Weichert Financial Services has approved me a loan in which they are taking 100% of my salary for the morgage. I am a first time buyer and inexperience on the matter so I place all my trust on their professionalism. I gave them 2 yrs worth of pay stubs and 3 yrs of the tax return forms yet I never knew that they were going to approve me for a morgage beyond my reach and not let me know about it until after the fact, after the closing had taken place.
I considered it a ripoff since they had all the numbers in their hands and knew about property tax, school tax, etc. Of which I was not aware of. Never did they consulted with me about the fact that the monthly payments would be beyond my reach. If 100% of my salary has to go to the monthly payment and they go ahead and approve the morgage it certainly is not an honest business. They knew better and should have been honest with me. However, all I feel was done was to take advantage of my inexperience and trust.
Presently, I am place in a situation in which they might end up with the house (for which I have work very hard) and my credit report in ruins.
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