Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:06/20/2024

  Type:Order Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Company shared my information without my consent. Ran a credit check that lowered my FICO score by 25 points without my consent.

  

  Business Response

  Date: 06/27/2024

  *****************,

  We understand your concern about shared information and the potential impact on your credit score. At Unlock, we prioritize consumer privacy and do not share your information with any other parties. We only perform soft credit checks, which do not affect your FICO score.

  One of our managers is currently assisting you in obtaining more information from the credit reporting agency regarding the drop in your FICO score. Please note that the credit scores we use are directly received from the three major credit bureaus and may differ from those provided by your credit card company or other financial information providers.
  

  Additionally, you have the right to receive a full copy of your credit report. You can obtain your credit report from the following links:
  Annual Credit Report
  Equifax
  Experian
  TransUnion

  
  We apologize for any frustration and appreciate your understanding as we work to help resolve this issue.

  Sincerely,

  The Unlock Team 

  Customer Answer

  Date: 06/27/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *****************************

• Initial Complaint

  Date:03/20/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I spoke to the ************************* about my property. I normally don't trust people online but I thought that this business is legit. We spoke one time she gave me her phone number and she said she will call me back about my home insurance she never did. Every time I will call her she's not answering and I left two messages and text but no response. I'm very nervous about this company. They are not professional about dealing with their customers.

  

  Business Response

  Date: 03/21/2024

  We sincerely apologize for the inconvenience youve experienced and the frustration it has caused you. Rest assured, addressing your concerns is our top priority. Your Home Equity Consultant is scheduled to call you on Monday to discuss your property and address any outstanding issues. We appreciate your patience. Thank you, The Unlock Team 

• Initial Complaint

  Date:11/15/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been dealing with Unlock for weeks and it was always one thing after another. After realizing we had a Deed of Trust attached to our home, Unlock said they would pay that off as we had the equity to do so. The last conversation I had was we will send a ************* and funding will be in the next few days. About 4 days later I received an Email that stated they couldn't meet out needs. I scheduled 2 calls with my representative which were ignored and also Emailed them which were ignored. I simply want an explanation of how we go from get ready for funding to we can't help you. We had already been approved! Their lack of communication is astounding!

  

  Business Response

  Date: 11/16/2023

  ***************,

  We apologize for the issues you faced while working with Unlock. After reviewing your file, we found gaps in communication on our part that caused confusion. We take customer satisfaction seriously and will use your feedback to improve our process.

  Sincerely, 

  The Unlock Team 

• Initial Complaint

  Date:02/18/2023

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My 70 year old father passed away and we just discovered that Unlock allowed him to trade $350k in exchange for ****% interest in his $1.8 million estate - thats a profit of $316,000 in under 2 years! And the contract has impossible timing deadlines due to death and the resulting action is immediate property sale (that my fathers estate is responsible to pay). This is senior financial abuse.

  

  Business Response

  Date: 02/18/2023

  Hello ***********
  
  First off, from the entire team here at Unlock, we are sorry to hear about the loss of your father. 
  

  We wanted to let you know that your father's home equity agreement (HEA) will be subject to our annualized cost limit (ACL) which is designed to protect homeowners and family members in these types of situations. The payoff amount will be substantially lower than what you indicated in your post above. However, it is very important that you reach out to Unlock's clients services as soon as possible to get the correct payoff amount before you move forward with any sale of the property. You can reach out to our head of client services ***************************** at ********************************** or you can call **************, M-F 8:30-5:30 Pacific Time.
  
  Thank You.

   

• Initial Complaint

  Date:12/02/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Unlock is my current home equity lender. My house was devastated by hurricane *** in September making it unlivable. My flood insurance company issued a deposit check which I had to send for an endorsement from Unlock. The check was not endorsed properly, my bank would not deposit it. I had my bank call Unlock to explain what had to be done. I mailed the check back to Unlock and I still do not have a check or any indication that they are taking care of it. I am now out of personal savings and need this check to continue with my home rebuild. The check was sent back to them on 11/21/2022 and as of today 12/2/2022 I don't have a properly endorsed check or any explanation/communication from Unlock.

• Initial Complaint

  Date:10/28/2022

  Type:Product Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Did an equity agreement with unlock received a fake letter from someone reported to be a CEO there was no viable contact for that CEO and that individual never responded to my emails there are no viable company contacts after a deal is made there's no longer any interaction with the company so problems cannot be addressed I tried to reach individuals like *********************** ******************************* *********************** all to no avail the company in which a check was written to has altered the figures and now I'm at a loss of $10,000 but there's no one who is responded to repeated request from the company to me about this problem the only solution may be to file in court.

  Customer Answer

  Date: 11/01/2022

   

  The company has taken care of the problem do I need to wait to there for them to respond or how would that work?...M.. Cushe

• Initial Complaint

  Date:08/19/2022

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I wanted to get a loan using my homes equity and I found unlock online. I applied for the loan and after a few weeks was approved. unlock partners with value net to get what's called a hybrid appraisal. the appraisal was completed and the value of are home was around 80 thousand less then any home in are subdivision. after going over the appraisal I noticed several errors to include wrong sq. footage as well as pictures of the wrong house and several other mistakes. after contacting unlock we were denied a second appraisal even offering to pay for a real appraisal are selves we were turned down. unlock only uses value net which i believe should be illegal as the appraisal is done by the same company every time this creates a relationship between the two company's to maximize profits by undervaluing property's there are a few complaints online which state the same from other people who have used unlock and value net . do to the low appraisal unlock has made thousands of dollars in profit on the day of signing. my second complaint is the closing company who held are funds after signing for days after many calls and emails to unlock nothing was done to correct this it was not until a review was posted on ******** did unlock get the closing company to actually wire the funds. i would like to add that i believe that these access your homes equity with no real qualification process will cause many low income family's to loose there home in the long run. these company's target people who could not qualify for a heloc or refi based on income requirements and other factors. in my opinion these type of predatory loans will potentially cause a housing market crash. I will be filling a complaint with the attorney general as to this matter as well.

  

  Business Response

  Date: 08/29/2022

  ****,
  
  We audited your closing file and we are sorry to hear that you had a frustrating experience working with the third party independent appraiser. Our goal is to come to an agreement around the fair market value of the home that both you and Unlock can agree on. In this case it sounds like you were not satisfied with the value as presented in your agreement but chose to move forward.
  
  Our records indicate that you were scheduled to close on June 15, 2022 but pushed the signing and close date to July 1st 2022.  Because of this delay, and the Independence Day Holiday we were unable to disperse funds until July 8th. For this we do apologize.
  
  Finally, because an Unlock home equity agreement (HEA) is not a loan we are able to assist many consumers like yourself that would not be able access their home equity through traditional methods. We care deeply about the homeowners that we serve and wish you best moving forward.

  Sincerely,

  The Unlock Team

• Initial Complaint

  Date:06/10/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  We reached out to Unlock about 10 weeks ago. We explained our financial situation and they advised they can still move forward but I would have to remove myself from title of the home. I agreed. The appraisal was ordered, Unlock pulled title and asked us to removed the existing Aven Credit Card line on our title which was never used. We did. The appraisal came in low at $495K which I disputed and Unlock agreed that the value should be higher. I was then told a 2nd appraisal would be requested. Three weeks went by with NO communication from our ********** I sent emails, left messages and spoke with other reps within Unlock. I had already asked for a manager to call me which NEVER happened. I was given a time frame of 1 week for the 2nd appraisal to be completed. Three weeks later and then found out that the original company that completed the way under value appraisal agreed with the first but raised if by $5K so no 2nd independent appraisal was completed yet. So now a 2nd was requested and now value came in at $545K. Received an email from Hoz go and removed yourself from title. Completed. Then they come back and say we need to pull your credit. WHY? Well your on the NOTE. This was discussed at the very beginning. So now after 10 weeks of lies, they came back and denied us. They wasted our time, they lied to us and provided wrong information and now we have nothing. No 2nd that we had and now I'm not on the title of my home. We also had to spend money to get this done. They don't care. Thanks for the lies. Don't' do business with this company, they clearly have not idea what they are doing. I think they are in collaboration with the appraisal company to issue low appraised value.

  

  Business Response

  Date: 06/18/2022

  Dear ***********************,
  
  We're very sorry to hear about your application experience. At Unlock, we strive to handle every customer with care and careful consideration.  After a detailed review of the facts and circumstances of your application by Unlock senior management, we acknowledge our teams communication was not up to our standards and we take full responsibility for any inconvenience this caused you.
  
  Regarding valuation, we disagree with the comment that Unlock collaborated with the appraisal company to issue a low appraised value. Unlock relies on independent 3rd party valuation experts to provide an estimate of the subject property value.  Sometimes the appraisal process is lengthy due to circumstances that are not in our control, and sometimes more than one appraisal becomes necessary.  In your case, we ordered an appraisal from an independent licensed appraiser and, when the value came in below expectations, we obtained a 2nd independent valuation report which supported a value that we were both satisfied with.
  
  Ultimately, we are glad that we found a solution that worked for you and look forward to closing your Unlock home equity agreement next week.  We greatly appreciate your business and plan to incorporate your feedback in making improvements to our process to better serve our customers. Thank you!
  
  Sincerely,
  
  Unlock Management