Can you share specific mortgage lender horror stories about hidden fees?
A family was getting a mortgage and thought they had a great deal. But when it came time to close, they discovered there were all these hidden junk fees. For example, there was a 'courier fee' for sending documents that seemed excessive. These hidden fees added up to thousands of dollars more than they expected, putting a huge strain on their finances.
Sure. I heard of a situation where a lender added a bunch of hidden fees at the last minute. There were things like 'processing fees' and 'document preparation fees' that were not disclosed upfront. The borrower thought they had enough to cover the closing costs but ended up short because of these unexpected fees.
What are some mortgage lender horror stories?
One horror story is when a lender suddenly changed the terms of the mortgage right before closing. The interest rate shot up, and the borrower couldn't afford it. They had already made plans based on the initial terms, like hiring movers and giving notice at their rental. It was a nightmare as they had to scramble to find another lender or risk losing their dream home.
Can you share a specific 'reverse mortgage horror story'?
Sure. There was an elderly woman who took out a reverse mortgage thinking it would be a great solution to her financial problems. But she didn't realize that as the property value decreased over time due to market conditions, the loan balance kept increasing. Eventually, she owed more on the reverse mortgage than her house was worth, and she was at risk of losing her home.
Can you share specific United Wholesale Mortgage horror stories from customers?
One customer shared that they had a very difficult time getting in touch with their loan officer at United Wholesale Mortgage. Whenever they called, they were either put on hold for a very long time or transferred to different departments without getting any real help. The lack of proper customer service made the whole mortgage process a nightmare for them. Moreover, the company seemed to change the requirements for the mortgage in the middle of the process, which was extremely frustrating for the borrower who had already met the initial requirements.
Can you share some Mortgage Horror Stories?
Sure. One horror story is about a family who got a mortgage with a variable interest rate. At first, the payments were manageable. But then the interest rate skyrocketed. They could no longer afford the monthly payments and faced the threat of foreclosure.
Can you share specific Mortgage Audit Bureau success stories?
Sure. A homeowner was being charged a higher interest rate than what was initially agreed upon in the mortgage contract. The Mortgage Audit Bureau audited the documents and found the mistake. As a result, the lender had to correct the interest rate, saving the homeowner a significant amount of money over the life of the mortgage.
Can you share typical mortgage broker horror stories?
Well, some mortgage brokers collude with appraisers to inflate the value of a property. This can be really bad for the client. Let's say a client buys a house based on an over - inflated appraisal value. Later, when the market corrects itself or if they need to refinance, they find out that the house is actually worth much less. This can put them in a negative equity situation, meaning they owe more on the mortgage than the house is worth.
Can you share a 'rocket mortgage horror story'?
In my rocket mortgage horror story, the appraisal process was a mess. They sent an appraiser who seemed inexperienced. He undervalued my property significantly, which almost made my mortgage fall through. I had to fight to get a second appraisal, which cost me extra time and money.
Can you share some self lender success stories?
A young entrepreneur had an idea for a new mobile app. She got a loan from self lender to hire a developer to build a prototype. Through self - lender's flexible repayment terms, she could focus on getting the app ready for launch. Once launched, the app got popular very quickly. She used the revenue to not only pay back the loan but also expand the features of the app, and her startup is now a well - known name in the app market.
Can you share a specific story related to First Tennessee overdraft fees?
Sure. There was a customer who was traveling and made a few purchases while on the road. They thought they had enough money in their First Tennessee account but due to some delays in the processing of a deposit, they overdrafted. The bank charged them an overdraft fee that was much higher than they expected. It was really inconvenient for them as they were away from home and had to deal with this unexpected financial burden.
Can you share specific Qatar horror stories about living there?
Yes. Some have told stories about housing issues. There were cases where tenants had disputes with landlords over things like rent increases or maintenance problems. The legal processes to resolve these issues could be slow and complicated, leaving tenants in difficult situations.