My husband and I moved to Phoenix from Wisconsin recently with our three kids. We called Stacy Miller from American Mortgage Specialists and he gave us the old "I'm from the midwest too" blah blah. He seemed like someone we could trust so we told him what we could afford in payments and after checking our excellent credit he gave us the go ahead. Everything was going along swimmingly until a week before our closing, I smelled a rat because he wouldn't return our calls promptly and we hadn't heard much from him.
We had movers lined up and HAD to be out of our rental one day before the closing. When he finally called us he said that he had the flu and so did all the underwriters. Our closing would be pushed way back unless we agreed to a MUCH higher interest rate for a couple of weeks at which point he would absorb most or all of the refinance costs. We were never to have to make that huge payment, yea right.
Ten weeks later he set us up with what was supposed to be our original agreement but when we went to sign papers, there was a prepayment penalty and an additional 5000 dollars tacked on to the loan. Obviously we passed on that one and since our payments are 700 dollars more than they should be, we can, t afford to refinance. Our home is on the market, no can do. Any advice on stopping this sleaze?
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