I was in search of redusing my mortage interest rate by going for a refinace. During the process Ms Chanel Wheeler from Envoy Mortgage contacted me and offered a rate @ 4.50%. She said that she is not mortgage borker but mortgage banker who originates loans. Sot they will be able to get the refinance at alowest rate and faster than any other companies. (infact I had contacted with a number of othere providers. Considering all offeres we decided to go with Envoy Mortgage, since they quoted the lowest number and confirmed the mortgage will get thru). She confirmed me that they have locked the rate. They asked us to send all my and my wife's financial status papers and we did send them. They even insisted to send them thru email. And they also send back all the papers by emil only. I have provided them all financial documents and our legal status papers such as, copy of Green Card, ssn, driver license, etc.
I was in contact with them almost evey week and each time they confirmed that the refinance is on the way and it will be completed before june. They have confirmed me that I will not be required to make any payments and all the required fees will be rolled over to the loan amount.
Now I got a reply form them saying that they will not be able to get the refinace at the confirmed rate but it will be 5.50% and again I will have to pay them more than $5000 towards closing costs that they cannot add to the loan amount.
I think it was a scam because;
1. They took our confidence by quoting an under market rate of interest for the refinance. 2) They lied us about the company's status (she told me that they are mortgage bankers who lend loans). 3) They were continuousing informing me that they locked the rate at 4.50% and it will not change. But now says they cannot keep up their words. 4) They have collected all our financial and legal status papers. 5) by keeping me hooked up with their promise I lost more than 2 months of good time in which I could get a better rate for my refinance.
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