Alg Capital fraudulent loan docs Mission Hills California
The loan we received from ALG capital was completely different from the one we signed up for. The first problem was the truth in lending statement. It showed an interest rate at 8.95% instead of 7.25% like we'd been told. I spoke to Michael about it (unsure of last name) and also Jonathan Sultan and I was assured that this was a worst case scenario document and was not in any way the correct amount. The next problem was when we got our check from escrow and it did not include the additional money we were taking out. The escrow statement was completely opposite the one we were given. They doubled every single fee so that they took all of the money we were expecting. Next thing we found out is that they actually forged our signatures on the important docs! So, the copies we received are different than the ones that were submitted. They only forged our signatures on the most important docs with the changes in dollar amounts and percentage rates. The forgery's are not even good ones. So, instead of a payment of 2200.00 per month like we are expecting, it is now 4200.00. Because we are unable to pay this we are going to lose our house. We've been told that it will be tied up in court for a lawsuit for at least a year and by then our house will be long gone. HELP!!
Tara
la mesa, California
U.S.A.
2 Updates & Rebuttals
Tara
La Mesa,California,
U.S.A.
How can you help?
#3Author of original report
Wed, March 05, 2008
To the ALG employee who responded to my complaint, I tried contacting you back but any calls were repeatedly ignored. Cornerstone Lending, who is suing you as well, informed us that there were 4 other consumers besides ourselves who had the exact same thing happen to them. We have decided to give our house up since we can't afford the payment and our lawyer handling our lawsuit against your company expects the suit to take at least a year. I wish you would have contacted us back like you said but you never returned our calls.
Alg Capital
Mission Hills,California,
U.S.A.
A message from ALG Capital
#3UPDATE Employee
Tue, March 04, 2008
We are sorry to hear about your experience. We'd like the opportunity to discuss your concerns. Please contact the Client Relations team at hr@algcapital.com so that we may discuss your situation. Our goal is for every client to have an outstanding experience with ALG Capital which is why 94% of our clients say they would refer us to friends and family. We look forward to hearing from you.
Client Relations