My case seems a replay of all the reports I have read in this site.
I warned my "loan specialist" about the remodeling going on in my house and him and a "appraisal specialist" assured me it wouldn't affect the appraisal. Well, at the end it did.
They sent out a just licensed appraiser (she told us so: "I've just got my license yesterday"), that didn't know how and where to start...
The explanation of the "GOOD FAITH" deposit came in one of their "Standard Procedure" forms: Lender would keep costs incurred on your behalf and deposit will not be refunded if you don't fully cooperate", after the credit card was charged, of course!
So, if you don't want to sign the deposit agreement, because you were told you would have your money back at the beginning of the deal, if your loan was not approved, you are "not fully cooperating" and will loose your money anyway!
I am still trying to get the rest of my money back. They kept US$380.00 for the "appraisal" (that I haven't received and don't want).
The reason to deny my loan: Low appraisal. Surprised??
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