Ted Dance is a broker that worked on setting up a mortgage for me. It took about 3 weeks with 3 closings cancelled at the last minute along the way.
On the 4th try I finally went into attorney to sign final paperwork but the paperwork was wrong. The % was incorrect and the dollar amount back to me was $300 it should have been $3000. I walked out of the closing, as Ted was unreachable.
Ted called me at home to see why we did not sign. He said he is sorry it is not his fault and blamed it on the underwriter? Ted got them online and they fixed the % problem they had faxed the incorrect contract over. The money he cant fix. Daphne (secretary) misspoke she had no right to talk to me about how much money I was getting the $300 is correct. I told him that is not acceptable as when this all started I was suppose to have enough to pay off mortgage and have at least $3000 left over for a new roof. Ted talked his numbers again saying he had to buy down points etc.
I told him I wouldnt close with only $300 left over. He said I could reclose again in 12 months to lower my % and said at this point I am saving so much money that I really need to do this. I agreed but without the money for the roof I wasnt happy we went through 4 botched closing as Ted was out of town on vacation or out of the office. He agreed it was a mess the last few weeks said if I would close again in the next 12 months through him he would wave his fees. I said that still doesnt help the money problems now he agreed again and said the best he could do was give me $1000 out of his pocket he would reimburse me from his office.
This is 50% of his profit as they only make $2000 on a closing after everyone gets their piece. I told him to fax over in writing what we just talked about tom. Morning he said he would. I agreed to do the closing that afternoon.
Next morning no paperwork faxed. I still went and signed the closing as it had to be done. If I didnt sign I would have missed my 1st mortgage payment then been behind 60 days on my payment and totally blew my payment history if we had to start this all over again.
I spent the next month trying to get any response back from Ted but of coarse got nothing. He finally talked to me through his secretary and said to take him to small claims court. I am currently in the process of doing just that.
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