- Report: #933350
Complaint Review: iFreedom Direct - Internet Internet
Reported By:
sincityentity -
Las Vegas, Nevada, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
iFreedom Direct
Internet, Internet, United States of America
Phone:
877-821-7418
Web:
www.ifreedomdirect.com
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
iFreedom Direct FHA Streamline bait and switch, Internet
I received a letter in the mail from them regarding an FHA streamline. They blew me off because I have negative equity in my home. That's normal for the Las Vegas Metro area. The purpose of the FHA streamline is to refinance your house if you have no or negative equity with no appraisal required. Avoid this company. I think they were trying to bait and switch me into a conventional loan.
3 Updates & Rebuttals
sincityentity
Las Vegas,Nevada,
United States of America
$10K equity required
#2Author of original report
Fri, August 31, 2012
The person I talked to stated that iFreedom Direct does not do any loans unless there's $10K equity in the home, period. Anyone who knows anything about FHA streamlines knows that you can have negative equity in your home. The only thing that changes with a streamline is the interest rate. I am not going to waste my time calling your company. I might, however, see if this merits a complaint with FHA and the Nevada Mortgage Lending Division.
iFreedom Direct®
Salt Lake City,United States of America
iFreedom Direct
#3UPDATE Employee
Thu, August 30, 2012
I don't know the specifics of this loan. Although, first and foremost, we do not change loans into conventional loans. However, we do refinance into VA loans. We do not require equity in your home to refinance an FHA loan. There are many reasons why we would turn down a client for an FHA streamline. We do have a minimum credit score requirement and payment history requirements as well. If there has been any miscommunication on these requirements, please feel free to contact us at 801-493-2700.
iFreedom Direct®
Salt Lake City,United States of America
iFreedom Direct
#4UPDATE Employee
Thu, August 30, 2012
I don't know the specifics of this loan. Although, first and foremost, we do not change loans into conventional loans. However, we do refinance into VA loans. We do not require equity in your home to refinance an FHA loan. There are many reasons why we would turn down a client for an FHA streamline. We do have a minimum credit score requirement and payment history requirements as well. If there has been any miscommunication on these requirements, please feel free to contact us at 801-493-2700.
