ED Magedson – Founder
Loan Depot Loandepot.com email@example.com Ripoff Internet
I started my process with loan depot to purchase a home and I was very skeptical because I read some bad reviews but there were also good ones. I was promised a fast closing process and told by my loan officer Michael F. and given a great deal of conflicting information by him. Then I started getting calls by an Elysa M. who stated she was taking over my account and handling things from there. She would basically contradict the previous rep. The bottom line is I was told we could close by a certain date...I took off work only to find that the account had not been finalized. I spent countless dollars faxing documents sometimes repeatedly and finally I felt I wanted out of the loan due to all the inconsistencies and the time it took for the process. I was told by Michael F. that I could get a refund in the beginning as well as in the end and now they say because I am pulling out of the loan and won't send them any further documents after I have sent them pages and pages of faxes now I am not eligible for a refund. So the moral of the story is keep your $495.00 in your pocket and go with a more reputable loan company.
This report was posted on Ripoff Report on 04/18/2014 06:47 AM and is a permanent record located here: http://www.ripoffreport.com/r/Loan-Depot/internet/Loan-Depot-Loandepotcom-mfriedhoffloandepotcom-Ripoff-Internet-1139845. 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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