In March I contacted Mr. Larry Leal of American Benefit Mortgage which was referred to me by an associate of mine. I explained to Mr. Leal that I have $30,000 equity in my home and would like to refinance the 2nd mortgage. Mr. Leal stated to me that they do not have a 2nd mortgage program. After explaining to Mr. Leal my situation he asked me several question including if I had a prepayment penalty in which I responded. Mr. Leal did some numbers while I waited and he stated to me that he can get me cash out $12,000 after paying all fees and prepayment penalty.
During the process Mr. Leal sent me another email that he can now get me $16,600 cash out. To make a story short the Notary came to my area and I signed the documents stating I would receive $16,600 cash to me. I received a check in the amount of $7,141.58. I called the title company, Southland Title Corporation, to inquire why. The officer answering the phone was Ms. Gretchen Haider who stated to me that she would check into it. She called back a few minutes later and stated the check was incorrect and that I would receive a corrected check next day. I asked how much it would be and she stated she did not know. The new check was for even less, $4,866.50 not $16,600 as stated on the HUD-1..
0 comments