Consumer complaint received 2015-09-28
Product: Mortgage — FHA mortgage
Issue: Credit decision / Underwriting — 
Company: Freedom Mortgage Company (CO)

To whom it may concern : In XXXX of this year I initiated a loan request to purchase a home. I have jumped through hoops to satisfy the bank we are dealing with. We had a credit card that had not been paid for {$1100.00} that they required we pay off. We paid that last Friday thinking that was the last hoop to jump through. Then they required that we deposit XXXX house payments with the bank to get approval. In addition we already made a down payment of {$4800.00} and {$100.00} in earnest money. Also paid for the appraisal. 

The house was originally priced at {$130000.00} by the realty company but has been reduced to {$130000.00} to meet the lower appraisal. We are requesting a 30 year loan which when the down payment is applied the loan will be less that {$130000.00}. Short of requiring our youngest child to be used for collateral we have done all we can to meet this requirement. 

We may not be the perfect or usual?? American family. We have XXXX children and we are both in college. XXXX has completed his first 2 years of college in XXXX and recently graduated. He is attending college part time working towards a XXXX and had has a permanent full time position as a XXXX. 

I am also enrolled in college pursuing a degree in XXXX XXXX XXXX. 

Our landlady is putting up our house for sale. At the time we leased from her it was difficult to find adequate housing because of the number of children. We rent a XXXX bedroom XXXX XXXX bath house with a large fenced yard for {$900.00} a month. The house is well kept in a nice neighborhood. In addition, the house has a large yard fenced in back yard with a garage and oversized patio. Perfect for our family. 

Schools are nearby as well as shopping and access to highway and major streets for easy commuting to and from work, shopping, library, hospital and other services in the community. The perfect house for a low income family and an opportunity to raise our kids in a no crime area. 

We have had challenges and have responded honestly and transparently and yet we are unable to get approval for this loan. We have had a closing date since the XXXX of XXXX and every few days are we are given a potential new date. This last request added on at this time to deposit 3 months of house payments which we did seems a ploy to sabotage us and discriminate against us and prevent us from getting a loan at all costs. At closing they are still requiring taxes and insurance in addition to whatever other fees they discriminately impose whether usual and customary or not. 

We are forced to form an alliance with our families to provide monies to now comply with any other financial requests. I respectfully request your assistance and let me add that time to ask start this process all over again with a new application with a new bank is not an option for us as we have put the landlord/owner off time after time. As they continue to ask for more and more information and documents we have to continue to pay rent. Thank you for taking the time to look into this. 

Thanking you in advance, XXXX XXXX