On approx. 12/19/07 - a representative from "First Mutual Corp", an Indian man, knocked on my door. He introduced himself and asked if I was a customer of "CIT" (mortgage co.), he had my name on this "CIT" list. I said hestitantly, "yes" and "why?". He explained that I would be elig for a gov't refinancing loan through "FMC". He made a good "sales speech". I told him that I would think about it, that I would research the company. I got a couple of phone calls begging me for my business.
Since I am concerned about my ARM loan going up in interest, I felt this would be my only solution. I recieved a call from MR and he explained and made promises which included a guarantee that I would be accepted for this loan. He added that it was illegal for a homeowner to have an appraisal w/o getting approved for a mortgage loan. This was the same statement that JB gave me. That FMC was dealing directly with the government and he would guarantee me an FHA 6%, 30 yr fixed, with 0.00 points. Adding that FMC is not a broker and they do not scam people with fees. So I believed him.
I also made it clear to him that I had a bad experience w/another mortgage co., that I paid the appraisal, signed all paperwork, provided documentation and nothing happened. He knew this from the beginning. He said that it would not happen to me again, that I was approved and that everything would be fine. He asked for my credit card # to pay for the $375.00 appraisal up front. I told "MR" SPECIFICALLY that I did not want to pay the $375.00 unless I had a guaranteed approval, as I had an issue with the previous lender.
He assured me and said "we would not give you an appraisal unless you are approved". So I agreed and gave him my credit card information. The following day, the $375.00 payment was deducted from my bank account. On approx 12/26/07, JB came to my house with all of the documentation I needed to sign. He explained what documentation was needed and if I didn't have all of the documents, to just send in what I had. I agreed. The application and documents was Fedexed to them on 1/3/08.
The appraiser, "C" from "Dave Brown _", came to my house at her convenience. Even after I asked her to come on Fri, 1/4/08-she took it upon herself to do it on Thurs, 1/3/08 because as she told my husband as he was trying to fix the house a bit, "it was convenient for her". I paid for a service and it was not done at MY convenience.
I have called "FMC" for the last couple of days and have not recieved a return call back AT ALL. It is 1/18/08 today, and I have yet to recieve a call from ANYONE @FMC. I have called the office and no one picks up, the call is forwarded immediately to voice mail and I have left messages to no avail.
At this point, I want my $375.00 credited back to my bank account. I want a copy of my appraisal, as now I have to go to ANOTHER lender. I will not pay for another appraisal, as I am on a fixed income and am trying to keep my home w/my husband and 2 children. Time is running out for us and this company is complicating my situation. This is bad business practice. Again, I want my $375.00 for the appraisal and (2) months worth of mortgage payments that I needed to borrow from my 401K because I was misled by FMC, they prevented me from going to a reputable and efficient lender. Now I don't know if I can keep my house or not...
Janet
0 comments