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Report: #91529

Complaint Review: City Mortgage Services - Nationwide

  • Submitted:
  • Updated:
  • Reported By: La Mesa California
  • Author Confirmed What's this?
  • Why?
  • City Mortgage Services 16980 Via Tazon # 270, San Diego, California 92127 Nationwide U.S.A.

City Mortgage Services ripoff Bait and switched a fixed 30 no penalty for variable prepay penalty San Diego California

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I specifically requested a fixed rate 30 yr mortgage with no prepayment penalty. I was assured this was possible (many times) and that it was in the works. I received a "good faith estimate" stating the terms I requested.

I then received another "good faith estimate" directly from the lender that stated a 2yr variable rate with a prepayment penalty. This occured after we were 20 days in escrow. I confronted city mortgage and the broker told me to ignore the lenders good faith estimate and that hers was correct.

A week before close, I am told by the broker that she made a mistake on the computer and that she marked the fixed rate box instead of the variable rate box, but said there was no prepayment penalty. A few days before close, I find out there is a prepayment penalty and the good faith estimate sent by the lender was true to the letter. I had no choice but to accept or be in default to the seller.

This is truely criminal. They should all go to jail.

La Mesa, California

This report was posted on Ripoff Report on 05/14/2004 06:41 PM and is a permanent record located here: 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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