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ComplaintsforB&B Funding, LLC
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Complaint Details
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Initial Complaint
01/24/2022
- Complaint Type:
- Order Issues
- Status:
- Answered
I had a loan that was remodified by B&B funding in 2020, new loan #*********. When this was modified I dealt with a **************************. During the modification process, I discussed the modification Brooke ***** was a mention of a final payment of $37,******. She specifically told me the last payment would be the remainder of the principal due at the end of the payment terms, the amount of which is now *********, that is not paid at the end of the term of the loan, she told me that the loan was set up in such a way that I would be paying mainly interest for the first several years. Never was it mentioned that this would be in addition to the $*********. I specifically asked about this prior to signing the loan agreement about this payment and they lied about the payment being an addition to my current balance and almost doubling what I owed without my knowledge. I only discovered this issue when I got notification that the loan was being transfer to another company and the new company disclosed the total balance. My B&B funding statements do not in any way show this additional $37, ******. I would have never signed the modification paperwork had this been properly disclosed. Secondly, The new statement states that I owe payments for Oct, Nov and Dec. I have not missed one payment since this modification was set up. I have a statement from B&B funding showing that I am current as of Jan. 2022. I attempted to contact B&B funding in writing, as I would like written responses from them but all of their contact emails sent back delivery failures. I would like the additional amount that was added to my original loan the $37,****** removed from my current loan as this was added without my knowledge or agreement and that my payment data be updated to FCI that I am current as of Dec 2021.Business response
02/02/2022
We have contacted ******* and explained to her in the process of transferring the servicing of her file to ************* there were some faulty inputs by FCI.
We sent the current amortization of the loan to ******* indicating the loan has been amortized properly as per our loan modification with her. We are in the process of having FCI fix the input errors, once that is accomplished a new statement will be sent to ******* confirming her figures. FCI listed an amount in their deferred category when in fact that amount is the balloon payment due in 2030. The loan is current. Please contact the undersigned with any questions or concerns.
*********************
B&B Funding, LLC
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Customer Complaints Summary
1 total complaints in the last 3 years.
0 complaints closed in the last 12 months.