Merit Lending.com ripoff! Liars! Predatory practices! Costa Mesa California

Mike,
Good for you. Reading a customer complaint its easy to believe that the company did something wrong. Being in the industry myself, many customers are unhappy with final terms due to underwriting approval and conditions. Borrowers just dont understand or want to understand.

Nine times out of ten, a company can AFFORD to make a borrower happy but business is business and it sounds like you made an excellent point! A customer is NEVER forced to sign papers or agree to the final terms....EVER!

Customers should be specific on filing their complaint. Tell the whole story. Chronological order of everything that transpired, credit scores, loan amount, value of property, income...maybe more people would understand how challenging the mortgage business can be to really give someone what they WANT versus what they get based on the above criteria.

There are 3 sides to a story. The "victim", the "villian" and the "verifiable truth" especially in something as detailed as a loan.

These claims of "predatory lending", verbal agreements etc are false. The home lending business is one of the most heavily regulated industries in the U.S. The whole point of the masses of paperwork the borrower's are required to sign is to PREVENT misunderstandings. I reviewed the documents, every debt the lender required this borrower to pay off to obtain the loan was 1) disclosed up front and 2) paid as agreed. The borrowers sign multiple disclosures laying out EVERY PENNY of where their money is applied. Its unfortunate that the borrowers can't always qualify for the exact terms they'd like, but when you have problems paying your bills on time, lenders are a little more picky on how to structure a loan they are giving you. In addition to the many disclosures that this borrower signed there was a right to cancel with no cost or obligation. She obviously felt the loan provided some benefit or she would have cancelled. This is akin to a poor attempt to eat a meal at a fancy restaurant then "find a hair" in it at the end and try to get the manager to pick up the tab. Better luck next time.