Instafi
Bait and Switch on mortgage rate THEN refused to return $3800 escrow and interest payment for 8 weeks

Called for a low guarenteed rate on a refinance loan for my home in California to Instafi in Irvine CA. We filled out all the paperwork and it was notorized, we sent them 3800$ of escrow and interest payment up front, and then we waited. And we waited. We called them about twice a week for a month. They never returned the calls.

Then suddenly, they call us, and say "Gee, we are sorry, the rates have gone up and we didn't finish your refinance within 30 days, so we have to renegotiate your loan". They did this when I wasn't home and my wife was. She felt extremely pressured to "act now before the rates go up again". They almost had her say OK to a refinance at a much higher rate, with much higher fees and a added point! Talk about a bait and switch operation! What a bunch of con artists!

I called them up and said since they went back on their original deal with us to please send us back the 3800$. Eight weeks later and about 50 phone calls later they finally did. During this period one employee that I spoke to told me that instafi had done this same thing to "thousands and thousands of people". It's shameful that they can get away with this. It caused me a lot of grief and upset my family a lot. These people are victimizing people and should be stopped.

Jim
Vallejo, California
U.S.A.

Company: Instafi
Country: USA
State: California
City: Irvine
Address: 2600 Michelson Drive, Suite 300, Irvine, CA 92612
Phone: 8004678234

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