ComplaintsforGrace Lending LLC
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Complaint Details
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Initial Complaint
01/09/2023
- Complaint Type:
- Order Issues
- Status:
- Unanswered
I started talking with this lender on Dec 22. I signed contract and wired an origination fee of $3,800 and two days later a PMI of $11,400 (they said I would get this back once the loan was paid in full) to this lender because this was not disclosed to me upfront as part of the cost. Per the contract they agreed to a loan of $380,000. This was supposed to be wired to my title company on Dec 30 per the lender. Come Monday, January 2nd, we receive a confirmation of a wire. But it's a holiday. Come Wednesday, January 4th when the lender actually gets back to me, they say the wire was put on hold. They say they won't know until the next day. Later on the 4th, the lender sends me an email saying he "forgot" to disclose a fee and needs me to wire an additional $2,940 before the loan will be released. I refused to send them anymore more money until the wire for the loan is received by my title company. He said he would try to negotiate with his director. Comes back and says they would do 50/50 with me on the fee. I say no and return my money if they are not willing to eat the fee. He then comes back and says they are wiring the loan from a different bank and send a confirmation of that wire on morning of January 5th. The wire was still not received, and the lender is no longer taking my calls, nor replying to emails. I have email communication where he is telling me the wire is being sent and my title company stating nothing is coming to their bank. Please contact me if I need to provide those.Customer response
02/06/2023
At this time, I have been contacted directly by Grace Lending LLC regarding complaint ID ********, however my complaint has NOT been resolved because:
Grace Lending emailed me on 1/12/23 stating ********************* was working on the refund.
I asked for the status of the return. They said it takes 7 business days to process. This was all on 1/12/23.
I followed up on 1/23/23 for status as I have not received. No response received. *******************************
Customer response
02/27/2023
Better Business Bureau:
At this time, I have not been contacted by Grace Lending LLC regarding complaint ID ********.
Sincerely,
*******************************
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Customer Complaints Summary
1 total complaints in the last 3 years.
0 complaints closed in the last 12 months.