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Castle Point Mortgage / Scam and rip off!

1 6800 Road Suite 105DeerpathElkridge, MD, United States Review updated:
Contact information:
Phone: 800-469-4850

I received calls from Angela Jones from Castle Point Mortgage at my home, job, at all hours of the day and night, weekend including. Finally I decided let me see what can be done. I told Angela about my situation. I told her I had just come out of a bankruptcy and thought I could not get a loan so soon. She said no problem we have a program for you. I told her I need to cash out out of my home to make some repair she said no problem. Let me see what I can do. I told her I did not have good credit, 'no problem' She asked me how much I wanted to cash out I told her the amount, she said not problem. I told her how much my home was worth with the house that are selling in my neighborhood.

So after talking to her she told me that the only out our pocket money they would need from me is for the appraisal she asked for a cc# I told her no. She said well can we have a bank account # they would not charge me until everything was complete. Silly me I gave her my bank information. Then she gets Lisa Wahl on the phone and Lisa tells me everything is going great.

Angela gets back on the phone and tells me that there is a problem and she will have to talk to someone about being able to help she (ANGELA) comes back within minutes to tell me that they said everything is okay and that it is a go. I was to have a closing day within in a week.

Well in the meantime I got sick and called her to tell her I did not want the appraiser to come to my house because i had not been able to get it in order angela said it's not problem they will not stay long. Well lo and behold the take the money out of my bank account put me in the hold because of checks that I had out there that had not cleared then the deduct the money.

I called her and told her I did not give her permission to do that and she said I told you we would need the out of pocket cost. I continue to tell her that I had not authorized it . Well after not hearing from them for a few days. Mind you they use to call at least 3 times a day all week long and now we are unable to reach them. Then I get this voice mail telling me that they were unable to help me because my home had appraised lower that we had discussed. What a crock.

To this day I am still waiting for Angela Jones or Lisa Wahl to call me back. After many calls no answer I receive a notice telling me that they were unable to help me because of my house not being the value they though it would be. Did I get screwed. Most definitely and they sad thing about this is that they are probably doing to many other innocent people. I have reported them to the BBB and the Attorney General hopefully something can be done to put these people out of business. Some of them must of worked for ERON.

Va
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Dj
  7th of Apr, 2008
Agree Disagree 0 Votes

DARTS TO CASTLE POINT MORTGAGE!!!

Our Story is the same as all the others. I Agree with everyone on all complaints. They do take appraisals out of your account as soon as you give them your acc. number or cc. BUT! then they made us get another appraisal at another $350, telling us that the guy who came out didn't appraise it right. We got a second appraisal and then upon closing they took another appraisal fee out saying they paid for it, when we paid both times! Our story is too detailed an aggravating to write. I could write a novel.

Ours took place over several months and they get you in a place where they make things worse! If you weren't already in a real mess, you will be after they get through with you. We did get a gentleman who must have felt some guilt, but then when closing came around we were screwed for lack of a better word. They promised a lower interest later after we made regular payments without being late, they promised they would FIX the paperwork before they closed on our loan. WELL THEY FIXED IT ALRIGHT! They didn't include escrow into the loan at closing, charged for another appraisal that we paid TWICE!, went up to 12.5 interest when they told us originally 5, then 7 and finally 8 percent.

The notary flagged all of these complaints, Castle Point didn't get back with us, put all paperwork through and we were forced to accept the loan because our home was going into foreclosure. We were stuck between the proverbial "ROCK AN A HARD PLACE!" This was the Castle Point out of New Jersey. It all began with my husband filling out a form on Lending Tree or www.lendingtree.com BEWARE!!!

The gentleman that I referred to earlier who seemed to try and help after this other young guy messed everything up, I think he was a supervisor, well he did have the fee removed and we finally got some money back after being sent two checks to pay off one loan. That is another thing, several loans that they promised would be paid off were not. It was a mess and is still causing us grief. I wrote to this supervisor several times, and he did try to help and then he just stopped and left us in a bind. We were always assured that everything was fine and going great. We have also been sold several times to other companies. It is awful and I feel we are and have being ripped off every time we make a payment.

Thank you for listening/reading my story.

With much regret!
D. Johnson

Va
  25th of Apr, 2008
Agree Disagree 0 Votes
Castle Point Mortgage - Don't trust them
Castle Point Mortgage
United States
www.castlepointmortgage.com

I want to warn all you "credit challenged" consumers. My husband and I were contacted by Josh Shaw from Castlepointe Mortgage telling us he could help us. When he called he gathered some info (SS#, Income, what we feel the house will appraise for, etc) then told me he would call me back shortly. My husband's and my credit are not the best by any means but we are trying to get out of an adjustable rate mortgage that we were suckered into 2 years ago and is about to adjust and we are trying to avoid losing our home.

Back to Josh Shaw - He contacts me back about a half hour later informing me he had good and bad news - first we were denied for a 30 yr fixed but he got us APPROVED not qualified APPROVED for a 15 yr fixed for the same amount we are currently paying - WOW who wouldn't jump at that! I told him to let me call my husband to inform him of the rates, monthly payment, etc and I felt sure we wanted to proceed but let me just run it by him.

I called Josh Shaw back and told him "yes" let's proceed. And could he fax me a good faith estimate etc. (All documents state we are APPROVED). I went home that evening and faxed him all the documents that he requested to proceed (w-2's, insurance docs, mortgage docs, etc. After all we were APPROVED not qualified we were APPROVED!!

The next morning he calls me to get my credit card number for the appraisal fee which he tells me is $350 - then low and behold he charges me $450. I immediately call him as this is not what he quoted me and that is more than I was prepared to give him. He tells me that "oh it’s an FHA appraisal - my bad it is more in-depth" Uh ok that is still not what you quoted me - at this point I have the worst gut feeling you can imagine! I just got that "I am about to get screwed feeling"

Anyways the appraiser comes out on Tuesday and I am making small talk telling him I am concerned that because of the foreclosures in my neighbourhood that I am not going to get what I need. The appraiser asks what I need - I told him $180K-$185K who is what I told Josh I felt we could get appraised at.

The appraiser told me he felt I was right on but of course he had to finish up his research.

Today I get a call from Josh letting me know that the appraisal came in at 180K - Well I'll be that is precisely what I told him a week ago when he took my money. He then proceeds to tell me that they can only loan 97% of the loan and my husband and I would need to bring $5K to closing - Well *** if I had $5K lying around I would not be inquiring on refinancing???

I called him on the fact that he lied and misled us on our loan and they never intended on fulfilling their obligations - I told him about all the complaints I had read and he immediately got defensive with me and rude telling me "what else do you want me to do - your house did not appraise - that is not my fault" - Ummm well I told you it was going to appraise for around 180-185 you chose to document that it would appraise at 190K. You misled me and got my hopes up that you all were "helping us"

I am now trying to dispute the charge with my bank since they charged me for a service under the presumption that this was all that was holding us closing in 15-20 days and they did not deliver on their end of the deal. LIARS!!!

This company is a predatory lender and go after the credit challenged - they get your hopes up and then ***!!!

Zc
  4th of Sep, 2008
Agree Disagree 0 Votes

I was contacted by an Emily Williams in February of 2008. Everything was going cool until she asked for the appraisal fee up front. Ok I didnt Have a problem with that, whatever. I gave them the credit card info and everything. I already told them up front my home is worth over $105, 000. The appraisal comes back for 40, 000. I went off on them and said I will get another appraisal myself and I did and they appraised my home for 103, 000, so I faxed that over to them and they told me that they couldn't use that appraisal. They never gave me a good reason, or nothing. About 3 days later they call me and say they cant do they loan beacause my home has a lien on it and I told them that's a lie. She stated well we cant help you until you pay off the back taxes on your home. I went downtown here where I live and went to the appropriate office to check and guess what...no lien. That's when I started getting pissed off because they were lying and they took my money.

A couple of days ago I close on my loan with another company and guess what...no lien. So i decided to file a complaint with the BBB and they contacted me back today and said that company is no longer in business. But what they dont know is that Im very resourceful and the company is not out of business there just under another name and by any means i am going to find them and when I do i will make sure I get a class action suit going.



update: I think I found Castle Point mortgage under a different name and number.

Fa
  1st of Dec, 2008
Agree Disagree 0 Votes

you all are wrong. First of all it is a normal practice to get an appraisal. Second no one can know if they can help you until after the apraisal. The person who first talks to you badly wants your business. But after appraisal a different department makes the decision if they can help you depending on the price it was appraised. So that is the way it is. You have to pay for appraisal in order to find out if you are eleigibale for it. Every respectable bank has the same policy except they charge alot more for the same appraisals. I know some small one man companies make deals with appraisers and they send an appraiser even they know they are not going to give you the loan. That way they get a percentage of the money that you give to the apprasier. But Castle point is not one of them specially that they are a big organization and the person who is trying to give you the loan is not in contacts witht the department that sends the appraiser to your house.
I did have this experience with a small company they took my money and never returned my calls. I called and begged them t o send me the results of the appriaslas to me so I can show it to another lender and still they would not call me or send me the report. I found out that you can directly hire apprasers. They will do the report in a way that you can submit it to more than one company. But the problem is that lots of large banks they only will accept their own appraisals.

So back off on bad mouthing Castle Point. Go after real crooks. I heard some of their offices are closed and I am sad about it.

Ma
  11th of Feb, 2009
Agree Disagree 0 Votes

castle point mortgage loan officers will tell you that you are approved... and you are... but they are basing your approval on the information you are giving them(or gave them in lendingtree.com) . if you tell them your home is worth a value and it comes in under that value.. your loan will become unavailable as a result. I worked for them for a 4 month period 2 years or so back. there were preliminary loans that i drew up that were approved initially but then fell through when my processor called and found out that someone trumped up their income, falsely stated no late payments on their mortgage or over valued their home. i also had two loans fall thorough when the would be loan applicants stopped making payments on all of their accounts while in processing, even after i had instructed them multiple times to NOT stop making payments... thus changing their credit rating which needed to be kept intact for the loan to go through. also, castle point was drawing up loans to be sold to other mortgage companies. at least once a week the terms, by which these outside companies would accept the loans, changed.

i'm not saying that the mortgage company is all ways right. i left because they were asking me to tell people we could help them when i felt i could not... and they were asking me to "pitch" loans that (if i had been in that person's shoes) i would not have taken and that made no sense to me... and some people signed up anyway. I had a loan that was sent out to be signed in Georgia and when it got there, the settlement company had grabbed half of the wrong paper work out of the copier and sent it to the lawyer to be signed. my clients lost a days pay and had to resign on their loan two days later which means they had to wait until after the weekend to get their money that they needed like right then. the last straw came for me when the first loan i sold called me crying 4 months later because they had changed the terms at signing and she felt she had to sign on the loan. she was now in the process of losing her house and was calling for help. she didn't have to sign the loan papers and after she did, my state offers a 3 day rescinding period. she could have canceled her loan and kept things the way they were. i called her to see how the loan went and she was mad about it and never returned my calls.

all i can say is buyer beware on everything that's being sold to you. check out all companies that you deal with. google everyone's name. check into the laws in your state. find out your rights. know your home's value. plan for the future and don't think everything is going to be sunshine and roses... keep a savings account and be frugal... and if you know or think you can't do the loan... SAY NO. I feel bad for the people who lost their homes... but you have to take care of your self folks. arm yourself with knowledge and protect yourself. no one is going to do that for you.
very few people in this world are going to stand up and say this is not right... i quit like i did.

oh and beware the banks that send out someone to appraise your home with out charging you... as that appraisal is rolled into your loan cost on the bottom line and is much more than the $400 people are complaining about with castlepoint. don't be afraid to ask and what is this going to cost me? can i get that in writing? is this preliminary? what is this approval based on? will your guarantee your terms in writing? will this loan be sold in the future? if anything does not match up... you do have the choice to say NO way... and walk away.

Ss
  21st of Dec, 2011
Agree Disagree 0 Votes

Castle Point Mortgage has always been a scam! Run by a bunch of drunk frat brothers who made some money and got greedy. while their customers are losing their houses they are going on trips and building mcmansions for themselves! Don't trust anyone that calls YOU for a loan, they are bottom feeders that only want that cc number to make their weekly quota...

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