East West Mortgage
Written: May 02 '00
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Product Rating:
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Pros: None
Cons: Deceptive Advertising, Untruthful Representatives
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| RoxanneLeigh's Full Review: 1-800-GET-LOAN |
When I was shopping for a mortgage. I tried one company who told me I would need x amount of dollars for closing costs & downpayment. East West advertised no closing costs & low downpayment. I met with the East West Rep. who told me the down payment would be 3% and all closing costs would be rolled into the loan. I found a home, had it inspected and proceeded with the purchase. East West was slow getting everything together, which made the seller very nervous. When finally the closing day arrived I received a phone call from the closing attorney letting me know how much money to bring to the closing. I was shocked to find out that I would need $2,500 more dollars than I was quoted by East West. When I questioned this, the attorney reviewed each item on the HUD form with me. I contacted my rep at East West who told me she forgot to mention that an FHA loan cannot have closing cost rolled in. I was a wreck! I almost had to cancel the purchase 2 hours before the closing. Luckily for me a family member loaned me some money and the money I had set aside for appliances was used for the closing. After talking to several co-workers I heard their horror stories about East West. Apparently this is how they operate all the time. Now when I hear someone is buying a home I tell then not to use East West unless they want to me lied to and add extra STRESS to their purchase.
Recommended:
No
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Epinions.com ID:
RoxanneLeigh
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Reviews written: 1
Trusted by: 0 members
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