Sterling Home Mortgage Corporation - Lendingtree.com
Lendingtree.com - Sterling Home Mortgage Corporation mortagage scam, refinance ripoff, loan ripoff

I applied at Lendingtree.com for a refinance quote and I got a response from 5 places. One of them with the best rate was Sterling Home Mortgage Corporation. It all sounded all good to be true because they were there to assist me start the process. I looked carefully and notied that there was a $295 Non-Refundable Application Fee.

I asked their loan officer Jim Musial and he found every excuse on the book to justify the $295 Non-Refundable Application Fee. He said it was for the appraisal. I told him I had an appraisal and then he would not respond. This guy was very heavy on his e-mails "God Bless America" and "Sir God Bless America and your family" but he needed $295 charged on a credit card. Then he said he might be able to absorb $295 later and be part of the closing. I all sounded like a scam... Then I called in and asked to talk to a new loan officer.

I talked to Dale Pierceand at first he was nice and when I asked him in detail about the $295 Non-Refundable Application Fee he started to become uncomfortable. I asked what if they don't approve me? He explanation was that I will get a refund for around $180. Prior to that the other loan officer told me that it was for an appraisal. I asked Dale Pierce why wouldn't they give me all my money back? He responded that they had to run Credit Reports from all 3 reporing agencies and that was $50. I said ok! But $50 - $295 = $245 and I own my Credit Reports. He said OH NO!!! There are other fees. He did not want to say what the other fees where and he said he would not give me anything in writing and he would not lock me in before the $295 Non-Refundable fee is paid off.

Prior to that the other loan officer Jim Musial insisted that the $295 was Non-Refundable and he contradicted himself several times because later he said that if it was their fault the loan did not go through then the $295 was refundable. I asked him additional explanations and I asked him for something in writing which he refused. He kept playing he patriotic tune and his mind games "God Bless America but I need $295 on a Credt Card and then I will lock you in or you can go elsewhere and pay a lot more..." I asked both loan officers how many people see every month and how many of them thy close and I did not get an answer. When I asked them why do they offer a no obligation quotes when they require people to pay $295 even before they can qualify for a loan they said that they do it for protection.

I could not figure out what kind of "protection" it sounded to me more like "manipulation" that they make money from consumers either way and once you pay then $295 they play you they way they desire. I made one more call and I talked to an other loan officer and their response was different from the other two laon officers. Talking to 3 people I got 3 different answers the last one made my case even stronger because he said that "Yes they make money from consumers on the Non Refundable fees" He aslo said that the appraisal is the homeowners responsibility and this statement adds an other hole to the practices because their first loan officer I talk to told me that the $295 if for an appraisal. Finally I go a new call to let me be aware that and threaten me that if I reported them they will take legal action. Be aware of their service and don't fall victims of their scam.

Company: Sterling Home Mortgage Corporation - Lendingtree.com
Country: USA
State: Illinois
City: South Barrington
Address: 33 W. Higgins Road - Suite 2040
Phone: 8478369200

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