Consumer complaint received 2023-07-13
Company: Finance of America Holdings LLC
State: PA
Product: Mortgage
Sub-product: FHA mortgage
Issue: Trouble during payment process

Complaint:
This is my second complaint because I am not satisfied with the solution you have given for complaint number : XXXX This is to expose Finance of America for the predatory lender that they are ; hoping that someone would at least look into their fraudulent business practices as I am sure I am not their only victim. I would like for your office to help me get some sort of fairness in my situation. I want my mortgage to go back to {$1300.00}, at 4 % interest rate as it was when we asked for the first loan modification. The first modification was due to Finance of America 's HUD inspector XXXX XXXX approving a budget that he said was not adequate for the job that was required. So we asked for modification to off-set the budget. Then XXXX XXXX recommended a contractor who he has paid for things that were unnecessary and incomplete. We were given a completion date of XX/XX/XXXX. The contractor stopped communicating at the end of XXXX. Therefore we decided to move in under construction on XX/XX/XXXX. When we moved in, all the plumbing leaked. We asked for another loan modification again so we can pay to resolve the issues. The HUD inspector had paid the plumber and said he was justified in doing so. He also paid the electrician who has wired everything wrong. There are XXXX outlets, XXXX LED lights and XXXX smoke detectors on ONE XXXX amp breaker. We are having too many electrical issues to have spent $ XXXX, and then the electrician will not come back without a service fee. And this is ok with the bank 's inspector because he agreed to pay the fee. We paid interest on $ XXXX for a year that we were not able to use. Now we are paying interest on $ XXXX that has been put on hold by Finance of America because I filed a complaint with the Consumer Financial Protection Bureau. As it stands we have only used {$210000.00} out of the {$240000.00} loan. I am asking that my modification allowance be restored to zero as we are only allotted two modifications throughout the lifetime of the loan, and it was of no fault of our own that we had to exhaust the modification opportunity. I also want my mortgage to return to {$1300.00} @ 4 % interest as it was in the first modification. 

The reason I feel I am a victim of predatory a lender : My daughter purchased a house in XXXX. She gave me Finance of America 's XXXX XXXX information, he recommended the realtor XXXX XXXX Realtor. Who recommended XXXX XXXX XXXX XXXX who grossly under bid the contract, and breached the same contract Then Finance of America 's HUD inspector XXXX XXXX recommended XXXX  Contractor, who he has paid for unnecessary and incomplete work When talking with XXXX XXXX I told him I only wanted to spend $ XXXX. When his realtor was " unable '' to find anything I liked XXXX XXXX said " you can go up to $ XXXX ''. Then XXXX XXXX found this property, but it would take more than $ XXXX to purchase and complete the project. Then the loan amount soared to $ XXXX. It has become very clear to me that I have been victimized by predatory lending. XXXX XXXX did not diclose that there was a XXXX XXXX XXXX XXXX XXXX XXXX in this property, and when I found out I had already given a $ XXXX deposit and was told if I pull out on the purchase I would not get my deposit back. 
XXXX. The broker recommended the realtor. 
XXXX. The realtor found the house and the XXXX, who breached his contract XXXX. The HUD inspector recommended the second XXXX who has not completed the work but has been paid This has predatory tendencies all over it and a whole lot of conflict of interest, nepotism, and fraud.

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