Consumer complaint received 2023-10-27
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Delays with the closing process
Company: Hernandez R E Services (CA)

This complaint is against my loan XXXX, XXXX XXXX XXXX # XXXX, his broker XXXX XXXX XXXX # XXXX and the lender XXXX  XXXX. On XX/XX/2023 we opened escrow to buy a home in XXXX XXXX, CA. I used my loan XXXX XXXX XXXX and XXXX XXXX to help me secure a loan for my first purchase and they went with XXXX lending due to my type of loan as I am self employed. We were due to close on XX/XX/2023. As far as I knew the loan was moving along just fine with some slight hiccups on the seller side with the appraisal. On XX/XX/XXXX the seller had demanded we release the loan and appraisal contingencies as we were behind on releasing both. He threatened to cancel escrow and he served my realtor with notice to perform papers. That same day, XX/XX/XXXX at XXXX I had received a call from XXXX informing me that XXXX  XXXX  had lost it's CDFI certification earlier that week and we were just being notified days later. He told me that he would speak with XXXX and let me know later that day if we were clear to close and the loan would be funded before I signed the contingency release. I agreed that without any guarantee that they were clear then I wouldn't sign. At XXXX he called to update me. He said that his broker XXXX was friends with the investor at XXXX and that my loan would still be funded and if it didn't go through then we would get our {$32000.00} deposit back and if XXXX lending didn't give it back he would pay it himself. He told me that I needed to verify XXXX more piece of my funding and when that was good we could release all contingencies. At XXXX I was told we were good to sign and release. So we did. To my surprise on Monday, XX/XX/XXXX the lender was still asking for more information on the loan but we should close by Wednesday. I kept being reassured that everything was fine and we would close. I began to pack my home up. My notice to move out of my place was sent. We just kept being told docs were ready to go out. They told me, my realtor and the seller that it would close. Then XXXX XXXX  was served a cease a desist and all loans had to be stopped. We were now days past our close date. My belongings had to be moved into storage and the seller was growing tired of being told " any day. '' On XXXX  XX/XX/XXXX I again was told that we were clear to close and docs were being sent to Escrow that day. That never happened and once again the seller grew angry. On XXXX  XX/XX/XXXX the seller canceled escrow and we lost the home. XXXX and XXXX continues to tell us and the seller that they would still try to close the deal. Making everyone believe that it may still happen. After another week of this I finally had to tell them no more. The seller had started remodeling the home with our money and we were left hanging out to dry. When I asked XXXX about the money he promised I would get back he just kept saying the attorney at XXXX XXXX  has the file now. XXXX and XXXX sent me to go after XXXX XXXX, which I have had XXXX contact with at this point. They got me in touch with the attorney there which at first failed to respond and when I reached out again weeks later I was told " we have the file and are reviewing it. '' This should absolutely not be allowed to happen to any consumer. We hire professionals to protect us in these transactions. Instead my money was gambled with, lost and then walked away from.