Joe Rosso works as a Mortgage Broker for Southgroup Mortgage. Mr. Rosso appeared to be inexperience and incompetent. He costed my husband and myself money for appraisals we didn't need, because he couldn't secure a loan. He could secure a loan, but he wanted to secure a high interest no - money down to get a higher comp. For himself.
He refused to listen to our needs in what we wanted and qualified for. He was caught in several lies and he was very sneaky and dishonest. I called his supervisor (Ryan) a last was never given although we continued to ask for it. The supervisor acted as if he was going to "get to the bottom" of Joe's deceit and give us a call back. We've never gotten that call.
We later found out that although our credit score was B average (631) they are known for dealing with terrible bad shaped credit. Their practice is to have their investors buy the property you want and then lease it to you. Even if you have okay credit, they still give you the same options and "programs" they give to the bad credit homebuyers. They have not lived up to anything they've stated from their web-site. They have violated their own pratices.
Luckily I've purchased a home and I'm currently enrolled @ JY Monk Real-Estate School, and I knew alitte about the house buying procedures.
I was blind sited by Mr. Rosso almost up to the closing date. He had quoted us an 7.8 which isn't a very good deal, but it was no money down fixed 30 year.
And all the trouble we had already gone through we were going to settle for that and refinance a year later. At the last minute Mr. Rosso had did the famous "bait and switch" the internet warns you about with mortgage brokers.
He tried to get us to accept a "surposely conventional" loan with 8.5 interest for 68,000 and a sub - @ 10.5 for 17,000 for a 85,000 home. Well as you can figure we said no way...
And now we are in the process of getting our earnest money back. I want others to be warned about their pratices and not be fooled by Southgroup Realty, Mortgage.
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