University Lending Group

I am a disabled veteran. Decided to remodel the home a year ago with the idea of making the home meet the needs of my progressive disabilities before I am unable to do some things. I did most of the demolition in order to save some money and we moved into a FEMA trailer because we have no other place to go. I have been required to pay monthly payments including interest on the full loan amount although they have only paid out 15% for the past year. On more than one occasion, the bank has delayed payouts from 2 to 3 weeks further delaying construction. There have been some supply chain delays which, in turn, has caused the bank to behave as if this house is theirs and I am a renter. They hold 10% of the loan in abeyance for incidentals and unforseen circumstances. Through the construction process, we have noticed minor things that needed changing to meet my future needs and disabilities. The bank has denied any changes claiming that the construction process must be completed within a 12 month time period. I contacted Fannie Mae and either the bank is incompetent or lying because Fannie Mae revised the loan in February of this year to allow for 15 months from the date of the mortgage closing. An employee of the bank sent us (my wife and I) an email stating that we could pay a contractor under the table to get the changes done so I have had to take out yet another loan to pay for changes that are funded in the loan agreement but they refuse to allow done to “their” asset. Fannie Mae prohibits this in its policies; however, I have no other choice.