Consumer complaint received 2025-08-31 00:00:00
Product: Debt collection — Mortgage debt
Issue: Took or threatened to take negative or legal action — Seized or attempted to seize your property
Company: BSI Financial Holdings, Inc.
State: MD

Complaint narrative:
I bought an investment property through Easy Street Capital LLC, a hard money lender affiliated to BSI Financial Services. It was a short-term loan which is supposed to be paid back after 6 months on XXXXThe Term Sheet associated with the loan was attached as Term Sheet. I made interest-only payments towards the servicing of the loan. The complete interest payment of the loan was made on XX/XX/2024. I have proofs from my bank statements that this was done. A summary was captured and attached as Payments to BSI. Even after making the complete interest payments, BSI Financial Services made unauthorized attempts to withdraw funds from my account. Please see the attached file named Illegal Withdrawal Attempt. I discontinued making interest payments after I have made the full interest payment. 
A requirement of the contract was that Easy Street Capital LLC was to provide draws needed to remodel the property. Easy Street Capital LLC introduced various delay tactics to ensure that the property remodeling was not completed on schedule. This was to delay the closing date and force me to make more interest payments. In order to avoid extending the closing date of the loan, I wrote a letter to the president of Easy Street Capital LLC requesting that he facilitate the release of funds needed to remodel the property. Please see the letter attached as Difficulty in Getting Draws 1. I did not get the cooperation from Easy Street Capital, and this negatively impacted on the project 's schedule. Easy Street Capital in collaboration with BSI Financial Services deliberately withheld part of the rehabilitation funds for the project. The aim was to cause artificial scarcity of funds and then foreclose on the property. As at the time of writing this complaint, the rehabilitation fund has not been fully released. 
Scarcity of funds caused the original contractor to leave. I managed to get funds and another contractor to complete the project. I then sent a letter for the loan to be refinanced so that I can pay off the high interest loan. Please see the letter attached as Refinance Request. BSI refused to refinance the loan but preferred to foreclose on the property. Please see the letter attached as Foreclosure Notice.

BSI Financial Services is determined to prey on me by taking steps to foreclose on the property. BSI Financial Services and Easy Street Capital LLC orchestrated conditions that caused the remodeling of the property to be significantly delayed. There is a history of BSI Financial Services acting unethically and unprofessionally towards
unsuspecting borrowers. Please see a notable case whereby BSI was forced by Consumer Finance Protection Bureau ( CFPB ), to pay a civil money penalty of {$200000.00} and pay restitution estimated to be at least {$36000.00}. This was retrieved from, https : //cfpbjournal.com/cfpb-settles-with-servicer-over-tila-respa-violations/ In addition, the money that I used for downpayment towards the purchase of the property was a HELOC loan from XXXX XXXX XXXX Foreclosing on the property will make me lose our family home. Delaying the refinance of the loan makes me to pay unbudgeted interests associated with the HELOC loan. Please see the attachment known as XXXX XXXX. My daughter who is currently living with me is a XXXX XXXX She serves with the XXXX XXXX.

Company response to consumer: Closed with explanation