- Report: #137826
Complaint Review: Countrywide - Full Spectrum Lending Joe Harris Branch Manager - Virginia Beach Virginia
-
Author Confirmed
Why?
Countrywide - Full Spectrum Lending Joe Harris Branch Manager
5040 Corporate Woods Drive, Suite 100 Virginia Beach, 234622 Virginia, U.S.A.
Phone:
800-440-1158
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Countrywide/Full Spectrum Lending, Joe Harris, Branch Manager LIES, DECEIPT AND FRAUD. WE WERE BLINDSIDED WITH HOW LOW COUNTRYWIDE COULD GO. NO SHAME, NO BLAME! Virginia Beach Virginia
In 2003, my husband and I financed our home in North Carolina with Countrywide/Full Spectrum Lending, at an extremely high interest rate of 10.5%.
Initially, we agreed to an interest rate of 8.375% (I kept the signed documents that will verify this fact). However, at closing, the interest rate was switched to 10.5%.
Desperately needing the equity, we agreed to the terms with the understanding that we could refinance to a lower rate in a year.
Countrywide appraised the home in 2003 at $81,000.00. Now that we have applied for refinancing at a rate of 6.135%, Countrywide performed another appraisal with the property's value deflated to $50,000.00. Both appraisers were hired and selected by Countrywide from Landsafe.
It is not possible for this property's value to drop by $30,000.00 in just over a year unless it was near demolished, which is not the case. It is a brick rancher on one acre of land and including a tennis court.
For over 2 months now, we are sick and tired of the lies. Countrywide's position now is to use the $50,000. appraisal, even though their Underwriters approved an appraisal for $81,000.00. You do the math. It does not add up.
If we try to leave for another Lender, there is a prepay penalty. They made dam sure that we would keep paying that 10.5% interest rate.
We've filed complaint with HUD and the Federal Trade Commission. We need a lawyer. The only way to make this comany stand up and pay attention is by hitting them where it hurts most, THE POCKETBOOK.
Alma
Littleton, North Carolina
U.S.A.
Initially, we agreed to an interest rate of 8.375% (I kept the signed documents that will verify this fact). However, at closing, the interest rate was switched to 10.5%.
Desperately needing the equity, we agreed to the terms with the understanding that we could refinance to a lower rate in a year.
Countrywide appraised the home in 2003 at $81,000.00. Now that we have applied for refinancing at a rate of 6.135%, Countrywide performed another appraisal with the property's value deflated to $50,000.00. Both appraisers were hired and selected by Countrywide from Landsafe.
It is not possible for this property's value to drop by $30,000.00 in just over a year unless it was near demolished, which is not the case. It is a brick rancher on one acre of land and including a tennis court.
For over 2 months now, we are sick and tired of the lies. Countrywide's position now is to use the $50,000. appraisal, even though their Underwriters approved an appraisal for $81,000.00. You do the math. It does not add up.
If we try to leave for another Lender, there is a prepay penalty. They made dam sure that we would keep paying that 10.5% interest rate.
We've filed complaint with HUD and the Federal Trade Commission. We need a lawyer. The only way to make this comany stand up and pay attention is by hitting them where it hurts most, THE POCKETBOOK.
Alma
Littleton, North Carolina
U.S.A.
1 Updates & Rebuttals
Angie
Destin,Florida,
U.S.A.
Full Spectrum Countrywide Bloodsuckers
#2Consumer Suggestion
Mon, July 25, 2005
I filed my own report similar to yours. Look for the one in Destin Florida. They tell you certain things and then drag you out until you are desperate to close because you are past due on what they are supposed to payoff. They gave me 4 different HUD's, made me sign a right to rescind 3 different times and kept putting off my loan disbursement date. They didn't payoff most of what they had initially said they would. They failed to include the interest in the payoff of the mortgage with them that I was refinancing with them on the good faith estimate. They waited far into the process to disclose that they were not providing all the payoffs they said they were and tried to keep as much of my cash coming back as possible by finding things to charge me with. They gave me a good interest rate but charged me a buttload of points (that I didn't know how to interpret) and put a horrible prepayment penalty in there. I have a file 6 inches thick with emails from fighting them to get back some of what they promised me. They suck. No doubt.
