Consumer complaint received 2025-02-12 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Changes in loan terms during or after closing
Company: JAN (LendUSA) Holdings, Inc.
State: TN

Complaint narrative:
My mortgage is serviced by XXXX XXXX XXXX XXXX XXXX, and the " owner '' of my loan is XXXX, XXXX, XXXX XXXX XXXX XXXX XXXX. I believe the owner is XXXX XXXX my Loan Originator. 

I was forced out of a good loan in XXXX after closing a High Balance, Conforming Loan with XXXX XXXX. The XXXX XXXX loan was a low interest rate and low payment. 
I was told that after using all of my available cash from the sell of my home in XXXX XXXX, that " we'd '' get a HELOC and pull XXXX to XXXX out to do renovations. We had pull almost XXXX down and I was told a HELOC would be easy. 

When I asked for the HELCO loan, my lender told me he didn't do HELOC, but his entire " Plan '' for me was to use all my available cash to get a conforming loan interest rate, instead of a higher Jumbo loan rate. It all made sense. 

When I couldn't qualify for a HELCO, ( because I had just purchase a new home for XXXX and my home in XXXX XXXX was still showing on my credit report ) my lender told me to best option was for us to immediately do a Cash out Refinance to get my money out to do the needed renovations. 

My lender worked for LendUS through the entire process. We submitted the loan documents and were waiting for the closing. My lender told me he had the credit report and documents needed to close and he was getting married and then going on a two week honeymoon, but that when he returned we would be ready to close. He said while he was gone to go ahead and get the renovations started because we were pressed for time to move out of the rental we were in. " Your set to close so go ahead and do the demo and get your renovations going, '' XXXX said. 

Based on that I got a XXXX XXXX XXXX, and other credit to start the renovatons and paid our XXXX a XXXX deposit to start. I also paid for XXXX in new cabinets for the kitchen and XXXX for materials, paint, tile, appliances, all from XXXX XXXX on credit. 

When XXXX returned two weeks later, he called and said there was a problem. The credit report he said he could use for closing the loan had expired and he needed to pull my credit again. With everything he told me to do, my credit score with the new purchases on credit cards and loans dropped my score to XXXX, down from over XXXX. 

He said I'd have to accept a higher interest rate and instead of pulling XXXX out of the house, for the renovation and some to have a cushion, we would only be able to pull XXXX out. 

Our interest rate went from XXXX XXXX in XX/XX/year>, to XXXX XXXX in XX/XX/year>, taking our payment from XXXX per month to XXXX per month. 

By the time the Cash out Refinance closed it had been 4 months of back and forth, more requirements and a never ended additional waiting period. 

In the end we had borrowed more money from friends and family to stay a float and to avoid any missed payments or bills, further credit damage. 

We have paid right at XXXX per month for 6 years while I've been fighting XXXX XXXX. That's a total of XXXX dollars in payments. 

I have tried to sell my home for over 18 months to get out from under the mortgage and recently was told I have finally been accepted on the XXXX XXXX XXXX XXXX. 

I asked XXXX weeks ago what our payoff is and I was told that it is XXXX. That is XXXX dollars more than we borrowed 6 years ago. 

I believe the " investor '' of our loan is my Loan Originator, XXXX XXXX. Someone has taken 6 years of mortgage payments and applied them to interest on the loan. My loan was supposed to be a conventional loan at a high interest rate because of my credit score, which was damaged my XXXX XXXX, XXXX XXXX. 

I started with XXXX XXXX with a XXXX Fico Score and XXXX dollars to put down and here I am XXXX XXXX Years later realizing just how badly he screwed me and my family. 

In the 4 months that we waited for the Cash Out Refinance, XXXX XXXX my XXXX dollars to pay the mortgage, so I wouldn't get a late pay on my credit and further mess up my already broken credit thanks to his errors. 

Please help me find relief. I have submitted some of these issue before and gotten no assistance. Now we need to sell and he or his partners are stealing most of our equity. 

PS - My loans Trigger Date ( just found out about this ) occurred during the XXXX XXXX while I was in forebearance for job loss. 

Thank you, XXXX XXXX XXXX XXXX XXXX. 
XXXXXXXX XXXX XXXXXXXX XXXX

Company response to consumer: Untimely response