Great American Mortgage
Ripoff dishonest mortgage practices lied stole money hurt credit score

Was contacted in Feb. 2006 by Bambi Olney a mortgage broker, I had a credit score of 685, employed for 7 years as a manager, and in 4 years with a mortgage never late once.

I was told everything in my information looked good, and I inquired as to how much closing fees would be, she told me that the fee was eight hundered and ninty five dollars, and she would be able to get a good rate with nine thousand out of the homes equity for a future wedding that was scheduled for July 1.

We'll Feb went by, March went by, and I started inquiring what was the problem, she assured me everything was ok, I was then promised atleast ten to fifteen different closing dates that kept going by, Bambi apologized and said that she would take a hundred dollars of the closing fees for the delay, so I kept on waiting, finally on the last closing scheduled date, I got a call from Scott Jansen, he explained that Bambi was no longer with the company, and he would handle my file and he would take care of everything.

So, Apr was getting ready to go by, I was starting to get worried because the money was needed to prepare for the wedding, by now I'm in deep you know what with my future wife. I was using my current months mortgage money to pay for the wedding, and I explained this to scott and he kept reassuring me that ther was no problem and I would close before the end of the month and the mortgage company would be paid off, so I would not be late, and he would take good care of me, in the mean time I'm getting contacted by a few other mortgage companies that wanted to offer loans.

I explained this to Scott and he said that he had a closing date scheduled for friday, I inquired as to what rate and fees would I be charged when I would receive a good faith estimate
and he verbally told me it would be a thirty year fixed at five percent, friday came and the owner of the title company came to my home and showed me the papers.

The papers were not what Scott said they were, I immediately declined to sign and he told me to call Scott, I called, and he told me this was just for three months and everything would be corrected, and reassured me that he would take care of me and he would not rip me off, I stressed that the papers were showing eleven thousand dollars in fees, and was a variable mortgage at eight point seven percent, not what he promised me.

He then explained that the eleven thousand was so he could pay my escrow in advance, and still declined, he said that instead of giving me nine thousand he would give eleven thousand, so I figured he started with eleven thousand, he was giving me two thousand more, that makes it nine thousand, he was going to pay my escrow a year in advance, that would make it between five and six thousand dollars, still extreme in my book, but I was stuck between and rock and a hard place.

He kept on reassuring me that everything would be fixed in a couple months, he would refinance me with no fees and would put it in writing and send it to me. I was still hesitant, the owner of the title company could tell, and he also reassured me that if Scott didn't keep his word then he would get me refinanced with the same mortgage lender, he said that he was friends with the owner, and they were gettting there own money to lend.

So, on May first I closed, but when I looked at the paperwork they were back dated three days, I didn't think much, but what was going on was they were taking away my three days to cancel.

This was a big scam, I kept calling Scott for my letter in writing, with no response, he avoided me like the plague.

I then complained on the company website, I was contacted by Chad Buchanan, and was very simpathetic to my situation, he told me that he would honor everthing that Scott had promised me.

Chad attempted to refinance me to a lower rate and was unable to honor his word because my credit score had went from 685 to 575 because Scott didn't keep his word and pay off my mortage before it was late, like he promised.

When I talked to my mortgage company later, I found out that Scott didn't may my escrow in advance, and they actually received eleven thousand six hundred dollars of my money for a loan that I waited almost four months for.

As soon as I tried to get this remedied, or as soon as I mentioned money Chad no longer wanted to help me or keep there promises.

This is simply incompetance, and I would never recommend anyone ever, ever, ever use this company, they all lied to me, including the CEO, Chad Buchanan and stole alot of money from me.

Company: Great American Mortgage
Country: USA
State: Michigan
City: Troy
Address: 888 W. Big Beaver
Phone: 8887234740

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