I was buying a house through centex and was convinced that ctx mortgage would give me a fair deal, the loan officer promised that i would not pay any points so i went ahead and let him do the loan. I was getting a 5.625% on the 1st and a 7.5% on the 2nd with no points. I have a 700 fico.
After the loan officer (joe rabbia) screwed up the loan 2 times and we were 2 weeks late to close it finally came time to sign docs, at which time i see that he charged me $4500 in undisclosed fees and tried to stick me with 10.5 on a $113k 2nd mortgage. So i called him the next day and he tells me "sorry, thats the way it is, take it or leave it".
So i had to take the undisclosed charges and instead of taking the 2nd mortgage, i put down 20% which wiped my savings account clean. I tried to switch lenders but centex said i would lose the house if i did so. They f*ed me good, beware of ctx mortgage.
I filed my complaints with the federal trade commision (www.ftc.com) and with the department of corporations, i advise anyone else to do the same! Dont get fooled by ctx mortgage
Nickmurrieta, California
U.S.A.
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