Elend - Run Away!
I gave this company a chance to refinance my existing loan versus going with another lender only because they offered a slightly better deal. Everything looked great and the entire refinance should have been straight forward considering it was a HARP loan.
Towards the end of the loan process, they sent me an email with 10 stipulations. One of them requiring me to have over $15,000 of cash reserves. Where did this come from? None of these stipulations, including the cash reserves, was mentioned to me through the entire application process.
I have confirmed that the HARP does not require deep digging of my current situation and it especially does not require cash reserves.
Upon finding this out, I canceled my loan application with them and moved forward with reputable company to refinance my loan. I would like to note that the other lender didn't surprise me with a cash reserves stipulation or any other that I felt was unrealistic.
Lesson learned - not doing business with this company again.
Reason of review: Problems with payment.
Location: Littleton, Colorado
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