Mortgage -- Trouble during payment process -- Complaint #4703551
Complaint Overview
Complaint ID: 4703551
Company: Rushmore Loan Management Services LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: California
ZIP Code: 94619
Date Received: 2021-09-08T12:00:00-05:00
Date Sent to Company: 2021-09-08T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
This is related to a major loss to my property in XX/XX/2019 -- a very large tree fell on my house in abnormally high winds. The insurance cut a check to me and my mortgage holder as soon as I had a repair estimate ( XXXX XXXX ). It was for approximately {$220000.00}. Subsequently with additional findings of substandard foundation and other code requirements, the amount was increased to $ XXXX. I have had unbelievable difficulties getting Rushmore to release funds to my contractor to pay for work that is already complete. The contractor is currently out of pocket {$100000.00} and we have passed an inspection showing 85 % complete but the contactor has only been paid 56 %. It should be very straightforward to release the remainder due. And yet I can't get Rushmore to release a check. And I can't get beyond a very limited scripted brick wall customer service of the available agents. The contractor won't come back to the job until he's paid. So, for the THIRD time on this round only, I am to wait for two days for Rushmore to call me back. For every payment Rushmore has provided on this loss, my contractor has had to wait more than a month -- the inspections come in with completions but it takes multiple calls for Rushmore to release money and I don't think we've received even one payment within one month. The contactor I selected does insurance work only. He has worked with multiple banks and this he says is the worst experience he's had. They have probably delayed my job a cumulative of 6 months at this point by mistakes, multiple calls with no results, no customer service, unkept promises, supervisors who are supposed to call but never do ; agents with limited knowledge and very small scripts. They are ruining my life. I may not be able to afford this house that I've owned for twenty years when it is done, because it's been almost two years and my insurance limits have been reached on replacement living costs, so I am losing money. But no recourse at Rushmore. If I was making late payments to them, they would charge me exorbitant late fees, but what recourse do I have when they don't release money that is not theirs!! AS far as I am concerned, they are stealing from me!
Frequently Asked Questions
What is Complaint #4703551 about?
Complaint #4703551 was filed against Rushmore Loan Management Services LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-09-08T12:00:00-05:00.
How did Rushmore Loan Management Services LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Rushmore Loan Management Services LLC?
Yes, visit the Rushmore Loan Management Services LLC company profile at readthecomplaint.com/company/rushmore-loan-management-services-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.