Usacomplaints.com » Business & Finance » Complaint / Review: MetroCities Mortgage - Metro Cities Mortgage Relocation MORTGAGE RIPOFF!. #189936

Complaint / Review
MetroCities Mortgage
Metro Cities Mortgage Relocation MORTGAGE RIPOFF!

Well here it is the Saturday after the day we were supposed to close. We haven't closed yet because the mortgage company never sent or prepared the loan documents.

Our agent started calling for the documents Two and a half before closing, telling them how important it was that our relocation company have them, to approve them, and to be sure we will be able to get a cashier's cheque in the right amount, to bring with us from California, because we can't wire anything to Missouri once we leave the state of California.

"Oh, don't worry, there's plenty of time."

What they told us.

"The company we use to prepare the documents already sent them on Wednesday."

"The company we use to prepare the documents forgot to send them to us to review"

"The company we use to prepare the documents didn't clear out the unnecessary forms."

"Your agent is a control freak, there will be plenty of time."

Then, "the title company doesn't have anything ready for us."

"The title company has to make up the closing statement and then tell you what you need."

We told them we were leaving a week before closing to be sure we had enough time to get to Missouri, it takes 3 or 4 days we said.

"Don't Worry, Don't Worry"

Come Friday morning, they told us to just get a cashier's cheque for the amount of $21,000.00 (almost ALL of our savings) and that would be good enough, the title company would refund us. The docs will be there.

We aren't stupid enough to carry a cashier's check across America in a U haul, so I FED EX'D them overnight to my Dad's house in Missouri.

What the loan officers at Metrocities didn't know.

1. They already have a bad reputation in Missouri, and with the other employees who have relocated with our company, SO after my BOSS warned me I made sure that everything that is emailed or faxed from the title company to Metrocities, gets sent to our agent, and to us as a BCC: or separate fax.

They had everything on time and early in most cases.

2. Our agent did not trust them, so she has either documented or recorded everything they have said to her, or had us on a party line 3 way call set up, just to be sure they don't tell us one thing and her another. (Which they did, tell us one thing and her another many times, even blaming US because we left California before they could have us sign some final paperwork.)

(She has had to work with them a lot, especially with this relo contractor.)

3. We did the same thing, with our agent on the other line silently.

4. We arranged for an apartment to live in short term, just in case. Our agent already planned for MetroCities to screw up, so she had one on standby.

So as of Thursday, the title company had sent the figures and the closing statement to MetroCities four times, they never returned the statments approved by the underwriter.

When we called them they would say, "We never got the documents from the title company, but don't worry our fees don't change."

As of 4:00 Pm cdt Friday there were no loan documents, no closing statements, and no answer at the mortgage company, only answering machines.

What is the reason for having the bank approve the closing statement anyway???

We have not closed yet. And may not close on Monday.

Every time our agent or the title company calls, they hang up on her, won't answer, have someone else answer, "Their in a meeting" or tell them "It's on it's way", and when we call they tell us "it is our agent's fault" " or "the title company" or the document companies fault.

Not our fault, their fault.

Now they think they have us at their mercy because a majority of our money is tied up in the Cashier's Cheque, and the seller has to close to buy his new house.

Wrong, the builder didn't finish his house on time, so he has to rent the house from us until next month.

Our agent warned us, so we made sure we could re-deposit the cashier's cheque in our new Missouri accounts, so we would have money to live on.

My agent has now extended closing three weeks and gotten us set up with a new mortgage bank here in Missouri.

We may not close until next month now but at least we will close.

The new lender that our agent set us up with, has already had the appraisal transferred, given us a BETTER interest rate (1/2 a point less), and met with us today (Saturday AFTER NOON) to get our documents and paperwork done.

Whatever you do, if you are transferring to another state.

BE SURE you have an agent who is working for you "The Buyer" NOT "The SELLER".

Always work with a bank in the state you are moving into, to get a loan.

Four other employees in my office and my BOSS, who relocated from Arizona and California, said they had a similar experience with METROCITIES or an out of state bank.

DON'T USE METROCITIES MORTGAGE EVER, even if the Relocation company SAYS you will get a better rate if you use them.


Offender: MetroCities Mortgage

Country: USA   State: California   City: Sherman Oaks
Address: 15301 Ventura Boulevard. , Suite D300
Phone: 8187283700

Category: Business & Finance

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