Consumer complaint received 2020-04-13
Company: MONEY SOURCE, INC., THE
State: GA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
On XX/XX/XXXX, I received an official notice from the City of  XXXX stating that the second half of my CITY property taxes remained unpaid and unless paid promptly, a lien would be placed on my property. I immediately reached out to my mortgage company , The Money Source by phone and asked them why the taxes weren't paid from my escrow account ( taxes and insurance are escrowed in case ). They stated that they had recently purchased the loan from another mortgage company ( XXXX XXXX XXXX ) and did not have access to all of the details yet on my loan. They requested I send over, via fax, the notification from the city as well as a copy of the unpaid bill and stated they would " research it ''. I immediately requested the bill from the city, which had to be mailed to me. On XX/XX/XXXX, after receiving the bill I faxed the notice and bill to the fax number provided and received a confirmation of receipt. The very next day, XX/XX/XXXX I received a similar notice from my county tax office ( XXXX County ) stating they too have not received a property tax payment for the second half of XXXX. I faxed that notification and bill to the same escrow account fax number at The Money Source, receiving a confirmation of receipt. At that point, I made a phone call to The Money Source and voiced my concerns and asked that someone immediately investigate. The representative stated that they would investigate to verify the bills had indeed not been paid. They went on to say the investigation could take as long as 10 days. And finally she stated that if I did not hear back, that meant all was well and the taxes would be paid! Two months later on XX/XX/XXXX, I received a notice that a lien had been placed on my home and it was to be sold on the courthouse steps on XX/XX/XXXX for failure to pay property taxes. I immediately called The Money Source and asked them what was going on, asked them why the bills weren't paid. They had no record of my XXXX correspondence. Seeing that my escrow account had more than {$13000.00} in the account with no payouts, they knew they were at fault. In addition, at this point, I had received a notice from my homeowners insurance company ( XXXX XXXX XXXX XXXX ) that my insurance had been cancelled as well due to nonpayment. The representative located all of my documents that were faxed in XXXX and assured me I would receive a prompt response and resolution, again after a 7-10 day investigation. She stated that the best way to handle the insurance cancellation was to speak directly to that department of The Money Store directly - she transferred me. A woman answered, looked into the account, place me on a brief hold while she said she was going to call my insurance company and get it straighten out. She came back on the line, stated that my insurance company had sent a bill and that The Money Source would pay it immediately. In late XXXX, The Money Source requested information from our insurance provider, which we provided on XX/XX/XXXX. I began following up on the daily but at this point the COVID-19 pandemic had hit and they stopped answering phone calls. I have waited for 7-10 days, 2-3 hours each day on hold waiting for a response. And nothing. On XX/XX/XXXX, I received a notice from The Money Source stating that because I have no insurance, they were going to provide " their '' insurance at " an elevated rate ''. Again, I kept calling The Money Source, as did my insurance agent and nothing. Just endless hold. No answers. So now there are even more problems. I need to get some assistance with my mortgage as the COVID-19 disaster has hit me and my three business devastatingly hard. I also need assistance from the SBA 's disaster loan program but am worried because one of the questions on the application asks if " I currently have any liens against '' which will disqualify my application. I have frantically called, emailed and faxed ALL OF THIS TO THEM and ZERO RESPONSE. I understand they are overwhelmed by the pandemic but there is NO EXCUSE for their negligence from XXXX to XXXX. I need immediate help!

Company response to consumer: Closed with explanation