I would like to report The Home Place as being one of the largest ripoff schemes to date. My husband and I owned our land one and a half years before we even talked to anyone at The Home Place. When we went to The Home Place, an agent for the company walked us through the process and talked about building our house before he even pulled our credit. He asked us if we owned land and we said yes. He had us to fill out some papers about the type of house we wanted and to apply for a construction loan. Everything when through like a breeze. We had our house built and moved in without any problems. We started paying interest payments until we were able to get our permanant mortgage. There the problems began.
The same company that so willful gave us a construction loan would not give us a mortgage. I talked to the agent at The Home Place and he said that our credit was bad and we probably would not be able to find a mortgage. If we did find one, it have a high interest rate. The company did not tell us that the same company that gave us a construction loan would not give us a mortgage. We didn't find this out until after The Home Place had paid off our land and they now owned the house and my land. I only had three months to find a mortgage before the total amount of the construction loan was due. Since we were not able to find a mortgage company, The Home Place foreclosed on our house.
The Home Place should have checked our credit first to see if we could qualify for a mortgage. I truly feel that The Home Place set out to take my land.
I have talked to several different real estate attorneys and they have all said how can a company foreclose on a house without a mortgage. I wish I had pursued this harder than I did, because I feel that I was ripped off by The Home Place.
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