Consumer complaint received 2024-03-05
Product: Mortgage — VA mortgage
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: LD Holdings Group, LLC (KY)

Here is my complaint, I am a XXXX veteran, XXXX XXXX and XXXX XXXX XXXX. I am having difficulty and financial losses due to my mortgage company. And now two days before the loan closes, I find out that they have sold my loan to another company. I have a contract with a couple who will make the loan current and assume my loan and pay all the fees. This contract started in XX/XX/XXXX. The loan assumption application was turned into loan depot in early XX/XX/XXXX, and we were assigned a loan specialist in the assumptions department I have spoken to her multiple times and started communicating with her on XX/XX/XXXX leaving messages that were returned on XX/XX/XXXX. In XXXX, I owed approximately {$20000.00} on the forbearance. Each month of delay adds another {$4000.00}. I explained this to each person I spoke with at loan depot and yet it took three months to even look at the application or complete a preapproval. In fact, I was told they do not do preapprovals in XXXX and then told they would complete one in XXXX, and I still dont have a preapproval. 

I believe they are delaying this process because Im XXXX and XXXX  I believe this because they have been unwilling to assist me in getting a loan to pay back the forbearance, unwilling to look at the application until XX/XX/XXXX and unable to even send me any preapproval for the buyers. I do not think that I should have to pay XXXX when they had the application and yet were not reviewing it for 3 months. I understand that they had some internal issues with staffing and a computer hack, but neither of those is my fault and yet I am having to pay for it. It comes off my profits on the home, so I am losing money. I believe they are delaying action intentionally ; They know how much this is costing me and now they have sold the loan a few days before closing. 

I am so disappointed in their lack of effort to review an application. Yet every week they can send me a letter stating I am in default and to contact them to set up a forbearance or other option. These letters are harassment and I asked them to stop sending these letters. I told them I am in a forbearance already and every time I get these letters, it states to call them. I called loan depot for the first few months, and now I do not read these letters anymore. It is unnecessary stress. 

I have been in a forbearance since XX/XX/XXXX. In XXXX of XXXX, I was off work due to my XXXX and returned to work in XXXX. At the end of XXXX, I took my XXXX XXXXXXXX and readied my home for sale. i moved to another state in XX/XX/XXXX. I was trying to sell my home and interest rates were increasing dramatically, so I was not getting much interest. Due to these high rates, my home was not selling. In XXXX, I decided to try to have someone assume my loan after getting the packet from Loan depot and verifying my loan was assumable. It is a VA Loan with a 2.25 % rate that can only increase 1 % /year in year 5 to a maximum of 7 %. 

In XXXX, my home went into a contract with potential buyers, and they completed and turned in the assumable loan packet in early XXXX and we were assigned XXXX XXXX, who was the only person in the assumable department, and she was unable to even look at the application until the end of XXXX or early XXXX. 

I have had many difficulties with this company. At first, the loan depot representative, XXXX XXXX told the buyers that they could not assume the loan because I was behind in payments. My realtor called me, and I immediately called XXXX and spoke to her stating loan depot knew I was in a forbearance and late with payments. XXXX did not call me first, just told the buyers this. I explained that my loan is not late, it is in a forbearance ( not late- owed but not considered late. ) I explained that I was told my loan was assumable and sent a packet to complete. She told me that she discussed case with underwriting and the underwriter reviewed my application thoroughly, and stated the loan is not current so it is not assumable. 

In XXXX, the buyers and I have a contract based on the assumption and the realtor has stopped most of the advertising. If the loan is not able to be assumed. Loan depot has wasted the month of XXXX and XXXX ( {$8000.00} ). Believing this loan to be assumable, we have started a contract and sent in an application and turned other interested people away. My VA representative called about 5 minutes after getting off the call with XXXX. I explained the issue and she was going to contact loan depot and get more information. That Monday, I received a call from the loan depot representative that my loan could be assumed. XXXX explained that the underwriter had reviewed the application and thought I was assuming the loan from my husband. I am XXXX XXXX, and I am the sole owner of the property. I do not know why the underwriter would think that after reviewing the application, and this confused me. I grew concerned that I would not be treated as well because I am XXXX XXXX XXXX XXXX XXXX, who recently became XXXX and could not pay the mortgage. I was concerned that I would not receive the same respect and attention that married couples who were working received. 

Every month this goes on another {$4000.00} is added to the loan. The loan depot rep stated she had to train two new employees and had multiple loans to handle before she could get to mine. Loan depot is experiencing staffing issues. I had requested a preapproval for the loan application since we could at least know if this loan could go through. I never received that information. XXXX had told me she could get to the application in XXXX. However, that did not happen. In XXXX, I received a message from XXXX that she was going to start working on the loan application this weekend. Then I heard about the Hack and the computers were down and no one could look at my loan. They have told me to apply for help in my state and I do not qualify for any of the programs because I am not living in the house or the state where the house is. I own another home, so I dont qualify due to that also. 

So, three months went by without anyone even opening the application for preapproval or any review whatsoever. In XXXX they started reviewing the application. I spoke with XXXX multiple times and left messages for her also. On XX/XX/XXXX, I left 2 messages with XXXX, and she still has not responded. 

In XXXX, I contacted loan depot and requested some assistance since I should not be charged for months that they delayed the paperwork because they were unwilling to properly staff the assumable department and had unsecured computers. This delay was their responsibility, and I should not be losing money due to their internal issues. I requested some financial help, like credited for some months since it was not my fault that they would not review the application for three months. I was transferred to a supervisor, and she stated she understood the issue, but they could not give me a credit or reimburse me. In fact, she told me I could request to end the forbearance and start making the payments. I had explained I was XXXX and no longer living in the home and could not make payments. So, I asked to speak with her supervisor because she was not listening to me or even acknowledging the problem. I have never been able to speak to her supervisor. 

Due to this delay, I have had to pay another {$300.00} for an expired XXXX  statement. The statement was originally purchased in XX/XX/XXXX and was only good for 6 months. So, I had to pay another {$300.00} so that the loan could close. 

Now I was told on XX/XX/XXXX by the loan depot representative that we are scheduled to close on XX/XX/XXXX. The buyers are wanting a printout of what they are paying off with the {$32000.00} that loan depot has requested from them. When they asked for this information, they were told by loan depot that they did not have authority to get that information since they did not own the home. I have sent in authorizations for both buyers to have access to my loan depot account the authorizations are in the account and uploaded. I know because I had to call and check 3 times and let staff know to check page number 2 also. 

Nevertheless, I went online and was going to have my last statement sent to them and saw a goodbye letter from them sent out in XXXX saying that they will no longer be taking any payments after XXXX. Loan depot has sold my loan and now I have to work with another company and hope that we can close soon. However, I doubt we will close. 

I believe I am being dismissed, discriminated against, and the assumption delayed because I am a XXXX XXXX XXXX XXXX XXXX. I can not believe the amount of mail I get from them stating Im in default and need to request a forbearance when I am in a forbearance. They will not stop sending the letters. It is a form of harassment. They can send all these letters but are unable to find the time to look at the loan application. 

I am probably going to lose these buyers and I want Loan Depot to make this right. I want the loan company to pay for their delay and credit my account. I want them to apologize for this awful customer service. I do not know if they have broken any laws, but due to their internal issues and practices, my bill has increased to {$36000.00}. This should have closed in XXXX when I owed {$24000.00}. And now everything is unknown since the loan is now being serviced by another company. They told me this morning that the VA investor was the person who decided to move it. I asked for his name and number and was told I would have to XXXX " VA investor '' and contact that way. So, my closing is now delayed, I will need to work with another company and Loan depot has again caused me to owe more money and will not take any responsibility for their inaction. I tried to call the new loan company ; however, I will not be able to talk with them until the XXXX when all the information has been sent over. I have called my VA loan representative and left a message. I have tried to contact the loan investor to see if they can help. They did dismiss me and did not respect me or care about my growing debt due to their inaction. This is not fair and needs to be addressed. 

I am not sure how the sale of this loan to another company will affect the closing and I am needing your help and assistance. I can not pay the mortgage and had a contract with buyers who were going to pay the forbearance, the realtors and assume the loan. This contract may fall through. They are destroying my chances of getting this assumable loan assumed. I have no rights or power over their internal issues, yet I am being charged $ XXXX for it. They should reimburse me and make sure this does not happen to anyone else. 

In summary, we have had a contract, and the application has been in since XX/XX/XXXX. They have been sitting on this application doing nothing due to staff shortages, training needs of new staff and unsecure computer issues. And now they have transferred the loan right before closing. I need your assistance and I am attaching the XXXX XXXX and XXXX statements, one of the many letters telling me to call to request a forbearance, and the transfer notification that i was not aware of until last night. If you need the {$300.00} receipt for the HOA payment, I will send that. I also have a list of all the dates I called loan depot if you need that. 

LOAN NUMBER XXXX New loan servicing agency XXXX XXXX number is XXXX I attempted to contact them, but can not get a person since the information is not downloaded yet. By XX/XX/XXXX it will be and I can create a portal. 

Loan Depot Representative # XXXX XXXX XXXX ( Assumption dept ) XXXX XX/XX/XXXX I left XXXX a message and have never heard back. 

Loan Depot Representative # XXXX Servicing Sr Processing Specialist XXXX XXXX XXXX @ loandepot.com XXXX XXXX ext XXXX XXXX XX/XX/XXXX. Just spoke with her today. She was not aware of the change either in loan servicing company. 

VA representative who is collaborating on the assumption XXXX XXXX XXXX ext XXXX I have called and left her a message, have not heard back. 



I do not know how this can be legal or allowed at all.