Mortgage -- Trouble during payment process -- Complaint #5512837
Complaint Overview
Complaint ID: 5512837
Company: Money Source, INC., The
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Trouble during payment process
State: Louisiana
ZIP Code: 706XX
Date Received: 2022-04-28T12:00:00-05:00
Date Sent to Company: 2022-04-28T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
We never receive notice that our Escrow was short and we never receive refund checks. They hold our money all the time. When i make payments and Im short they put them in unapplied funds which is fine but they use the unapplied funds to pay for late fees or corporate advances instead of moving the money into paid. So bc they take the money out for late fees I can never catch up on my payments and im constantly having late fees. I feel like im sending them money all the time but i am never paid up. They started a foreclosure in early XXXX when they said we were 120 days late. We were not 120 days late, I send 2 payments in the mail bc they have it blocked so i cant pay on the website. Those two payments were held and not credited so they could start the foreclosure proceedings now those payments have disappeared. Mortgage company says they returned it, bank says they cashed it. We are now in forbearance and have to pay all these lawyers fees which i wouldnt have to pay if they would of put the unapplied payments where they were suppose to go when i paid them. XXXX XXXX & XXXX mortgage statements Escrow XXXX then it drops to XXXX i dont see where the money went XXXX XX/XX/2021 when i made a payment and they put it in unapplied funds and i told them to move it over and it wasnt shown as being moved on my XXXX statement as paid. they can move money out of my escrow to pay other things but not to cover what im short. since they didnt send me my escrow refund.
Frequently Asked Questions
What is Complaint #5512837 about?
Complaint #5512837 was filed against Money Source, INC., The regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-04-28T12:00:00-05:00.
How did Money Source, INC., The 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 Money Source, INC., The?
Yes, visit the Money Source, INC., The company profile at readthecomplaint.com/company/money-source-inc-the 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.