Sharron Nemeth is a lending specialist at Lendia.com. I choose to refinance with here because she gave me some numbers over the phone that were the best I heard.
Through the process, I found that she had a very small grasp on her duties as a lending specialist. She sent me a Good Faith Estimate (GFE) with number much lower that any competitors. Through the accounting dept at my work I found that there was no Escrow taxes on her GFE.
When I questioned her about it she said that the GFE from a competitor, that I had faxed over, did not include escrow as well. She was wrong, the accounting dartment showed me where the escrow was located on the GFE. She either lied to get my business or she was unable to read a GFE, a standard form.
I had to do much leg work to get this loan to go through, much more then my previous loans. After about 2 months (with some mistakes on my part) we made it to the closing. The original loan was an interest only loan. At the closing I was told that the loan I was signing was a Principle and Interest that raised my payment about $200.00 a month. Financially I had to refinance my house so I had to sign the papers.
The payoff checks came in the main today (7/20/05). We were expect 3 to 4 checks made out to credit card companies, 1 check for $4.00 from one of the loan and another check for approximately $11,000.00 made out to me to pay off the rest of our credit cards and student loans.
We received all of them except the $11,000.00 check and no one seems to know why the check was not sent. That was the last straw. I am in possession of a letter from Lendia.com that states that they will refinance my loan in 2 years with no points and no closing costs. I would rather pay 5 to 7 thousand dollars to deal with someone who knows what they are doing and does not lie.
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