Home Refinance

[Debbie Stephens]

What is the name of your state? What is the name of your state? Florida

 

[HomeGuru]

What is the name of your state? What is the name of your state? Florida


TWO MONTHS AGO, I APPLIED FOR A LOAN WITH A COPMANY THAT CLAIMED THEY SPECIALIZE IN SELF EMPLOYED OWNERS.
I WANTED TO GET CASH TO PAY OFF CREDIT CARD DEBT. I APPLIED FOR THE LOAN AS "STATED INCOME". THE MORTGAGE BROKER SUGGESTED THAT WE DO A RE-FINANCE, SINCE MY ORIGINAL RATE WAS HIGH. HE WOULD DO AN 80% LOAN AT A LOWER RATE FOR 30 YEARS AND THEN A 20% LOAN FOR 15 YEARS WITH A SLIGHTLY HIGHER RATE. I ONLY BOUGHT THE BRAND NEW HOME 2 YEARS AGO AND RATES WERE HIGH THEN. I FILLED OUT THE APPLICATION, PAID FOR AN APPRAISAL AFTER HE SAID I WAS APPROVED. HE SAID THE 20% LOAN WAS NO PROBLEM, BUT HAD A PROBLEM WITH THE 80 PERCENT. SEEMS THE LENDER WANTED MY BANK RECORDS FOR PERSONAL AND BUSINESS ACCOUNTS. HE SAYS HE WENT BACK AND SAID I WAS DOING STATED INCOME AND THEY SHOULD NOT ASK FOR THAT. AFTER A DELAY, HE "PULLED" THE LOAN FROM THEM AND WENT WITH SOMEONE ELSE. WE CLOSED ON THE 25TH OF JULY. HE DID NOT TELL ME IT WOULD BE ANOTHER WEEK AND A HALF FOR THE 2ND MORTGAGE UNTIL THE DAY BEFORE THE CLOSING. ALSO WHEN WE GOT THERE, WE HAD TO BRING BACK MONEY DUE TO HIS NOT FIGURING THE PAYOFF CORRECTLY. WE PAID ANOTHER 752.00 WITHIN THE 3 DAY WAITING PERIOD. THE DAY BEFORE THE 2ND CLOSING, HE SAID THERE WAS A PROBLEM WITH IT TOO. THE LENDER WOULD NOT RETURN CALLS OR FAXES. BAD SIGN! HE THEN SENT IT TO SOMEONE ELSE LOCAL. NOW, THERE IS ANOTHER PROBLEM. THIS LENDER PULLED A 4506 AND SAW MY TAXES, SO THEY WON'T DO THE LOAN. I NEVER SIGNED A RELEASE FOR THIS. NOW HE HAS SENT IT TO ANOTHER DEPARTMENT THERE FOR SOMETHING CALLED A DOVE LOAN. I'M AT A LOSS AS TO WHETHER HE HAS DONE SOMETHING ILLEGAL, IS INCOMPETENT, OR WHAT. BOTTOM LINE IS WE HAVE REFINANCED THE HOUSE, PAID $1,000.00 OUT OF POCKET, CANNOT RE-FINANCE WITH SOMEONE ELSE, SINCE WE JUST DID IT, PAID CLOSING COSTS ON THE NEW MORTGAGE, AND IT'S BEEN 3 WEEKS SINCE THE CLOSING, AND WE STILL DO NOT HAVE THE LOAN FOR WHAT WE ORIGINALLY APPLIED FOR. IF A BROKER TELLS YOU YOU ARE APPROVED, "NO PROBLEM" SHOULDN'T WE HAVE SOME RECOURSE? WHAT ABOUT PULLING THE 4506, IS IT LEGAL? WE WOULD NEVER HAVE REFINANCED THE HOUSE, WITHOUT HIS ASSURANCE THAT WE WERE APPROVED FOR THE WHOLE DEAL. THE 3 DAY WAITING PERIOD DID US NO GOOD, SINCE WE WERE TOLD WE HAD THE LOAN. WE DID NOT REALLY GET THE OPPORTUNITY TO CHANGE OUR MINDS. HE SAID HE HAD TO WAIT A WEEK, SO THAT THE 1ST MORTGAGE LENDER COULD FILE AND SHOW THAT THE ORIGINAL LENDER WAS NO LONGER THE TITLE HOLDER. HE ALSO NEVER RETURNS CALLS, I HAVE TO CALL HIM BACK CONSTANTLY. CAN I DO ANYTHING ABOUT THIS AT ALL?
THANK YOU FOR ANY HELP YOU CAN GIVE. I KNOW THIS WAS LONG, BUT I FEEL COMPLETELY MISLED AND THIS COMPANY IS MESSING WITH OUR FINANCIAL WELL BEING.

**A: post rejected for failure to adhere to posting instructions.