- Report: #380682
Complaint Review: Top Dot Mortgage - New York New York
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Top Dot Mortgage
175 Old Country Road.long Island, New York, 11718 New York, U.S.A.
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Top Dot Mortgage promises and screws you New York New York
So you see a fancy advertisement to refinance your high rate mortgage and "take advantage" of new FHA lower rates and save $250-750 a month with Top Dot. But when you sit down for a quicky closing on a "RE-FI" as they call it, tons of extra costs are added to your old note balance. $200,000 old note at 7.5%, on the surface lowers the 7.5% to 6%, but the 200,000 debt on your house/coop is now $236,708.50.
When you walked in at 10am to their fancy office in jericho long island, you owed 200K at 7.5% , now you owe 36,708.50 MORE!!!!! The monthly may appear lower by $140 dollars, but now your OLD-12-years-left-to-pay, is back up to 20-25-or even 30.
They use a factor LTV--loan to value-and work magic to "approve your numbers", even do you a favor and let you add your mother-in-law, or son, or nephew,or friend to the "note" so it looks like you have more income- DO YOUR SELF A FAVOR- wear a tape recorder-and play back the hypnotic jargon- because with five high pressure sales people surrounding you.smiling of course, you get Ripped Off with a white teeth smile.
Retributionthyme
nassaucounty, New York
U.S.A.
When you walked in at 10am to their fancy office in jericho long island, you owed 200K at 7.5% , now you owe 36,708.50 MORE!!!!! The monthly may appear lower by $140 dollars, but now your OLD-12-years-left-to-pay, is back up to 20-25-or even 30.
They use a factor LTV--loan to value-and work magic to "approve your numbers", even do you a favor and let you add your mother-in-law, or son, or nephew,or friend to the "note" so it looks like you have more income- DO YOUR SELF A FAVOR- wear a tape recorder-and play back the hypnotic jargon- because with five high pressure sales people surrounding you.smiling of course, you get Ripped Off with a white teeth smile.
Retributionthyme
nassaucounty, New York
U.S.A.
1 Updates & Rebuttals
Cat
Hendersonville,Tennessee,
U.S.A.
you should have told them......
#2Consumer Suggestion
Mon, October 13, 2008
Sorry guys, I'm a little confused. I thought I went in to refinance my mortgage but it looks like I am getting my teeth cleaned! ha!
