Wilmington Finance/Morequity / Business Practices of Wilmington Finance/Morequity
I advise anyone on this planet to avoid Wilmington Finance/Morequity. I did a refinance a year ago and regret that action every single day. It began with an appraisal done on my home by an appraiser hired by Wilmington Finance that over shot the appraisal of my home by approximately $30, 000.
This has resulted in a mortgate payment I simply cannot afford. I have submitted packages to their loan mitigation department trying to get a loan "overhaul" to lower my interest rate resulting in a more affordable monthly payment.
When doing my refinance, Wilmington Finance was to payoff existing credit cards and a car loan. The checks for the payoffs where sent directly to me - not the company being paid. The amounts of each check they submitted where for the wrong payoff amounts. Therefore, resulting in me having to come up with additional monies to satisfy these payoff amounts. Another Wilmington Finance nightmare!
Wilmington Finance did in fact submit a fraudulent appraisal, and I am seeking legal recourse. I would urge anyone that has been subjected to this practice to contact an attorney - it is illegal for Wilmington Finance to produce such documentation at the buyer's expense.
I would strongly urge anyone considering doing business with this company to please look elsewhere.