| 02/27/2023 |
No |
- Mortgage
- Other type of mortgage
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- Trouble during payment process
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Web |
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Hello and thank you for receiving my complaint ,
my name is : XXXX XXXX , my address is XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX , California , i've been defrauded in a very clearly way and a bad way by a mortgage service company in amount of XXXX i will explain as short as i can
1, on around XXXX XXXX i was purchasing a house , address : XXXX XXXX XXXX XXXX , XXXX XXXX XXXX CA , purchasing price was XXXX and after all closing cost around XXXX , i was looking for a mortgage and was contacted with a loans broker in California , his name is XXXX XXXX , he apply all information to a bank in XXXX , the name of this bank is : Redstone Funding LLC , address of the bank XXXX XXXX XXXX XXXX XXXX XXXX XXXX, IL XXXX , phone number : XXXX
the bank approve the loan in amount of XXXX , the money was funded to the escrow the terms was 30 Years Fixed Rate 7.5% , after couple weeks i got a first payment demand from that bank in amount of XXXX , i made this payment and also called the loan broker and the bank itself to see if there's a way to make extra payment to the principal to reduce the the principal and also recast my loan to reduce the monthly payments , the broker spoke with the bank and the bank also approve everything so i can make a extra payment in amount of XXXX i asked before making the payment to know what will be my future monthly payments and i was answered by emails ( everything described here was by emails ) that after making this XXXX payment to the principal the principal will be reduced to XXXX and monthly payment will be reduced as 7.5% annual interest will be on a reduced principal , the estimated reduced monthly payment was in around XXXX less , so far so good , i received link from a woman that works for that bank her name is XXXX XXXX , she claim to be a supervisor in the financial department and each link that came was containing the full bank information and was in max amount allowed to wire : XXXX i made those 4 payments total amount wired is XXXX
i called them and also sent them an emails to confirm and they confirm after each wire money was received , i have all conversation by email , after making all 4 payments i asked them to provide me a new statement based on the recast we set before i made the payments and see my balance so i can be calm , they did provided me a statement showing new balance XXXX monthly payments reduced from XXXX to XXXX
so far so good i was happy with the results all i mentioned above was on XXXX XXXX
after 2 weeks i received a good bye letter from Redstone Funding LLC saying we sold your mortgage , new mortgage service company is XXXX XXXX XXXX and that nothing has been changed with your loan beside the address to send the payments
i was OK with that and start calling XXXX to activate my account , it took the 2 weeks and in the beginning of XXXX the account was activated , when i logged in the account i saw my balance is XXXX and monthly payments is XXXX i contacted them right away to report this error and i don't want to waste your time now but i will tell you i reached out to both Redstone Funding LLC and XXXX in around 130 different times over the phone and by emails and received different answers , none of those answer was agreed on fixing and adjusting my balance , i didn't sleep for months i am still stresses and have a huge concern my money is lost , XXXX XXXX me every month to make a higher payment then what i should , i late on XXXX payment 6 days and received 3 Warning letters with late payment fees and other Threatening to make those monthly payments , answer i received from XXXX
1, we bought your loan from Redstone You borrow from them XXXX so you owe us XXXX we can send you the agreement you sign with them
i reply ok i know but after few weeks i made payments in amount XXXX so that should be reflected on my account
they reply we don't see any payments was reported on your loan , it's showing XXXX payments so we can't help you , you need to reach out to them
i reply ok i will send you all prove i made those payments and invoices and receipt and my bank statement so you can go back to them and tell them they sold you a loan in amount of XXXX over the truth amount on my account
i can also send you the statement i have from them showing i owe them XXXX and a goodbye letter saying nothing on my loan has been changed beside the address where to send the payment
i did sent them all evidence and i did called them many many times wasting sometimes 1 hour waiting for representative and another 1 hour to speak with a supervisor , they give me different answers all the time and eventually they blamed Redstone Funding LLC telling me this
your previous mortgage service company you initially took the loan from sold us the loan in amount of XXXX plus buying your loan , he also never reported any payments on your loan , XXXX was reported , also there's no report on your credit report showing you paid them , we are working with them to see what happened and see how we can solve this
in that point i called Redstone to verify this and they denied and said it's internal businesses between Redstone and XXXX , you don't need to be involved and the balance will be fixed in a few days (that was on XXXX)
i kept calling Redsonte and XXXX going back and forward and by the end of XXXX this lady XXXX XXXX confirm to me and says your money is with us ( Redstone ) we are working on transferring your money to XXXX and i don't know to tell you how long it will take us to do it , i kept asking is it gonna happen in a few days she reply i don't know
i ask is it gonna take weeks , she reply maybe i don't know , i kept asking is it going to take months ? she reply i cannot tell you or give you an eta , i make it harder , can you explain me why initially you sold my loan with incorrect balance , she reply i don't know it's a different department not me , i asked can you tell me why my payments was not reported the credit report or on my note she said i don't know i am not assigned to those things
i asked who know she reply the vice president his name is XXXX , i asked to talk to him around 30 different times he ignored me and didn't want to talk every day i called they said he's out of the office for more then 3 weeks , after few more weeks this XXXX changed her answer and told me ok we reported your payments today to XXXX XXXX and i can hook you with a customer service manager name XXXX XXXX from XXXX and he will confirm all of your payments was reported to them and now they should fix your balance , he did called me and did confirm he was reported by Redstone about the payments and told me give me few days i will fix and adjust your balance that was on the beginning of XXXX , i try called him back to a number he gave me more then 50 times he never answered the phone i also left him voice messages he never called me back i called XXXX customer service asked to speak with him and they did put him on the line , that was few times and he gave e different answers , his last answer was 2 weeks ago he told me that without the money transferred from Redstone no one on XXXX can adjust my balance
i explained him few things
1, i really really don't care if redstone transferred those amounts
2, i have nothing to do with the business redstone and XXXX did
3, i have no control on redstone money wire transfers
4, he showed me i borrow XXXX from redstone and i showed him payments and evidence in a form of payments / invoices / receipts / my bank statements / redstone new statement , so i don't care how much they paid for the loan or what kind of transaction they did , it's they're responsibility and liability to get whatever they need from whoever they need and i have nothing to do with that
5, i also explained him they're charging me for escrow fees XXXX and it's wrong because my house taxes are only XXXX a month he says it's also including insurance and i told him my insurance was paid up front cash for the all year when i bought the house , so he says he don't know and he need to check and get back to me , that was never happened
6, i told him i have a new mortgage service company i found a month ago that willing to refinance my house with a waylower interest and they submitted request to XXXX to paid off the house and the response came with a wrong amount of XXXX
7, i told him they're breaking the low
8, i told him i will report all agencies about what they're doing
9, i told him they're blackmailed me every month consistently to pay them higher interest based on a wrong principal with a XXXX missing on my account for months
10, i told him i don't want to pay them higher amounts then what i should and i want to get rid of them and move my loan to a new mortgage service
all of that was not really responded and he didn't really knew what to tell me beside i am sorry this is the situation and we won't be able to adjust your account balance and monthly payments without redstone transferring those payments
i asked if he reach out to redstone he reply many times
i asked what they told you , he said they did not gave me a specific answer they didn't know to say when they will be able to wire the money
i am facing a new mortgage service company XXXX me every month and blocking my way to refinance my house for months , this situation is insane and feels unreal i will ask you respectfully to step in and help me to stop this madness because i am so stress and i have XXXX and i can't sleep at nights for months , this is a crime made by a criminals and not by a mortgage or service companies , i will be appreciate any kind of help you can provide me
i do believe an action should be take against both
Redstone and XXXX
my phone number is : XXXX
my email is : XXXX i am attaching all evidence i have about my claim
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| 08/24/2022 |
No |
- Mortgage
- Conventional home mortgage
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Web |
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On XX/XX/2022, we went into contract to purchase a new primary home at XXXX XXXX XXXX, XXXX, XXXX at a purchase price of {>= $1,000,000}, with a target closing date of XX/XX/2022.
Our purchase loan was being funded by Redstone Funding LLC XXXX XXXX XXXX XXXX, XXXX XXXX, XXXX, IL XXXX. Loan # XXXX via our lender broker XXXX XXXX https : XXXX We received our initial loan estimate on XX/XX/2022 and the initial Closing Disclosures on XX/XX/2022.
The interest rate on the XXXX was 7.25 % with a 10 % downpayment {$78000.00} in closing costs.
We signed our closing documents with a notary on XX/XX/2022 with fund disbursement/settlement date of XX/XX/2022.
On XX/XX/XXXX, we fell out of contract due to Redstone Funding failing to fund the loan as agreed.
On XX/XX/XXXX, Redstone Funding still had not funded the loan and was not clear about why they were not funding, despite daily demands by XXXX and the lender broker for updates.
On XX/XX/XXXX, we finally heard from them via our lender broker XXXX XXXX that Redstone would not be funding the loan because they had made a pricing error. As a result of the error, they could not resell the loan as they planned to and would therefore not fund the loan. They told us the only way they would fund the loan was if the interest rate was raised to 7.65 % and if we paid {$33000.00} in additional closing costs.
We refused their offer and demanded they fund as promised per the closing documents we had signed.
Redstone Funding did not fund and the purchase contract fell apart.
The sellers have hired an attorney and are demanding the earnest money of {$68000.00} be released to them.
As buyers, we were damaged by not being able to purchase the house we wanted and we also stand to lose our earnest money deposit of {$68000.00}.
Throughout the process, Redstone Funding lied to us about the loan making good progress, about the mortgage being funded soon etc. Finally, they admitted the loan was mis-priced due to their error, but refused to fund the loan as agreed.
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| 10/14/2020 |
No |
- Mortgage
- Conventional home mortgage
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Web |
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I am the owner of XXXX XXXX Mortgage ( mortgage broker ), and I am filing a complaint against Redstone Funding LLC. I currently have 3 loans that have moved all the way through the underwriting process and have been issued a " Clear To Close '', however there has been no activity or response in actually getting final loan documents for these loans and proceeding with loan closing. On 2 of these loans they were cleared to close on XX/XX/20. This means that 14 business days have passed with no information given as to why loan documents have not been produced. Current turnaround times in the industry for receiving loan documents after " Clear to Close '' are 3 to 4 business days maximum. I am very concerned that Redstone Funding LLC does not actually have the monetary capabilities or capacity to complete all loan closing and fundings. I have made countless inquiries as to when loan docs would be released but have only been provided false promises ( see e-mail from my account rep informing me that I would have the loan documents the night of XX/XX/XXXX or day of XX/XX/XXXX yet still no sign of the loan documents. Both my client and I are growing very concerned that these refinances may never be completed with Redstone and that we have wasted considerable time and money in these efforts.
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| 06/07/2022 |
No |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
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Car was stolen & totaled.
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| 08/16/2022 |
No |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Improper use of your report
- Reporting company used your report improperly
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Web |
Servicemember |
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| 08/03/2022 |
No |
- Mortgage
- Other type of mortgage
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Web |
Servicemember |
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| 03/26/2022 |
No |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Improper use of your report
- Credit inquiries on your report that you don't recognize
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Web |
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| 02/15/2022 |
No |
- Money transfer, virtual currency, or money service
- Money order
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- Lost or stolen money order
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Web |
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| 08/11/2020 |
No |
- Debt collection
- Other debt
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- Written notification about debt
- Didn't receive enough information to verify debt
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Web |
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