| 04/08/2021 |
Yes |
- Mortgage
- Other type of mortgage
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- Struggling to pay mortgage
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Web |
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XXXX XXXX and Franklin Mortgage Holdings , Inc. is Hard Money you DON'T want. They are located out of XXXX, Florida. XXXX XXXXXXXX XXXX NMLS # XXXX.
I've opted to allow the CPFB to publish this complaint publicly.
.
In XX/XX/XXXX we took a hard money loan to buy a house at XXXX XXXX XXXX XXXX in XXXX XXXX XXXX. We had to put 30 % down and accept a mortgage interest rate of 10 %. The lender was Franklin Mortgage Holdings in XXXX. They are extremely unethical and known for predatory lending practices with the INTENTION of putting people into foreclosure and trying to take their homes.
At the end of XX/XX/XXXX, we were defrauded by XXXX XXXX, XXXX XXXX from XXXX ( not related to the lender ). He's currently being investigated by XXXX of XXXX and looked into be several other agencies and financial institutions. Feel free to XXXX " XXXX XXXX - Racketeering through XXXX and XXXX XXXX. '' By XXXX of XXXX, we started falling behind on our mortgage because of me being unemployed and from being defrauded as mentioned above. I explained that to the lender hoping for some reprieve/empathy/modification. They declined.
Furthermore, over the next couple of months, XXXX XXXX kept telling me that we were the only non-performing loan in his portfolio. He blatantly lied. He had 3 other houses in foreclosure at the time. XXXX XXXX and Franklin Mortgage Holdings, Inc. should be investigated. They've already had several complaints launched against them. There was a complaint filed against them with another agency in XXXX. Franklin Mortgage Holdings , Inc. didn't even respond.
In XXXX of XXXX, my mother, XXXX XXXX XXXX, needed emergency XXXX to have her XXXX XXXX XXXX. We sold her apartment on XXXX XXXX XXXX and she moved into the house with me. We then paid 90 % of the balance in arrears to XXXX XXXX and Franklin Mortgage Holdings Inc. to show good faith. I then again asked XXXX XXXX again to modify the mortgage as we were paying a 10 % interest rate in basically a XXXX % interest rate environment because of Covid. They declined again.
By XX/XX/XXXX, just one month after we got 90 % caught up on our mortgage, XXXX XXXX served us with a foreclosure proceeding in XXXX of XXXX as soon as the moratorium lifted. Absolutely disgraceful.
Then in XXXX of XXXX, Franklin Mortgage Holdings, Inc filed a summary judgment with the court and literally tried to steal the house from under us. This forced my family and I to fire-sell our home. After penalties, interest, arrears, legal fees, moving costs and putting 4 months of rent down to get into a rental house, we walked away with peanuts. Now, we're literally at risk to being homeless.
The Damage Report : We bought the house for $ XXXX in XXXX of XXXX. We had to put 30 % down and paid $ XXXX in points at closing. So, that's {$97000.00} upfront. We fire-sold the house in XXXX of XXXX for $ XXXX. After closing costs, penalties, legal fees, commissions and etc., we walked away with $ XXXX. So, that's a net loss of $ XXXX right there. The houses in our area are now selling for $ XXXX and above. We sold it for $ XXXX. That's another $ XXXX out the window. - Total loss is $ XXXX. That wiped us out.
If an agency is willing to investigate, I'm willing to forward all my emails and documents with XXXX XXXX of Franklin Mortgage Holdings, Inc, and help the agency get all the texts between us.
Sincerely, XXXX XXXX - XXXX XXXX XXXX -
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| 03/25/2021 |
Yes |
- Mortgage
- Other type of mortgage
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- Struggling to pay mortgage
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Web |
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XXXX XXXX of Franklin Mortgage XXXX - Hard Money You DON'T Want This complaint is against Franklin Mortgage XXXX, XXXX in XXXX, Florida. It is a complaint XXXX XXXX specifically of Franklin Mortgage XXXX.
In XX/XX/XXXX, my family and I took a hard money loan to buy a house at XXXX XXXX XXXX XXXX. We had to put 30 % down and accept a mortgage interest rate of 10 %. The lender was XXXX Mortgage XXXX in XXXX. They are extremely unethical and known for predatory lending practices with the INTENTION of putting people in foreclosure and taking their homes.
At the end of XX/XX/XXXX, we were defrauded by Lifelong Criminal, XXXX XXXX from XXXX ( not related to the lender ). XXXX is currently being investigated by the district of XXXX, and looked into by other regulatory agencies as well. You can search XXXX : " XXXX XXXX - Racketeering through XXXX XXXX and XXXX XXXX. '' By XXXX of XXXX, we started falling behind on our mortgage because of me being unemployed and from being defrauded as mentioned above. I explained that to XXXX XXXX hoping for some reprieve/empathy/modification. He declined.
Over the next few months during the height of the Coronavirus, XXXX XXXX continued harassing my family and I saying we were the only non-performing loan in his portfolio. That was a blatant life. He had 3 other properties in foreclosure already.
In the summer of XXXX, my mother had XXXX XXXX. We sold her apartment on XXXX XXXX XXXX and she moved in with me. We then went and paid 90 % of the balance in arrears to show good faith.
I then again asked Franklin Mortgage XXXX to modify the mortgage as we were paying a 10 % interest rate. They declined again. By XXXX of XXXX, they hit us with a foreclosure proceeding.
Then in XX/XX/XXXX, Franklin Mortgage XXXX filed a summary judgment with the court and literally tried to steal the house from under us.
This forced my family and I to fire-sell our home in XXXX of XXXX. After penalties, interest, arrears, legal fees and etc, we walked away with peanuts and can barely afford to move and pay rent for a couple of months at best.
THE DAMAGE REPORT BELOW : We bought the house for $ XXXX in XXXX of XXXX. We had to put 30 % down and paid $ XXXX in points at closing. So, that's {$97000.00} upfront.
We sold the house in XXXX of XXXX ( this month ) for $ XXXX. After closing costs, penalties, legal fees, commissions and etc., we walked away with $ XXXX. So, that's a net loss of $ XXXX right there.
The houses in our area are now selling for $ XXXX and above. We sold it for $ XXXX. That's another $ XXXX out the window. - Total loss is $ XXXX. That wiped us out.
My family and I are asking the CFPB to investigate Franklin Mortgage XXXX, XXXX XXXX XXXX, Florida. Other complaints about them already exist.
The best way to fight shady business practices, is to expose them. Feel free to publish this to any of your communities.
Sincerely, XXXX XXXX - XXXX XXXX XXXX -
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| 09/08/2015 |
No |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
Older American |
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I received an unsolicited letter wanting to consolidate my existing mortgage and an estimated credit card debt of {$5000.00}. The letter stated that Franklin Mortgage Solutions could lower our monthly payments to {$1400.00}. I was given a phone number XXXX to speak with my loan representative. I do not have any credit card debt nor any problems paying my mortgage. The letter is very confusing, leading me to think that I have debt! The " Account Number '' for " my case '' is XXXX, sounding like something from the IRS! I was given a phone number to stop receiving " prescreened offers ''. I called that number but I was not able to ascertain whether this was a legitimate government agency! I can imagine that many people would be confused and very anxious that they were in debt. The " new loan proposal '' to correct this " problem '' was a 30 year fixed rate of 4.125 %. This letter is very incomplete regarding all the pertinent details.
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| 07/02/2020 |
Yes |
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Web |
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Franklin mortgage has not processed mortgage loan escrow close out in FHA connection which is delaying my refinance. This has been requested several times by refinance lender and not happened.
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| 05/18/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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| 04/14/2021 |
Yes |
- Mortgage
- Other type of mortgage
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- Struggling to pay mortgage
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Web |
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| 04/02/2021 |
Yes |
- Mortgage
- Other type of mortgage
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- Struggling to pay mortgage
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Referral |
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| 06/18/2013 |
Yes |
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- Loan servicing, payments, escrow account
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Referral |
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| 04/01/2013 |
No |
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- Credit decision / Underwriting
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Postal mail |
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| 03/20/2013 |
No |
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- Credit decision / Underwriting
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Web |
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| 11/07/2012 |
No |
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- Application, originator, mortgage broker
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Web |
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