Mortgage -- Closing on a mortgage -- Complaint #6407234
Complaint Overview
Complaint ID: 6407234
Company: Money Source, INC., The
Product: Mortgage
Sub-Product: VA mortgage
Issue: Closing on a mortgage
State: California
ZIP Code: 935XX
Date Received: 2023-01-06T12:00:00-05:00
Date Sent to Company: 2023-01-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am currently in escrow on a property and am working with The Money Source to assume an existing loan. This assumption was offered by the seller as he was made aware by The Money Source that his loan was assumable. Both the seller and myself have been in contact with The Money Source for months, constantly asking to status updates and is we could provide any information to expedite the process. I just received on XX/XX/XXXX the disclosures regarding the loan in which I am about to assume. I signed and sent back the loan disclosures on XX/XX/XXXX. This morning XX/XX/XXXX I received an email from the money source stating that they are no longer offering loan assumptions. I understand if the company will no longer offer loan assumptions but canceling the process of my loan assumption after being led to believe for months that we were in process is a violation of some sort. I would puld like to continue with the assumption of this loan and feel like this company should finish the assumption as we have been led to believe that it was in process.
Frequently Asked Questions
What is Complaint #6407234 about?
Complaint #6407234 was filed against Money Source, INC., The regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2023-01-06T12:00:00-05:00.
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.