Complaint Review: HomePointeFinancial - Internet

Back when the government had the $8,000 tax credit for 1st time home buyers  I went on Google and Googled ''Bad Credit Mortgages'' and HomePointeFinancial came up on the 1st spot on the sponsored links section on Google . I dialed (877)420-5183 which is HomePointeFinancial's number on their website . I spoke to a supposed ''Loan Officer'' and she took an application for a FHA mortgage with me on the phone . She made me go to www.creditchecktotal.com to obtain a copy of my credit report because she said ; ''Here at Home Pointe we don't want to hurt your credit score by pulling it ourselves'' I thought of this as a very akward request by her after having applied for mortgages in the past and knowing that any ''real FHA mortgage companies'' don't ask for that in the 1st place . They just pull your report on the spot and tell you wether or not you are approved and the phone call is over right there if you don't qualify. Dumb myself ,  I still went to the website , pulled my credit report and sent her a copy of my credit report to (954)596-8705 which is their fax number .

Next day she called me to go over my credit report over the phone . I was believing that she was going to call me to tell me I was approved and that Home Pointe Financial was going to finance me to get a FHA loan for a house I was interested in back then  .Instead she just went on and on about the negative items on my credit report . Then she mentioned how I had the income and job history but the only thing I didn't had was the credit and that FHA wants to see a 620 middle score. She then told me that Home Pointe Financial has a ''Rapid Credit Restoration'' program that they would help you get your scores above a 620  within the first 60 to 90 days of having enrolled on the program and help you remove all your collections on your credit report in order to get me financed . She also mentioned that Home Pointe Financial guaranteed the scores would improve beyond a 620 and that the 799.00 dollar cost of the program would be applied as a Discount from my closing costs . I went ahead and gave her my credit card info over the phone and I enrolled on the program . She sent me 6 documents that I had to sign and fax back to her .

After having my ''case manager'' call me and go over my full credit report I thought that they were really going to fix me credit . The case manager told me that I had to wait 30 to 40 days to start getting the update letters from the 3 credit bureaus . I started receiving correspondence from all 3 credit bureaus so at that point I was really thinking they were really fixing my credit . After the 1st month  I refered to them a close friend that also signed up to get his credit fixed .      Me , blinded by the 8,000 dollar tax credit sacrificed and lost my $799.00 I gave them in 2 payments of $399.50 and so did my close friend that paid them in full the $799.00 before they had done any work on his credit . When I enrolled my credit scores were 546 , 525 , and 519   , my friend's scores were 570 , 565 , and 563 . After 5 months of me being in their credit restoration program my scores ended up to 589 , 577 , and 575 . I don't know the exact numbers my friend's scores changed due to the fact that me reffering him to Home Pointe Financial cost me our friendship . I always did everything that they asked me to do .

After 6 months of being in their program , I tried getting my money back and the branch manager , Frank Cousins said that my scores did improve and that Home Pointe Financial had fulfilled their promise to improve my credit so they were not entitled to give me my money back . He pointed that the credit restoration contract that I signed  only guarantees that I would get my money back ''If My Credit Did Not Improve'' providing that I was in compliance with the paragraphs preceding the one that has the guarantee on it . I was always in compliance with all the paragraphs in their contract . For me the whole goal of this was to get my scores above a 620 in order for me to get approved for an FHA loan. Instead I ended paying $799.00 for a mere 43 ,52 , and 56 point gain that still fell way short of the 620 they so much promise you in the very beggining when they tell you how they help a lot of people with scores in the 400's get beyond a 620 and how they get them financed for an FHA loan themselves . They are not a FHA approved bank at all .

I looked them up on the FHA approved lenders and they don't show up at all . They very ilegally lie about the whole FHA thing . They use the ''Bad Mortgage Credit'' thing on Google to get people to call them and get them to think that they are a bank when the fact is that they are not . Home Pointe Financial is just another credit restoration scam that's on the internet ripping off hard working Americans . This is a bad economy and to be robbing hard working Americans in these bad times is something that the US government needs to step in and send all the crooks at Home Pointe Financial and similar companies to Federal Prison for ilegally using a government backed program to sell you on a credit restoration program that did not help me (or my friend) get beyond the 620 that they promised me and my friend when we 1st called them .Don't fall for their $799.00 dollar scam .