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Update by user May 15, 2021
I finally received my escrow, however, it appears to be short. So, I see another fight.
*Why can't they just do the right thing once.*It's bad enough they gave the wrong closing statement that was false, and the day of closing we had all the papers ready so I ended up financing a much higher amount. *Means I am paying more per month than I have to.*And what can you do to earn some money on the excess that was finally returned to me. BUT IT WAS A HASSEL. * THE TITLE COMPANY CLOSED PRIOR TO OUR CLOSING AND THE FUNDS WERE GOING TO THE TITLE COMPANY TO DISBURSE TO ME.
BUT, UNFORTUNATELY, THE OWNER HAD TO HAVE MAJOR SURGERY.i don't know who gives it great remarks. It boggles the mind that I told them to give me their best rate as I would be checking with local mortgage companies.They said if you find it cheaper, we will match. S U R E !!FIRST: If another company immediately gives you a rate 1/2 (0i.5) point or % less, why would I go back to them.Closing costs were thousands less.When I called the loan officer and explained this to him.... he got pissy.I merely said you had a chance 4 years ago and played games, and you blew it again and you could learn if you listened.
He was nasty!!!Unprofessional company. In my life, I've had a few homes and mortgages and refi's and never had such horrible experiences.THEY WERE MY MORTGAGE CO. ONLY BECAUSE THEY BOUGHT IT FROM ANOTHER COMPANY TO SERVICE.D O N O T U S E T H I S C O M P A N Y ... ITS NOTHING BUT A HEADACHE.============EXAMPLE.
They held onto my excess escrow payments which were betw. $2,000 and $3,500 each of the last few years ... and only released the funds to me the end of October each year. Take this time all the other mortgages and think how much they have earned on OUR MONEY.
Did they pass the interest they earned onto me. No.!!!!
Update by user Apr 15, 2021
I just refinanced with another company.They issued a payoff statement that was off by $6,000 short.I closed 4/5/21 and it is now 4/15/21 and my $6000.00 has not been received.They also owe approximately $2400 in excess escrow payments which they typically hold on to until Oct. 29.
Think of all the interest and investments they are earning using our money. Mortgage co's typically issue any excess escrow funds the end of Januaary of the following year. No amount of pleading gets you your money. Now that I've refinanced, I have been told they are being sold either 4.16 or 4.17.2021.
I see a big hassle in getting my escrow back.
Law says must be returned in 30 days. If they are sold, I know it will not happen and I am upset.
Original review posted by user Apr 15, 2021
Freedom mortgage 4 years ago was going to refinance my mortgage which they held. Three mo.
later the still could not close and they wanted to do a 90 day mortgage at a higher rate, and after 90 days would do a 30 yr. fixed at a slightly lower rate. I decided to do it. However, they lost the papers, everyone was so upset that they said pls.
go somewhere local. Now i just refinanced with a local co. and I am told they are being sold April 16. They still have my escrow and they gave wrong closing statement, 1 day before closing a new one was issued, and they owed me $6,000 and almost $3000 Escrow.
This is a mess. Plus I asked for their best rate and they were 2.5 points higher than anyone.
User's recommendation: If they remain in bus., RUN, DON'T WALK.
Product or Service Mentioned: Freedom Mortgage Loan.
Monetary Loss: $2400.
Preferred solution: I closed with a local company and I want my escrow. However, if it is true they are being sold, it will be a mess. N O T E: They hold excess escrow funds until Oct. 29 of each year. No exceptions. Think of interest they are making..
Freedom Mortgage Pros: Should be investigated for mortgage fraud.
Freedom Mortgage Cons: Keeps escrow excess, Incompetent, Incompetent knowledge base, Smug supervisor, Delays.