Application, originator, mortgage broker

Posted on Posted in Complaints, Mortgage

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IN XX/XX/2015 MY WIFE AND I TRIED TO REFINANCE OUR HOME WITH BANCO POPULAR OF PUERTO RICO AND AFTER RECIEVING NOTICE OF APPRAISAL FOR $XXXX HAVING THE DEBT AT $XXXX ($XXXX EQUITY) AND HOUSEHOLD EARNINGS OVER $XXXX FOR EACH OF THE LAST 3 YEARS. AFTER 6 WEEKS WE CALLED AND TO OUR SURPRISE WE WERE DENIED OF THE LOAN BUT THEY NEVER WROTE OR CALLED AND THEY NEVER PRESENTED A WRITTEN PROPOSAL FOR WHICH WE HAD A RIGHT TO SEE BEFORE WE WOULD ACCEPT THE PROPOSAL TO BE TAKEN TO THE DECISION MAKERS OF THE BANK STAFF.
WE GAVE THE BANK $XXXX DOLLARS FOR THE APPRAISAL AND DOCUMENTATION WHICH WE NEVER SAW. THE OFFICER THAT ATTENDED OUR CASE TOLD US THAT WE WOULD NOT HAVE ANY PROBLEMS WITH OUR CREDENTIALS AND OFFERED BY WORD OF MOUTH TO CLEAR OUR C.C. DEBTS WHICH WOULD BE ADDED TO THE DEBT ($XXXX). IN TOTAL, WE WOULD BE PAYING $XXXX LESS MONTHLY, ($XXXX) WHERE WE USE TO PAY BETWEEN HOUSE AND C.C. $XXXX CAN SOMEBODY EXPLAIN? THEY NEVER WROTE, NEVER CALLED AND WE HAD TO CALL TO FIND OUT. THEY TOLD US THAT OUR INCOME WAS INSECURE BECAUSE WE ARE XXXX????? IT WAS NOT INSECURE WHEN WE PAID THEM FOR 146 STRAIGHT MONTHS ON TIME!!! NOW, BECAUSE WE WANTED TO LOWER OUR INTEREST RATES FROM 6.25% TO 3.75% WITH VERY FAIR CREDIT. IN MY OPINION THEY WANT TO TAKE THE PROPERTY FROM US AND AT THIS POINT THAT IS WHAT THEY ARE DOING. WE STOPPED PAYING THE HOUSE BECAUSE FROM THAT MOMENT ON (XXXX) WE SUUFERED A LOST IN INCOME AND WE TRIED LOSS MITIGATION BUT WITH NO AVAIL BECAUSE THEY TOLD US THAT THE HOUSE BELONGS TO XXXX AND THEY DO NOT DEAL WITH LOSS MITAGATION. WE WENT TO CONSUMER CREDIT, WE TRIED HARP, HAMP, HOPE, MAKING HOME AFFORDABLE WITH NO RESULTS IN OUR FAVOR. THE BANK WAS MENACING US THAT IF WE DID NOT GIVE THEM THE HOUSE THEY WOULD FORECLOSURE LEGALLY, TAKE IT TO AUCTION , SELL AT WHATEVER PRICE THEY CAN AND WE WOULD BE RESPONSIBLE IN OUR LIFETIME OF PAYING THE DIFFERENCE. WE HAVE SUFERRED A GREAT LOST, ALL OUR INVESTMENT IS IN THE WALLS OF THAT HOUSE. WE HAVE SHED OUR TEARS AND WE STILL DO.
IF YOU WISH TO CONTACT ME, PLEASE DO
XXXX OR XXXX
THANK YOU AND XXXX BLESS

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