I obtained a mortage with the company at the age of 28. I was not familar with mortgages at all and I really want to own a property and I had less than perfect credit and I am a single parent. So I figured I needed to start out somewhere. I have had nothing but problem with this company. They tried to foreclose on me due to Taxes not being paid and they were and insurance not being forwarded to thier office.
Now I find out that The condominum association supplies the title insurance and I should not be responsible for carrying this policy. And further more their prepayment penalty is OutRAgeous! 60 months at 15% on loan balane so a property that I only paid 57,900 for is now 70,000 to pay off after 2 years of payments and = the down payment. They are really making a killing. I had no clue about prepayment penalties they rushed the closing nothing was detailed explained just brief I would have never entered such a contract.
Now finally I find out they never reported to the credit Bureaue and I have been paying for nothing a loan nobody even knows I have so I decided to refinance with a real bank and get out of this situation once and for all. I now find another clause in my loan aggrement that they have a right to refuse me my refinance and offer the same terms when they know very well I don't want business with them anymore; they have done this to many people they call you yelling and screaming if you are late on a payment I refuse to loose my home I have now had to place on the real estate market because this is my only way out.
I am warning anyone for this company - it is not the way to go. I wish I hadn't. Fix your credit and get a real bank reputable company you will regret it just as I have and when you don't know anything about loans and how they should work you will be another victim. BEWARE! Aryelle & Raquel Corporation. I am sorry that I didn't How can somone tell you you cant sell or refinance your own home without their approval.
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