PrimeSource Funding, Inc.

Although we are truly empathetic to your situation your dealings with your chosen home builder are out of our controlLegally when you decided not to purchase a home that you were under contract for, the seller/builder has the option to keep the earnest money listed in the legal contract you agreed
to and signedPrimeSource Funding is not responsible for the amount decided, holding of those funds, nor do we have any contact with the funds periodYour request for a denial of this loan is not possible as you withdrew from the loan process and therefore it would be unethical and unlawful for us to deny you for the loan which you were approved

Revdex.com, Complaint ID No. [redacted]Response letter as been attached.

I am rejecting this response because:Although I understand a preapproval has been secured, an approved mortgage has not been completed by the closing date. I understand Prime Source Funding does not have my earnest money, and that [redacted] retained the funds. However, due to the lack of a mortgage secured by closing, I was forced to make the decision to cancel the purchase due to financial hardship and to avoid being homeless. After months of extending the closing date several times and needing to renew my lease, I was unable to financially be fit enough to  pay for both $1400 monthly rent and utilities plus any additional payments that would have been tied to the home purchase and mortgage payments. The landlord would not let me out of the lease if a mortgage had been secured and the purchase would have gone through. As a single mom with one income, I struggle to make ends meet making one housing payment a month. My ex partner is a disabled combat veteran from the Afghanistan War who does not provide any support. It is difficult enough to support my family on my own, but waiting almost six months to close a mortgage placed undue burden on us on top of the stress, PTSD, and other difficulties we juggle on a daily basis. My goal was t a mortgage offered/ completed by Prime Source. That did not happen in a reasonably timely manner. Due to the time frame, my financial situation and my empathy for not further burdening the seller, I chose to cancel the purchase a second time. Otherwise, my costs would have been too difficult to survive. Prime Source could do a better job communicating with me in the future about timeline to close, financial requirements, and providing empathy toward my situation so we could both be successful at securing a mortgage, closing a purchase and not losing time or money.