My husband and I applied for a refinance after receiving a phone call from Full Spectrum Lending offering us a refi with a lower interest rate, and no closing cost and no prepayment penalty.
As we worked with the guy he insisted that we would have to raise the loan amount to lower our interest rate, and once we agreed he rushed our transaction and avoided our calls several times when we were trying to check up to see if we could go over the paperwork before we signed.
When we would talk to him he would reassure us that everything was as stated. It wasn't until after we signed the paper work we realized that our loan person not only arranged a prepayment penalty but also increased our loan payment more than was originally agreed!
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