Be afraid... Be very afraid!
In my opinion, CPA mortgage in Fall Chuch Va has no intergrity. Here's why I believe this. I am the seller selling my home. CPA mortgage wrote this worthless Pre-approval letter that I foolishly believed to have merit. It turns out I was wrong. When questioned about why the buyer did not qualify all of a sudden (Five weeks into the deal and past the closing date), I got excuses. This mortgage company stated to me that...
1. They could not verify his employment.
... What! Common sense dictates that would be the first thing CPA Mortgage should have done.
2. They could not track down the buyers boss.
... See excuse number 1
3. They say the buyer is "self employed".
4. They say the buyer was fired.
... See excuses 1,2 and 3
Yup... It does not make sense to me either.
The list goes on and on. Lets not even talk about how often they put you in voice mail. Every time I called inquiring about this loan they would tell me everything was alright. Then blindsided me at the end.
"Not every mortgage company is bad", however its the rotten ones like CPA Mortgage that give the industry a bad name. Learn from my mistakes and AVOID &CPA MORTGAGE—! I wonder how many other buyers and sellers this company has hurt by not doing their job, and keeping their word!
Below is a copy of the worthless "pre-approval" letter word for word so that you can judge for yourself.
CPA Mortgage
September 02
RE: Mr. Mxxx.
Property address: TBD
This letter is to inform you that Mr. Mxxx has made loan application with CPA Mortgage. We have taken a loan application, verified the credit report that supports the score sufficient for qualification, verified Mr Mxxx's assets and assessed program guidlines with several lenders based on information provided by Mr Mxxx. Based on the data supplied, Mr Mxxx has been APPROVED for the mortgage financing on a purchase up to $400,000 (Four Hundred Thousand Dollars).
Final approval is subject to appraisal, final verification and investor underwriting of the provided information. Closing usually takes 21 to 30 days. For any further questions you can reach me at 703-578-8272.
Sincerely,
Luis Linares
Financial Specialist
TOLL FREE 877-465-0505
OFFICE 703-578-0040
FAX: 703-578-0040
5699 Columbia Pike #201'
Falls Church, Va 22041
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