Travelers Bank & Trust Morgage stole the equity in our home. It was a very vulnerable time for my wife and I and they took full advantage.initially, we were approached by an individual named "Zinda" regarding purchasing life insurance.
She came to our house to take the initial life insurance policy application and as she began looking around our house, inquired about refinancing. We were interested because I was out of work for a while from an injury and the bills were pouring in faster that I was recieving short-term disability.
Therefore, we were appreciative of her looking out for our best interest in suggesting this (refinance) as a way to pay off some debt and not worry about how bills are going to be paid as I recover from my injury and unable to work. She had shear dollar signs in her eyes and the eagerness of a "Rip off" goddess. Our interest rate prior to refinancing with Travelers was 7.5% and we owed $69K. The appraisal came in at $112K. Travelers paid off the mortgage for $69K and put us in a mortgage for $94K at 10% interest and paid off approx. $12k in debt. They also lied to us. We liste a creditor for them to pay off and they did not do it.
We also went from paying $600.00 per month mortgage to $900.00 per month with the promise that it would be paid off in 18 monthes. That was a lie! You do the math. Where is our money.
After the fact when we discovered how "shady" and "rip offish" this loan was we refinanced with another mortgage company and at the closing table were told of the $4,000.00 penalty that we had to pay Travelers.
It took everything for me not to "choke" that closing attorney. But then I realized that was the wrong person. How I wish a representative from Travelers Bank and TRust was present. And what happened to "Zenda"? I will go broke to find her and sue her right along with Travelers Bank and Trust. Please grant me more media exposure to the predatory lending matter. Thanks for your time.
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