Mortgage -- Struggling to pay mortgage -- Complaint #6997411
Complaint Overview
Complaint ID: 6997411
Company: Chrysalis Holdings LLC
Product: Mortgage
Sub-Product: VA mortgage
Issue: Struggling to pay mortgage
State: Wyoming
ZIP Code: 82001
Date Received: 2023-05-18T12:00:00-05:00
Date Sent to Company: 2023-05-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
This complaint is for a refinance I've completed with New Day USA back in XXXX of XXXX. I was constantly receiving tons of mail from this company to refinance with them. They also sent cards pretending to be from XXXX XXXX XXXX ( my old mortgage company ). It would state that I had funds I could recover if I contacted the number on the card. I contacted them, and they made all of these promises to improve my finances and credit. They also pressured me hard to take out equity loans. I caved in because I thought it would genuinely help me. They promised me once the equity is paid off within my mortgage, the monthly payments will decrease and so will my mortgage balance. That turned out to be a lie, and every time I tried to ask them about it, they would brush me off. Because I screwed up and refinanced with New Day USA, my mortgage payments are extremely high compared to my old mortgage. This is taking a toll on me financially. I then tried to set up biweekly payments with them to somewhat relieve my financial situation, but they wanted me to pay an advance. I paid that and set up the biweekly payments for the same month. When I realized the second withdrawal was a few days before I got paid again, I contacted them to see if I could adjust the dates. They stated they would have to set me back to a monthly payment, and if I wanted to set up the biweekly payments again, they would need another advance. My bi-weekly paycheck is only {$2100.00} and the mortgage payment is {$2300.00}. It eats up my entire paycheck and more. I'm at my wits end with New Day! They claim to help veterans and they do the exact opposite. I should have never let them pressure me into this situation. I don't want this company to prey on any more veterans. I don't want them to end up like me with an expensive mortgage I can barely afford because of misinformation and aggressive sales tactics. This is the first home I've ever owned, and the experience is now ruined for me. I should have done more research before making this mistake. I am so embarrassed and ashamed. After doing more research, this company has countless bad reviews from veterans with similar experiences as me. They have gotten in trouble for their aggressive sales tactics, high interest rates, and fees. Most of the positive reviews were most likely fabricated. I think they're even banned from doing business in some states. I am currently refinancing with my old mortgage company to get away from them. Sorry this is a lengthy message, but I just wanted to inform you of what's going on. I also reported to this issue to my state 's attorney general 's office.
Frequently Asked Questions
What is Complaint #6997411 about?
Complaint #6997411 was filed against Chrysalis Holdings LLC regarding Mortgage specifically about Struggling to pay mortgage. It was received by the CFPB on 2023-05-18T12:00:00-05:00.
How did Chrysalis Holdings 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 Chrysalis Holdings LLC?
Yes, visit the Chrysalis Holdings LLC company profile at readthecomplaint.com/company/chrysalis-holdings-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.