- Report: #152820
Complaint Review: CHAMPION - PARSIPPANY New Jersey
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Author Confirmed
Why?
CHAMPION
2 GATEWAY DRIVE,PARSIPPANY,NJ 07054 PARSIPPANY, 07054 New Jersey, U.S.A.
Phone:
800-490-8558
Web:
N/A
Categories:
Business Rating:
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Tell us has your experience with this business or person been good?
CHAMPION BAIT AND SWITCH PARSIPPANY New Jersey
When I first went to Champion (now owned by Key Bank) for a mortgage he said that he could give me the best rates possible, and this would be the last Mortgage Company I would ever have to deal with. He said he could give me a rate of 4.6%. I was getting 8.25% at my bank at the time. So in January 2004 I switched to Champion for the 4.6% rate. I had to pay for the whole closing costs and everything. After 1 year in January 2005 this person called and said I have to lock you in at a fixed rate of 7.25% for 14 years and that is the best I could do with your credit rating. They said if I wanted a lower rate I would have to buy it, pay for another closing and he would give me a rate of 6.0%.
I called other banks and they said what Champion did to me was ludicrous. Right now mortgage rates are at an all time low. I had several banks check on my credit and they said I have an outstanding credit rating. After all this I went with one of my local banks and they gave me a fixed rate for 15 years for 5.25%. I had to fork out another $4,500.00 for another closing at another bank and still lower than Champion which wanted 14 years at 7.75%. If this isn't a bait and switch then I got caught hook line and sinker.
Norman
ULSTER PARK, New York
U.S.A.
I called other banks and they said what Champion did to me was ludicrous. Right now mortgage rates are at an all time low. I had several banks check on my credit and they said I have an outstanding credit rating. After all this I went with one of my local banks and they gave me a fixed rate for 15 years for 5.25%. I had to fork out another $4,500.00 for another closing at another bank and still lower than Champion which wanted 14 years at 7.75%. If this isn't a bait and switch then I got caught hook line and sinker.
Norman
ULSTER PARK, New York
U.S.A.
1 Updates & Rebuttals
Norman
ULSTER PARK,New York,
U.S.A.
Bait and Switch
#2Author of original report
Sat, October 22, 2005
I did not think they would rebuttal this. The person I got this loan from was Kevin Kreider. A lesson learned from this is that whenever you are talking to some one on the phone make sure you get there full names. Most of the papers they send me in the mail only have titles, like Loan Officer. Make sure you know who you are talking too.
