Mortgage -- Trouble during payment process -- Complaint #5992545
Complaint Overview
Complaint ID: 5992545
Company: Freedom Mortgage Company
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Florida
ZIP Code: 34120
Date Received: 2022-09-17T12:00:00-05:00
Date Sent to Company: 2022-09-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
I have been trying to complete a recast of my Mortgage with Freedom Mortgage and the company has delayed the recast in an unacceptable time frame. I originally contacted Freedom explaining that I wanted to complete a recast with a payment of {$240000.00} towards my principle. I was instructed to mail a check for {$250.00} and a letter requesting a recast. I mailed letter and check on XX/XX/22. Freedom misapplied my check as a partial mortgage payment. After several calls they reapplied the funds. I reached out to Freedom several times to obtain a contact person for the recast with no success. I wished to increase the amount I was applying for the recast to {$250000.00} but I was leary of sending the funds without a contact person to confirm the process as my {$250.00} earlier check had been misapplied. XXXX XX/XX/22 I received a letter from Freedom stating they were unable to complete the recast as they hadn't received the curtailment to principle and that my loan was being transferred. I again contacted Freedom and was told the loan would be transferred within 30-60 days and that I could complete my recast at that time. Sixty days passed without any further communication from Freedom about completing my recast or informing me of a new mortgage service provider. I again contacted Freedom on XX/XX/22 and spoke with teller # XXXX who looked up my account, read the letter about the service transfer and instructed me to mail another check for {$250.00} with a letter requesting a recast. I mailed another check for {$250.00} and another letter requesting a recast. Freedom cashed my {$250.00} check, and on XX/XX/22 I received a call from XXXX teller # XXXX telling me again that Freedom would not complete the recast as my loan is scheduled to be transferred in XXXX. Since the letter from freedom on XX/XX/22 I have made mortgage payments for XXXX, XXXX, and XXXX and will have to make another one in XXXX if this does not get resolved in a timely manor. The amount of funds I wish to apply towards my recast of {$250000.00} should lower my mortgage payment by aprox. {$1200.00} a month. I will have made at least 4 additional mortgage payments that were unnecessary if Freedom had acted in an appropriate manor. If Freedom can close on a purchase or a refinance in a few weeks why should it take XXXX+ months to complete a simple recast? This is not fair to the consumer and a deceptive business practice.
Frequently Asked Questions
What is Complaint #5992545 about?
Complaint #5992545 was filed against Freedom Mortgage Company regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-09-17T12:00:00-05:00.
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.