ED Magedson – Founder
Lending Solutions inc.Internet United States of America
I was called by Eric Swann about a refinance on myprimary residence.He said he would lock me in at 3.75% for 30 yrs.I was warned by other mortgage companies that LSI could not do that rate when everybody else were at 4.50%.After numerousphone calls to Mr. Swann with no return calls I finally contacted Dave Lincoln a week later which he said everything was set.He sent me a lock in email which went right to my spam folder which I thought was unusual. All their emails go to my spam folder.I should have stopped It then but was assured everything was on schedule. I mentioned a line or credit I had on the property numerous times but was assured by Mr. Lincoln that we could close the account at closing.
Another 2 weeks go by I called Mr. Lincoln twice and finally he called back to apologize that he was sick a needed an appraisal. I toldthem that I did not want the appraisal knowing that the lock in period was about to expire in about 1 week.
I was again assured the closing would be done before the expiration and If not Iwould be refunded the $445.00.Two days prior to closing Mr.Lincoln said they had a problem with the line of credit documentation and said Eric Swann would call me back.
Finally the day of expiration Eric Swann calls back to offer me a 15yr. mortgage at a higher rate which I told him on day one That I was not interested.They had no intentions to sell me a 3.75% mortgage. They low balled the rate to get the customer in the door then they drag it on until it expires then they try to sell the customer a new mortgage at a higher rate.Now I am trying to get my $445.00 back!
This report was posted on Ripoff Report on 01/06/2011 03:53 PM and is a permanent record located here: http://www.ripoffreport.com/r/Lending-Solutions-inc/internet/Lending-Solutions-inc-LSI-Mortgage-plus-The-bait-and-switch-company-Internet-679649. 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.
Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
If you would like to see more Rip-off Reports on this company/individual, search here:Search Tips
In order to assure the best results in your search:
Advertisers above have met our
strict standards for business conduct.