Mortgage -- Trouble during payment process -- Complaint #5898289
Complaint Overview
Complaint ID: 5898289
Company: Freedom Mortgage Company
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Massachusetts
ZIP Code: 024XX
Date Received: 2022-08-19T12:00:00-05:00
Date Sent to Company: 2022-08-19T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Freedom Mortgage acquired our Mortgage ( # XXXX ) in XXXX of XXXX. Since then I have received almost monthly letters regarding the insurance for the Condo Unit. Until they acquired the mortgage, I had never had an issue with insurance for the Condo ( which we have owned since XXXX ). They are claiming that we did not have sufficient coverage for XX/XX/XXXX - XX/XX/XXXX and have charged XXXX {$700.00} for this time period. I have two issues with this charge. XXXX ) It was not clear what needed to be fixed until it was too late to get sufficient coverage and avoid them purchasing insurance for us. It was not until XX/XX/XXXX that I was informed by phone that I needed at least {$170000.00} of coverage, but only had {$160000.00}. In fact, I received a letter from them dated XX/XX/XXXX, that stated they had canceled the lender-provided insurance. XXXX ) The insurance they did provide is predatory. They not only insured for the total cost of the Unit ( {$400000.00} ), which is more than is required by Massachusetts law but also at inflated rates. Additionally, the condo for this time was insured by XXXX parties ( XXXX XXXXo Insurance, XXXX XXXX XXXX insurance for $ XXXX, and their XXXX insurance for $ XXXX )
Frequently Asked Questions
What is Complaint #5898289 about?
Complaint #5898289 was filed against Freedom Mortgage Company regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-08-19T12:00:00-05:00.
How did Freedom Mortgage Company 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 Freedom Mortgage Company?
Yes, visit the Freedom Mortgage Company company profile at readthecomplaint.com/company/freedom-mortgage-company 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.