- Report: #10574
Complaint Review: D M Bullard - kalamazoo Michigan
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Author Not Confirmed
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D M Bullard
535 s burdick kalamazoo, 49007 Michigan, U.S.A.
Phone:
616-345-0603
Web:
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D M Bullard predatory lender
I am writing to you becuase i dont want what happened to me to ever happen to anyone else.
On or about november 2000 My wife and i went to D M Bullard for a second mortage to pay of some credit cards.
Mister Bullard said he could get us a second moratage at 10%or better without touching our 15year6.75% first mortage
when all was said and done he actually rewrote our first mortage at 10.75% for 30 years.
This is illegal in our state but you must rescind the loan within 3 days in our case
we didn't dicover what had happend until a week later which was to late to do anything.
This was done by lying to us rushing the closing and not producing the documents until we actually closed.
When contcated Mr Bullard said you should have recined the order since you didn't it's your problem.
The problems dont end there besides charging $9000 in broker fee's there are several riders which make selling or refinacing or home impossible due to the fact that for 3 years we cannot pay more than 20% on our mortage without paying 6 months interst.
The final blow is a ryder that says the first 5 years well accural only $2000 in actual principal on our loan with our first mortage was still intact we would have $29000 in equity.
On or about november 2000 My wife and i went to D M Bullard for a second mortage to pay of some credit cards.
Mister Bullard said he could get us a second moratage at 10%or better without touching our 15year6.75% first mortage
when all was said and done he actually rewrote our first mortage at 10.75% for 30 years.
This is illegal in our state but you must rescind the loan within 3 days in our case
we didn't dicover what had happend until a week later which was to late to do anything.
This was done by lying to us rushing the closing and not producing the documents until we actually closed.
When contcated Mr Bullard said you should have recined the order since you didn't it's your problem.
The problems dont end there besides charging $9000 in broker fee's there are several riders which make selling or refinacing or home impossible due to the fact that for 3 years we cannot pay more than 20% on our mortage without paying 6 months interst.
The final blow is a ryder that says the first 5 years well accural only $2000 in actual principal on our loan with our first mortage was still intact we would have $29000 in equity.
1 Updates & Rebuttals
jason
carrollton,Texas,
you need to contact the department of Housing and Urban Development
#2Consumer Suggestion
Mon, April 15, 2002
You need to contact HUD. You can go to there website at www.hud.gov I am an independent lender/broker who finds integrity one of the cornerstones of my business. It is people like this guy, that makes my business difficult and unreputable.
