Report: #224596

Complaint Review: CHAMPION MORTGAGE

  • Submitted: Sun, December 10, 2006
  • Updated: Sun, December 10, 2006
  • Reported By: Rochdale Village New York
  • CHAMPION MORTGAGE
    Two Gatehall Drive
    Parsippany, New Jersey
    U.S.A.
  • Phone: 800-242-6746
  • Web:
  • Category: Loans

CHAMPION MORTGAGE CHAMPION DOES NOT SAY YES. IT SAYS MAYBE Ripoff Parsippany New Jersey

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I applied through Lending Tree for a home equity loan. I received three offers, among them, Champion Mortgage. I was half way through the loan process with Home Loan Bank when Steven Epstein of Champion Mortgage called me. He asked me what my home was valued and I told him $385,000. He did an 'online' appraisal and then told me that my house was worth $460,000. I accepted his word and we began the loan process. When my house was appraised by the appraiser sent by Champiom Mortgage, it was valued at $380,000. After a week of not hearing from Mr., Epstein and several phone calls and email to him, I was finally spoke to him and was told that because my home was valued at 'only' $380,000, the loan had to be cancelled; that Champion Mortgage could do nothing for me. He deliberately overvalued my home by telling me it was worth $460,000 and when it was valued at a much lower price, Champion Mortgage left me hanging. Because it was a home equity loan to consolidate my bills and I was assured by Mr. Epstein that it was going to be approved, I placed paying my bills on hold only to be left with the bills running 30 days late. Don't be misled by 'sweet' offers from Champion Mortgage. I should have gone with Home Loan Bank.

joyce
Rochdale Village, New York
U.S.A.
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This report was posted on Ripoff Report on 12/10/2006 08:04 AM and is a permanent record located here: http://www.ripoffreport.com/reports/champion-mortgage/parsippany-new-jersey-07054/champion-mortgage-champion-does-not-say-yes-it-says-maybe-ripoff-parsippany-new-jersey-224596. 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

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