Consumer complaint received 2023-12-08 00:00:00
Product: Mortgage — Conventional home 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: Mr. Cooper Group Inc.
State: NY

Complaint narrative:
y home was flooded on XX/XX/2023, my insurance company XXXX XXXX settled the claim in XX/XX/2023, they sent me a check with my name, the contractor and my mortgage companies listed on the check. The check was sent to my mortgage company on XX/XX/2023 ( Rushmore Home Loans ). Rushmore Home Loans was takeover by Mr Cooper as of XX/XX/2023. I personally forwarded all of the required documents and all information that was needed to continue with the repairs of my home. I was told to do this by my previous mortgage company to avoid any further delays. Mr Cooper has found everything possible reasons to not disburse the fund to repair my home, as of now XX/XX/XXXX months after depositing the funds in my mortgage loss draft accounts, the first disbursement was released on XX/XX/2023 for {$25000.00}. My original contractor had completed approximately 10 % of the work before I found out that they wasnt honest and was trying to take advantage of my, so I hired a new contractor. Before any further work was performed, I ordered an inspection for the house to validate what percentage of work was completed, the bank sent XXXX XXXX to my home to conduct the inspection, it took a few minutes, the inspector just took a quick video and completed the inspection saying 20 % was completed. All of the work that was done was out of my own pocket at that point, the bank refused to release any funds other than {$12000.00} that I paid out of pocket for materials. I begged and pleaded with the bank to release the internal draft, but they refused, I stopped paying my mortgage in-order do the repairs on my home, Im currently renting a home for {$4600.00} per month, and no longer have funds to continue to pay. My XXXX children and I will be moving into a shelter on XX/XX/2023. The bank is requesting that the inspection is at % in order to release any additional funds. I had another inspection on XX/XX/2023 from the same company XXXX XXXX, after I completed XXXX bathroom, Sheetrock for 85 % of the walls, flooring base, paint XXXX bedrooms, living room, hallways kitchen out of my own pocket, but the bank still refused to release additional funds, the rejected my request and said only 20 % of the work is completed, but 25 % is needed to release funds, being that two inspection was done both saying 20 %, now the bank is saying I need the final inspection to release the funds. Two different inspections from the same companies and both reports says 20 % completed. The bank has been holding over {$100000.00}. In their account for almost 6 months now collecting interest on the funds. I will upload photos of my home to show the work that has been done. This is unfair to me and my family, my insurance policies was to repair my home, I should have to live in a shelter, and now face foreclosure from the same back that refused to use the fund to repair my home so we can move back in.

Company response to consumer: Closed with explanation