- Report: #1037282
Report - Rebuttal - Arbitrate
Complaint Review: LoanDepot.com
LoanDepot.com26642 Towne Centre Drive Foothill Ranch, CA 92610 Foothill Ranch, California United States of America
LoanDepot.com Gave every indication we were approved for a home loan; cancelled approval 10 days prior to closing. Foothill Ranch, California
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Here we are, 10 days prior to closing. After paying $500 for a home inspection, $200 for a septic inspection, $450 for a LoanDepot-ordered appraisal, and $2500 for an earnest money deposit, I received a call from Jesse Smith (manager) on 3/22 (16 days prior to a closing date we were already given) only to be told that our loan was cancelled because of my husband's pay being commission-only based! Again, Loan Depot--and particularly Doug Bontemps--knew from the very beginning that my husband's pay was commission-based.
This would have been the 7th home in our lifetime that we've purchased since 1995.
This is the first and only time we have EVER been refused a mortgage.
This report was posted on Ripoff Report on 03/23/2013 03:59 AM and is a permanent record located here: http://www.ripoffreport.com/r/LoanDepotcom/Foothill-Ranch-California-92610/LoanDepotcom-Gave-every-indication-we-were-approved-for-a-home-loan-cancelled-approval-1037282. 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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