Alpine Mortgage Alpine Lending - Mortgage Alpine Lending Mortgage Fraudulent Practices & Exploit Consumers! Eden Prairie Minnesota

In 2003 my boyfriend and I purchased our first home, our mortgage broker was Alpine Lending/Mortgage. We utilized all their services because they told us it was cheaper than most places (i.e. appraiser services, title, closing, etc.). We paid close to $5000 at closing (some fees are unexplainable when i look over it now).

It is now 2005 and were looking to sell our house. After interviewing several realtors, it dawned on us that our house's market value is significantly less than what we initially thought.

We figure after two years of living here that maybe the house have appreciated in value when in fact, it has gone down in value? How is this?

Well.. after digging deeper into this issue, we realized that the appraisal on our home was WAY OFF! The units the appraiser compared our house to had more square footage/bedrooms/bathrooms/etc.

Looking more into the situation, we realized that that we had been had; the appraisal was just the beginning of the whole expolited expereince.

Were frustrated and angry that this could happen to us. We trusted the lender, appraisal company (state certified people!!!), and the bank. We thought they work in our best interest.

Thinking back now, I didn't realize how much game Alpine got going with us. Stuff such as:
- calling at odd hours with our loan application status (i.e. around 9pm to give us loan status) or
- using scare tactics with us at the last minute before closing (i.e. calling us at the last minute saying that the bank had changed its mind with the low interest they first initially offered and is now giving us a great deal with a 12%, when we declined, the bank came back with an 8%. We thought it was GREAT!!! How stupid of us, at that time, interest rates were 4-5%).
- our lender gave us the "stupid look" when we asked for clarification regarding some industry jargon and giving us stupid complicated answers in return
- our lender also "hinted" us at some stuff like borrowing more than what we could afford so we can furnish our home, etc and then winked at us and told us that we didn't hear it from her, etc.

If we were to sell our house now, we lose close to $30,000 (maybe more?) from what the house initially appraised at. I'm very frustrated.

Has anyone had similar situation or experience? Or works for Alpine and is aware of these tactics.

Avoid brokers at all cost (esp. Alpine!!), the rates are ridiculously high and there is more room for these businesses to take advantage of inexperienced consumers.

O
Chaska, Minnesota
U.S.A.