Consumer complaint received 2017-09-01 00:00:00
Product: Payday loan, title loan, or personal loan — Personal line of credit
Issue: Struggling to pay your loan — 
Company: Security National Financial Corp
State: TX

Complaint narrative:
I purchased a home in XXXX of XXXX. I found the home on XXXX and was recommended SXXXX XXXX XXXX XXXXy ( XXXX ) as a lending company for my mortgage. The loan officer that handled my purchase was XXXX XXXX. He worked for XXXX and the process of purchasing the home went fairly well. A couple weeks after I closed on my home, XXXX XXXX invited me to a celebratory lunch. This was the first home I have ever purchased and thought that it was a common thing. About 20 minutes into getting to the restaurant, XXXX XXXX presented to me an opportunity that he had received from XXXX to be the primary lender for XXXX XXXX and in order for him to get this contract it would cost him {$160000.00} up front and it was for 18 months. After having complete access to my financials under the employment of XXXX, he knew that I had what I consider quite a bit of money saved up and asked that I loan him the {$160000.00} to get the contract. He presented an email to me with correspondence going back and forth between him and XXXX, which turned out to be fabricated by XXXX, talking about the contract to be the premier lender for XXXX XXXX, the cost, and the deadline for it to be paid. Being a consumer, not a lender nor having ever lending money in the past, I obviously fell right into his trap and ended up loaning him {$100000.00} with the agreement of him paying me back {$120000.00} that he would receive from his father taking out a cash loan on his home. This was to be paid back on XXXX XXXX, XXXX. There was 2 additional options laid out in our contract to pay me back. The 2nd option was to sell his home, which I came to find out after the fact that he never owned the home, and the 3rd option was he would pay me {$10000.00} a month for 15 months until of {$150000.00} was paid in full. If having to go the route of monthly payments, the agreement was the balance due back to me would be {$150000.00}. He also gave me the title to his XXXX XXXX. As XXXX got closer, the stories began. I have all the conversations documented and saved due to communicating via text mostly. Please forgive me for including too much information as I just want to make sure I am as descriptive as possible and include all the details and facts that I have On XXXX XXXX 2016 a XXXX XXXX stated that the appraiser of his Dads home put a footnote in his appraisal that the home could have structural foundation issues but that he ( the appraiser ) was not qualified to make that assessment and so the underwriter said that XXXX and his Dad would need to get a structural engineer out to the house evaluate the foundation. The transaction could not be funded until the engineer gave a thumbs up. XXXX stated that he thought he could get an engineer out there within 48 72 hours and once it was resolved they would close and he could pay me back. He stated he would know more in 48 hours. 

On XXXX XXXX 2016 at XXXX XXXX I texted XXXX asking if he had any update from the XXXX. XXXX responded to me at XXXXXXXX XXXX stating that the engineer was going to be out at the house the next morning XXXX XXXX XXXX ) at XXXXXXXX XXXX to complete his on-site review and then he would prepare his assessment statement which was a formal write-up of his findings. XXXX stated that he had been through 2 3 of situations in the past and usually could get at least an idea from the engineer if he was going to give the all clear or if hes going to assess that something needed to be fixed. XXXX stated that he would either say its completely fine or that there was a small foundation issue that needs to be addressed and his father would need to get that taken care of before the engineer could sign off on it. XXXX stated that if anything needed to be fixed, he could get bids very quickly. I responded to him asking if there was any concerns with his father being able to get it fixed if there happened to be a problem. He responded saying that he only potential bump he could foresee is if the repair cost more than what his dad had access to. The repairs had to be done before the closing. He stated that, one way or another Im getting this money back to you this wouldnt have been an issue before the government became so regulatory and compliance crazy, more to come soon.. 

On XXXX XXXXXXXX XXXX at XXXX XXXX texted me stating that he was switching car insurance companies and asked if there was any way I could scan a copy of his title to show the new company that he wanted to switch over to. The company just needed to see the previous owner and the mileage when he bought it. I stated at that time that I would send him a copy, but after thinking about it more, I decided not to as I felt it was not good for me in my position to had him back a copy of the title. 
*This was the last time any conversations came up about him needing the title. I also find out later down the road that I was not the only one he had given a copy of his title out to. * On XXXX XXXXXXXX XXXX at XXXX I texted XXXX asking how the meeting went with the engineer. He responded at XXXX he had such a rough day, had attended 2 funerals so obviously didnt have a lot of free time and was out of the office most of the day. He stated that he waited around for 45 minutes for the engineer to show up and he never did. He then stated at XXXXXXXX XXXX the engineers office returned his call that he made earlier in the day when the engineer didnt show up stating that the engineer had a XXXX XXXX and was unable to do the inspection. He was going to reschedule it for Sunday the XXXX or Monday the XXXX depending on how nauseous he felt on the XXXX. 

On XXXX XXXX at XXXXXXXX XXXX XXXX texted me stating that he talked to the engineer and he assured XXXX he would be out there on Tuesday the XXXX at XXXXXXXX XXXX and he was going to meet him there. 

On Wednesday the XXXX at XXXXXXXX XXXX I texted XXXX asking how the meeting went on the XXXX. He immediately responded stating that it went good but someone had just hit his car and he would write back in a bit *This also turned out to be a lieXXXX Later that day at XXXXXXXX XXXX I texted XXXX asking if he had a minute to give me an update on how the meeting went. I was looking to buy a car and wanted plan out my financial situation before doing so I was I was starting to rely on these funds that he owed me. He responded stating that he met with the engineer and did measurements and said that there was a slight drop in the pier and beam foundation in the middle of the house. The engineer stated that it was enough of a drop that it needed to be addressed and was going to recommend 2 companies to him so they could go out and give quotes for the work and stated they worked very quickly. XXXX said he was going to try to set those up for the weekend coming up. He stated that as long as the quotes werent horrendously expensive, everything would be fine. He was going to set them up to be there that weekend and also be prepared to do the work at that time as well. He stated that assuming the work could be completed at that time, the funds would be available around the XXXX XXXX of XXXX and he would let me know as soon as he got another update. 

On Monday XXXX XXXX at XXXX XXXX XXXX texted me stating that the foundation companies were swamped because of all the business in XXXX Texas but the second company assured him that they would be out on the morning of Friday the XXXX. As long as it wasnt a really big job, they can have it completed by the end of day Saturday. 

On Monday XXXX XXXX at XXXX pm XXXX texted me after I called him for an update. He said that he couldnt talk on the phone as he was at his daughters marching band competition. He stated that the company went out on Friday and their estimate took 3 hours and ultimately came back with a quote of {$23000.00} which blew him out of the water. He said he was having a second company come out on Thursday XXXX and if their quote came in around the same, he had already asked his dad if he could try and get a separate loan from the bank just for the {$23000.00} to cover the repair. He stated that due to it dragging out, he suggests that he start paying me back monthly while waiting for it to clear up. I responded stating that I agreed with making monthly payments and asked if he would like me to pick up a check from him. 

On XXXX XXXX at XXXXXXXX XXXX XXXX stated that the bank wanted his dad to finish up his XXXX business tax return first so he was going to get with his CPA. His first payday from the XXXX accounts he acquired from the contract were beginning to close was at the end of XXXX but his XXXX was in an XXXX and developed a XXXX XXXX in XXXX XXXX so now she was in XXXX XXXX and  not able to march in the band ( which is what she was on scholarship for ) so he had to pay 50 % of the remaining tuition because the school ( XXXX ) was expecting that she would lose her scholarship due to not being able to march and play her French horn in the band until physical therapy made more headway. He stated that his next big pay day would be on XXXX the XXXX and he could definitely give me a check then. 
*again, all this was a lie. His daughter was never in an accident. * On Tuesday XXXX the XXXX at XXXXXXXX XXXX I texted XXXX asking if there was an update on his dad getting the loan for the foundation repair. He stated that his dad had spoken with his CPA and he would try to have it finished up by the end of the week. He stated that he thought a week from that coming Friday he should have the loan in place for the repairs. 
On Tuesday XXXX the XXXX at XXXXXXXX XXXX I texted XXXX asking if his dads CPA was able to get his return wrapped up. He responded saying yes and just needed to follow up with his Dad on an updated timeline. 

On Thursday XXXX the XXXX at XXXXXXXX XXXX XXXX texted stating that the CPA was finished and they were getting the paperwork over to the bank. 

On Friday XXXX the XXXX at XXXXXXXX XXXX I texted XXXX at XXXXXXXX XXXX asking if there was an update. And he responded saying he was working a triple back to back closing and would get back with me. 
On Monday XXXX the XXXX I hadnt heard back from him so I texted him at XXXX XXXX asking for an update and he stated that he had one but was trick or treating and would contact me the next day. 
On Thursday XXXX the XXXX I had not heard back from him so at XXXXXXXX XXXX I texted him asking if we were going to move forward on making a monthly payment the next day. XXXX responded saying that the bank and lent his father the funds needed to make the repairs and that had begun. The repairs were tentatively scheduled to be completed on Friday the 4th. He stated that he would be able to pay me back in full on Monday the XXXX at the latest. He stated that prior to the bank loaning the money he had given the foundation company {$12000.00} to get them started so asked if we could wait until the XXXX to pay in full because he gave the foundation company the money he had set aside for me thinking that it would be better to just pay back in full. 

On Wednesday XXXX the XXXX at XXXXXXXX XXXX XXXX texted me stating that the repairs took longer than expected and they didnt finish up until the XXXX, pushing back the final payoff to XXXX the XXXX. 
On Saturday XXXX the XXXX at XXXXXXXX XXXX I texted XXXX asking if the CD went out on the XXXX as anticipated. He responded on the XXXX stating that his dad has a XXXX and they did not release the CD as they were waiting to see if his dad was actually going to live or if he could sign competently for himself. He stated it all happened on Saturday XXXX the XXXX. He stated that his dad should be released from the hospital the next day. Due to the circumstances and not knowing how long it would take to sort it out, he asked that we look at doing the monthly payments again. 
*This was also a lie, his dad never had a XXXX. I know this because I confronted his Dad at his Shoe store in XXXX XXXX. * On Tuesday XXXX the XXXX at XXXXXXXX XXXXXXXX texted saying that he could meet me on Thursday. On the XXXX he texted me saying that his dad was being rushed to the hospital and he may have had a relapse. 
On Tuesday XXXX the XXXX at XXXX after not hearing from XXXX since the XXXX, I texted him asking how things were going and if he had the check ready for me. He stated that he knew he owed me a check and he would like to get it to me so we agreed to meet on Monday the XXXX. 
On Sunday XXXX the XXXX at XXXX XXXX XXXX texted me stating that his wife and XXXX kids were sick and needed to take them to the doctor on Monday the XXXX which is when we were supposed to meet so he could give me a check. He asked if he could just overnight it and I agreed. 
On Thursday XXXX XXXX at XXXXXXXX XXXX I hadnt received the check yet so I texted XXXX asking if it was sent. He stated that he would have his assistant get the check out to me on Friday the XXXX. 
On Thursday XXXX the XXXX I still hadnt received a check and texted XXXX requesting that we meet and discuss the situation in person to figure out what needed to be done to get back on track. This was now going on 3 months past the date he was supposed to pay me back in full and neither of the other 2 options had started. He responded stating that he was in XXXX because his XXXX XXXX  had XXXX and XXXX XXXX XXXX so asked that we meet on Tuesday the XXXX. 
I didnt hear from XXXX so I texted him on Wednesday XXXX the XXXX asking what his day looked like the following day. We met on the XXXX and re-wrote our contract laying out what the monthly plans would be. Since it was now determined that monthly payments were going to be made, the total payback to me was going to be {$150000.00}. The first payment was to be made on Friday XXXX the XXXX. 
On Thursday XXXX XXXX at XXXX XXXX XXXX texted me stating that there was a payroll change with his company and instead of being paid via direct deposit, he was now getting a live check and asked that the payment be made to me on Monday the XXXX. He texted me on Friday the XXXX stating that he had the check was going to the bank to deposit it. 
On Tuesday the XXXX at XXXXXXXX XXXX I texted XXXX asking if the wire was going to happen that day and he responded stating that the bank wanted to put a 7 day hold on his check due to the size. On Wednesday the XXXX he wired me {$3000.00}. The next payment was due on XXXX the XXXX XXXX Monday XXXX the XXXX at XXXX am XXXX texted me stating that it was a federal holiday so his paycheck would not his bank until the XXXX. He stated that he was notified that his step daughters father did not pay his portion of her spring tuition and asked that he pay me the {$5000.00} payment he owed on the XXXX or XXXX when he got his tax return. I pushed back on this and he suddenly remembered that he was getting his bonus on his paycheck and would have the funds. On Tuesday the XXXX he deposited {$5000.00} into my bank account. 
On Monday XXXX XXXX at XXXX XXXX I texted XXXX because I had not received the wire for his monthly payment. He responded saying that he sent the wire and he had the confirmation number at his office and would send me a copy of it the next morning. He stated that he sent it pretty late so he wondered if that is why it didnt post. 
On Tuesday XXXX the XXXX I sent him a message at XXXX XXXX  after not receiving the confirmation number from him nor the wire. He responded stating that he received an email from his bank stating that was pending bouncing back. He suggested that maybe he transposed one of my account numbers, but he was going to go to the bank on the morning of the XXXX and get it sorted out. 
On Wednesday XXXX the XXXX XXXX sent me a message asking that I call him. On the phone, he stated that he decided to leave his company for a better opportunity and asked that I give him an extension on his payment. 

This is when the truth really started to come out. I received an email from XXXX ( at that time, his previous employer ) notifying me that he was no longer with the company. Because of my uncertainty due to all the events of our agreement I asked if XXXX left on his own terms of if he was terminated. The response I got at that time was all they could say is he was no longer with the company and not eligible for rehire. I later found out from XXXX that he was let go due to a loan shark walking into the office with a XXXX on his hip confronting XXXX about the $ XXXX he owed him as well. At this time, I also found out that the premier lender XXXX contract was fabricated by XXXX, the loan that his father was apparently taking out on his home was a lie, and just about everything else XXXX stated throughout our conversation was a lie. At that time I told XXXX that he had 30 days to pay me back in full. He technically owed me {$140000.00} per our agreement of him paying me back {$150000.00} minus the {$8000.00} he had already paid. However, I was mainly just concerned about the money I had physically gave him and was only concerned about being paid back the {$92000.00} he owed. I was obviously not happy about this, however based on what I was finding out, I figured I had a better chance of getting back the {$92000.00} rather than {$140000.00}. And then on XXXX the XXXX XXXX texted me saying he filled bankruptcy and could no longer talk to me and has ignored me since. Since then I have met with his father to try and work something out, however to no surprise of mine, his father is the one bailing him out and allowing XXXX to live with him as he was no longer able to pay his rent. 

I am XXXX years old and have worked tremendously hard to save up what I had saved and has caused tremendous turmoil for my life. Purchasing my first home was very exciting for me ( or was supposed to be an exciting moment ) and has turned out to be the worst experience of my life due to XXXX  and XXXX XXXX. XXXX XXXX was a loan office employed by XXXX who gave him complete access to my personal financial situation which he then leveraged to his advantage and preyed upon me. I would like you to realize and consider that it was only because I did a home mortgage through XXXX that allowed XXXX XXXX to have access to me. I have never lent money out before and was never associated with XXXX XXXX prior to meeting him through XXXX I  strongly feel that XXXX should be held responsible for his actions and held accountable when it comes to paying me back since he was employed and empowered by them to have access to my financial situation, just like any other employer being ultimately responsible for their employees actions when gaining personal and private information. I was / am a consumer and I trusted XXXX and hence XXXX XXXX as I felt he was representing them. 
When reading your motto which I would assume to be your mission / value statement, Were on your side We are the Consumer Financial Protection Bureau, a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly. 
I feel like you are my last resort to see resolution in this matter, and I hope and pray that you take my complaint seriously. I am willing to provide you all the documentation I have. I would really just like this to go away and be able to move on with my life and put this horrible experience past me, although I do not feel like I will ever feel the same after this experience. I dont even want my home anymore simply due to having to do business with XXXX / the whole experience in general and currently have it on the market to sell, not even owning it for a year and knowing that I will lose more money selling it so soon. My stomach turns every time I walk into my OWN home and cant bear to be there anymore it is a terrible feeling to not even want to be in your own home, the first home you purchase. I truly look forward to hearing back from someone who could possibly help.

Company response to consumer: Closed with explanation