In March of I began refinancing my home to pay off credit cards before the minimum monthly payment rate increased. I chose 1st Option Mortgage as they advertised they could complete most loan requests in ten (10) days or less. Little or poor credit ok. The Loan officer that worked with me assured me she could refinance me. I told her I was planning a trip to California to Disneyland in April for my kids. She not only told me that she could have it completed before that time, if it did take a little longer, she promised to have my paper work delivered to the motel by courier so I could sign and I would have cash in my hand for Disneyland. I spent the whole week in California calling and calling. She never returned one of my calls. When I got home, after borrowing for the trip, I finally managed to get ahold of her. She apologized for the delay. I emphasized, not for the first time, that time was critical as I could not afford to pay for an appraisal and cover my mortgage payment. I only get Social Security Survivors Benefits once a month and it only goes so far.By the time she got everything together, I had a delinquincy on my Mortgage and the best interest rate she could get me was 9%. I had a 5.9% rate previously. Then she made it seem as though I wasn't moving fast enough to get into town to sign (town is 60 miles one way) the papers to close the loan. It was only going to get worse if I allowed the delinquency to go for more than 30 days. So I signed them.
Now, the nightmare has gone on for three years, I've filed chapter thirteen because I couldn't pay for anything if I paid my mortgage payment, but then I had a bankruptcy payment that I couldn't afford either so I have managed to default on my chapter thirteen and will probably face foreclosure if I can't get the Mortgage company to modify my loan at a lower interest rate. I didn't even have a delinquency before that horrible refinance. Then when I found out that the taxes and insurance wasn't included. I got homeowners insurance for my home, then found out there were two policies in effect at the same time. When I canceled my policy, they canceled theirs and I had none. Now the mortgage company has appointed me insurance that is over 1000.00$ a year so my balance plus arrears has increased 10,000.00 dollars. What a ripoff. I still have the emails apologizing for the delays, lot of good they do me when my kids and I are homeless. Natalie Jean, Nevada
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