Both of these companies advertised today's low mortgage rate can be taken advantage of by consumers with less than perfect credit. What they don't tell you is that sure, they will approve you, but not at the interest rate they led you to believe you would get.in my case, they were going to refinance my 7.5% mortgage at 11.5%. What a deal huh!!!
Also, when you are struggling to crawl out from under a bad situation, each inquiry into your credit further reduces your credit score. Of course they don't tell you the interest rate until after they run the report. I told each company up front and honestly my situation, they assured me that they could refinance me at a lower rate. Nothing but a scam to reel unsuspecting people in who are only trying to improve their financial situation. These companies only make it worse. Stay away from them!!!
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