This mortgage banker "specializes" in sub-prime lending - otherwise known as bad credit. He responds pretty quickly promising that he can get the deal done.
After taking your personal information, gathering sensitive documents, and evaluating the situation - he'll tell you, "based on this, I've got programs for you." But he doesn't.
He'll go so far as to have you pay for, up front, and get an appraisal for your property to "close the deal" and will leave you holding the bag.
He can't get the deal done. You'll be out $500 for appraisal costs and possibly other fees associated.
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