Loan Depot Called saying they could save over $100 a month on house loan - then kept changing terms and charged $400 for appraisal, then changed terms again to where I would have paid more to get thair loan. Newark NJ

They called me numerous times promising to get my mortgage lowered by over a hundred dollars a month. After 9 calls from them over 3 months, I let them get me info. Started with great terms, saving the money and no cash out of pocket, etc. Then they started changing terms every time I talked to them.

Yes these were "estimates" but after getting initial numbers they charged over $400 in fees for appraisal and paperwork. Then the terms changed severely from what they originally promised. Specifically Eric "salesman", said "As long as your house appraises for at least $125,000 we can do the loan as originally stated". Great! so knowing my house is worth closer to $140,000, I paid them the money.

The appraisal came back at $136,000. Then they come back saying the house need to appraised for $150,00 to do the loan. They say their conversations are recorded, so I asked them to play recording to prove he told me $125 not $150, but they said they don't release recording to public.

Now they are up to needing $3000 cash and my interest - which is 4.25 with current lender - would be 4.75 and only save me $16 a month with a variable rate loan when the original loan was supposed to be 30 year fixed. I believe they are pulling bait and switch tactics to get people pulled in and get them to be confused and end up getting ripped off.

I want my $400 back!