Spectrum Funding and their title company (next door to their office), ripped me off at closing. I did a refinance, and when my wife and I asked about prepayment penalties, they advised me at the closing there were "none". It was not until I left the property that they called me on the phone and told me they were wrong, there is a prepayment penalty equal to 6 months of interest, for 2 years, and then it goes to 2 months interest after 2 years.
THIEFS! I say they deliberately deceived me. They knew I did not want prepayment penalties on my loan. I told the people preparing the paperwork that. They along with CHASE Mortgage Co, deliberately deceived me. Why would they answer "NO" when one of a few questions that I asked them at closing was "Is there any penalties for prepayment of the loan?". I say they are thiefs, white collar thiefs that charged me over $5000.00 for the refi, and put me into a loan that has a payoff right now of $16,000 in penalties if I try to refi with a lower interest rate.
I am stuck with the damn loan, and now must seriously consider losing my home, since I cannot make the payments every month, of $2565.00 for my home that is valued at $300,000.00. I have owned the home 2 years, and was never late with my payments until this month (January).
DON"T USE SPECTRUM FUNDING CORP. For your refinance loans. They steal your money, and leave you in a "well" to drown. You have been warned!
0 comments