| 05/28/2019 |
Yes |
- Mortgage
- Other type of mortgage
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- Struggling to pay mortgage
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Web |
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I registered and attended New Jersey XXXX expo on XX/XX/2018 at The XXXX XXXX XXXX XXXX, XXXX XXXX, NJ. I participated in the home buyer class. Attendees were told of a NJ State government program that gave first time home buyers {$10000.00} grant to help with down payment. Also present were some financial institutions, who have agreed to work with the state in providing loans to individuals who meet the criteria for the loan. The only condition for this loan was that a beneficiary must live in the house purchased for a minimum of five years. If the beneficiary decides to sell the house before the end of this five year period, he or she will pay back the money in full. Unfortunately, I engaged one of the firms ( Family First Funding LLC ) that I met at this expo for mortgage loan.
I was approved for {$500000.00} with a credit score of XXXX. But towards the end of the process, the mortgage firm said that my interest rate with be 6.125 %. This came as a shock because the market rate at that time was about 4 %. The loan officer told me that the higher interest rate was due to the fact that I was receiving a grant of {$10000.00} from the state through them. But I was made to sign a paper stating that the grant had no impact on the interest rate.
The worst thing is that when I spoke to the loan officer about 2 months ago, she told me I can not refinance until after 2 years. At different points I was ambushed with very little information that came at the last minute or when it was impossible for me to look for another lender.
They lied about the government grant determining the extraordinarily high rate ; and I was never told at the time I signed for the loan that, I can not refinance until after two years.
Why do I have to wait two years to refinance? Is this legal? Is it written in the original mortgage agreement? What is their reason for this exorbitant ( higher than prevailing market ) interest rate?
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| 03/30/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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It took me a long time to write this complaint, because I am a good and honest person, that got hurt really bad.
I would like to point out how XXXX XXXX took the joy out of buying my first home. What he promised over the phone, unfortunately never put it in writing, that he will match any lower rate given to me, was a promise not keep and fulfilled. After sending him a proof from another bank, I was told sorry nothing I can do about it and I was asked to take the other offer. However, the other bank has 3 months long process and I had 3 weeks to get out of my apartment with XXXX minor children. What a monthly payment supposed to be {$3200.00} it turned out to be {$3500.00} for the next 30 years of my life. All thanks to XXXX, who decided to get caught up in numbers. Family First Funding puts money and profit first, and not the customers. I am so disappointed with he whole experience, and I feel tricked and used. I believed in his word, and in his promise and that is the biggest mistake I have done. Instead of having {$300.00} a month to put away for the kids, I gave it to XXXX. He also promised we will do refinance free of charge, and guess what? He sold my policy to another bank within the first month. Another broken promise, another used client. He also accused me over the phone that I am trying to corner him into giving me a lower rate, however he was the one that offered me to match any lower rate I get. And I got it from XXXX XXXX, he just didn't wanted to hear it - hear out the customer. Be aware of Family First Funding, apparently a family owned business, which cares about their family only. The person who works for him was very compassionate about the whole situation, because she realized what just happened.
Purchased a house XX/XX/2022, XXXX XXXX XXXX
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| 07/27/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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On Friday XX/XX/XXXX my client closed on her property XXXX XXXX XXXX XXXX XXXX XXXX.
The closing was very rushed and changed last minuet as per the mortgage company. They insisted we change to " their Title company '' because they needed to close on this day or the clients lock would expire and they current title company was not cleared to be a vendor for them or something of that nature. All that being said, when my client went home, after closing on the home she purchased after selling her house in XXXX XXXX, she realized the XXXX was incorrect and said the sale price was {$220000.00} and in fact was supposed to be {$220000.00}. The contract and Deed say {$220000.00} however thinking it was a typo I immediately emailed Title and Mortgage of the error. Monday morning XX/XX/2018. I called the Mortgage company and they admitted they were wrong and made a mistake and would have the check to her by Tuesday or Wednesday. It is Friday and now they are trying to blame the realtors and not make up the difference, I feel there is so much wrong on this file someone needs to stop these people from their gross negligence and the lies they keep telling! The title company is XXXX XXXX XXXX XXXX XXXX, XXXX , NJ XXXX and the Mortgage Company is FAMILY FIRST FUNDING, ,LLC CONTACT INFO IS XXXX XXXX XXXX XXXX Please Help.
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| 12/19/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I refinanced with Family First Funding LLC on XX/XX/XXXX and was told not to make a mortgage payment for 2 months and expect escrow of about {$4000.00}. On XX/XX/XXXX the old mortgage company XXXX XXXX deducted my payment from my account. Contacted XXXX XXXX and was told that XXXX XXXX XXXX had sent the payoff on XXXX/XXXX/XXXX to XXXX XXXX, but XXXX XXXX had not received it as of XXXX/XXXX/XXXX. I was directed to XXXX XXXX XXXX XXXX and the agent told me the money had been " intercepted ''. Upon questioning I was told that because of my name and background and religion the money was " intercepted '' and had to be checked out. Then in mid-XXXX XXXX XXXX XXXX once again takes out my old mortgage payment because they still have not received the payment. I stopped the payment. At the end of XXXX XXXX XXXX reported that they had received the payment but because of late fees and penalties my escrow was only {$1500.00}. Meantime XXXX XXXX sold the mortgage to XXXX XXXX. I made my XXXX XXXX mortgage payment but received a letter from XXXX that the company had shorted the escrow and that I owed an additional {$960.00} in interest and penalties. Every agency tells me that there is nothing they can do and will not speak with my any more.
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| 12/21/2017 |
Yes |
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Web |
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During the title search there was an old judgement that surface. I presented the issue to the mortgage broker in an affidavit. He stated that he turned it into the under writers and attorneys for the mortgage company. Before closing I reached out to the mortgage broker and asked him for the status of my loan and the questionable debt. He told me they took care of it and it was too old to be factored into my income to debt ratio. Last week I received a noticed from my employer that a wage execution had been submitted and processed against. This now effects me ability to pay my mortgage and other household bills.
Family First Funding XXXX XXXX XXXX # XXXX XXXX XXXX, NJ XXXX Loan # XXXX
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| 12/07/2020 |
Yes |
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Web |
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The delay in meeting the contract timeline because they stated they had too many files and not enough staff.
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| 05/21/2021 |
No |
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- Trouble during payment process
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Web |
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| 03/31/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Older American |
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| 11/13/2020 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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| 05/20/2017 |
Yes |
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Referral |
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