My personal experience with Americash
Written: May 07 '09 (Updated May 07 '09)
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Pros: None.
Cons: Too many to count.
The Bottom Line: Please do yourself a favor and avoid this company.
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| zoocosmo's Full Review: Americash Mortgage |
My wife and I were in the middle of a refinance with another company when we decided to go with Americash. I had sent the loan consultant our terms for refinance by email before moving forward. He then sent us a Good Faith Estimate based on these terms. We were taking cash out so that we could pay off our auto loan. According to the GFE we were to receive about $8659. When we received the HUD this number had changed to $2788. Apparently the representative forgot to enter both the Cash out option and Waive Escrow option that were part of the terms that I had emailed beforehand. This increased our points paid. We requested that they make up the difference as it was their error but they declined. After we told the rep. that we would not be signing, we were contacted by his supervisor. The supervisor then waived some fees and moved things around so that we would have cash back of $5476. This is still a difference of $3183. In their defense, the supervisor did offer to pay us back for the appraisal but because we had given them the appraisal that we requested from the previous company, they could not even live up to this. Because the rates have dropped in the past few weeks were are now going with another company at a higher rate. My wife and I would suggest looking elsewhere for your mortgage needs. This company cost us our appraisal ($350) as well as the $64 a month that we are losing in monthly payment with the higher interest rate. That alone adds up to $23,040 over 360 months. Do yourselves a favor and avoid this company.
Recommended:
No
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Epinions.com ID:
zoocosmo
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Reviews written: 1
Trusted by: 0 members
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