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  • Report:  #2184

Complaint Review: First Alliance Mortgage - Los Angeles California

Reported By:
- paramus, nj,
Submitted:
Tue, May 02, 2000
Updated:

First Alliance Mortgage
P.O Box 30670 Los Angeles, 90030-0670 California, U.S.A.
Phone:
1-800-695-6500
Web:
N/A
Categories:
Mortgage Companies
Tell us has your experience with this business or person been good? What's this?
refinance $87,000.00 after finishing with the broker. I said my mortgage will be $87,000.00. he said yes. when i received my new payment the total amt. of my mortgage was $109,000.00. when i spoke to the broker he told me will have the pay the interest on top of the mortgage for 30 yrs. so now i have to pay $109,000.00 for 30 yrs.

when i called first alliance for the paper work on my mortgage they said they will send it to me because i have received no paper work on this mortgage. 6mos later i get a notice from first alliance saying they no longer do mortgages in n.j.so now i have to get another mortgage. and the broker is driving me crazy because he opened his own business and took my file, and he tells me he will get me another mortgage co.

i wont go with him because it is costing me another $15,000.00 to get a new mortgage co. people should not be aloud to do this to hard working people. who can you trust today have you heard any other complaint against first alliance mortgage co.

joan


2 Updates & Rebuttals

John

Tampa,
Florida,
First Alliance Mortgage is TOAST!!!

#2Consumer Comment

Thu, March 21, 2002

Federal Trade Commission announced today that this company is pretty much history. If you got a loan through these crooks in the last 12 years or so, you may be eligible for some compensation. Check out this link for the full story. Good luck!!! http://www.ftc.gov/ opa/2002/03/famco.htm John Tampa, FL


Don't blame the lender or broker becuase you are ignorant! *EDitor's Comment .. not so!

#30

Tue, July 17, 2001

This email is a rebuttal to RipOff #2184.
It was sent by The loan Arranger at [email protected]

first alliance mortgage ....mortgage company rip off (#2184)

They filed the following rebuttal to the above Rip-Off Report:

Their email: [email protected]
Their name: The loan Arranger
Their phone number: 913553-6963
Their relationship to the company: Advocate

Rebuttal:
Joan,
Didn't you sign a paper that reccomended you take the loan papers to an Attorney of your choice? Let me guess you signed 40 papers and didn't read any of them? Let me guess you say you didn't get any copies did you ask for them? If you signed up for a loan of $109,000 and didn't read the Loan papers, it YOUR OWN FAULT! Don't blame the lender or broker becuase you are ignorant! Do your homework! Know one feels sorry for you, we all have to take responsibility for what we do! Once you signed the loan, you committed yourself to this so called mistake! You make your bed...

::::::::EDitor's Comment to the above REBUTTAL:::::

Dear Loan Arranger:

Not so! Don't get me wrong, I appreciate the REBUTTAL. But don't be nieve. In theory your correct. But, you know as well as I do, the people selling these loans are no better than a car salesman. They get your trust with general BS, explaining to their victims all the paragraphs and pages their way leaving out certain key points. Yes, without even reading it. Why? Not because these people are ignorant, it's because most people are trusting and easy targets to pray upon. Like the victim above. Very trusting.

Most consumers don't think they need to be showing things like this to a lawyer. Consumers don't expect deception from mortgage brokers. Not enough publicity out there yet.

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