Complaint Review: Moneytree Mortgage

In January of 2003 I was told by Moneytree Mortgage that I was approved for a $80,000 home loan. I was even given a monthly payment amount. They withdrew $200 from my checking account for an application fee, which would be refundable if I was not satisfied.

They sent me the forms to fill out and this took several months. I contacted them to inquire about my loan and was told they needed more information. More months went by, I called again and was told they were only going to lend me 80% of the 80,000. I was to find a lender to cover 15% and I was to pay 5%. I asked around and was told this type of loan was difficult to do. I wrote to Moneytree Mortgage and requested a refund.

I explained to them I was dissatified with their business. This loan had taken over a year and they failed to come through with what they had promised me. I received a letter back dated April 16,2004 in which they state they apologize for the delay but they are still working on my loan. I have attempted to contact them by phone with the number they gave me but the line is always busy. I called another number I had and there was a message stating they are have difficulty and gave a P.O. Box 219, Woodstock, Georgia 30188. That is the address I sent my letter to. I have sent a second letter requesting my refund.

Norma
Visalia, California
U.S.A.