After being ripped off by Tribeca Lending (see separate report), I then applied to Castle Point Mortgage after being contacted BY THEM via E-Mail. I was told that I needed to have my appraisal which was all of two weeks old, updated to reflect THEIR (Castle Point) name and address.
I was also told BEFORE I agreed to have the appraisel changed that I was 'DEFINITELY APPROVED'. Those were his EXACT words. They knew my credit was bad, but was told 'no problem' REPEATEDLY. So it cost me another $200.00 to have the appraisel changed (after forking out $450.00 for the appraisel in the first place)
Now, before anyone jumps down my throat for trying to get a 'low rate' with bad credit, that's NOT the case. I would've, and STILL would, have accepted a higher rate just to get the loan to fix my house up.
Also, there was a LOT of time spent on the phone with them, faxing documents... Etc. After all this 'hoop jumping', they decide thay can't do it because... MY CREDIT WAS BAD! No sh* Sherlock! Ridiculous.
So, just to re-cap, that's $450.00 for the original appraisel and another $200.00 for the 'update' and STILL no home equity loan... Also realize this is a home owned free and clear (no mortgage) and I was looking for $20-30 grand to fix it up. The house was assed at $62,000.000.
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