Me and my fiance just purchased our first house. I was told that buying a house would be the most wonderful enjoyable thing in your life so enjoy it. Then I ran across this company ran by former Ameriquest employee John Sarris. He runs his own company in Tampa, Florida on Lois Avenue called STS Lending. We purchased a house for 159,000 dollars and we find out 2 hours before closing that we owe an additional 741 dollars at closing.
After being told for the last 2 weeks we would not have to pay any closing costs and most likely would be getting money back. We went with 103 percent financing with a sellers concession for the other 3 percent to pay closing costs. Seller was supposed to pay for all the title fees. STS lending tried to go behind our back and use there Title company. KEL Title Company. But it was in the contract that seller would pay title costs. We asked Joe Smith who is employed at STS Lending cause he was our loan officer. He said because our title company is so much faster and that the title company that the seller is using our a bunch of idiots. They did hire a Notary processor for the title and charged us 300 dollars even though all title costs were to be paid by the seller.
When Joe Smith was asked why he did this and charged us for it, when the seller should be paying these fees. His reply "Thats just the way it is and its too bad your closing in an hour deal with it" So all in all the total closing costs was 11,000 dollars for a 159,000 dollar house and we were lied to by Joe Smith, David Wynne, John Sarris throughout the whole process and we asked for a Good Faith Estimate 5 or 6 times during the process and theyh kept making excuses that the title company hasnt gotten them back the correct paperwork and that they couldnt give us a good faith estimate until then.
Well guess what we find out over the phone by Joe Smith that we owe money and wont see the contract details till closing. Well after paying 2000 dollars down to the real estate which goes towards the house that we cant get back now cause it is too late. We were told throughout the process by Joe Smith that closing costs are normally 6% which when I went to school 159,000 dollars times 6% equals 9540 dollars. We did 103% financing plus 3% sellers concession. Which means are loan is for 168,540 which would take care of the 6% closing costs. Add in that we paid 2000 dollars down on the house and now we owe an additional 741 dollars at closing. This company ripped us off for 2,741 dollars and I will not stop at nothing to see they get what they deserve.
I cannot believe how it is possible for scumbags like this to get away with ripping people off. There isnt much you can do when you have money down and are not told until 2 hours before closing that your closing costs are 11,000 dollars. Beware of these barbaric animals. Watch for an editorial I will be writing in the Saint Petersburg Times as well as the Tampa Tribune on STS Lending. I want the whole world to know about these rip-off artists. John Sarris I hope you can sleep at night knowing that your ripping innocent people off.
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