Please be aware to never use this company and spread the word! I never write these reports, but feel it necessary to warn EVERYONE about Blue Financial:
- They use bait and switch tactics
- They are predatory lenders, hoping you default on your ARM
- The "loan specialists" do NOT know their business, they lie and fake their way through the process
- They charge twice as much as almost any reputable lender and try to hide the fees
- They make themselves unavailable if you have questions
- There is no communication between reps and consumers
I asked for a 30 year fixed mortgage. The rep told me that with my good credit and LTV situation, this will be no problem and we'll close in about a week. After 6 weeks, they sent a notary only to have me sign the paperwork for an Adjustable Rate Mortgage...
During that time, I had to beg for even a manager to call me back to find out why the process was taking so long. The terms and rates kept changing during the process.in order to keep me form going somewhere else, they lied and told me what they thought I wanted to hear and then did their own thing.
My slick, inept sales person (pretending to be loan specialist) was not available during the signing to explain why none of the terms discussed were in the documents I was being asked to commit to.
Please use an established lender, like Bank of America or Countrywide.
Blue Financial is the epitome of the "snake-oil salesman". They lie and make promises they have NO intention of living up to.
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