FOUNDATION FINANCIAL GROUP, LLC Jacksonville, FL / Atlanta, GA / Tampa, FL
Foundation Financial Group LIED TO ME BIGTIME about my new loan! I lost appraisal money to these SCAMMERS! Stay away and beware!

I am completely devistated by what Foundation Financial Group did to me when I applied for my refinance. The broker told me he was a lender that that I was GUARANTEED not to be charged any closing costs or POINTS! He told me that I would get a rate of 6% on my new fixed loan. Once he found out that I was already working with another lender he then came back and said that my new rate was 5.25% with no fees. It wasn't until I cancelled my other loan was he then satisfied to finish my file with him. I asked him why I couldn't keep my options open and keep the other loan moving along but he told me that it was illegal to have two applications going at one time. I later found out from the department of financial regulation in Tallahassee that he flat out LIED to me and that it wasn't illegal. Then he told me that I had to fax him all of my documentation to them in Jacksonville, FL and that his "underwriter" would call me. I found out later that they aren't underwriters or even a directl lender. The state's office told me that they are Correspondent Lender meaning they close the loan but have me service by a real lender. State of Florida said they are just commission mortgage brokers!!! Again another LIE!!! Anyway, then I had to pay for an appraisal fee which was $375.00 UP FRONT to the appraiser BEFORE I GOT ANYTHING IN WRITING!!! When I asked for my disclosures first, he chuckled and said that they were on the way but to HURRY UP and get the appraisal done. I trusted him and called the appraiser back to schedule. After I paid the money upfront for the report, he told me it would close in a week. It wasn't until 44 days later did I see the closing documents and OH MY GOD... My loan was NOT fixed rate, it was an ARM adjustable. Also, the rate was NOT 5.25% or even 6% but 9.55% with a ridiculous prepayment penalty that would have cost me thousands of dollars. Here is the best part... As I stated before, he said there were NO FEES OR POINTS, well he was charging me 4% POINTS which equalled $9,020.00 in his BROKER COMMISSION! Not including the other $3900 of regular closing costs.

When I refused to close the loan, he called me up and asked me what my problem was, I told him he was a big liar and that company was just a RIP OFF SCAM PLACE! He then called me a BXXXX and hung up.

I have already filed a complaint with the Department of Financial Regulation with the state of Florida so I can get my appraisal money back.

Stay away from these people and if you have an application with them... Cancel before it's too late.

Company: FOUNDATION FINANCIAL GROUP, LLC Jacksonville, FL / Atlanta, GA / Tampa, FL
Country: USA
State: Florida
City: Jacksonville
Address: 225 Water St. Suite 2000
Phone: 8666593200

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