On November 3, 2010, I recieved a solicitation letter to refinance my residence that I thought was from my bank. I contacted the number and was directed to Brian J. Decker. In inquiring about refinancing my loan, I told Brian that I had a home equity line of credit (heloc) that I didn't want to lose. He told me I could subordinate the heioc loan as part of refinancing and he put that in writing.
Over the course of the work done to refinance, I never once waivered on my desire to subordinate the heloc. Then, on the eve of closing, Brian told me we could not subordinate the heloc. When I then told him I would not go forward with closing the loan, he told me he could get me a new heloc that was almost as good. My original heloc was at Prime minus 1.0%. He told me he could get me a new heloc for Prime minus 0.5%. Based on that statement, I went forward with the refinance and closed out the existing heloc. This was January, 2011.
During the next three months, I continually asked Brian to move forward with opening the new heloc. Brian delayed action on the heloc, saying things like "If you would like us to complete the equity line just shoot me an email. We probably have another 10 days before I can have the HOme Equity Department submit the file. (sic)" and he would "get back to you this afternoon on the HELOC. As we discussed on the equity line we are unable to begin the process until the loan has been transferred and the 1st payment has been made."
Finally, in late March, Brian admitted that City First did not provide HELOCs. In other words, too bad for me!!! Further attempts to get Brian to honor his promise were not successful. I even contacted his City First supervisor, Michael Koopman, to get help. After initially agreeing to look into the matter, Mr. Koopman failed to respond to me further.
Because of the fraud committed by Brian Decker and City First, I had to get another heloc at a much higher rate and have suffered economic damages as a result. I have filed a complaint in superior court so Brian will be accountable for this fraudulent conduct.