My husband and I have experienced credit problems and over the years we have been burned by lenders promising to grant loans. We own our home free & clear and Select Capital called our home and promised a mortgage regardless of our credit. They stated we could do this because of the equity of owning our home. We were planning to use some of the money to purchase a vehicle because we are in need of another car. I was sent emails guaranteeing the loan and the car company considered it a binding contract so the vehicle was sold to me.
The manager of the company, Keith Balesk, sent me verification this past Friday stating that he received the CLEAR TO CLOSE from the lender (Delta Funding) and that we were closing on Tuesday 100%... No chance of recission on their part. Just a few hours prior to our settlement, I received an email stating that they couldn't close the loan for us afterall. I had to spend $300 on an appraisal, $100 for tax forms that needed to be sent to them, we started workin on an addition we were putting on the house so we spent $375 on a dumpster to get that started (ALL BECAUSE THEY PROMISED AND GUARANTEED THE LOAN - I HAVE HARD COPIES OF THE CORRESPONDENCE). When I questioned them regarding how they could do such a thing, the reply was "NOBODY HELD A GUN TO YOUR HEAD AND MADE YOU GET THE CAR!".
I would not recommend this company to anyone who is in financial distress and is looking to trust someone. They are very untrustworthy and they made our situation even worse.
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