I had searched for the house over year and finally found my dream house and was so exciting after the seller accepted my offer. I applied a BOA loan but their loan specialist was horrible. I hardly can get hold of them to discuss about my loan. One day, i got a phone call from home loan consultant and they were telling me that they can close the loan within a week and offer a better deal than BOA loan. I mean they promised all the good stuffs and they were so good to update me the status daily. I checked BBB website, and they got A rate. I had no doubt with their service and putted all my trust in them. I started to schedule for remodeling or stuff for my dream house.
Four days before closing date, they asked me to do the appraisal review. I mentioned them about the BOA no closing cost service that they said before they will try to match with but she said "oh the appraiser told her that only costs $50" ...go head do it to avoid the delay. When appraiser contacted me, the lady said it will cost $150 dollars for appraisal review. I had no choice but agreed to pay for service.
All the loan doc turned in after a week delay. They still don't want to fund it and requested appraiser to re-sert the house not related to the fire on Nov, 2008. I mean this house is located in Santa Ana, not even close to that fire area. After two day delays, finally they emailed out to everyone that the bank will fund the money on Dec 31, 2008 ( 2 weeks after closing date).
On Jan 02, 2008, i had ppl coming the house to do the remodeling and my agent called me to hold off everything and asked for the key back. They did not fund the money. Escrow and I was trying to contact them and finally got hold of VP. All he said that it has nothing to do with my file and that they got a bad investment and that the contract was expired and they need to re-draw the loan doc again by next week.
My god, i lived in hell and horrify with the news. The seller requested to pay for her mortgage or they will put me to the small claim court to get my deposit money $5000. I finally got an agreement with seller to pay her penalty to expend my closing date. I called the loan specialist next day, and they all disappeared..noone is calling me back with explanation or update me with status.
Finally, the loan specialist emailed me with short note that she will take care of my loan and will have my loan ready this week (Jan 08, 2009). I mentioned her about fee, she did not saything about it. Today is Jan 09, 2009 and all she did is tell me to sign couples forms ...no loan doc or anything
I just want to write this complain so you guys can watch out about this company. I had filed the complain with BBB and will put this story over the web.