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Infinity Group Services Complaints - 4.375% rate not available

Review all Infinity Group Services complaints

Infinity Group Services
Posted: 2009-06-09 by   Cathy
4.375% rate not available
Complaint Rating: 100 % with 13 votes
Company information:
California
United States

We agreed upon a 30 year fixed loan at 4.375%.
Signed the final loan documents 6/2/09 with right to cancel by 6/5/09.
Received call from IGS processor 6/9/09 to say that our loan could not be funded at 4.375% and that the new rate would be 4.875%.
I said we weren't interested and we'd like our $995 back. She said we wouldn't get our money back because they weren't actually canceling the loan, only changing the terms.
I asked that she have her manager contact me.
Since then I'v been been in touch with the National Association of Consumer Advocates, KFI talk radio, master card, the notary, and the appraisal company involved with the loan.
Please leave a message if you've had a similar experience.
Comments United States Loans
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More Infinity Group Services complaints
Infinity Group Services - home loan
Infinity Group Services - Not Getting Refund as Promised
Infinity Group Services - Fraudulent Re-fi
Infinity Group Services - Loans/Refi
Infinity Group Services - Fraud
Infinity Group Services - Did not honor rate
Infinity Group Services - not honoring the loan rate promised and I signed for
Infinity Group Services - Scam - kahram zamani
Infinity Group Services - Fraud
Infinity Group Services - They are crooks!

Comments

 Sort by: Date | Rating
 163 days ago by   Pamela Bozanich 0 Votes
Same problem, same result - can't fund our loan at the agreed upon rate. Classic Bait and Switch. Unfortunately for them, I am a retired LA County District Attorney and will start the process to drive them out of business. This is illegal. contact me at pbozanich@yahoo.com and maybe we'll do a class action lawsuit.
 163 days ago by   laineborno -1 Votes
I had the EXACT same experience. They dragged my loan out for 3 months, repeatedly assured me that all was fine, they just had a back log. NEVER told me the rate expired. Only told me there was a problem when I started raising hell, and NOW the rate is 5.5% AND they will not refund my money. I contacted the Department of Real Estate and was told this is a violation of law and to file a complaint.

PLEASE CONTACT Pamela at pbozanich@yahoo.com and join forces. There must be DOZENS of us out there.
 163 days ago by   Sharon -1 Votes
Cathy
Contact me; I had a simular situation and know how you can get this corrected with them - they did fund my loan as agreed.
 163 days ago by   laineborno 0 Votes
Cathy, please call me ASAP.

I am Laine on this post, but my real name is Jodi. I am getting the run-around, as I have been for the last three months.
 162 days ago by   Dobbin -1 Votes
I am in the middle of the same thing. Actually signed loan docs on 29th and on 10th was told that they could not fund at the rate promised. Switched from one person to the other. No one can actually say when the rate lock happened or for how long it is for. I can be reached at 8055061001 or dobbinblue@aol.com for any help!
 162 days ago by   Cathy -1 Votes
Sharon can you post your email?
Mine is cfoxjfox@hotmail.com.
Cathy
 156 days ago by   Fed Up with the Insdustry -1 Votes
Please call the Orange County District Attorney. Their phone number is : (714)834-3600.

The website is : http://orangecountyda.com

Please take the time to print out the complaint form and MAIL to them. Sending a copy via PDF file to IGS would also be a nice touch.

A small claims suit is VERY easy and fast. All of the forms are available online. DON"T BE AFFRAID TO STAND UP FOR YOUR RIGHTS. You do not need to organize a class action lawsuit - the tools for handleing this are right in fron of you.

I am a victim of them as well...please do you part.
 156 days ago by   Karl -1 Votes
I started my loan process at the end of march, paid the $995 and for the appraisal . I signed all my loan docs and was told I would fund on 5/29 or there abouts. Like the rest of you I heard nothing and called on 6/11 to be told they could not fund due to the rate rise on 5/27 even though I had signed on 5/15 . I am in limbo as they told me to hang on to see if rates come back down to the 4.6 % I signed at. I really don't want to start all over again but I feel really screwed by this company, I don't have the right to walk away after the 3 day period why do they ? Suggestions ?
 156 days ago by   Cathy -1 Votes
Karl,
email me at cfoxjfox@hotmail.com. There are about 17 of us in similar positions to date.
Cathy
 156 days ago by   anonymous -2 Votes
Same problem. They said my completed and signed-off and locked 4.75% loan was just waiting in line to be funded. Then Jay Lee called me and said they have decided not to fund any such loans! I just found out that they never even submitted my loan to escrow, so it never was in line to fund. Kirk Smith is a monumental liar. I want to shut these guys down! Someone call me, but how securely??
 156 days ago by   Cathy -1 Votes
Email me at cfoxjfox@hotmail.com or leave your email.
Cathy
 156 days ago by   chaka22@earthlink.net -1 Votes
Read your post. I'm in the same sinking boat right now. Two people working on my loan
at the company were fired. Another, they disconnected her phone. Worst customer
service ever. Rude. No one will return my
calls or emails. I wasted 500.00 on home appraisals, I have two charges
of 995.00 that I'm trying to get back, I'm out 2000.00! I emailed KFI (johnandken@kfi640.com), they need to stop running IGS
ads immediately and take them off their endorsed list!!!
- chaka22@earthlink.net
 154 days ago by   IGS victim 0 Votes
I had a similar experience. I signed loan docs on 5-15-09 only to recieve a call today on 6-18-09 informing me that they will not fund my loan at 4.65% . they say my choices are to reset the rate to today's market, or just wait a few months to see if rates drop again. the $995 was supposed to be refunded if the loan didn't close at no fault of my own. Now I'm being told that they may refund part or not at all.
these guys are crooks.
 154 days ago by   Bill Whitfield -1 Votes
Wasn't able to register earlier this week, so emailed the following note to Pamela (the retired D.A. above), but haven't had a reply from her yet either...not replying seems to be catching!

>>> Same problems my daughter's currently having - false advertising on their advertised "fixed" $995 processing fee, dragging feet on the entire processing of her loan application (started in mid-April, promised 4.375% 30 yr fixed rate re-fi "locked until end of June" (in writing - email), but now (just today 6/16) say they can't fund at that rate...and more.

She hasn't decided yet what to do, doesn't like any of their offered options, but based on the other complaints here, cancelling and hoping to at least get her money back doesn't sound like a viable option either.

So, yes, Ms Bozanich, not sure if there's enough supportable "damages" involved to warrant a suit, but by all means, if you decide to file a class action one, I'm sure you can put her down as a potential class member of it! I'll email to your posted address above with contact information for myself and her. Bill Whitfield, Redlands, CA <<<
 154 days ago by   Cathy -1 Votes
Bill,
Pam isn't available.
Contact me at cfoxjfox@hotmail.com and I'll get back to you today concerning you daughter's situation.
Cathy
 154 days ago by   Pamela Bozanich -1 Votes
I have been asked by a representative of the CEO of IGS to retract my statements on this board. I am therefore issuing the following retraction: they did fund my loan yesterday. For this I am supposed to be eternally grateful. Instead, I am curious to know why they funded my loan and no one else's. Upon being informed verbally that my loan would not fund at the agreed-upon rate, I became very, very upset. I threatened them with a lawsuit, and spent some sleepless nights wondering how I'd been so stupid. Then they did what they were contractually bound to do and funded my loan. I am not grateful. I am still mad. Pamela Bozanich
 153 days ago by   joelayn -1 Votes
This company operates in the classic bit and switch scam artist method. I am out $995.00 plus about $100 in fax costs that it took to send the paperwork back to IGS. I too have e-mailed 640KFI, the BBB, the California State Attorney General's office, the Irvine Police Department, the FTC Bureau of Consumer Protection. I have also e-mailed or spoken with 5 representatives from IGS since April 17th. I want a refund of my $995 and I want this company shut down for fraud. Please keep up the fight against this company. It is people like this that have caused this country to be in the financial mess it is in today.
Joelayn Oberg, Simi Valley, California
obergbaby@hotmail.com
 152 days ago by   TickedOffAtIGS 0 Votes
We responded to a radio ad for Hope 2 Homeowners back in November 2008, before Thanksgiving, and talked with Arthur Mack there at IGS (Infinity Group Services). Very helpful guy. Lots of info. No pressure. Told me it’d be done in 3-4 weeks. They’re working on a lot of H4H deals. Sounded good. I did my research on the HUD web site. Looked and sounded reasonable and doable.

Paid them $995. Said that would cover the cost of appraisal and their time. It was non-refundable. Then, after the loan closed, they’d get another $1995. Sounded fair enough to me considering they could lower the principal balance to 90% of the home’s value.

So, with the holidays, we figured it’d close after the 1st of the year. I was fine with that.

Then, January came and went. No progress.

Their processor, Laura Schwarzkopf, tells me that these deals usually take 90 days! If Arthur had told me that at the beginning, then we wouldn't have done this. She also kept telling me that my bank, Downey Savings & Loan, told them that we didn’t qualify because our loan has PMI. Nothing has happened at all now. I'm sick of it.

She told me that her supervisor, Robert Sanchez, would explain it to me. I didn't feel that talking to him would help my case.

I feel like I’ve been ripped off. But, don’t see how I can get my money back. So, I thought I'd fight back by starting this web site. http://www.igsripoff.com/
 148 days ago by   DennisF 0 Votes
All I really need to say is DITTO!

Started 3 months ago. Signed loan docs 1 month ago. Loan was to fund in "about a week". Now they tell me they cannot fund it at all - no money available!

I am contacting an attorney and will keep this board informed of my progress.

The real issue is not the $995, but the hundreds in additional mortgage payments per month for 30 years!
 148 days ago by   WalterAustin 0 Votes
The same thing happened to me. They locked the rate on 5-29-09, I signed documents on 5-30-09. They called me the next week to state they were not going to fund until 6-19-09 so make sure that I make my next payment. Then they called me a few days later to state the rate lock ran out. This was a total Bait a Switch. They don't care about the BBB complaints anymore and will not respond. I am in the process of getting a loan through someone else and then will sue them for the difference.

You can also make a complaint to the Department of Corporations, they regulate the mortgage industry.

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