Amerisave Mortgage Corporation Complete Scam, Lowball Appraisal, Requested the same documents several times. Atlanta, Georgia

The reason I applied for the loan was to pay off the Home Equity Loan I have on my Texas House (which is approx. $31,000.00). The interest rate on that house is 6.5%.

I own two houses.   I applied for a loan on my Florida home.
My house is on a lake, I have a fenced in deck, a dock, and is in very good condition.  The apprisal based his report on several other homes in the area that are run down, not on the water and have no redeeming features.

They appraised my house for $80,000.00.  One house in the same street, that is not on the water and is in very bad condition, sold for $86,000.00.  Another around the corner, not on the water, sold for $126,000.

I  signed all documents required by the company and mailed them to them   Howevr. even though Mike McCone acknowledged receipt of the documents, several weeks later, I was requested to sign and send them again.  I complied.  In addition, additional documents were required, which I also sent.

Mike advised me my loan was denied because of the low appraisal,   I had applied for a $50,000.00 loan.

Thereafter, Mike contacted me again and told me he was resubmitting my application and once again, I was asked to send the same documents.  I complied.  I was told nothing else would be required.

After much harassing and badgering for additional documents,  I was advised that my loan was denied because of the high obligations on my Texas house.

My Texas house is rented on a yearly basis.  The home equity loan on the Texas house is why I wanted to refinance.  There is no lien on my Florida home.  My credit rating was over 800, I pay all my bills in full and before they are due.   I maintain a large balance in my checking account at all times, and I have some money with a financial adviser.  

I have more than enough assets, and excellent credit rating, and fail to see why my loan should be denied.





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