Wachovia Mortgage Ripoff Got 2 Stories One over phone and MORE EXPENSIVE at Closing Charlotte North Carolina
I was contacted by Wachovia Mortgage from an application that I submitted online. When I was contacted I was told that my rate would be 6.25% and that my closing costs would not exceed $1,000.00..GUARANTEED! When I told other people who wanted to do my loan what I was being offered they all told me the same thing and that is...be very careful. They all told me I was being given what they referred to as a 2 story loan and that when I got to closing, things would change. Boy, were they right!! What was guaranteed to be under $1,000.00 to close was a faint memory when I got to my closing. Never have I felt so deceived and so lied to. My rate, coincidently, also was not the same. Rest assured, I will make sure never to do business with them EVER AGAIN! And further more, I will make sure to mention this experience to all of my friends, relatives, neighbors, coworkers and anyone else I can warn. Let this be a lesson to anyone who is entertaining doing business with Wachovia! All of the people who warned me about searching for a bargain in lending were right! There are no bargains to be found and now I regret not following through with one of the many people who warned me about these tactics! Don't end up like me.
Gerry
Little Ferry, New Jersey
U.S.A.
5 Updates & Rebuttals
Robert
Gaithersburg,Maryland,
U.S.A.
Thanks for the warning
#6Consumer Comment
Sat, July 08, 2006
Thank you for the warning!
Wachovia Mortgage and two other companies have been negotiating for my business over about the past two weeks. Their estimate of closing costs is rather different than the one given you, but still seems very low. Thier representative's picture of the final outcome seems too good to be true. Unfortunately, mortgage closing is an industry that is not regulated anywhere. This is because that industry has a strong lobby.
The bottom line is that they want your business and your deed, thus, hey will tell you the most fantastic lies to get it. Appreciate your posting, I'm going with one of the other offers.
Robert
Gaithersburg,Maryland,
U.S.A.
Thanks for the warning
#6Consumer Comment
Sat, July 08, 2006
Thank you for the warning!
Wachovia Mortgage and two other companies have been negotiating for my business over about the past two weeks. Their estimate of closing costs is rather different than the one given you, but still seems very low. Thier representative's picture of the final outcome seems too good to be true. Unfortunately, mortgage closing is an industry that is not regulated anywhere. This is because that industry has a strong lobby.
The bottom line is that they want your business and your deed, thus, hey will tell you the most fantastic lies to get it. Appreciate your posting, I'm going with one of the other offers.
Robert
Gaithersburg,Maryland,
U.S.A.
Thanks for the warning
#6Consumer Comment
Sat, July 08, 2006
Thank you for the warning!
Wachovia Mortgage and two other companies have been negotiating for my business over about the past two weeks. Their estimate of closing costs is rather different than the one given you, but still seems very low. Thier representative's picture of the final outcome seems too good to be true. Unfortunately, mortgage closing is an industry that is not regulated anywhere. This is because that industry has a strong lobby.
The bottom line is that they want your business and your deed, thus, hey will tell you the most fantastic lies to get it. Appreciate your posting, I'm going with one of the other offers.
Robert
Gaithersburg,Maryland,
U.S.A.
Thanks for the warning
#6Consumer Comment
Sat, July 08, 2006
Thank you for the warning!
Wachovia Mortgage and two other companies have been negotiating for my business over about the past two weeks. Their estimate of closing costs is rather different than the one given you, but still seems very low. Thier representative's picture of the final outcome seems too good to be true. Unfortunately, mortgage closing is an industry that is not regulated anywhere. This is because that industry has a strong lobby.
The bottom line is that they want your business and your deed, thus, hey will tell you the most fantastic lies to get it. Appreciate your posting, I'm going with one of the other offers.
Cory
San Antonio,Texas,
U.S.A.
They Told You So
#6Consumer Comment
Wed, March 01, 2006
They told you you were being given a "2 story loan". They told you when you got to closing, things would change. And they did. "Never have I felt so deceived". They told you it was gonna happen. And it did. And what did you do? You went ahead and closed on the loan. You rewarded them for their dishonest and deceitful ways by closing on the loan. You should have just gotten up and walked out. You went with the cheapest "bargain" and that's what you got. But thanks for the warning.