I can't say how foolish I feel at the moment, especially after reading the rip-off reports on Option Mortgage. Had I only read them before signing with Option Mortgage I would have saved myself a great deal of heart ache.
Kevin Cole phoned me at home one evening and told me that I was eligible to refinance my home and because he also worked for citi-Bank (my existing mortgage company) the loan would cost me nothing except $350.00 for the appraiser. I currently had a 5.89% and he was lowering it to 5.25%. On the day that the notary, Arax Saxon was to come to my home for the signing I received a call from Greg. He said that I needed a credit score of 680 for 12 months and because I only had it for 8 months my first 4 payments would be at an interest rate of 7.125%. He assured me that on month/payment 5 my interest rate would drop to the promised 5.25%. I was leery but agreed, since it was for only 4 months. I phoned Arax Saxon to make the appointment, she wanted to meet with me at 11PM!! Said that the traffic would be better than for her, I was more than welcome to get some sleep and she would just wake me by phone 10 minutes before she was to arrive. I told her "no way, if she could not make it during the day I would just use a local notary". She agreed & set the appointment for 5pm.I called my boyfriend and asked him to also be present as a witness because I just did not get any trustworthy feelings from her.
They both arrived on time, and she and I began looking over the paperwork before me. I stopped her on a number of discrepancies which she could not answer, therefore we called Greg with Option Mortgage and put him on speaker phone so everyone could hear both sides of the conversation.
#1. The DOC's listed the entire interest rate at 7.125%, never indicating an adjustment after the first 4 payments. Greg explained that I needed to sign the papers with the notary, have her drop them off with him that evening and that he would "over night" me an amendment with the promised interest rate of 5.25% the very next day. Since it was Thurs. I would not receive the "over night" package until Monday.
#2. My first house payment was not to me due for 2 months, the Doc'c had my first payment due in 1 month. I was told that the escrow company would reimburse my October payment which I had already made.
#3. Kevin told me that I would pay nothing for the refinance, with the exception of the appraiser and the Doc's had in access of $6,000 in fees. Greg promised me that I would receive all of the $6,000+ dollars, they were
built into the paperwork as a buffer, but were not needed.
I had my doubts, but signed anyway, knowing that I had 3 days in which to cancel. Arax (notary) told me that she had been working for this company for 6 years and if they promised something they would indeed deliver. She reassured me that everything was going to be handled exactly as I was promised. I now know that she too is knowledge as too, if not directly connected with Option Mortgage's dishonest business practices. She left my home so fast we hardly saw her leave.
On Monday when the "over night" package did not arrive I called Greg and was told that he was not available. I told the receptionist that she had better get me someone on the phone or else I would be faxing my cancellation immediately.
That is when David Lucas entered the picture. "Branch Manager" he called himself. He told me not to fax over the cancellation papers because he would personally "over night" the amendment to me and I would have it Wed or Thurs. Like a fool I believed him and like his nature he never sent the amendment.
I phoned David Lucas on Thursday afternoon and he told me that he personally sent the package, overnight, DHL, and that I would have it in my hands the very next day. He told me to call him Friday afternoon as soon as the amendment arrived and we would go over it. Of course it did not come on Friday as promised, I called the office all afternoon, no answer.
Monday morning I phoned again and the receptionist told me that the office is closed on Friday afternoons. I asked to speak with Greg and David's boss and I was given Rowland. After 3 calls to him I was finally able to get him on the phone, he promised to talk with all parties concerned and he would call me back the very next day at 3:30pm. Guess what 3:30pm came and went, I called Rowland and was told that he had left hours earlier. Two days later he called me to say that he had not yet spoken to everyone involved and would call me the very next day. (Friday, November 7,2008) To date he has not called or "been available" each day that I call his office.
I spoke briefly to Kevin on November 7th and reconfirmed everything with him, regarding the promised interest rate, the 2 month's without a house payment and the promise that I would not have any fee's attached with this loan. He told me that there had to be some mistake, everything that he told me should have been carried out and that he would pull my file, review it and call me on Monday. Whenever I call he too is "unavailable".
I have reported them to Citi-Bank, who is trying like hell to fix this for me. Still waiting on a positive outcome. I have spoken with the "Office Of The Comptroller" in San Francisco, they are filing a claim with the FCC against Option Mortgage on my behalf, their paper work arrived in the mail today. I have contacted a lawyer in regards to getting back the monies that they literally stole from me. (buffer...) I am filing a report with the Better Business Bureau and don't intend to stop there. If I do not receive justice from Option Mortgage I will contact 60 minutes and have their company investigated on air.
If and when that time comes I would be more than happy to include everyone that they have purposely screwed, a class action suit sounds good to me.
I also intend to file charges against them with the attorney general's office and personally attack their individual licenses.
Rose in ridgecrest