Beware of the hidden and last minute fees not listed on the Good Faith Estimate
Written: Jul 28 '08 (Updated Jul 28 '08)
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Home Finance of America....Beware of the hidden and last minute fees not listed on the Good Faith Estimate. I was ripped off by this company to the tune of approximately $1200 in hidden and bogus fees. They charged me .25 of a point to NOT Escrow when I stated on the first day I did NOT want to Escrow. No mention of a charge for NOT escrowing was divulged until the day before closing. In my closing package they included temporary payment slips to Country Wide where my loan had been assigned. I made my payment as directed and approximately a week later I received notification in the mail from JP Morgan Chase bank that my loan had been assigned to them by Home Finance of America. Home Finance of America never notified me that there was a change from what was included in my closing package. Luckily my check to Country Wide had not processed and I was able to put a Stop Payment on the check for a $32.00 fee at the bank. I have faxed all my information detailing the stop payment charges to Linda Deuber, my loan officer, at Home Finance of America. I requested reimbursement of $50.00 to cover the Stop Payment Fee & my time & trouble to correct their error. It has been a week and I have not gotten any reply from them.
The best advice I can give is Don’t waist your time or money with this company.
They advertise low rates but kill you in hidden fees that get you at the last minute when it is to late.
Recommended:
No
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