and the cost of the loan. 
For this plausible error, Loan depot would have only increased my mortage by {$220.00} for the last six months of the first year of payments XXXX XXXX I would have been ok with that. My payment would have gone up from XXXX to {$2400.00} for 6 months. However Loan depot increased my mortgage payment by XXXX ( instead of XXXX ) and for 9 months ( not 6 ). Loan depot had demanded for me a lump sum of {$4600.00} to be paid in addition to my mortgage payment of {$2100.00}, when the only discrepancy was {$1300.00}. This is again against the purchase agreement and far outside the small error they claim they made. They are requiring me to pay an additional {$3200.00} that I DO NOT OWE THEM. They are trying to get me to prepay taxes in addition to the 3 months I agreed to prepay at closing just because they do not like advancing the taxes they agreed to advance and recover their taxes later. I would be happy to exit this escrow account and take care of my own taxes because I am being held hostage to my credit score by Loand Depot, but they would not let me cancel my escrow account. 
They did not reply to my correspondence, their complaints office is not taking calls and the {$510.00} they allegedly gave back to me did not happen. U did not hear back from LD in any form. At present I overpaid my mortgage adminstration cost by {$630.00}, because I already paid {$2000.00} instead of {$1300.00}. 
I WANT YOU TO TAKE YOUR ROLE SERIOUSLY AND INVESTIGATE THIS because Loand Depot response was a lie and you closed the complaint without getting back to me. I do have a XXXX in business and understand finance and contract law, have several yars of analytics and I am taking this company to court and possibly starting a class action lawsuit for truth in lending violations. IT IS MINDBLOWING THAT THIS COMPANY CAN BE THIS UNETHICAL TO MISLEAD CONSUMERS ABOUT THEIR COSTS AT A TIME LIKE THIS WHEN PEOPLE ARE HURTING> I am going to put ample time in going to the bottom of this and your agency better do what is supposed to do and you should communicate to me before closing a case. I have more analytics background than anyone involved in this discussion so please do not underestimate this complaint. This will no go unlitigated! Because it affects a lot of people who do not have my analytica background and it is profoundly unethical behavior. 
I owed them an additional {$1300.00} which was their mistake, but they coerced me to pay

Company response to consumer: Closed with explanation