Complaint / review / scam report
Amerisave Mortgage Corporation
I applied for a loan with Amerisave and, over the cours...

Complaint / review text:
I applied for a loan with Amerisave and, over the course of about 5 weeks, sent them all of the information and documents they requested, which amounted to over 60 documents and 300 pages. Then I finally received the word that it was time to schedule an appraiser and lock-in my interest rate. At this point I received a message stating that the value of the appraisal would be used "to grant final approval to close your loan". I took this to mean that if the appraisal was of sufficient value and a good appraisal in all other respects then my loan would be approved.

When the appraisal came back it was above the amount expected and a good appraisal in all respects, however, a few days later the loan was denied due to "excessive obligations in relation to income". I believe I should have been informed, before I wasted money on the appraisal, that there were other issues with my income or obligations. It was only after I had locked in my rate and spent the money on the appraisal that they told me that I was within 1% of missing the necessary ratio for income versus expenses. Therefore, I requested a refund of my appraisal fee.

Contact information:
Author: Contact with Author


Offender: Amerisave Mortgage Corporation

Country: USA   State: Georgia   City: Atlanta   Zip: 30305
Address: 3525 Piedmont Road NE, Building 8 - Suite 600
Phone: 8552592431
Site: amerisave.com

Category: Business & Finance

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