• Report: #82247
Complaint Review:


  • Submitted: Sat, February 28, 2004
  • Updated: Sat, February 28, 2004

  • Reported By:Toluca Lake California
West Toluca Lake, California U.S.A.

ABN-AMRO Mortgage ripoff and unreasonable fees, I am still in shock!! Troy Michigan

REBUTTAL BOX™ | Respond to this Report! | Consumer Comment

What's this?
Corporate Advocacy Program

Show customers why they should trust your business over your competitors...

What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

Set the record straight:
Arbitration Program

SEO Reputation Management at its best!

My name is Larry. I have used ABN-AMRO Mortgage for my 2 last homes. In 1999, I used ABN-AMRO as suggested by my mortgage broker at the home I was living in at that time.
Because I only put down 10%, I was required to use their PMI.

After being with them for about 1 year, I paid them an additional amount of $40,000.00 making me way over the 20% required to not need PMI.

I then contacted them to get the PMI released and to my surprise, they had requirements. First, I needed to get an appraisal which would have been $400.00. Then, they wanted me to pay them a fee of about $600.00. (As I remember).

Most homeowners with PMI, know that each payment, they deduct a portion of the PMI money for themselves. Of course they wanted to make it difficult to drop it.

I then sold my home and bought a new home and to my surprise, my mortgage broker (same as last time) said the best rates were with ABN-AMRO. I was not concerned as on the new home, I made a down payment of about 40%. With this new loan I didn't need the PMI.

Recently, mortgage rates have dropped and my loan from 2002 was at 6.75%. I contacted ABN-AMRO to tell them I could get a loan at 5.5% and if they would lower my rate I would saty with them. They said; "This is our rate & if you don't like it go elsewhere" (as I remember)

The Icing on the cake was that when I went to sign the escrow papers, ABN-AMRO had charged me a fee of nearly $1000.00!! This was to pay off the loan which was unreal to me.

I called them to say after all of the business I gave them and with the first 3-7 years of a loan 90-95% is all interest and they had a lot of nerve.

I sent them an email telling them that I will tell everyone of my friends, business associates and realtors to NEVER use ABN-AMRO.

I am still in shock!!

Larry D. Ackerman

Toluca Lake, California

This report was posted on Ripoff Report on 02/28/2004 04:53 PM and is a permanent record located here: http://www.ripoffreport.com/reports/abn-amro/west-toluca-lake-california-91602/abn-amro-mortgage-ripoff-and-unreasonable-fees-i-am-still-in-shock-troy-michigan-82247. 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

Click Here to read other Ripoff Reports on ABN-AMRO

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?