- Report: #460610
Report - Rebuttal - Arbitrate
Complaint Review: Shore Mortgage
Shore Mortgage770 South Adams Rd. 800 Birmingham, Michigan U.S.A.
Shore Mortgage Delayed processing application untill rate lock expired Birmingham Michigan
*Author of original report: Shore Mortgage fixed it
*Consumer Comment: shore mortgage fixed the priblem
*UPDATE Employee: Just saw this
I e-mail him 6/08/09 asking him "whats going on with the closing"
I get an e-mail back saying "I will be out of the office from Thursday June 4th, returning Wednesday June 10th. I will be checking my e-mails periodically and will get back with you as soon as possible. Thank you" .
I get an e-mail today from him "Mr. Beebe, sorry for the delay. I just reviewed your file with the processors and they are just updating your payoffs to get prepared for our clear to close from underwriting. The only issue I see is that your rate lock had expired last month. Rates unfortunately have gotten worse since then and I wanted to make you aware. I know we were looking at a 4.5 on a 15 year, but at this point it would cost more than it is worth to get to 4.5. I think the best rate/cost combination for you is going to be the 5.0% rate based on the 15 year mortgage. Since we are keeping you under 90% loan to value, you will not have any monthly mortgage insurance, which will definitely add on to the savings. Please let me know how you would like to proceed. Thank you.
I responded "Not interested, and it seems rather funny that the delay was the result of your company's incompetence. For the point of argument, when did the rate lock expire? Can I get a copy of my appraisal that I for all practical purposes paid for? Are there any governmental agencies that watch over mortgage companies that I could file a complaint with?"
This report was posted on Ripoff Report on 06/11/2009 06:14 AM and is a permanent record located here: http://www.ripoffreport.com/r/Shore-Mortgage/Birmingham-Michigan-48009/Shore-Mortgage-Delayed-processing-application-untill-rate-lock-expired-Birmingham-Michigan-460610. 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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