- Report: #1237259
Complaint Review: Security Mortgage Company - Farmington Hills Michigan
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Author Not Confirmed
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Security Mortgage Company
30201 Orchard lake rd #101 Farmington Hills, 48334 Michigan, USA
Phone:
248-629-0449
Web:
Securitymortgage1.com
Categories:
Business Rating:
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Security Mortgage Company 4 months later and $1,000 and still no closing date set Farmington Hills Michigan
I started a loan process with this company back in early March 2015. Bill my rep said I had great credit and he could easily get my home refinanced. Well after he got my basic info he said the mortgage processor Beverly would handle everything. Well the first two months Beverly would email me once a week asking for certain items and I would return the paper work to her within 24 hrs then I would wait another week to hear from her and she would ask for more stuff and I would do this over and over again. We ordered our first appraisal and it came back at 382,000 and I just bought the house 8 months before for 417,000 so I wasn't happy and she said she could do nothing because appraisers are third party people and they don't have contact with them. She just orders the report and what they tell the bank is the number your stuck with. I should have walked away from this company at this point like I said I was going to do but they convinced me that they had another bank they could use and I just had to pay another 500 for an appraisal and that number should be higher because even they said the appraisal seemed low to them. Well 4 weeks later and me sending everything they asked for the new appraisal comes back at 435,000. Great news I thought!
Another 4 weeks later I get an email from Beverly saying they need my business profit and loss statements and my business assets statements and by the way the bank is reducing your appraisal from 435,000 down to 415000. Excuse me your bank hired the appraisal and I was told on the last appraisal there is nothing you can do to raise it but somehow your bank can lower it. This sounded vary shady to me. I told them I wasn't going to pay my accountant money to get more reports for them when there is no closing in sight and they reduced the appraisal they hired and I payed for. When I told them I was going to pass on using their company because I was sick of waiting four months to close and felt I was cheated out of them switching the appraisal amount. In the first time in four months I didn't have to wait a week to get a reply both Beverly and Bill called within one day saying they didn't want to lose my business and they can't control the bank. Nobody should have to wait four months and spend 1,000 on appraisals to close a loan. This company does not know how to treat customers and they just try and blame it on the bank. They represent the bank so they should own up to their mistakes and maybe not represent that bank. If you need a loan or refinance then take your business elsewhere. They don't know what their doing and don't accept fault.
