I received an offer to qualify for a 6% 30yr mortgage. Received a pre-approval and upon putting a contract on a property, gave Trace $3500 upfront cost of loan. This began in November. He property fell through due to my inspection. The $3500 moves onto the next property.
Continued putting offers on properties, losing out to higher bids or better terms, Trace requires 60 days to close. After losing two more bids, with the second being directly related to the length of closing. Trace wouldn't budge on that 60 day rule.
The next property the seller said loan officer, Bob O Connor was not returning my calls, and he would not sign a contract unless I put up non refundable $10,000 earnest money, because he believed my lender to be a fraud. I contacted Bob with my concern and asked for something to legitimize themselves or my money back. Got nothing, except he didn't think so.
My initial research had not shown up any complaints in the BBB or usacomplaints.com. I found [email protected] They supposedly research companies and let you know, they e-mailed me back Trace Financial was fraudulent. I then filed a complaint with the BBB March 10. They never got a response from Trace Financial.
And now I look on this site and have seen others have been involved too. Would love to go after them. I do know they paid Coester appraisal for which I will research more. I wold think there would be a way to find these people
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