American National Home Loan, La Jolla Lending And Real Estate
Mortgage Scam 1135 GARNET AVE #18 SAN DIEGO

Andy McDonald of American National Home Loans contacted me to refinance my ARM loan. I had an Option ARM loan and he claimed that they were working with my current lender to convert these loans to fixed rate loans. He claimed he was able to lock in a loan under 5% due to our income, house value, and credit scores. We had agreed the 4.65 or 4.85 would be the rate and that there was a program with a bonus rebate that would cover the points and fees and that I would pay for closing costs in the range of $2K-$3K.

A Notary (Michael) came to our house and explained that we needed to sign several sets of documents to get the process started and that these were preliminary documents and we needed to contact Andy the next day to set the exact loan amount and loan details. He or someone else would come back to the house to sign the final paperwork later. We did not get copies of any of the paperwork.

Another mortgage broker contacted me the next day from another company and when I had explained the process from the night before he told me that what happened was not correct and he wanted to review the documents. Late in the day I contacted Andy and he said that had not reviewed the documents and I requested copies of everything we signed to be sent to us. I never received any documentation from either mortgage company.
I tried to cancel the transaction over the course of the next several days; however, since it was the thanksgiving holiday all of the government offices were closed. Andy finally did contact me and said he would cancel the loan. I was surprised that a week and a half later I received notice from the escrow company that the loan had been processed and I was charged for the amount of $13K in fees and now have a interest rate of 5.375. This rate is higher than the rate I had before! I also now have an impound account which I did not want. These mortgage companies as well as West American Escrow and Wells Fargo Bank ripped me off!

Company: American National Home Loan, La Jolla Lending And Real Estate
Country: USA
State: California
City: San Diego
Address: 4088 Mahaila Ave, #C
Phone: 8187605499

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