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  • Report: #872008

Complaint Review: LSI Mortage Plus

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  • Submitted: Sun, April 22, 2012
  • Updated: Sun, April 22, 2012

  • Reported By: honeychile — Missouri United States of America
LSI Mortage Plus
11885 Lackland Road st. louis, Missouri United States of America

LSI Mortage Plus Lending Solutions Inc. Beware of hard pressure sales and unfulfilled promises - these guys are slick! st. louis, Missouri

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i was curious to see if i could save some money on my mortage, and hadn't planned on refinancing unless it made good financial sense, as i was comfortable in the mortage i had.
None of the scenarios James, the finance manager proposed to me seemed like good options but he was relentless in his attempts to get me to refinance.    Long story short, i was pressured into a cash out refinance with the promise that i would only be in this loan for 4 months.  The loan payment was over $400.00 more than my current payment and included PMI which i didn't have before.  I told him i couldn't afford the higher monthly payment and he assured me that if i paid off my credit card debt with the cash out, my credit score would immediately go up and i would be able to do a streamline refi in 4 months at an even lower interest rate and eliminate the PMI.   I should have walked when i couldn't get him to put this in writing, but i took his word for it (my bad).  

Needless to say, when 4 months rolled around i was unable to get James to answer my calls or emails.   I left messages with everyone, including the president of the company.  When James finally emailed me back, his email was very accusatory and defensive ("I never told you that!")

Every dime i earn is now going towards this mortage, and i must consider it a lesson learned and move on.  I would just like others to be aware of this company's unsavory business practices.  

This report was posted on Ripoff Report on 04/22/2012 07:12 AM and is a permanent record located here: http://www.ripoffreport.com/r/LSI-Mortage-Plus/st-louis-Missouri-63146/LSI-Mortage-Plus-Lending-Solutions-Inc-Beware-of-hard-pressure-sales-and-unfulfilled-prom-872008. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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