MARYLAND -- We contacted Eric ** at LSI to do a simple refinance. We usually check reviews prior to doing business with a company as we did here. I emailed Eric about his reviews and he said that things were blown out of proportion and that he was one of the good guys. Luckily I saved all of my correspondence with him. The exact description that I just read was used against us. We had our appraisal done and we came in about $10,000 higher than he said we needed. Our credit is strong with no negatives on it so we figured that closing would be soon, wrong! I could not get a return call so I went over his head.
I was told that Eric was terminated due to unethical business practice and that Lawrence ** was going to be our contact. We started all over again and we were told that due to all of our problems that we had experienced that they were going to make it right. Wrong. We ended up resubmitted almost every form again and for the first time we had to show our S.S. Cards. I have never been asked for this when doing business or a loan. Well as of last night being that we started to question the numbers that were stated for settlement through Larry and his boss Mike **, when we questioned why they were higher than projected they I guess felt that we weren't going to bite.
I contacted Amerisave and Rich ** and in 45 minutes we were done with the application and had locked in at a very good rate with no problems or headaches!! Always do some research prior to using these outfits. There are good ones as well as the LSI'S of the world. Again be safe. Money does not go as far as it used to so??? Who has your best interest in mind? It is a business but it should be fair to both the company and the consumer!!
ATLANTA, GEORGIA -- I have excellent credit and work for the #2 company in the world. Eric quoted me a 2.3% 10-year term on a good faith estimate. He drug the process out until the ending day of the GFE expired. I knew the value of my home would appraise for the estimated value I put in the application, and I was spot on. They try to undervalue your home, forcing you into a larger interest rate and causing you to pay PMI every month. I told him I did not want to pay for an appraisal unless he guaranteed that he could follow through on his end. He said "Sir I'm waiting on you, I can close with everything I quoted you."
He WOULD NOT return any phone calls. He knew I was beyond qualified for this loan and he COULD NOT keep his end of the agreement because he lied. That's why he wouldn't return my calls or emails. This company simply lies to get you in the door, then you pay the $500 appraisal fee and BAM they tell you, you only qualify for higher interest loan. SORRY! On the day of the closing the paperwork told a different story than Eric. Interest rate showed 3.7%, not the 2.3% he promised and the payment was $201.73 MORE than the GFE! Please DO NOT use LSI!! You'll be glad you didn't. :)
Please beware of LSI Mortgage. A representative from this company left me a voice mail message claiming he was a consumer advocate. He stated that my mortgage was a predator mortgage and the company had filed for bankruptcy. He stated he had to discuss the implications with me. I immediately contacted my mortgage company and found this was totally untrue. When I spoke with the representative, he was referring to a mortgage I no longer had. When I informed him of this, he became argumentative. This is nothing more than a company trying to take advantage of the country's current economic problems.