Valued at more than $10 trillion, the U.S. mortgage market is enormous. And it has garnered its fair share of consumer complaints, logging more than 200,000 since the CFPB launched its Consumer Complaint Database in 2011. That makes it one of the most complained about topics, second only to debt collection. More than one in four complaints the CFPB receives have to do with mortgages.
Let’s take a look at the top mortgage complaints.
Squeaky Wheel #1: Problems arise when consumers are unable to pay.
Well, that makes sense. Consumers who are unable to pay are stressed out about their mortgage, and are thus prone to complaining about it. Right?continue reading »