Consumer complaint received 2025-04-21 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Closing disclosure or other related disclosures
Company: CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP
State: FL

Complaint narrative:
I am filing this complaint against Cardinal Financial Company for misleading and incomplete disclosures while purchasing my home at XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX. I closed on this property in XX/XX/year> for {$360000.00}. 

At closing, the property taxes were estimated to be approximately {$2000.00} per year. However, shortly after closing, I was informed that the actual taxes were over {$6000.00} per year. This caused my monthly mortgage payment to increase to {$2400.00}, a significant and unsustainable difference from what was disclosed. The loss of the prior owners XXXX XXXX, which caused the sharp increase in taxes, was not disclosed to me, nor was it reflected in the Loan Estimate or Closing Disclosure.

Additionally, the appraisal and internal valuation presented by Cardinal Financial severely inflated the market value of the home. The companys internal system currently shows a value of * * {$420000.00} * *, while XXXX and XXXX estimate it between * * {$350000.00} and {$360000.00} * *. Furthermore, a nearly identical home next door ( XXXX XXXX XXXX XXXX XXXX sold for * * {$320000.00} * *, further confirming that the appraisal used in my loan was significantly inflated and potentially manipulated. 

On top of that, several issues and defects with the property were * * omitted in the inspection report provided during the closing process. I have since discovered multiple hidden problems that required repairs and additional investment. These problems should have been disclosed by the home inspector or realtor, as required under Florida law and basic real estate ethical standards. 

These actions appear to violate the Truth in Lending Act ( TILA ) and the Real Estate Settlement Procedures Act ( RESPA ) * *, which require lenders to provide accurate disclosures of loan costs, taxes, and the true cost of ownership. The misrepresentation of the property value, the omission of the XXXX XXXX removal, and the failure to include or disclose known property defects all contributed to significant financial harm. 

I have made several attempts to contact Cardinal Financial, but have received no adequate solution. I have spent more than {$65000.00} on the property post-closing and am currently underwater on the mortgage, facing escrow shortages and a tax burden I was never prepared for. 

I am requesting the following : - A full investigation into the appraisal process and disclosure practices ; - A correction of my escrow and monthly payment obligations ; - Compensation or credit toward my mortgage due to the misrepresentations and omissions ; - Accountability from all parties involved in the closing and inspection process. 

Attached are : - Screenshots from the Cardinal Financial dashboard showing the {$420000.00} valuation, - Current escrow and mortgage breakdowns, - XXXX and Realtor market valuations, - Tax records,- And listing comparisons ( including XXXX XXXX XXXX XXXX XXXX {$320000.00} ). 

Thank you for your attention to this matter.

Company response to consumer: Closed with explanation