Complaint Rating:

Company information:
Sub 500 Mortgage
8910 University Center Lane #400
San Diego, California
United States

I had a mortgage which was bought by Sub 500 Mortgage. I was late on two payments then caught up on those payments and was about to pay off my entire loan amount. I wrote several letters and also called to ask for a payment break down. They never responded by letter but when called, they said that they are working on it and would be in the mail shortly. Five months have gone by and still nothing. I sent in a bond which was double the amount of the remaining balance to pay off the debt. They held on to the bond for months and only recently returned it saying that they had since sold the debt to another company without notifying me. Now that several months had passed and they never used the bond to pay off the debt, the new mortgage company has filed to foreclose on my property.

This company is a fraud and people should stay away.