Consumer complaint received 2023-05-06 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: JAN (LendUSA) Holdings, Inc.
State: TN

Complaint narrative:
I've filed a complaint regarding this loan before and was told that because the lender had moved to a different firm and the firm he was at was now out of business, that there wasn't anything I can do. 

I'm trying again here. The two horrible lenders are : XXXX XXXX XXXX # XXXX LENDUS  and now at XXXX XXXX Mortgage XXXX XXXX XXXX # XXXX XXXX XXXX  Both should be locked up! 

I closed on my home located at XXXX XXXX XXXX, XXXX, TN XXXX. When I closed, I was forced to use a stranger for my loan because the realtor here in XXXX wrote in the last counter offer that I must use XXXX XXXX, a lender with XXXX XXXX. Although this was illegal, my lender in CA told me to make him provide the same loan he had already prepared for me. 

I closed on my home on XX/XX/XXXX, for XXXX, and when I showed up to the law office to close, I noticed the interest rate was XXXX a point higher than I'd been provide in documents, I waited a Limestone Title and Escrow until the corrected paperwork was sent to the officer and we closed. That was the second XXXX XXXX, the first being that the Seller 's realtor thought he could force people to use his lender. 

The lender who put me in this horrible situation started off with me with a XXXX FICO Score and no debt, and I was bring XXXX with me as a down payment on my new home. 

The lender XXXX XXXX, at the time was the Area Sales Manager for LendUS in XXXX XXXX, CA. He looked over my credit and down payment and told me that he thought I should do a high balance, conforming loan, using all of my cash from my sale as the down payment, to get me below the XXXX, which I was told was the maximum for conforming loans in XXXX, TN. 

I closed with the XXXX XXXX, with XXXX so I didn't lose the house in the counter offer stage, and per XXXX XXXX 's recommendation. As per XXXX 's plan, after closing on the loan and buying the house, XXXX 's plan was to immediately take out a HELOC with all of our build in XXXX and use that to do some renovations. 

I reached out to XXXX after closing and confirm I cold start the renovations and he said yes, go ahead. I had XXXX weeks to complete the renovations before moving my family into the house and so off I went. 

A week in I needed to use my XXXX  and XXXX XXXXXXXX  cards to get kitchen cabinets and other building materials and I called him and he said, no problem. I just pulled you credit and its good and I will use this report for your HELOC. I charged XXXX for kitchen cabinets, and XXXX to get the contractor started. I thought everything was going great and house was moving along and I called XXXX to see how the HELOC was going and he said I can't do one for you in Tennessee. We are not licensed to do them there so go to your bank and get one. I soon realized that I was in trouble. 
I'd gutted the kitchen and master bathroom and used XXXX to get the renovation started. To make matters worse, when I tried to find a HELOC provider that I didn't know they told me an inspection would be required. But with the Kitchen and Master Bath gutted, we couldn't go that direction. 
XXXX stopped answering my calls and I stood him that he had gotten me into this mess that he had to find a way out for me. 

XXXX did he, I ended up borrowing from friends and family members to do a poor mans renovation to get the house prepared for a inspection. I'm sure you have heard this before. 

I ended up getting a cash out refinance from XXXX at an interest rate of 5.83 % in XX/XX/XXXX when interest rates were 2.65 %. My family and I were supposed to pull XXXX, then it dropped to XXXX, and then to XXXX and finally we got XXXX out of our cash out refinance loan. Our payment went from XXXX per month and now is XXXX per month. 

We were told that we didn't qualify for any of XXXX XXXX Financials programs because we hadn't missed any payments so XXXX told me to not pay XX/XX/XXXX, I didn't pay is and then the help they were able to offer increase my loan balance by XXXX dollars and took my interest rate and payment down to 5.45 % and my payment to XXXX per month. We struggled to pay back family and friends and to partially finish our dream home we just did what we had to do to get by. In XXXX on XXXX I switched jobs to make more money and I thought we might have a chance until and for the next year I just tried to get everything paid so I could refinance out of this horrible loan. My credit was hit with a few late pays due to the the new job and no commissions so it made refinancing impossible. Then Covid-19 hit and I lost my job, causing me to miss another payment. I got on track with payments and have now made them each month for 26 months but now my credit score is XXXX. This is because each month I have paid my mortgage, XXXX Mortgage assigns the payment to the month 2 months ago, and so I get charged a XXXX late fee each month and the report me 60 days late each month. I am trapped by these horrible people. 

At one point XXXX told me he was sorry, but he hasn't offered or helped me and my family out of this XXXX he created. 

On top of all of this, my loan allows high interest payments to the owner ( s ) of the loan, a sister company to LendUS and XXXX again is getting paid monthly out of my almost XXXX mortgage payment. 

I can't do a modification because they will add XXXX to XXXX to my principle, And the interest rate will not change. I can't take the balance I'm behind and split it to 12 months because it increases my monthly by over XXXX dollars and I can't afford it, and I can pay it off because I've used all my XXXX saving, regular saving and don't have the money to catch up the loan. 

Can anyone help. This is what XXXXXXXX XXXX  XXXX looks like, when dishonest Lenders can XXXX over clients and have no remorse or responsibility for the damage they have caused. 

Please let me know what I can do or if there are programs that will help me. Make me believe in America again. 

Thank you,

Company response to consumer: Closed with explanation