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Resolved
Land Home FinancialRefinance cancelled abruptly - FRAUD!

I initiated a loan refinance in early March 2009 with Land Home Financial. Mr. /name removed/, the loan agent, indicated the refinance would close by June 2009. In Mid June 2009, I’m told (after repeated attempts to contact Mr. /name removed/ as to the status of our loan), that the loan was rejected and thereby canceled because our home was listed for sale. Our house was not for sale. It was not on the MLS, there was no formal sales agreement with a Real Estate agent, etc. This was just a convenient excuse since our loan somehow expired and the rate lock expired due to Mr. /name removed/ complete incompetence in handling our loan.

In the 4 months, I dealt with Mr. /name removed/, he was rarely forthcoming with any kind of information relevant to the loan. If I wanted to know what was going on, I had to ask – usually several times. In these type of time based transactions such as a loan refinance, timing is very important. Communication is key and Mr. /name removed/ didn’t exercise good professional judgment, nor did he make any effort to keep appraised as to the loan status.

I was never told it if the loan was locked, the rate at which it was locked and when the lock would expire. I was never told if the loan went to Loan Subordination. I was initially sent a good faith estimate, but very little much after that.

This type of lousy communication seems to be a company trait. After initially contacting me when I indicated that I was going to file a complaint, his boss seemed generally interested in resolving the situation, but never followed up or responded to inquires and emails. She, like Mr. /name removed/, went silent.

Silence implies guilt or wrong-doing. Something was done very wrong and we “cheated” out of a good loan rate due (conforming, 3o year fixed, 4.5%, 0 points) due to the long period time Mr. /name removed/ essentially ignored our loan. These types of shady loan practices should not be permitted.

Responses

  • Bs
    BSG78 Mar 05, 2018
    This comment was posted by
    a verified customer
    Verified customer

    I like the loss mitigation and customer service department; however, I cannot comprehend the incompetence of the loss draft department. The woman I’m dealing with is severely incompetent and cannot seem to get her story straight! What’s worse is that she has refused my request to speak to a manager!!! Looks like a trip to Lake Zurich for me.

    0 Votes
  • Si
    Sir shep III Jul 10, 2017
    This comment was posted by
    a verified customer
    Verified customer

    What about land home financial denying my mortgage based on false info provided by my landlord, deemed false in mn court. Months later I receive unencrypted emails from a lhf underwriter making fun of another loan applicants method of down payment and then sends me The applicants entire family's ssn's and w2's .I proceed to notify them of Thier mishandling of info and they ask me to cover it up and say nothing while giving me a sob story about Thier personal life and saying please don't tell on me. How professional. For a few months every time I call them they hang up. All this happened via email and I still have all the emails . I highly doubt lhf notified the individuals that I received all their personal info.. What do I do?

    0 Votes
  • Ri
    RichardDi May 28, 2015

    They continue to cold call me and when I ask who is calling they hang up. This is a cell phone they are calling.

    0 Votes
  • Da
    dave hernandez Dec 11, 2013
    This comment was posted by
    a verified customer
    Verified customer

    happen to me too they are not proffessional about nothing... stay away from doing business with them

    0 Votes
  • Ld
    LDabbs Nov 21, 2012

    They said they would refinance and then did not. The said they refiance homes that are NOT deliquent, but over financed. I filed a complaint with the BBB.

    0 Votes
  • An
    ANicholas Oct 28, 2009

    I did my initial home purchase and subsequent refinances with Land Home Financial. Every experiance I have had has been a good one. They have always provided me with good service. I would use them again and have recommended them to friends and family.

    0 Votes
  • La
    Land Home Professionals Aug 17, 2009
    This comment was posted by
    a verified customer
    Verified customer

    Mr. Kent filed a complaint with the BBB to which Land Home Financial responded. The company regrets not being able to assist Mr. Kent with his loan, but it was certainly not related to "fraud" or "incompetance" as suggested. Mr. Kent had offered his home for sale on Zillow.com which the loan industry considers "a listing", whether it was formally listed with a real estate agent or not. Secondary market sources will not buy a loan when the property has been listed during a certain period, and so there was no viable way to fund this loan. It was an unfortuante set of circumstances which precluded the company from making this loan. We understand Mr. Kent being upset, but his hyperbole is simply incorrect and unfair. LAND HOME FINANCIAL SERVICES.

    -1 Votes
  • Si
    Sir shep III Jul 10, 2017
    This comment was posted by
    a verified customer
    Verified customer

    @Land Home Professionals im contacting the news on the data breach of ssn numbers and w2's lhf sent me via unencrypted email . Worst of all is the emails that follow from lhf employee begging me not to tell and cover this up. So much for that customer privacy policy.. Yes lhf hangs up when I call about this, yes I saved all emails.

    -1 Votes

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