Mortgage -- Closing on a mortgage -- Complaint #6873925
Complaint Overview
Complaint ID: 6873925
Company: Rocket Mortgage, LLC
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Closing on a mortgage
State: Texas
ZIP Code: XXXXX
Date Received: 2023-04-21T12:00:00-05:00
Date Sent to Company: 2023-04-21T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/2021, I was informed by Rocket Mortgage that I needed to execute a Partial Claims Mortgage with HUD in the amount of {$26000.00} in order to proceed with the sale of my home, which transaction was scheduled to sold on XX/XX/2021. I executed the Partial Claims Mortgage, as requested, in order to satisfy the monies owed due to deferred payments due to XXXX. I was my understanding that this amount would be paid off at closing with the sales funds. It was NEVER disclosed to me by Rocket Mortgage that this was a three-party debt and that Rocket Mortgage would be paid the funds, pay off FHA, but then would create a separate debt with HUD that would not be paid a closing. One year later, I received letters from HUD which I honestly thought were fraudulent because I had no idea about the outstanding debt and the correspondence was asking me to sign agreements and submit financial information. Once I was able to speak to HUD, the title company, Rocket Mortgage and review the documents, I was finally able to understand what happened. However, now I have collection actions against me and negative reporting on my credit and am unable to enter into a repayment plan. I feel that Rocket Mortgage was negligent in their duty to me as a consumer and misrepresented the transaction that I was entering into. As a matter of fact, during a conversation with one of the representatives at Rocket Mortgage, he even admitted that is it not explained clearly to the consumer. I feel that Rocket Mortgage acted in bad faith and was only concerned with receiving their money and not at all concerned with ensuring that their customer is fully educated.
Frequently Asked Questions
What is Complaint #6873925 about?
Complaint #6873925 was filed against Rocket Mortgage, LLC regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2023-04-21T12:00:00-05:00.
How did Rocket Mortgage, 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 Rocket Mortgage, LLC?
Yes, visit the Rocket Mortgage, LLC company profile at readthecomplaint.com/company/rocket-mortgage-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.