Consumer complaint received 2022-11-09
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: Parkstone Mortgage, LLC (TX)

I was supposed to close on my new home at the end of XX/XX/XXXX. On XX/XX/XXXX I received a phone call from the lender at Parkstone Mortgage - owned by XXXX XXXX. He told me that I no longer qualified because rates had doubled. I asked if there was anything I can do and he said no. I never received any further email, denial letter, adverse notice, explanation, in the mail from the lender. I asked XXXX XXXX for my deposits back at the end of the month because the lender didn't have any further help for me. I left him messages but no response. The sales rep told me that they had sold my home to someone else for a lower price and that they " took a loss ''. This home was barely completed and they never advertised it for sale on the XXXX. Why was it sold for aa loss? Was I really not approved? Why didn't i receive anything in the mail explaining that I was no longer approved and why? Shouldn't they have formally communicated with me? Then they just kept my money. Then after all of this, the builder was going to give some of my {$51000.00} deposit money back but decided not to because : XXXX XXXX XXXX sales rep - XXXX XXXX -called and told me that they never received one of the checks that I gave to the design center back in XXXX of last year ( XXXX ) for {$31000.00} - check number # XXXX. I immediately sent over the receipt from my bank XXXX XXXX XXXX XXXX XXXX of the cleared check that cleared on XX/XX/XXXX of XXXX. I called XXXX XXXX XXXXXXXX ( my bank ) and they confirmed that yes it was indeed cleared and deposited at that time by someone with an account at XXXXXXXX XXXX. I then went through my emails and found the emails from XXXX XXXX at the XXXX XXXX XXXX XXXXXXXX asking me to mail the check to their address, " Attn to XXXX XXXX '', payable to XXXX XXXX. I did exactly what their agent, XXXX XXXX, asked of me. I sent the check and then I followed up to make sure that everything was good. She even confirmed in a subsequent email that my account has been credited. This is someone working on the behalf of XXXX XXXX and acting upon the authority of XXXX XXXX. Then, several times over the next 10 months, I was sent documents showing that I had this money credited to my account by other agents of XXXX XXXX including the lender at Parkstone XXXX who is owned by XXXX XXXX. No one ever told me that they did not have the money that I paid. I have spent hours on the phone with the fraud department with XXXX XXXX XXXXXXXX, on hold, being transfered, telling my story over and over again. I have filed a report with the XXXX Police Department. I have filed a report with the office of the Texas Attorney General. I called and visited with a manager at XXXXXXXX XXXX and they told me that they can not give me details of the owner of the account that deposited my money fraudulently and illegally. I am a single mom and also a realtor who needs help. No one is investigating this. I keep calling the police and my bank 's fraud department and no one is doing anything. 

I feel very taken advantage of and like their is zero consumer protection of a buyer 's deposits with a home builder. If interest rates go way up, that is your problem and if you no longer qualify, the builder will keep all of your money. Buyers need to beware of contracting on a to be built home until more consumer protection exists. We are currently living in the wild west as consumers dealing with home builders that are heartless and have every advantage and ability to keep your money. Everything is in the builder 's favor due to lobbyists.