I have a perfect track record of paying my mortgage and an 765 fico score.
I am in the midst of being ripped off right now by Chase Bank.
I paid a $395 application fee. Locked a 4.87% 30 year fix with 2 points. Turned in and signed all the paper work in a timley and responsible manner. About 30 days into the process, I was approved and was told we should close in no more than 2 or 3 more weeks. 60 days went by and still no closing date. Rate expired... Then they gave me a free 30 day extension (probably out of guilt and shame that they were dragging their feet) however the extension came with a condition...
My rate was bumped up to 5.125% and an extra. 125 of a point added on. Their justification was the LTV changed because of the appraisal. I know the appraisal came in low because the appraiser did not compare my condo to other corner units but to NON-corner units that were not even in the same mint condition as mine. An old bait and switch, classic con stuff and I knew it but I was still willing to accept the appraisal and do the deal so as to not help them waste any more time than they already wasted
Today as I write this, the 30 day free extension will expire in 3 days for a total of 90 days and still no closing. My mortgage officer tried to insinuate that I did not want to do the deal because I had previously expressed doubts about their performance or the numbers I crunched. She said I am not entitled to a refund. Now that I have been making it clear in emails and phone messages that I still want to do this deal... There is silence and no phone calls are being returned. I suspect they are waiting for the rate to expire because rates are even higher now than before then they will probably offer me 5.5% or who knows what and add insult to injury by asking me to fork over more money to lock in that rate. What a bunch of crooks! Im going to see the bank manager tommorrow and if I dont get my refund or refinance, I will be filing a complaint with the office of the comptroller and whatever banking regulatory bodies I can file with. I cant let them get away with this madness.
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