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  • Report: #298300

Complaint Review: NEW CENTURY MORTGAGE COMPANY

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  • Submitted: Tuesday, January 08, 2008
  • Last Posting: Tuesday, January 22, 2008
  • Reported By: — Sebastian Florida
NEW CENTURY MORTGAGE COMPANY
www.newcenturymortgage.com Nationwide U.S.A.

NEW CENTURY MORTGAGE COMPANY Misleading Mortgage Information on Closing Paperwork Irving California


1Author 1Consumer 0Employee/Owner

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When I applied for a refinance loan I was told I was getting a 30 year fixed mortgage over the phone. They sent me a good faith estimate email that I could never get open and when I told them I could not get it open they said it would all be explained at the closing. At the closing the loan ended up being a 2 year ARM at 7.65% and a 40 year pay back. I was in the middle of a Bankruptcy at the time and really needed the cash out so I signed the papers. The closing cost also was thousands more than I was told they would be.

Paul
Sebastian, Florida
U.S.A.

This report was posted on Ripoff Report on 1/8/2008 11:30:16 PM and is a permanent record located here: http://www.ripoffreport.com/mortgage-companies/new-century-mortgage/new-century-mortgage-company-m-cb2fj.htm.

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1Author 1Consumer 0Employee/Owner
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#1 Consumer Comment

Not the lender's fault

AUTHOR: Sportluva - Pittsburgh (U.S.A.)

SUBMITTED: Tuesday, January 22, 2008

You signed the papers, now it's your problem - not the lenders. This is not a rip-off, you had the right to walk away... next time try saving for a rainy day so you're not "forced" to take a loan that is risky.
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