This company offered me a certain rate and told me it was locked in. 2 months later, after I thought they had done the work to subordinate my 2nd and close, they came back to me stating the rates had increased and they would have to charge a higher rate. I checked with my 2nd mortgage company and Everhome had not even requested the subordination.
Everhome only wanted to drag this out to be able to ask for a higher rate. They offer the lower rate to get you in the door, get you locked into doing business with them after you pay their application fee and then drop the bomb on you that the rate won't be what they initially offered you. This is the biggest SCAM and in my opinion also false advertising. I am going to keep reporting this until they can't do it anymore.
firstfeatures
Los Angeles,#2Consumer Suggestion
Mon, October 14, 2013
We are collecting information on Predatory Lending for a book to be published in 2014. We are very interested in your experience and would like to get more details if possible. We hope that this book will help prevent this type of lending practice in the future.