Hacienda Escrow Corporation is a very dangerous place to
get your home refinanced.
After jumping through all the hoops and signing the contract in an interrogation atmosphere,
they call a few days later to say there was a lien on our property.
A "Title Search" is the fist thing a broker does to make sure there is a clear shot at the deal.
Apparently they say they didn't notice it? Apparently I think there is more to it and why it
behoves them to miss it at the start but find it at closing. What would you think?
So the escrow officer Mariza Lulo calls me to say she will fax me a document that needs to be
signed so that the title company (Orange Coast Title) will just hold the funds until such time
that the lien holder (Eskanos and Adler Collections) is satisfied
It is called an "Indemnity Agreement". I figure they are on my side looking out for my interest so
I don't bother reading it and I sign it no problem. Hoping to be a good boy and make Ms. Lulo happy,
I take the signed papers and drop it in their office mailbox in Covina the next night.
I day later she calls to tell me the deal has been recorded. I thought well OK that must be a good thing.
Something told me to look at a copy of the "Indemnity Agreement". Alarms started going off in my head.
"Recorded" means it is now public record. That means the collection agency can now see we are refinancing.
That means they don't have to bargain with me. They can now say I own them double of the original debt
which is what they are doing.in essence Hacienda Escrow cut my legs off at the knees.
As I read I realized I had been hoodwinked. The agreement was to lock us into and bind us to the contract
so that we could not back out no matter what even though they knew the lien they found at the last minute
would wipe us out. Hacienda Escrow's fees plus the the lien would leave us with $0 after the pay out.
Wouldn't that be a violation of the fair lending laws to know a client would be destroyed by a deal?
They could have given me 2 weeks to make a deal with the collection agency so we would at least end up
with something to get our cars fixed. Forget about the home repairs now. You must be joking.
Who would in their right mind would sign a 30 years contract accruing all the interest including all the fees
and points they take which also accrue interest plus the bonuses they get up front, just for fun?
Better yet let me ask this. What kind of person or business would have you sign such a deal?
I'm afraid to hear the answer.
Yes I was dumb for signing before letting someone look it over to make sure all was kosher.
Yes I am naive to think people are inherently good and would not deliberately screw you.
That does not excuse Hacenda Escrow, Orange Coast Title, and Eskanos & Adler Collections from
taking advantage of my ignorance and doing what they did thus endangering my family and shattering
our hopes.
I now belive with all my heart that all companies listed above are working in collusion to get what they want
at all costs. The only thing that matters in their world is money no matter what they have to do to get it.
It is not so much for myself and my children but for my mother who is 50/50 on title with me that I am worried.
She was looking forward to getting some needed repairs done around the house and to her car.
Since she is 77 that means she'll never see any of her dreams to fruition. That is down right wrong.
This fiasco will be mother's death sentence. Her health is already failing due to the stress from this debacle.
I firmly belive Hacenda Escrow made a deal with Eskanos & Adler Collections behind my back to
profit from my situation. I think that might be illegal.
Shame on them and shame on anyone who conducts business like this.
As it stands at this writing title is holding the money ready to pay everyone except us.
That means we got into another 30 years of struggle for the benefit of these people?
My guess is this situation is not an isolated case and is occurring with great frequency.
I need some advice on how to get out of the contract that was not right from the start. If there is a class action law suit against any of these companies I would like to join.
Any advice on this matter is much appreciated.
If anyone knows of a lawyer or entity that would like to take on this case please contact me by using the rebuttal box below.
Companies involved:
Hacienda Escrow Corporation (husband of Orange Coast owner)
Orange Coast Title Company of Los Angeles (wife of Hacienda Escrow owner)
Countrywide Financial Corporation (top of the pyramid, where the monthly payments are to made to)
Thank you for any help you can offer. J
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