Mortgage Bankers Associates, Inc
Bank on fraud!
- 12-09-2001
- 11
The simple flyer with two lines and a picture of the bright red, zero down, ad looks good to homeowners trying to sell homes without a broker.
Gregory perkins is an attractive, perky agent who oozes confidence when he hands you a' zero cost, zero down, ' pledge in one hand and bright red, front lawn sign with the other to replace, ' sale by owner" on the phoney promise his company makes so much profit placing loans they can find lenders free for sellers and buyers.
What he doesn't tell you is he has lined up an escrow that will pad closing costs charged to your equity and since the law requires sellers to hand the buyer a key at closing, you will be sued if you back ou tof escrow!
Most sellers do not realize any escrow will actually accept the word of a mortgage company on costs without contacting the seller or having a signed contract to authorize such deductions or change in sales price!
Perkins promised me $20,000 he shrunk to $15,600 through a fraudulent escrow. I refused to sign until the escrow clerk called the mortgage bankers who calmed me down with promises of a rebate they had no intention to honor... I never received a dime refund on the this rip off bad business bust!
Vance Willow
12-09 8:09 PM
Company: Mortgage Bankers Associates, Inc
Country: USA
State: Nationwide