Aegis is underhanded and unethical is their payment practices. I was told at closing that you could pay no more than 20% of your principal balance in prepayment in a year's time, or there would be a penalty. I have paid an additional $300.00 principal on my monthly loan (total loan of $117,000). Because of this Aegis has the "option" to tack on a prepayment fee, of which was not disclosed to me. It is obvious to me that they do not want you to pay additional principal in order to reduce the loan value.
When I called customer service about this, they REFUSED TO HELP ME OR EXPLAIN WHY THIS IS IN EFFECT. I would like to report that the customer service is lousy; they do not want to help you.
I refinance my home mortgage in June because my previous loan was going into an adjustable phase. Both Countrywide and Aegis "courted" me for my new loan. At the last minute, Aegis came in with a better percentage, so I chose them. I have NEVER had a home mortgage that penalizes you for paying additional principal with your monthly payment.in fact, the payment coupon shows a line for "additional principal."
Do no borrow from aegis unless you want to be underminded and cheated.
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