We applied for a 125% loan. We were told we had the loan and we closed on the 1st loan with us putting out over $1,300 of our own money. We were told our second loan would close within 48 hours with our cash out of $13,000. It never happened. They said they couldn't give us the second loan because I was still married and needed my wife's signature. Which in the state of MIssouri you can own property without the other spouse knowing it. We told them then how did the 1st loan get approved, they said they it was a mistake they didn't know I was married. So the only thing I got out of it was a ARM loan @ a higher interest rate vs my previous loan being a fixed rate. Now we are stuck and was forced to get a line of credit with a large payment. We were definitely deceived and scammed.
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