We were connected to Freedom Mortgage from LendingTree.com with their highest recommendation. Freedom Mort. Was responsive and promised us a low rate of 5.25%, as the date (60 day lockin) got closer, they began to ask for more a more paperwork, which we provided always within 24 hours. We were told that the loan was approved, and that we would close the next Tues (this on a Wed)
On Friday, we called to get exact time, they said we were not "fully approved" and again requested paperwork, which was provided. Dates came and went, they refused calls, weren't in, and finally they said we were not approved due to Loan to Value (which later when we financed through a honest company, found out with a new appraisal (2 months later) that the loan to value was less than 50%.
We demanded our money back, but they said they would have to keep the amount for the appraisal they had done, we requested a copy, it was an incomplete appraisal, and showed no appraised value. We complained to the BBB and to Lending Tree, we also stopped payment of any funds to Freedom (via credit card). Freedom reported to Lending Tree and BBB that they had returned all funds to us (we stopped the payment) and then the next day disputed our reversal of the charges. The credit card company did not (we sent docs, including copies of the so called appraisal) honor their dispute, so we are not out money, but lost the rate, and had to start over again with another company, We reported all this to Lending Tree who took the side of Freedom, so as far as we are concerned, both Freedom and Lending Tree are fraudulent.
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