Consumer complaint received 2025-02-17 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: CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP
State: WI

Complaint narrative:
I am writing to inform you of an urgent financial and housing hardship that my family and I are currently facing, and to request your assistance in navigating this difficult time. 
We knew something went wrong with this loan we just did not know the direction to take to get assistance. 
We have been doing everything to build our home, but the process has been plagued by contractor fraud and financial mismanagement by the professionals, including Cardinal involved in the project. The initial contractor, XXXX XXXX XXXX XXXX, misappropriated funds, leaving us in a dire situation. 

I would also request that the listing agent listed the land we bought and placed our home on the market. I have her in this email and I will also provide her contact information at the end of this email please reach out and speak with XXXX. 
It was XXXX XXXX from Cardinal who helped us find a general contractor and builder. He recommended XXXX, who turned out to be a scam company. Cardinal keeps blaming the general contractors. We paid XXXX for plans that were useless. He emailed companies, posted our home building project in the Wisconsin XXXX XXXX XXXX XXXX, and through his involvement we found XXXX XXXX. XXXX worked very close with XXXX. XXXX even filled out forms for XXXX XXXX. What credentials do Cardinal agents have to fill out documentation, budget, and filling in areas where the dimensions and sizes for our home construction appraisal? shouldnt have been XXXX XXXX and our architect? ( See email ) Why did XXXX state we went over budget when XXXX XXXX had not even completed a review and well over XXXX was in our account. Why is Cardinal stating we picked out a GC that did not have capital or experience. Why then was XXXX XXXX approved? 
When XXXX XXXX failed to complete, breached contract, stole funds. Cardinal construction team representative talked with 2 general contractors XXXX XXXX from XXXX XXXX  and XXXX XXXX with XXXX XXXX  ; we were advised from Cardinal representative that XXXX XXXX has creative vision and can get house up so we hired XXXX from the advice from Cardinal representative. When we were trying to obtain and have XXXX reviewed for acceptance of project. Cardinal also delayed that process too. During that time XXXX was told temporary power was not in the budget leaving XXXX and I living on land without power was not only needed for our RV but also for the subcontractors to charge equipment. The summer cost of feeding a generator at {$1400.00} per month was unsustainable for us ; the land finally got power XX/XX/XXXX over a year later. This does not include the XXXX XXXX  do what you have to do to get over a hump can explain more but we have sent multiple documentation on this. 
The start of budget issues originated from the initial draw with XXXX XXXX and Cardinals team, the budget review that lacked major utilities. Why did Cardinals construction review miss this?! Was this one of the forms XXXX filled out? 
how does a lender do this? it just keeps going. 
The multiple changes in closing dates, delays, including a delay in the initial payment due to XXXX XXXX, not receiving funds as expected, caused significant disruptions. As a result, we had several subcontractors leave the project, forcing us to scramble to find replacements. This delay was particularly challenging during Wisconsin 's peak building season, when the demand for subcontractors and materials was at its highest. Cardinals team not only misguided and misled us they misled others. XXXX, XXXX, XXXX XXXX, XXXX XXXX and us your customer. 
XX/XX/XXXX XXXX XXXX was told by XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX to stop working on the project as Cardinal is losing money and does not know what to do about the shortage at that time we had XXXX left in the budget. 
We were told the general contractors must have insurance XXXX XXXX insurance, 2 years of experience, credentials, and background check. We as consumers are unable to verify insurance until a claim is made. We understand both XXXX XXXX and XXXX XXXX initially had insurance, however they allowed it to lapse. Cardinal disbursed our funds without verifying compliance and allowed contractors to repeatedly take funds without active coverage leaving XXXX and I completely unprotected. 
I also want to address what happened prior to selling our home. This was a call with XXXX XX/XX/XXXX we discussed our financial situation in detail. We explained that we had a duplex with well over $ XXXX in equity and planned to rent out the upper/or lower unit, which would have covered the mortgage payment. Despite this, XXXX called back and stated we would have to sell due to debt-to-income concerns. While we planned to sell, our intention was to do so closer to when the house was move-in ready. 
We emailed multiple times that if we did NOT have a construction loan, we would not sign to sell our home. An email was sent as a countdown to the sale of our home starting at 10 days and on-going daily before the closing of our home in XXXX XXXX. 
We found after the sale of our home; this was not the case and Cardinals team delayed which then everything had to be redone. Multiple documents sent to Cardinal were misplaced to the point that the realtor had to intervene and resend information multiple times. XXXX the realtor that handled this has information. This left us with whatever Cardinal came up with, we at that time was homeless. 
While this is only a bit of our experience. I can offer more information. 
We need to find solutions As soon as possible to ensure our home is completed. We have been left in an unsustainable financial situation, inhumane living conditions and no longer can maintain temporary housing and this mortgage payment. 
I will attach XXXX filling out XXXX Bells paperwork. 
XXXX email stating first draw XXXX XXXX gets what he wants to start project. This was not the case. XXXX repeatedly stated that XXXX XXXX did not have startup funds. He was trusting what he was told by XXXX and XXXX about his startup funds to be truthful. He had everything lined up and when he received only XXXX instead of the XXXX his not only sunk his business, it crushed our build. 
Emailing stating we wanted to use our equity. This is our neighbors rental listing at {$1900.00} per month that was more than enough to cover our homes mortgage responsibilities. The rental which has similar 3 bedroom, 1 bath rental. The home we owned had more to offer including garage space and laundry hookup and playground. 

XXXX and I trusted this lender, we trusted that they were the years of training professional lenders. 
Please review! Please call me. 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) XXXX

Company response to consumer: Closed with explanation