Consumer complaint received 2024-11-24 00:00:00
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: Freedom Mortgage Company
State: NJ

Complaint narrative:
In XXXX XXXX, my home was destroyed by water. The insurance company paid over {$20000.00} to myself and Freedom mortgage. I have been trying to get them to release the second portion of the money and they have come up with every excuse for over 2 months. The home is not habitable and now the bathrooms are torn out. There is no floors, walls or ceilings, no plumbing, no hot water and the contractor has left the job until they release more money. They have the money since XXXX, gaining interest and not releasing any more than {$9200.00}. I had to put in {$800.00} myself so he would start. He already put out {$3000.00} of his money just to keep going, but now took on another job because, they first wanted an inspector to see his work. The inspector they chose was on the XXXX XXXX and did it remotely by having the contractor sending pictures. They said they wanted pictures of the house set up with furniture which was impossible with no floors and walls. Meanwhile I am living as a XXXX  for 11 months with no permanent place to go. The insurance company says they will not reimburse for housing and meals any longer and the contractor can't finish and get a CO for me to move back. I can't even refinance to get money to finish the job out of my own pocket. I am on Social Security XXXX and am struggling every month to pay the mortgage and my living expenses. It is 11 months and I have had it. Now they want a materials list from the contractor. He sent them one. They rejected it because it was not typed. Then the wanted it from a dealer. The contractor has been gracious to try to supply it. This is just a delay tactic, meanwhile my home is still a disaster and getting worse every day. This is more than I can take. I am turning to you for help. They have the money and are just gaining interest on it without releasing it. The insurance would only pay {$30000.00} of the {$68000.00} of damage. I will have to obtain a home Equity loan for the balance, but no company will take on this property being in such terrible condition. If they release the rest of the money, the contractor says he can get it into a condition where they will refinance it. I can't believe I have to fight for money they are holding in escrow gaining interest and I have to be miserable for over a year living in a temporary place. Please give me options to get this done. I will be dead before I will be able to go home. I worked for over 50 years to retire and enjoy what I have left, and Freedom Mortgage is just keeping my money. I spend no less than 4 hours a week trying to get them to release the money. I have spoken with every supervisor in loss draft and get nowhere. They say we are still waiting. So am I. They received all that they requested, and I am still on hold. I will have to wait until the contactor can fit me in again to finish. If you think I need an attorney to get this done, please let me know and I will also sue them for his fees. I am on Social Security and can't afford to pay anything because what I have, I use to survive. I need some guidance. Another XXXX stuck in a room without a place to live. Thank you.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation