Complaint Review: SecuredFunding Corporation

I was contacted by this company and completed a Home Equity Line of Credit. I was told a rate and given a Good Faith Estimate with fees and certain pay offs that I desired. When the fees were challenged as very high they (Mr Underwood) said the company would refund $1,500 (faxed a letter confirming the arrangement) after the loan closed. They then changed the pay offs (and did not send a new Good Faith Estimate as required by federal law (RESPA)). I called them and told them to cancel the loan and send all our documents to a new company. They indicated they would. 10 days later we received the paperwork and a check for the cash out. They had closed the loan against our verbally communicated desires. We contacted them and they said it was a mistake and we should move on. We asked for the $1,500 that was to be refunded. They indicated it would be sent within a week. We never received the money and they never returned and phone calls. This company is a RIPOFF and a predator. Stay away from them at all costs.

Dale
Stockton, California
U.S.A.