Hello all,
I tried these past few months desperately to get a home equity loan, to get some much needed repairs done (roof, siding) being the main things. I was totally upfront with this particular company, going to great lengths to tell them what kind of shape my home was in.
Now mind you my home is not ugly it is quite beautiful on the inside, it is just an old Victorian that needs some repair. The roof is at least 10 years old and the shingles are crumbling, falling off, etc. I even sent them photos of it (Home Capital).
Home Capital, Inc, assured me that none of that was an issue, that I just needed my appraisal after repairs to be at least 60,000 in able to secure my loan.
My appraisal came in at 75,000 after repairs. I informed my roofing co I had picked, they agreed to do the work without any upfront money. Home Capital had told me that wouldbe what I had to do, and then to get an appraisal done again after work was completed. Then I would get my check.
Well, after my 450.00 application fee had already been deducted from my bank account, I called to check on my loan status. I found out my loan officer had quit suddenly, and that I had been reassigned to some other guys. Thats when things started to go downhill.
I called. And called... And called... My cell phone overage charges are nealy 100.00 because of this. Never any reply, always a voicemail, never a return call.
I called this new guy's manager, Gerald Chandlin, and did manage to talk to him. He assured me hed find out what was going on and let me know about it. My loan processor, Mercy (unknown last name) was hardly ever available and when I did talk to her about my problems, was very snotty and defensive.
I left threatening messages that I would report them to whoever I could. I called evryday for hours on end and got not one answer, yes or no, on my loan, for weeks.
Best of all, the appraiser who surveyed my property, who is not directly working for the company, but works under Landsafe, complained that they never paid him his money. So Home Capital ripped off two consumers, in my book.
Finally I got through one day, and was told my loan was denied. Just too much work needs done on my house, they said. Then the denial letter came. I am sure this is how Home Capital thrives, as it is not on getting loans for customers, but ripping off potential ones.
I cried. I got angry. I was fed full of lies by these people. I will do my upmost to blast these people's bad reputation all over the internet. I will never live this down. It isnt so much the money at this point, Its the hope that I was given so falsely to be able to save my house ripped out from under my feet. These people are awful and do not deserve to call themselves a business. Thank you for reading this and beware.
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