Complaint / Review
Van Dyk Mortgage Corporation
ADA Mortgage Company Denied refinance loan begun 12/03/08 told approved denied on 03/12/09

I began bill consolidation / refinance loan on 12/03/08 in order to lower my mortgage payments, do some repairs and pay off credit cards. I did this because I lost my spouse to cancer and had a large number of outstanding medical bills. I had to retire on disability myself and also had a large number of medical bills. When I began the loan process I had not been behind on my
mortgage payments or other bills. My credit score at that time was in the 600's. I was told by VanDyk Mortgage that I qualified for the loan.

I was mailed a letter telling me not to make any more payments on the accounts for payoff that I had given them since they were to be paid off. I completed all forms they requested and e-mailed them all the information and items they requested in a timely manner, usually on the same day requested. I had to pay for an expensive appraisal from State Street, $450.00. My home was appraised for $150,000.00 and the balance on my current mortgage loan was approximately $58,000.00 which Vandyk Mortage told me was more than sufficient for collateral for the refinance. They kept saying they only needed a few more items filed income taxes, which I had to do immediately, death certificate, probated will, etc. Which I furnished them.

In the meatime my mortgage payments were becoming past due as well as my credit cards because I was not paying on them since they were being paid off by Vandyk Mortgage. Now 03/12/09 they call & tell me my loan is being denied because they had to do a new credit report which showed my loan and credit cards deliquent and my credit score had dropped to 490.

Now what do I do? I am behind and unable financially unable to catch up my deliquent payments. They really mislead me by telling me the loan would soon be close, that it was with the underwriting department. The loan officer I was dealing with said he didn't understand why I was denied either but there was nothing he could do.
Please be warned that dealing with VanDyk mortgage could possibly lead to bankruptcy, loss of your home, a bad credit rating and financial ruin just as I am today.

Be very careful with whom you deal with and good luck if you're in the same situation I'm in today. Only God can help me thru this financial crisis now. I not only lost my spouse but now I will probably lose my home that I've paid on for twenty five yeays now.