- Report: #173160
Complaint Review: HomeLoanCenter.com - Irvine California
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HomeLoanCenter.com
163 Technology Drive Irvine, 92618 California, U.S.A.
Phone:
800-942-3683
Web:
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Homeloancenter.com Bait and Switch Rip Off Dishonest Business practices Irvine California
I wish that i would of read some of the reports on this website about HomeloanCenter.com, before I had my awful experiance with this company.
I submitted for a loan on lendingtree.com and as soon as I clicked submit a "fast talking" salesman was on the phone with me. He acted like he was my best friend too, until I cancelled the loan. He had a great loan for me, almost to good to be true. He in fact got me to put down a 600 lockin deposit. When I asked if I would get this deposit back if I decided not to do the loan, his response was that homeloancenter.com is in the business of doing loan not taking people 600 dollars. So I made the BIG MISTAKE of faxing him the lock in agreement with my signature.
I got to talking to some people at work about this loan and they told me it sounds like a negative amortization. Which in most cases is a bad loan because your mortgage actually increases overtime. When I called him up and asked him if it was a negative amortization loan he said "no, it wasn't." I was still suspicous and I called back to the customer service line and talked to someone else and gave them my loan program code and they told me it was a negative amortization. When I called him back and I told him I found out that it was a negative amortization his response was well of couse it is. But that he didn't need to tell me that because my mortgage won't increase because of the amount that I am paying.
At this point I had just been lied to and misled so I cancelled the loan. Now, I can get my 600 dollars back because I signed this lock in agreement. I have tried calling supervisors at HomeloanCenter.com and they are just as bad. They won't return your phonecalls and I think even use caller ID to screen incoming phone for unhappy customers. I was told by a supervisor that the lock in agreement clearly states that it is a MTA... As if I'm a loan expert and should know what an MTA is...
Here I have a 600.00 lock in deposit on my credit card and nothing to show for it. HomeLoanCenter has my 600.00 and did nothing but lie and to me to earn it. Am i upset.. You bet! Stay away from HomeLoanCenter.Com!!
Trevor
Mililani, Hawaii
U.S.A.
I submitted for a loan on lendingtree.com and as soon as I clicked submit a "fast talking" salesman was on the phone with me. He acted like he was my best friend too, until I cancelled the loan. He had a great loan for me, almost to good to be true. He in fact got me to put down a 600 lockin deposit. When I asked if I would get this deposit back if I decided not to do the loan, his response was that homeloancenter.com is in the business of doing loan not taking people 600 dollars. So I made the BIG MISTAKE of faxing him the lock in agreement with my signature.
I got to talking to some people at work about this loan and they told me it sounds like a negative amortization. Which in most cases is a bad loan because your mortgage actually increases overtime. When I called him up and asked him if it was a negative amortization loan he said "no, it wasn't." I was still suspicous and I called back to the customer service line and talked to someone else and gave them my loan program code and they told me it was a negative amortization. When I called him back and I told him I found out that it was a negative amortization his response was well of couse it is. But that he didn't need to tell me that because my mortgage won't increase because of the amount that I am paying.
At this point I had just been lied to and misled so I cancelled the loan. Now, I can get my 600 dollars back because I signed this lock in agreement. I have tried calling supervisors at HomeloanCenter.com and they are just as bad. They won't return your phonecalls and I think even use caller ID to screen incoming phone for unhappy customers. I was told by a supervisor that the lock in agreement clearly states that it is a MTA... As if I'm a loan expert and should know what an MTA is...
Here I have a 600.00 lock in deposit on my credit card and nothing to show for it. HomeLoanCenter has my 600.00 and did nothing but lie and to me to earn it. Am i upset.. You bet! Stay away from HomeLoanCenter.Com!!
Trevor
Mililani, Hawaii
U.S.A.
1 Updates & Rebuttals
Steve
Corona,California,
U.S.A.
I know who to call
#2Consumer Suggestion
Wed, January 25, 2006
I am in the mortgage business and I can suggest a few people at that location for you to call. I worked with them at a different company and they will help you. Call Brandi Franson, Norm Steeg, or Michele Berman. Brandi and Norm are at an executive level, Michele is a Loan Officer. They are all legit and honest people. Now, regarding the MTA loan, commonly known as the "Option ARM, Pick-A-Pay, or Flex loan. Yes, it has the POSSIBILITY of negative amortization, but depending on how much you pay each month, it does not have to be that way. Making at least the "interest only" payment will not go neg am. The Homeloan Center has MANY other loan programs, not just the "Option ARM" that you are referring to. Your application fee can be used for any of the other loan programs there. If you call one of the people I suggested, they should be able to help you out. The option ARM is not a bad loan. It has certain features that would be very beneficial for a borrower using the loan for some specific purposes. It is not for everybody.
