Home Finance of America Complaints & Reviews

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Home Finance of AmericaRefinance loan denied

I applied for a refinance of my home mortgage with cash out to pay a second lien. I met all the qualifications including the fair market value from the appraisal and was denied the loan the night before the closing which was also last day of my rate lock. I was told that the investors did not like the comps used in the appraisal and due to a declining market value in the county I lived in. I presented HFA with another appraisal that I had done before choosing to go with HFA due to a lower rate and the investors still denied the loan. I had no idea that this could happen. I am shocked and dumbfounded.
BUYER DEFINITELY BEWARE!!!

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    • Ma
      MAD IN FL. Jun 26, 2013

      Home Financing of America is a scam, I applied for a refinancing in early May 2013, to which I notified the loan processor that I was 1 month away from being 2 full years on my present job, to which I sent [protected] W-2S as required for employment history, that first week of applying, she said that was not a problem..

      The closing date was JUNE 25 2013 and on JUNE21.2013 the loan rep Linda D, calls to tell me the loan is turned down based on my work history, ( I WAS NOT IMPRESSED AND REALLY UPSET AS THEY WASTED MY TIME AND NOW RATES ARE1.5 % HIGHER )

      Home Financing took my $450.00 Appraisal fee and $13.00 credit check fee 3 weeks into the loan process, to which I'm now told may or may not be refunded, wel I will get it back as I believe this is Fraud and negligence on their part

      STAY AWAY FROM THESE CROOKS
      Gary
      FT. Lauderdale Fl

      0 Votes
    • St
      stefanny sommers Dec 01, 2009

      Charged illegally $500 for application.
      Made me prepare a whole file, at the last minute the declined the loan an kept the money.
      They are a rip off.

      0 Votes
    • Bi
      BillDaCat Jan 07, 2009

      Home Finance of America said my loan would allow me half of any drop down in rates before closing but they did not lower my rate.

      2nd.. huge commitment fee of 1200!!!

      0 Votes
    • Pa
      Paul Smart Dec 22, 2008

      THEY SUCK

      0 Votes
    • Pa
      Paul Smart Dec 22, 2008

      This is the worst company ever!!! Don't use them. There workers are under paid and work as if they were in a sweat shop! Everything may look good online but its not. They will scam you and once you get to closing the numbers are not the same at all.

      0 Votes

    Home Finance of Americarefinancing a home

    I began refinancing my home in late August 2010. I was very accomodating with them providing them with everything they had asked for. The underwriters kept looking at everything asking for more information which I would fax to them right away. They took so long that finally after 90 days my appraisal expired, which I informed them well before it happened. I lost $361.00 for that appraisal plus the application fee. I lost the interest rate that I was locked into and now the interest rates are beginning to increase. These people are unprofessional and should be put out of business. I did not have any problem with financing a loan with my credit union when I bought my house two years ago. I still have the same job, and have had an increase in pay since then. There is no reason it should have taken so long. Home Financing of America may have low interest rates, but it seems like a scam.

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      • Ay
        A.Y. Mar 20, 2012
        This comment was posted by
        a verified customer
        Verified customer

        I had a very similar experience (as did two other members in my family). When I first applied for a refi I was told I would get an email with some information to fill out. Never got the email. Two weeks later I got a packet in the mail to fill out, which I filled out and emailed back. Was always told how important it was I do it quickly because my rates could change. So I did just that. Then the next three months were emails asking for more information. After multiple "final lists" I got annoyed and ended by relationship with Home Finance. I went to the lender I used three years prior when I bought my house and found out the interest rates were lower there the week before, which Home Finance did not tell me. I also found out that I was charged $425 for the home assessment fee but I qualified for a Fannie May program where I pay $75 instead. Home Finance never mentioned that. I am still trying to get refunded that money due to malpractice and fraud and the head of the company verbally agreed to do so. Sadly, he too lied and only credited me $65. I will be contacting the BBB about HFAmerica because there is even more that they did that they should get fined for, like sending paperwork for one person to the wrong house-oh, yes happened!
        By the way, I am closing on my refi with Cardinal Financial in less than a week. Got same rate HFAmerica quoted me, cause I missed the lower rate while dealing with them, and I am closing in less than a month compared to their 3+ months.
        Home Finance of America should be closed down because they are unethical and unprofessional.

        0 Votes

      The complaint has been investigated and
      resolved to the customer's satisfaction
      Resolved
      Home Finance of Americapoor customer service

      poor service and false advertisement I was about to close on a refi and when the closer came he stated that I needed a check for almost 3000 without the loan officer Tom Vandeventer leting me know. There were many mistake on settlement papers. the closer and I called Tom and after redoing papers he still had me paying and to begin making payment on th followig month. Papers still had mistakes, seems that Tom the loan officer did not care, laon had to be due to poor customer service and for not doing what you said you would do for first time customers. per Vet Admin. under refi the only monies to come out of pocket should be for the appraisal fees. could not get right after working on loan for month.

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