Houston Capital Mortgage Complaint - Do Not Trust Houston Capital Mortgage!!!!!!

Review by StyxTx20 on 2009-07-28
HOUSTON, TEXAS -- We are STILL trying to close our refinance loan after 3 months. They have lied to us about interest rates, closing dates, etc. etc. They lost our file and made us sign things at LEAST 3 different times. They are incompetent and RUDE and nobody seems to care. After you are out $395 for your appraisal and credit report and are 60 days into the process, they upcharge you 60% from what is on your Good Faith Estimate and want you to sign their "revised" HUD with new prices.

They get you by the cojones because you are so exasperated you just want to close already. Avoid at all cost.
Company Response on 09/15/2009:
This client encountered some issues during their refinance process, due to the uniqueness of their transaction. Although the process did take longer than normal; their loan did close with the costs as quoted.

Our management and staff worked very diligently with this couple for months to close this transaction for the sake of all involved !

This is a diffcult lending environment, and we continuously worked through the obstacles at hand to get this done for them. We never threw in the towel, as our goal was to make this happen.
Company Response on 02/05/2012:
We worked diligently to resolve your lending issues. Unfortunately, yours was a unique situation that required restructuring to facilitate obtaining financing.

Although it took longer than anyone desired, we resolved the problems at hand so you were able to close on your home loan. We did not change any of our fees, only those to match required terms for your loan.

We appreciated you bringing the problem to our attention so we could rectify it.

Thank you
Stacy G London
Comments:3 Replies - Latest reply on 2009-07-29
Posted by azspots on 2009-07-29:
Tell them to take their 60% upcharge on the Good Faith estimate and place it where there is no sun.

Find a competent refinance company/bank and move on.

The appraisal should be good for 90 days-6 months, depending.
Posted by StyxTx20 on 2009-07-29:
Thanks for the input but a guy I know in the mortage industry said that due to the Obama administration's new policies, appraisals could no longer be transferred by paying a fee to change the name of the mortgage company... An entirely new appraisal would have to be done. In his estimation, that would cost about $600 (even though my original only cost $325). My contact also said that after July 31st, the Good Faith Estimate's closing costs must match the HUD's. So if this thing doesn't close in the next few days, the 60% fee increase might be a moot point. Would love to start over with someone new but I'm about to have a baby any day now, have had major complications during my pregnancy, and am trying to get this money to complete a remodel on our new home so we can get moved in. We were hoping to be done before baby came, but due to their ineptitude, that's not gonna happen now.
Posted by Pepper on 2009-07-29:
sounds like the administrations 'fixes' are just screwing things up

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