First of all I want to thank everyone for your information on this website. I was lucky enough to have put a stop payment on their check before they could process it.
My nightmare started in September. On the 24th of September I was contacted by Money Tree, telling me that the home loan I had applied for had been approved. I was preapproved for $60,000. All I had to do was send them $300 to show my "good faith" and I would get that back at closing in 4 to 6 weeks.
So with my credit past problems, I was just so happy that I was now going to be able to own my home that I've been renting for the past 2 years. So I rushed to fill out the loan documents, made all the requested copies, and sent it to them via priorty mail. Then I find this website!!!
I immediately contacted money tree regarding this issue, informed them to stop the process on the loan. This was the middle of October. Well, they have continued the process, and now want me to submit to them another application, and again make all these copies and send them once again via overnight mail, which as most of you know is not cheap!!!
On October 28th, I again emailed them and told them that unless they could infact send me written proof of my "pre-approved status" I wanted nothing more to do with them... Today is November 3rd. Ms. Depperschmidt contacted me to tell me that I was "pre-qualifed" and that I would have to submit all my info again, even though they acknowledge they already have this info. So I again told them to never contact me, and to stop the process again... I guess we will see if they listen this time.
I think this company needs a class action lawsuit against them. I was lucky enough not to lose my $300 YET!!! Even though a stop payment was put on the check, the bank told me that if they sent it through without the check number on it, it could be passed!!! But just the heartache and pain of the let down is enough they should have to pay for!!! Not to mention all the people who have been left with no where to live, etc.
Stay away for Money Tree Mortage, the scam they have going looks like it is really starting to show more and more people are getting taken in by this!!!
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