I had read the warnings about Priceline Mortgage, but chalked it up to just a few bad apples. Was I mistaken. I was about to buy a home in Maine, and was told A WEEK before closing that they couldn't underwrite the loan. I heard this from my realtor, not from Priceline. This was on the same day I signed off on their application package, which was filled with wrong information. It said I was married, overstated my monthly income, and listed I was paying rent. None of that was true.
They also told me that MY JOB WAS LOCATED TOO FAR FROM THE HOME FOR IT TO BE CONSIDERED A PRIMARY RESIDENCE!!! Nobody told me this beforehand. I can't even see this being a problem in the first place, but for them to not tell me this might be a problem just shows how incompetent they are.
Anytime I tried calling them, all I got was voicemails. I emailed one agent back and forth and she was "sort of" helpful.
When I called them back after hearing all this info from my realtor, I called Priceline and was told we would have to write a new type of loan, list them home as a secondary residence... And I would be looking at a higher rate.
THIS IS THE SCAM!!! They bring you in with their low rates, and do everything in their power to screw you up at the last minute so you agree to another loan program at a higher rate.
Bait and switch!!! Bait and switch!!!
Take my advice, and stay CLEAR away from Priceline.
Ryan
Stoneham, Massachusetts
U.S.A.
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