Priceline Mortgage.com ripoff ..there are a bunch of better options to wasting time with Priceline
I applied for a refinancing loan with Priceline Mortgage back in August 2001. I locke in with a pretty competitive rate and I thought I was getting a good deal. The charged my card with $250.00 which would be deducted off the closing costs once I closed on the loan.
To this date I still have not been able to close (today is February 18th, 2002). I have been given all kinds of excuses and they keep asking me for the same information over, and over. However, when I call them on the phone, they keep telling me that the loan is approved and it is ready to schedule closing. I opted not to give provide them with any of the information they keep asking for ( which I have already provided them three times), but to e-mail them and aske them to either cancel the application or to dis-approve the loan.
I still have not gotten my credit card credited back, nor have I got the loan.
My thoughts are, if anyone is looking to either buy or refinance a house, timing is very important, and these people are incapable of closing a loan in five months. Chances are for those who try to get a loan from Priceline Mortgage, they will either loose the buy, or pay all kinds of penalties for not being able to close on time. There are a bunch of better options to wasting time with Priceline.