Arbor Mortgage-Flagstar Bank I thought all Sharks were Lawyers but these guys ate the cake-Be afraid be very afraid. Troytroy-Grand Rapids-Battle Creek Michigan

Here we go about a year we tried in vain to get a loan for the home we had been renting for a year. The owners were out of state and wanted to sell, I saw more than a few thousand slick Arbor Mortgage ads on TV. So I gave them a call, got pre-approved for a mortgage loan. The owner was asking a $158,000, a appraiser hired and paid for by Arbor came out from Grand Rapids and looked at the house. We then heard back from Arbor mortgage (forgive the name of agent with Arbor escapes me it was over a year ago), but the said the house was worth exactly $148,000. I asked how much is that going to cost me a month? Well he said $900-$1000 a month maybe a little more. Got a good faith estimate for that ammount.

Ok we go through the dances with Arbor waiting and hearing nothing, calling them and getting answers, but not good ones. Well we need more paperwork, and the more important one we need more money. In fact 5 days before closing we had to come up with $5000.00 dollars or the loan would fall through. We managed it placing everything we had on this not breaking the bank.

Went to the signing with our additional $500 for the title companys fees, at the table the good faith estimate had changed from the one we wre mailed. The payments went from $1000.00 to $1,487.00. We said holy cow we cant make that payment, it was way too much. Well the Arbor guy and the title person pressured us to sign and said the house isnt homesteaded, once you do that taxes come down and so will your payment. Like morons we signed and left feeling like we had just been robbed.

3 weeks later we go to the county and get homesteaded they reduced the taxes almost $300.00 dollars. But Flagstar reduced our mortgage by $8 dollars, saying they needed a cushion on that money in case the taxes flucuated. Now we were really hosed, we could barely make the payrments from month to month.

Then my son decided to return home to my ex-wife, this meant she couldnt afford to spend more out of her pocket but wanted money from mine. So I got hit with child support, now I dont mind paying for my kids but.. When your ex-wife has 5 kids 2 are yours, 2 belong to a second husband who is in jail for child abuse, and one is from a married man. Why should she be allowed to raise kids?( And please dont ask why I didnt take her to court; because New York has the worst judges on earth, I am very lucky I am not living under a bridge because of them).

Well the child support payment broke the bank we couldnt make any bills after that, I asked and asked Flagstar to reduce the payment so I can keep my house, hell tie everything I owe you back into a new mortgae just let me make payments I can afford they said NO deal. We called there loss mitigation dept several times for the agent we had assigned to us he never returned our calls. And now here we are trying to short sale a home that isnt even worth the $128,900.00 we have it listed for. Our credit is shot from the late payments both Trottt & Trott and Flagstar and Arbor Mortgage could care less.

If you trust Arbor Mortgage DONT they will screw you, all they care about is your money listen to these words.
Also Flagstar bank members and shareholders, how does it feel sleeping when your putting people on the street? How do you sleep at night when Flagstar works with corrupt companies like Arbor and rips people off?

Jim
battle creek, Michigan
U.S.A.