This company is simply ruthless. I am in the mortgage business and my employees used to work for ALG. I've heard sickening stories about the forging, the lying, and etc. I feel for those who were victimized.
Jerks like them create a bad image for all brokers. Honestly, I don;t know how they've been getting away with it.
True, there are times when lenders change guidelines at the last minute and this is out of the broker's hands (ex: rate expiration, bank's guideline change, value being cut).
Items such as prepaid tax, title, escrow and insurance Must be included in every loan (something that a few borrowers don't understand) Nonetheless, the stories I;ve heard are simply ridiculous. From my understanding, the owners-Sean and Mike McConville even ripped off their employees. I feel bad for those who were victimized.
Aside from going against ALG, you may want to contact your lender to see they are willing to renegotiate the terms of your loan-Believe it or not, this may save your house from going into foreclosure. They may even offer you a lower payment If you have great credit and a great rt, there;s no point of a refi unless you're desperate for cash.
Good luck on your endeavors against ALG.
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