I bought a ahouse in the south east side of town. I had a lender that was ready to move forward with me and a High school friend of my husband talked me into doing my loan through her company. Sherrie wilson of Supreme lending, I said okay cause this was my first time and I had no clue. She said that she would take care of me. We got everything together, my realtor found the perfect house for us entered into a contract on it.
In a matter of weeks Sherri foudn the lender for us told us that out interest would be 9.87% and we ere all for it, CAlled the landlord of the house we were renting, and told him, that we were more than likely moving out in a couple of weeks, finally got a clear to close according to the Sherri, called and had the lights transfered, and all the other utilities, the day before we were scheduled to close we got a call sayding that the lender ahd not gotten the appropriate closing docs and that we would not close today.
Then she called us back the next day and said, well I had to change your program and your intrest will be 11.49%. At that time I paniced and tole HER NO WAY, we could not afford that, we just could not do it. My husband was the only one working at the time, and I was a stay at home mom of twins. She proceededed to tell that there was good moeny to be made in this business and that she would hire me, as well as explain to me that she gets paid 3% origination fee that is the standard and if I go ahead and go through with the loan she will pay me 1% (it was a 140,900.00 loan amount) of my loan amount to help me with the first months mortgage. She said that she would do that just for me, Reluctantly I agreed but only if she was able to hire me and get an extra income coming in.
Mind you she was a good high school friend of my husband, I trusted her to help me and treat me good. We go the loan and closed on the house, and a month later when first months mortgage was due I asked her about the $1490.00 that she owed me, and she said that she paid that torwards my first year home owners insurance. (which was only 1246.00) I later found out after working with her and learning the business that she in fact did not pay that I was able to get 5.91% sellers contrabution and that is what paid that for me, out of the sellers money.
After 4 months of working there she promoted me to assistant manager and training cordinator for new hires. I started to think about the things that I had seen in the office and realized that there was funny business going on in the office so, a day that I was in the office alone I went in and looked at my file, there I noticed that I was a VICTIM of predatory lending. She charged 3% origination and tacked on a 2% YSP for a total of 5% payout to her. I in that time closed 2 loans with her, and there was a commision payout that she handed out to me at the time of hire, that stated that I was going to get a volume bonus and a unit bonus, and I had asked her about that and the 1490.00 again, as well as let her know that I knew what she had done with my loan she became enraged and fired me. I brought this to the attention of her coorperate office as well as the fruadulant activties that were going on in the office that I have witnessed, and so far nothing has been done.
I have since then sold my home through a SHORT SALE to avoid foreclosure. I have no doubt in my mind that I will never see the money but I just don;t want anyone else to suffer the fate that I have due to her SHADY business, and unethical acts for un-suspecting potential home owners
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