Consumer complaint received 2024-12-05 00:00:00
Product: Mortgage — VA mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: EQUITY LOANS LLC
State: NJ

Complaint narrative:
On XXXX XXXX I was over drafted in my bank account by EPM, my mortgage company, when the processed a payment that was supposed to have been stopped on XX/XX/XXXX when I contacted EPM for options to ensure I was protected and communicating properly as to why I was unable to make payment to stay current. During this process, it was presented to issue a XXXX forbearance to ensure I was able to financially protect myself and property on my VA loan. In this process, EPM, as stated in the documentation they also provided me, they were responsible to cancel all autopay options. After the discussion, I did pay 1 payment over the phone at that moment to ensure I stayed only 1 month behind and wanted to keep myself in a reasonable standing financially and protect against future late charges and credit reporting. 

ON XX/XX/XXXX I made another payment to ensure i did not fall further behind and stayed inline with remaining as close to with in 30 days of payments due. 

ON XX/XX/XXXX I made another payment to again stay as current as possible, under the assumption that I was still protected under forbearance until XX/XX/XXXX and would not be drafted until I submitted a manual payment. 

On XXXX, unknown to me, EPM processed a payment of {$2600.00}, which is my monthly payment, causing financial hardship to me directly as it then processed in front of budgeted bills and purchases, over drafting funds from my savings account, that happened to belong to a Non-profit organization fundraiser that needed to be paid out to participants. I also put me in a negative balance and still had to pay bills that I am now unable to process. 

When I reached out to EPM XXXX XXXX, i was first told that there was nothing they can due until it is posted and would have to request the refund after the funds were processed at my bank. They also stated that I was responsible to cancel the auto draft. I told them to reference the document they provided me on the forbearance that stated they were responsible to remove the auto pay. The servicing agent was quick to correct this before transferring me to a supervisor. Once connected with the supervisor, they continued to tell me there was nothing they can due until they received notice that the funds were processed. I continued to explain, in frustration, that the bank, in fact had processed the payment. They asked for a bank statement and I explained my bank can not give me a bank statement for current month transaction. She proceeded to tell me they can not help me without a PDF of bank transaction. She stated I can upload them on the website and they could immediately start the process. SO I did that. I uploaded the transaction history on a PDF and called back. After that, they proceeded to tell me it will be 24 hours before they will see the document and I had to wait, giving me no options to get it to them faster. 
I called again on XXXX and asked for an update. They still had not processed anything. I asked why when i provided everything they needed and they were the reason this happened. I am continuously transferred from department to department and told that the situation was being escalated to the cashier. I requested a wire transfer as this is an extenuating circumstance and they collected the information to get the wire transfer approved. They gave me a disclaimer that if not approved, they would be overnighting a check. I called back at XXXX XXXX  and continued to get the run around and no one could get me the information needed as this was not processed in a timely manner and had to speak to another supervisor for an hour with no resolution. I was also given confirmation that i would be getting a call from a leader within 24 hours to help with this escalation and still have not received a call. 

Today, XXXX, I called again after not seeing anything processed in my bank to be told that they will be overnighting a check. I asked why and they stated the do not approve refund wire transfers, not even in extenuating circumstances. I asked for a tracking number as they should at least try to expedite this today, which they said they could not provide until next day and the manager refused at first to place me on hold to gather the information from the department. After 3 minutes of consistent back and forth am me telling her i was not going to get off the phone and am willing to wait at least 10 mins on hold, she still refused and then finally placed me on hold and allegedly got in touch with the cashier who then relayed they will not have that information yet. 

ON both occasions when talking to the supervisors, the both admitted to this being EPMs fault on a recorded line but would not do whatever it took to escalate to the highest level to find resolution As a XXXX XXXX XXXX XXXX, I feel this is a disservice to me as a customer and I will most likely not receive my return for almost 7 days after the mistake. No i fear that I will be further in debt as the drafted funds was untimely and unexpected with no resolution insight.

Company response to consumer: Closed with explanation