BFG is one of those "one more thing" lender that will cause you so much heartache and money and you will end up with nothing because you simply get tired of providing the information to them over and over again. He uses excuses like pneumonia, out of state, in a meeting, hospitalized and passes your loan to another scammer. He even wants you to fill out the 1003/1008 from Fannie Mae. Which should be filled out by him. He dragged out over months. He even engages the appraiser if you pushed him enough such as in my case. Then he send them a FAKE check. Google Mr. Terrence Love an appraiser in Atlanta, GA and ask him. That's exactly what happens to me. Then he blames it on his assistant. He DOESN'T have an assistant, I've never talked to her. Then I requested out, so he sent me a mortgage denial letter stating reasons and charge for non-existent fees from the $7500 I wired to his account. The letter even promised a refund on some but that's two months now; nothing ever came from him.
Real lenders will hold your fee in an escrow with a real lawyer that you can verify with their association. The lawyer should only release money once appraisal is satisfactorily completed. I've only lost $7500 but still a very costly lesson.
0 comments