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Report: #332030

Complaint Review: East Coast Mortgage Corp NJ, And Matthew Sura - Verona New Jersey

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  • Reported By: Homestead Florida
  • Author Confirmed What's this?
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  • East Coast Mortgage Corp NJ, And Matthew Sura 110 Fairview Ave Verona, New Jersey U.S.A.

East Coast Mortgage Corp NJ, Matthew Sura I was financially Raped by East Coast Mortgage and Matthew Sura Verona New Jersey

*Consumer Comment: Testimonial

*Consumer Comment: I refinanced with Matt Sura very positive experience

*Consumer Comment: mortgage closing

*REBUTTAL Individual responds: REBUTTLE

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East Coast Mortgage Ripped Me Off
I was Ripped offMatthew Sura financially raped me
I, Lillian Narvasa of Homestead, Florida, was ripped off by East Coast Mortgage Corp of Verona, N.J. and also by Mr. Matthew Sura. My loan has since been sold or transferred to Lenders First Choice of Frisco, Texas.

I need some help

I have created this internet site because I have no where else to turn to for help. I have reported my case to government agencies and to complaint bureaus. No one seems to take an interest in my plight and investigate these people.

I need some help

I hope this site will prevent others honest people from becoming financial victims of Matthew Sura and East Coast Mortgage Corp.

Mr. Matthew Sura consistently;
.... Lied to me.
.... Repeatedly financially raped me.
.... Tricked me.
.... Fooled me.
.... Took advantage of me.
.... Mis-led me.

Here is what went down.

Last summer, 2007, I was going through a bitter and nasty divorce.I applied with Matthew Sura and East Coast Mortgage Corp for a mortgage loan to pay out my ex husband.

He knew that I was desperate and weak minded and going through hell with my husband. My ex husband wanted $50,000 to settle the divorce. I was encouraged by Matthew, a real charmer, to borrow an additional $85,000 to pay off all of my ex husband's bills. The total loan was $195,145.14

My middle credit score was 671.

Matthew told me I was approved for a 30 year fixed rate mortgage loan at a rate of 5.2% without any prepayment penalty. He promised and assured me that my payments would be $1,071.58....I was very happy with those terms.

But ....

On the day of the closing and one hour before the appointment, Matthew called me and said he had just discovered that I had bad credit and that my loan terms were changed.
The new terms were going to be;
Rate: 12.274 %, 2 years prepayment penalty of $15,000 to refinance. And the loan was going to adjust in two years. The new payment was going to be $2,110.94

Then Matthew said, Don't worry, just close the loan and after you make a couple of payments, I'll streamlined your loan to a much lower rate.

He kept on saying the main thing was to get your ex husband off your property deed and out of your life for good. I felt for it.

I trusted him. He assured me that it would not be a problem to refinance my loan after only two monthly payments. That was the only reason I signed the papers and closed the mortgage loan with East Coast Mortgage Corp.

Now I am worst off than before.
Matthew now is saying that he never quoted me a lower rate or said that he would streamline my loan at a lower rate.

His supervisor or manager does not return any of my calls. I have repeatedly tried to call the president of the company and left messeges.

Now I am stuck with mortgage payments of $2,110.94 per month. I am using money from my retirement plan to pay for my mortgage.
I just don't know what else I can do?

East Coast Mortgage Corp
110 Fairview Ave
Verona, N.J. 07044
Ofc: 800-562-6786 (Matthew ex 234)
President Avelino Figuero
V.P. Carlos Figuero

Matthew Sura
Mortgage Consultant
Cell phone 908-380-0521
(Now owns my mortgage loan)
Lenders First Choice
3803 Parkwood Blvd, Ste 100
Frisco, TX 75034

866-775-3377

I can be contacted through this email address:

lill(((REDACTED FOR SECURITY PURPOSES)))
(this email address is being used for my protection)

Lillain
Homestead, Florida
U.S.A.
CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

This report was posted on Ripoff Report on 05/11/2008 05:51 PM and is a permanent record located here: https://www.ripoffreport.com/reports/east-coast-mortgage-corp-nj-and-matthew-sura/verona-new-jersey-07044/east-coast-mortgage-corp-nj-matthew-sura-i-was-financially-raped-by-east-coast-mortgage-a-332030. 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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REBUTTALS & REPLIES:
0Author
3Consumer
1Employee/Owner

#4 Consumer Comment

Testimonial

AUTHOR: Dom Kushner - (USA)

POSTED: Thursday, October 29, 2015

I actually was going online to see if I could put a positive testimonial for my loan officer Matthew Sura. I closed on a purchase of my first home this month and thought I should let him know how my experience was. Nothing negative. I got Matt's name from my sister who worked with him for her purchase last year that was also successful. 

Just from being from the area growing up, I have known mutual people that have gotten a mortgage from Matt. Everything went as I expected. Nothing changed. Will use him again when I buy another home one day. 

This "Rip Off Report" negative remark does not cover all the people I'm sure Matt has worked with that have positive things to say about their experience. I also took the time to read the rebuttal and the complainer does not mention the other side of the dime that Matt addressed.  

Can only speak for myself-and everything went to plan. Matt kept everyone under control when he did not have to. I've referred a co-worker and so far only good things to say about him too.  

Dom Kushner

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#3 Consumer Comment

I refinanced with Matt Sura very positive experience

AUTHOR: Justin - (United States of America)

POSTED: Tuesday, June 05, 2012

To whom it may concern,

I have recently dealt with Mr. Sura on a refinance. As someone who also deals with banks on a regular basis, unbeknownst to Mr. Sura, I found him to be completely honest and straightforward in all dealings. The negative review posted CLEARLY occurred at a time when the market made a turn for the worst. Something very similar happened to me when I took a home equity loan in 2007 and my house supposedly appraised for over $450,000. My house recently appraised for 80% of that value.

Matt was very helpful in ALL aspect of the transaction and walked me through each step. He understood my skepticism based on my dealings with Wells Fargo in 2007. I met Matt through a friend who also had nothing but good things to report. As far as I am concerned the author of the ripoff report was a victim of the mortgage industry at the time and not of Matt Sura.

I could sit here and type a long winded report about how Wells Fargo screwed me in 2007, but the fact is I needed the money desperately and didn't care about the rates because I, too, thought I would be able to refinance myself out of the bad situation in another year after my house increased in value another hundred thousand. Well that clearly didn't happen. Market crashed. Can't blame Matt Sura for the financial crisis. My experience with Matt Sura has been nothing but positive and I have already referred some people to him. Feel free to contact me if you have any questions.

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#2 Consumer Comment

mortgage closing

AUTHOR: Laurence Simmons - (United States of America)

POSTED: Friday, May 11, 2012

Bought my house with Matt in 2005. Refinanced with him this year too. Got his name from a friend originally. Everything went very well both times. Nothing changed. Don't know how much I believe this report.

Still talk to Matt from time to time.

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#1 REBUTTAL Individual responds

REBUTTLE

AUTHOR: Anonymous - (United States of America)

POSTED: Monday, October 17, 2011

Ms. Narvasa applied for a mortgage with East Coast Mortgage Corp. back in 2007.  The motive behind the refinance transaction was to refinance with cash proceeds to buy out her husband at the time; who was currently on the deed and mortgage. 

Since the mortgage was going to be under Ms. Narvasa's name only-she only qualified for a no income verification loan since the ex-husband was not going to be on the new mortgage Note, and his income was not to be considered as part of the new debt to income ratio for purposes of underwriting the new mortgage. 

I had absolutely no influence on the amount of monies that were discussed between both parties as a divorce buy out amount.  There was at least one attorney present at closing.  With legal representation, there is no way signatures would have been made unless both parties came to an agreement prior to settlement. 

In 2007, many lenders were exiting the wholesale business; yielding many changes in certain mortgage program availability.  Unfortunately, during the process of dealing with Ms. Narvasa--the majority of No Income Documentation products were discontinued in the midst of a credit crisis.

As unfavorable as the new terms were, Ms. Narvasa was explained thoroughly what she was now eligible for.  She opted to continue under her free will with absolutely no outside influence. 

Ms. Narvasa's middle credit score was 632 and did not qualify for a traditional income verifying mortgage.  After closing,  she was spoken to from several people in the company.  All calls were returned. 

As Ms. Narvasa's credit did improve after closing, East Coast Mortgage attempted to assist her to reduce the mortgage rate and payment.  Ms. Narvasa did not choose to do so, again under her free will.

No one lied or deceived Ms. Narvasa.  Unfortunately, she closed on a mortgage that she regrets and now is looking for people to blame. 

There is nothing in writing that I or my company would provide promising to reduce the mortgage payment as there are far too many mitigating factors that could deter that from happening post closing. 

East Coast Mortgage Corp. has an A+ rating with the Better Business Bureau. 



 

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