First of all I would like to file a complaint for predatory lending practices. Option One quoted us and our mortgage broker a lower interest rate and then when the closing package was received the week of the closing the baited and switched out the interest rate to a higher one without giving us notice. The mortgage broker was unaware of this as well. We were forced to sign or lose the home due to the Seller's had a backup offer and needed to close immediately. Then for the year Aug Aug we paid in full our Property Insurance and yet the Mortgage Company also took escrow's out of our payment in addition and secured a policy as well. I contacted them and proved we had coverage and higher than what they purchased and I wanted a refund back to us of the overage taken from Escrows... They credited back all but 800.00 to escrow on the canceled pokicy and refund from the outside company they purchased (redundant) and are fighting us on charging us the 800.00. They owe me a refund and interest on the extra escrow's they took for a whole year. All they did is cancel the policy they took and partially credited the overage they charged me. What about the 800.00 and the money I also paid should come back to me in addition to my principal payment. This is not an isolated problem Option One did the bait and switch on another couple who now lost their home to Option One. They have polished this fraudulent scheme and if you audit I am sure you will find that all the Buyers that they financed that couldn't or wouldn't have time to salvage their purchase... Were extorted at the closing table by Option One Mortgage. Now keep in mind I am a Realtor in Florida and I know what they did was so fraudulent and predatory.
Proposed Resolution: I would like my refund and correct my escrow's and have Option One tell me what my correct payment should be after the corrections. I faxed them 4-5 times proof of my insurance and proof I paid in full. I also would like them to rewrite my both the 1st & 2nd loan to the original quoted percentage and refund me the overage in interest payment toward the principal balance. I would like them to do that for everyone else they extorted at the last minute.
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