Home Capital ripoff lied to me about my loan Atlanta Georgia
Hello all,
I tried these past few months desperately to get a home equity loan, to get some much needed repairs done(roof,siding) being the main things. I was totally upfront with this particular company, going to great lengths to tell them what kind of shape my home was in.
Now mind you my home is not ugly it is quite beautiful on the inside, it is just an old Victorian that needs some repair. The roof is at least 10 years old and the shingles are crumbling, falling off, etc.I even sent them photos of it(Home Capital).
Home Capital, Inc, assured me that none of that was an issue, that I just needed my appraisal after repairs to be at least 60,000 in able to secure my loan.
My appraisal came in at 75,000 after repairs. I informed my roofing co I had picked, they agreed to do the work without any upfront money. Home Capital had told me that wouldbe what I had to do, and then to get an appraisal done again after work was completed. Then I would get my check.
Well, after my 450.00 application fee had already been deducted from my bank account, I called to check on my loan status. I found out my loan officer had quit suddenly, and that I had been reassigned to some other guys. Thats when things started to go downhill.
I called..and called...and called...My cell phone overage charges are nealy 100.00 because of this. Never any reply, always a voicemail, never a return call.
I called this new guy's manager, Gerald Chandlin, and did manage to talk to him. He assured me hed find out what was going on and let me know about it. My loan processor, Mercy(unknown last name)was hardly ever available and when I did talk to her about my problems, was very snotty and defensive.
I left threatening messages that I would report them to whoever I could. I called evryday for hours on end and got not one answer, yes or no, on my loan, for weeks.
Best of all, the appraiser who surveyed my property , who is not directly working for the company, but works under Landsafe, complained that they never paid him his money. So Home Capital ripped off two consumers, in my book.
Finally I got through one day, and was told my loan was denied. Just too much work needs done on my house, they said. Then the denial letter came. I am sure this is how Home Capital thrives, as it is not on getting loans for customers, but ripping off potential ones.
I cried. I got angry. I was fed full of lies by these people. I will do my upmost to blast these people's bad reputation all over the internet. I will never live this down. It isnt so much the money at this point, Its the hope that I was given so falsely to be able to save my house ripped out from under my feet. These people are awful and do not deserve to call themselves a business. Thank you for reading this and beware.
Lisa
Pocahontas, Arkansas
U.S.A.
3 Updates & Rebuttals
C
Middleburg,Florida,
U.S.A.
I HAD A PROBLEM WITH HOME CAP TOO!!!
#4Consumer Suggestion
Fri, September 29, 2006
Lisa, try and contact NIGEL DRUMMOND (Nigel.Drummond@homecapitalinc.com) he is like an Executive VP.
My problem was similar but grew much deeper. I have a 1st & 2nd on my current home not exceeding the value (I did an 80/20 to avoid PMI).
I was talked into refinancing BOTH mortgages to 'save money' rather than just extend the 2nd mortgage... that turned out to be bogus!
Anyway, the BIG lies came when I finally got word that it was time to close. I got a call from the mortgage officer saying we were going to close. She told me I was paying off the 1st & 2nd mortgages, a credit card and I would get $32K in cash which I intended to use to pay off my wife's car ($27K) and then some home improvements.
The 'closer' called (a lady from a title agency) and told my wife to have a check ready for $9000... I called my processor and told her we weren't closing as that was stupid to pay that much money out and be left with not enough to pay off the things I wanted to... etc... etc... She assured me it was an error on the part of the closer and she'd take care of it.
At the closing IN MY HOME, I saw this $9000+ on the 2nd mortgage closing docs.. I called the Home Capital lady and again was assured it was just a paperwork thing required by the title company, "I promise you you are getting $32000 cash!"
At 7:30pm the DAY AFTER my 3 day Right Of Rescision, the loan lady calls me with grim news... There was an error on the original application that they made in the DBA name of the company... the best thing to do to expedidte receipt of our $4 is to just FedEx me the docs and I initial next to the handwritten corrections they make. No problem... but my wife and I are smarter than that!!! We made copies of the FedEx Airbills, all the docs, etc...
Next, after I return the corrected docs, I get a call from the loan lady and she informs me that the $9000 IS owed by me and it reduced my cash out to $23K. BULLCRAP!!!! She claims it's too late now everything has already been sent to the county, etc...
Long story short, Nigel Drummond and I became very familiar with each other and not only did I get that loan cancelled, my original loans were put back in place with my other bank and the only fees I was out was the appraisal which I have a copy of now.
Don't give up your fight. They tried to put me in a position where I had to accept their lies and mistakes and suffer for them. I called their BS. YOU CAN TOO. FIGHT!!!!
C
Middleburg,Florida,
U.S.A.
I HAD A PROBLEM WITH HOME CAP TOO!!!
#4Consumer Suggestion
Fri, September 29, 2006
Lisa, try and contact NIGEL DRUMMOND (Nigel.Drummond@homecapitalinc.com) he is like an Executive VP.
My problem was similar but grew much deeper. I have a 1st & 2nd on my current home not exceeding the value (I did an 80/20 to avoid PMI).
I was talked into refinancing BOTH mortgages to 'save money' rather than just extend the 2nd mortgage... that turned out to be bogus!
Anyway, the BIG lies came when I finally got word that it was time to close. I got a call from the mortgage officer saying we were going to close. She told me I was paying off the 1st & 2nd mortgages, a credit card and I would get $32K in cash which I intended to use to pay off my wife's car ($27K) and then some home improvements.
The 'closer' called (a lady from a title agency) and told my wife to have a check ready for $9000... I called my processor and told her we weren't closing as that was stupid to pay that much money out and be left with not enough to pay off the things I wanted to... etc... etc... She assured me it was an error on the part of the closer and she'd take care of it.
At the closing IN MY HOME, I saw this $9000+ on the 2nd mortgage closing docs.. I called the Home Capital lady and again was assured it was just a paperwork thing required by the title company, "I promise you you are getting $32000 cash!"
At 7:30pm the DAY AFTER my 3 day Right Of Rescision, the loan lady calls me with grim news... There was an error on the original application that they made in the DBA name of the company... the best thing to do to expedidte receipt of our $4 is to just FedEx me the docs and I initial next to the handwritten corrections they make. No problem... but my wife and I are smarter than that!!! We made copies of the FedEx Airbills, all the docs, etc...
Next, after I return the corrected docs, I get a call from the loan lady and she informs me that the $9000 IS owed by me and it reduced my cash out to $23K. BULLCRAP!!!! She claims it's too late now everything has already been sent to the county, etc...
Long story short, Nigel Drummond and I became very familiar with each other and not only did I get that loan cancelled, my original loans were put back in place with my other bank and the only fees I was out was the appraisal which I have a copy of now.
Don't give up your fight. They tried to put me in a position where I had to accept their lies and mistakes and suffer for them. I called their BS. YOU CAN TOO. FIGHT!!!!
C
Middleburg,Florida,
U.S.A.
I HAD A PROBLEM WITH HOME CAP TOO!!!
#4Consumer Suggestion
Fri, September 29, 2006
Lisa, try and contact NIGEL DRUMMOND (Nigel.Drummond@homecapitalinc.com) he is like an Executive VP.
My problem was similar but grew much deeper. I have a 1st & 2nd on my current home not exceeding the value (I did an 80/20 to avoid PMI).
I was talked into refinancing BOTH mortgages to 'save money' rather than just extend the 2nd mortgage... that turned out to be bogus!
Anyway, the BIG lies came when I finally got word that it was time to close. I got a call from the mortgage officer saying we were going to close. She told me I was paying off the 1st & 2nd mortgages, a credit card and I would get $32K in cash which I intended to use to pay off my wife's car ($27K) and then some home improvements.
The 'closer' called (a lady from a title agency) and told my wife to have a check ready for $9000... I called my processor and told her we weren't closing as that was stupid to pay that much money out and be left with not enough to pay off the things I wanted to... etc... etc... She assured me it was an error on the part of the closer and she'd take care of it.
At the closing IN MY HOME, I saw this $9000+ on the 2nd mortgage closing docs.. I called the Home Capital lady and again was assured it was just a paperwork thing required by the title company, "I promise you you are getting $32000 cash!"
At 7:30pm the DAY AFTER my 3 day Right Of Rescision, the loan lady calls me with grim news... There was an error on the original application that they made in the DBA name of the company... the best thing to do to expedidte receipt of our $4 is to just FedEx me the docs and I initial next to the handwritten corrections they make. No problem... but my wife and I are smarter than that!!! We made copies of the FedEx Airbills, all the docs, etc...
Next, after I return the corrected docs, I get a call from the loan lady and she informs me that the $9000 IS owed by me and it reduced my cash out to $23K. BULLCRAP!!!! She claims it's too late now everything has already been sent to the county, etc...
Long story short, Nigel Drummond and I became very familiar with each other and not only did I get that loan cancelled, my original loans were put back in place with my other bank and the only fees I was out was the appraisal which I have a copy of now.
Don't give up your fight. They tried to put me in a position where I had to accept their lies and mistakes and suffer for them. I called their BS. YOU CAN TOO. FIGHT!!!!