Consumer complaint received 2024-08-31
Product: Mortgage — VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Trying to communicate with the company to fix an issue with the application process
Company: Village Capital & Investment LLC (IN)

Subject : Urgent : Unjust and predatory practices by Village Capital Dear XXXX, I am a 100 % XXXX veteran and I am reaching out to you with deep concern and frustration regarding my ongoing experience with Village Capital, my current mortgage holder ; My situation has escalated over this past year, and I believe it is imperative that you understand the gravity of what I've been subjected to : In XXXX of XXXX, I began the process of refinancing my home. Initially, I was advised to withhold my XXXX payment, as we were assured that closing would occur within days. Unfortunately, the loan fell through, and I found myself in a precarious position. I was then introduced to XXXX, who worked tirelessly to secure a new loan for me. But, despite her efforts and multiple communications with my creditors, the loan never materialized due to unforeseen obstacles. 

During this time, I reached out to Village Capital 's loss mitigation department to arrange bringing my account current. I followed through on the agreed-upon terms, yet my XX/XX/XXXX payment was inexplicably placed in " suspense '' and not honored until after 30 days, putting me in arrears through no fault of my own. 

Now, a year later, in an attempt to refinance again, I was denied due to a XXXX late payment that was in reality not late at all ; This situation has continued to spiral out of control. In XX/XX/XXXX, following an audit by Village Capital, my monthly payment suddenly jumped from {$1400.00} to nearly {$1700.00}. I paid the regular amount and separately covered the {$270.00} difference. By XXXX my payment had inexplicably risen to {$1800.00}, despite no legitimate in my insurance or property taxes. In fact, both had in fact decreased, which I confirmed directly with my insurance provider and the county assessor 's office. 

On XX/XX/XXXX, I received a call from Village Capital 's collection department demanding {$4000.00}. The following day, Village Capital called offering an in-house refinance, suggesting they would drop the discrepancy - an offer that only added to my confusion and distress. Now, despite my mortgage documents clearly stating a regular, fixed, payment of {$1400.00}, I am being asked to pay {$1800.00} plus an additional {$490.00}, with no clear or honest explanation. 

It seems clear to me that Village Capital is engaging in predatory practices, exploiting the most vulnerable, including veterans like myself. My sole source of income is my VA benefits plus XXXX Social Security, which Village Capital already takes 25 % of. The stress, heartache, and sleepless nights caused by Village Capital 's actions have become overwhelming. I believe Village Capital is attempting to force me out of my home by any means necessary, and this is something I can not, and will not, stand for. 

As a veteran who has served this country, I refuse to be bullied, abused or taken advantage of. This is not just about me, this is about protecting all veterans and homeowners who may be facing similar harassment. I firmly believe that Village Capital should be removed from XXXX XXXXXXXX, and I will be pursuing all avenues to ensure that justice is served. 

I have compiled extensive documentation, including payment history, letters from my insurance and tax offices and all relevant correspondence with XXXX XXXX. I am prepared to share this evidence with the VA and any other relevant authorities. 

This situation is intolerable, and I am seeking a resolution that not only addresses my case but also sends a clear message to XXXX XXXX and any other lenders that such treatment will not be tolerated. I urge you to take immediate action and to rectify this situation and protect those who have served our country eith honor. 

Thank you for your time and attention to this matter. I look forward to your prompt response. 

Sincerely