ALL FUND MORTGAGE, Dustin Plutzer, Jay Wlliams, Ian Kittys ripoff, ruined credit rating out of spite, lied to, broke federal laws, decieved, coerced, tricked, Ripoff La Jolla California
In April or May 2005, we had a phone call from "All Fund Mortgage" to refinance with cash -out. well it so happens that we were looking to do that.
We had sent every personal thing concerning our home and bank account that they asked for.
Next came the papers for us to sign, and the appraisal of the house. Everything went smoothly.
Even though we had to use the last of our savings for the appraisal, I was told that it would be worth it, and that we would be reimbursed by the company for any monies we paid out of our own pocket.
Also we were to recieve a copy of the appraisal { a federal law }
Well we were to close 10 days after the apprisal. As it got closer to the "Close" date I tried for 1 week to contact them. None of my faxes, e-mails nor phone call were returned.
The "close" day came and went.
Then we found out, that out of spite necause I had bothered them so much, they ran our credit so many times that it lowered it 172 points, so it was impossible to qualify with another company for the loan we so need.
I am disabled and will be for the rest of my life, so I cannot work and my husband has to work two jobs just to make ends meet.
We have financial obligations that suffered when I had to stop working, so we thought this loan was the "answer", insead we were used, cheated, lied to, decieved, and "hung out to dry".
We never want this to happen to anyone else, these people will gain your trust and damage your life.
Marlene
Chino Valley ,AZ, Arizona
U.S.A.
5 Updates & Rebuttals
Devin
Redmond,Washington,
U.S.A.
Damage to Credit Scores
#6Consumer Comment
Thu, July 28, 2005
I have recently began my career in the mortgage industry with some help from my father. He has held various positions in the mortgage industry for the last 30+ years.
I have asked him about credit scores dropping because it has come up with some borrowers. In his time as an underwriter he has seen credit scores drop in excess of 100 points between broker submission and underwriting. The only difference was that the credit report he pulled had one more inquiry, HIS.
The fact of the matter is that the credit scoring system used by all three major credit bureaus is "proprietary", meaning they won't tell anyone how a credit score is generated. People can get a pretty good idea through trial and error but nobody has access to the actual formula used to create credit scores.
In most instances if balances on debts have decreased with no lates payments the lender should honor the original credit report. IF the only thing that could potentially harm your credit was their inquiry they should recognize that and respond appropriately. It doesn't sound like that has happened in your instance, which is why it is always good to pull consumer reports on companies you plan to do business with.
A home mortgage is typically your largest financial tool. It can really help you or really hurt you so check into companies before agreeing to anything with your mortgage.
Steve
Corona,California,
U.S.A.
Check your scores
#6Consumer Suggestion
Fri, June 24, 2005
Google search "myfico". This will take you to a great place OF THE SAME NAME that has a huge amount of information about credit repair and how credit is scored.
From this same location, you can order all 3 reports for each of the major agencies. Transunion, Equifax, Experian. It costs about $36.95 per person. These reports will be 95% the same as what we see when mortgage companies pull credit. Your information will be available to download and print in about 1 minute.Your FICO scores will be given to you right then.
The reports will tell you exactly which accounts are open, what the credit limit is on each, what the balance is on each, the number of lates x 30 days, x 60 days, x 90 days, etc.
It will show judgments, charge offs, collections, liens, just about everything.
Most importantly, it will give you an analysis as to why your scores are low, what you can do to fix them, and the website even has a "scenario" in which you can do different things to see how your scores are affected negatively or positively.
No, I do not work for these guys, but anytime I am working with a homeowner who has some problems or really wants to know how to improve their FICO scores I send them there.
But, as the other poster said, I guarantee that they didn't ruin your credit by running your report several times. It all counts as one inquiry , even if it is run by different companies, all looking for a report in connection with your mortgage.
Marlene
Chino Valley ,AZ,Arizona,
U.S.A.
why my credit is 173 points less and they are the only ones to have handled my credit.
#6Author of original report
Wed, June 22, 2005
To Steve and Tom,
If my creditit rating was not ruined by them and if there is more to the story then please tell me :
1 why my credit is 173 points less and they are the only ones to have handled my credit. [if anything I have paid items off duing that time period,so I should have better credit not worse.]
2 why can I not get a copy of my appraisal?
3 why will they not answer my comunications?
4 I wish it was as simple as going to another loan company-but now I cannot for my credit is too low
As people in the business -do you have any constructive suggestions for me????
Tom
Gahanna,Ohio,
U.S.A.
gimmie a break, your score cant drop 172 points in one week. All 3 major credit bureaus computers work this way, so save the bs.
#6Consumer Comment
Wed, June 22, 2005
Are people bored? Do they have nothing better to do?
I am a mortgage broker. I can tell u for a fact that you can have your credit pulled 100 times a day for 2 weeks -and it will only count as one inquiry -therefore 3-5 points off your score. They do this for obvious reasons....
,,,so that your score cant drop 172 points in one week. All 3 major credit bureaus computers work this way, so save the bs.
Whatever really happened here -they couldnt verify your employment -your title work came back with liens -your appraisal was 'overblown' and the lender wouldnt buy it- or perhaps a host of other maladies - the fact remains that your original post is a crock of crap . Please do not cheapen this site with bogus reports .
Go get another lender -stop your bitchin.
Steve
Corona,California,
U.S.A.
They may have decieved you, but...
#6Consumer Suggestion
Wed, June 22, 2005
They may have decieved you on some of the issues about your refinancing options. However, you did not lose 172 points by them running your credit. You definitely had some other issues going on to have that happen.
There is more to this story.