I first contacted Castle Point Mortgage in 12/04. I was told at that time that we could most likely be closed by 1/1/05. That was a complete and utter lie!
Every week there was something different, they couldn't verify my husbands employment with the last company he worked for, then our taxes didn't show he made as much money due to all of our deductions, then last week, (keep in mind this is 3 months later) they told me they had been unable to verify my husbands employment at his current job. This should have been done months ago.
The original program they had us on would have provided us $102,000 if our house appraised at $130,000.
However, the appraisal came back at $113,000 (the appraiser was at our house for no more than 5 minutes). Then they said they changed our program, with a higher interest rate and that this program required their own appraisal, which came in at $132,000. Then I was told they would loan us $99,000 - then yesterday I was told that this "program" now wanted the first appraisal, which I paid for and was totally bogus, like I said, 5 minutes. The second appraisal took at least an hour and I had the house appraised 6 months ago, which also took an hour and that one came in at $124,000. Now they will only loan us $88,000 - this is after 3 months of telling me week after week that we would close the next week, again, next week.
So, we would wait and our bills piled up and now our credit numbers have dropped 150 points - now no one would loan us money.
There actions caused so much financial pressure on us that at one point my husband walked out on me - thank God he is back - but we have agreed that we want everyone to know what Castle Point Mortgage has done to us. They have single handedly managed to RUIN our lives! Now we are facing bankruptcy or a credit counseling company - we wanted to be good citizens and pay our debts as promised, but due to Castle Point Mortgage, that now can never happen. We had four lenders contact us and we chose Castle Point due to all the wonderful things they said on their web page and what the loan officer told us - Please don't believe it -all lies! I will also be filing a report with the Better Business Bureau. Again, we feel our lives have been completely ruined due to their incompetence!
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