I understand that the complainant is not satisfied with my response, as most customers are not when things do not go their wayAgain, my answer based on the contract is that they are in default as stated in the terms of the signed agreementThe customer was approved and was credit worthy and based on their actions, it caused their score to go downI state again that the customer never informed us of this and only did when it was brought to my attentionMuch work was done and expenses incurred on their behalf.I have notified them in writing as to the status of their accountI also encourage Mrs*** to apply if she indeed has a credit score and the income needed she may qualify and will be given credit 100% for their earnest moneyI am looking into the proposed appraisal and if the appraisal was not done, they will absolutely be refunded the fee givenI do not get copies of the customers appraisalsThey go to the mortgage companyI have informed Mr*** that I hope to return any monies he has coming minus expenses, I apologize that it is not as fast as he'd like or on his timelineRegardless of the threats they have made I believe that my Company followed our contract to the fullest.SincerelyDavid J G***
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint
[Provide details of why you are not satisfied with this resolution.]
Regards,
[redacted] and [redacted] came into my office in March interested in building on their lot. I explained the process and they agreed to fill out a pre application for a construction loan. The initial response was Mr. [redacted] qualified on his own. His credit score was 656 and Mrs was 582. Her score...
was too low and she did not work. They agreed to move forward and they brought all their documentation and left initial deposit of $1,500. We began working on construction plans and they advised we had time due to the fact that they had a mobile home on the lot and a lease agreement until June. Contrary to Mrs. [redacted]s comment that we gave them 1 week to move mobile home is not true. Mr. [redacted] was told that until the mobile home was removed, we would start process on the property site.When mobile home was removed we requested that Mr. [redacted] bring in updated income and asset documentation for final loan processing. We also had completed his house plans after several revisions. We also finalized house price in May and He came in to review and sign construction contract. I personally reviewed the contract and he signed it. Mrs. [redacted] was not present nor did she need to sign. Her score was not 700 as she states. They were also required to leave the amount of 3.5% down to cover money required by interim loan investor. He did make a payment at a later date which their check bounced and they replaced it a week or so later.At this point all paperwork was sent to the mortgage lender to get final approval for loan closing. At that time it was discovered that his credit score had dropped significantly due to late payments. He never advised me of this and I was notified via the bank loan officer. The contract clearly states that if the buyers credit score has dropped causing loan denial they are in default and the contract is the contract not verbal conversations.I did advise both the [redacted];s at initial meeting that if the loan was pre approved and the file was denied by mortgage company they would get their earnest money back minus any expenses spent on their house project. I met with Mrs. [redacted] and Mr to give them options to increase his credit score. They agreed and I did release $1000 for them to make payments on the accounts in question. They were given a written plan but after receiving the /$1000 check he said he could not do it and anted to wait until January. I consider this as defaulting on our contract and I have spoken, texted and emailed with them until October 19 when I sent them a letter to his current address with response and requesting that they no longer call or text me but communicate in writing. I am also enclosing this letter.I really look forward to helping them but in consideration of the circumstances cannot on their expressed timeline.David J G[redacted]
I understand that the complainant is not satisfied with my response, as most customers are not when things do not go their wayAgain, my answer based on the contract is that they are in default as stated in the terms of the signed agreementThe customer was approved and was credit worthy and based on their actions, it caused their score to go downI state again that the customer never informed us of this and only did when it was brought to my attentionMuch work was done and expenses incurred on their behalf.I have notified them in writing as to the status of their accountI also encourage Mrs*** to apply if she indeed has a credit score and the income needed she may qualify and will be given credit 100% for their earnest moneyI am looking into the proposed appraisal and if the appraisal was not done, they will absolutely be refunded the fee givenI do not get copies of the customers appraisalsThey go to the mortgage companyI have informed Mr*** that I hope to return any monies he has coming minus expenses, I apologize that it is not as fast as he'd like or on his timelineRegardless of the threats they have made I believe that my Company followed our contract to the fullest.SincerelyDavid J G***
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint
[Provide details of why you are not satisfied with this resolution.]
Regards,
[redacted] and [redacted] came into my office in March interested in building on their lot. I explained the process and they agreed to fill out a pre application for a construction loan. The initial response was Mr. [redacted] qualified on his own. His credit score was 656 and Mrs was 582. Her score...
was too low and she did not work. They agreed to move forward and they brought all their documentation and left initial deposit of $1,500. We began working on construction plans and they advised we had time due to the fact that they had a mobile home on the lot and a lease agreement until June. Contrary to Mrs. [redacted]s comment that we gave them 1 week to move mobile home is not true. Mr. [redacted] was told that until the mobile home was removed, we would start process on the property site.When mobile home was removed we requested that Mr. [redacted] bring in updated income and asset documentation for final loan processing. We also had completed his house plans after several revisions. We also finalized house price in May and He came in to review and sign construction contract. I personally reviewed the contract and he signed it. Mrs. [redacted] was not present nor did she need to sign. Her score was not 700 as she states. They were also required to leave the amount of 3.5% down to cover money required by interim loan investor. He did make a payment at a later date which their check bounced and they replaced it a week or so later.At this point all paperwork was sent to the mortgage lender to get final approval for loan closing. At that time it was discovered that his credit score had dropped significantly due to late payments. He never advised me of this and I was notified via the bank loan officer. The contract clearly states that if the buyers credit score has dropped causing loan denial they are in default and the contract is the contract not verbal conversations.I did advise both the [redacted];s at initial meeting that if the loan was pre approved and the file was denied by mortgage company they would get their earnest money back minus any expenses spent on their house project. I met with Mrs. [redacted] and Mr to give them options to increase his credit score. They agreed and I did release $1000 for them to make payments on the accounts in question. They were given a written plan but after receiving the /$1000 check he said he could not do it and anted to wait until January. I consider this as defaulting on our contract and I have spoken, texted and emailed with them until October 19 when I sent them a letter to his current address with response and requesting that they no longer call or text me but communicate in writing. I am also enclosing this letter.I really look forward to helping them but in consideration of the circumstances cannot on their expressed timeline.David J G[redacted]