It's pretty simple. I refinanced with them to save my home, and now, I almost lost my home twice. I also have been switched around to a bunch of servicing companies.
Consumer Complaints & Reviews
My wife Susan and I refinanced our mortgage with a cash out. When several checks(7) were made out to collection agencies that I, or Susan never heard of, and we contacted Kim and Joe, we were told that they probably would be contacting us and at that time to get there address and send checks to them. Time had gone by, we never heard from any of these "so-called" collection agencies. When we call Castle Point they said they would look into it, but never heard back from them. It is now almost 2 years later,I understand Castle Point Mortgage is now out of business, and we are left with $3001 worth of checks, that should have been made out directly to us.I think the government has to tighten up on what mortgage companies can or can't do.
My wife and I were contacted by Castle Point Mortgage after submitting a request to Lendingtree.com. We owned our home outright, with no mortgage attached. We wanted to take out some of our equity to close out other debts that we had, including some minor collections left-over from college.
When Castle Point contacted us, they explained that it would be "easy" to take a relatively small amount of equity from our home. At the time our home was valued around $365k and we were looking to take approximately 120k from that.After a literal mountain of paperwork being sent, me proving everything from my employment status to my college education status, we were told that the loan had been approved for under-writing.
The caveat - the loan would be initially inked @ 8% fixed/30-years. This outrageous rate was explained to me as a stip/requirement for the loan to be underwritten, because of the delinquencies I had from my college years. (Some of these debts were 7 and 10yrs old that they said required the stip.)Matt/Castle Point then promised me that within six months they would be able to come back, with my improved FICO score, and get the loan down into the mid 5's or low 6's for interest.
Although the 8% interest rate was absolutely rediculous in my mind, the promise of a lucrative re-fi 6-months down the road seemed acceptable. Paying a premium to get your credit in-shape seemed a reasonable penalty for not taking care of my own finances during college. After a long discussion, my wife and I took the bait and agreed to the loan.Having never needed a mortgage before in my life, I had no idea that you could be promised everything under the sun, and delivered nothing, or worse than nothing.
Payments including tax, HOA, insurance, and mrtg. payment totaled over $2,100 monthly. This is almost half of my net take-home pay. The only thing that kept us going through the entire closing process, was the fact that a light at the end of the tunnel existed, which was the promise of a re-fi to a lower interest rate, making payments more reasonable.
We are now at our one-year anniversary since engaging with Castle Point Mortgage. After about six or seven months, and not hearing ANYTHING back from them, I decided to call their office. I called our broker first on his direct-dial. A voice-mail greeting answered explaining that he was 'out of the office on a serious family emergency' and he had no idea when he would be returning. He did give a directive to contact his boss, at a diff. number.
I contacted his boss and left a voicemail explaining that I hadn't heard anything, the payments were becoming unmanagable, and that we needed to move on our re-fi actions.
I got a call about 2 weeks after that voicemail explaining that Matt was no longer with the company, but they would get on our refi immediately.
Two weeks later I called again, this time I got a much diff. auto-attendant greeting when the number first answered, and then I couldn't find ANYONE in their dial-by-name directory. Trying to zero-out to an operator left me in an endless loop of ringing.I did some Internet research to find out, thanks to the implode-o-meter, that Castle Point Mortgage was officially shut-down by the FBI in June of 2007.
They had been under investigation the ENTIRE time I was going through my loan process. They were the typical predatory lender, with sub-prime lending practices.Now, a year later, my credit is much worse than it was, with my debt SKY HIGH in comparison to what it has been all of my life. We are stuck in this 8% interest rate, no lender will touch us due only to the mortgage. We have missed 1 payment by 30-days which shot us in the foot for at least 12 more months.
I currently own over 65% of my homes equity...with the rest written in a mortgage owned by GMAC. We have come close to being placed into default twice now, and the road only keeps getting more difficult to travel down.
We are now working on a mortgage modification, with my dealing with Castle Point being the key hard-ship. Of course, there is no guarantee that the modification will be successful, and even if it is I am out thousands in getting that piece completed, nearly $13k in interest in 2008 alone, and my credit is damaged for at least five years.
The only GOOD part of this story - is finding out that the founders of Castle Point Mortgage are facing anywhere from 5 to 25 years in federal prison each. Many of their underlings are also facing extremely stiff federal charges.
I am glad the justice system is having their way with those folks. Hopefully when all is said and done for, they end up working for $30k a year and can only afford a small condo.
Keep the faith everyone - so many of your stories sound just like mine :(
I was approved for a cash out refinance i have all the paperwork that needed to just sign. and return. I was all set for 76,000.00 to pay off all my debt. i believe her name was serena i paid to have the house appraised which cost me 350.00
when she called me about the loan she asked me about my job i told them where i worked. and then they denied me.
I feel i was scamed out of my money for the appraise i am afraid to go to another lender due to this all the things they were suppose to pay off everything so i could get a fresh start but now i don't know what to do.
I had been working with Castle Point Mortgage to use equity in my home to consolidate and pay off my credit card debt. They had put together a program that they said would work for me. they had told me that everything is approved and to not make anymore credit card payments. The tentative closing date was scheduled for 2/25, I had tried to reach Ryan on the 25th & the 26th. with no call back. On the 27th. I get a call from his boss claiming that the loan had fell through and at this time he is trying to sell me on some new program (bridge loan), but the loan amount would be 10% less, the interest rate would be much higher and the monthly payments are only $300 more.
He went on to say that if I make these payments on time in 6 months we could do another refinance. I had absolutely no interest in even listening to this offer, but I had asked him aren't you going to sell my loan and he responded that even if they did they that they would honor any agreements. I could not believe that he would have even thought The had claimed that this program defaulted because I was late with 1 mortgage payment within a 12 month period.
The truth of the matter was that weeks prior to the closing date they had asked me to write a letter to explain why I was late with 2 mortgage payments, they obviously knew that I would not have qualified for the program from the very beginning. They know that I am very upset and will not return my phone calls and my emails to them get bounced back. I had read these complaints while I was working with them so my gut feeling was they were going to try to pull something, but I would have never imagined this.
It has been a year since we went through Castle Point for a refinance. They got us out of our other loan, but in the process they defrauded on the information we signed on. Didn't realize it until just recently. Only because Brian told us to look over the day before paper work, if it was wrong let him know and they would fix it before signing the next day. So I read it over and everything on that was correct. Since he told us that it was going to be the same the next day, we really didn't read it.
Big mistake they upped my pay, they upped my husband's pay and they slipped in a waiver of escrow. Which now our proprty taxes are going on 2 years behind and we are getting ready to lose our home. I was told by the BBB of Maryland, that there is nothing they can do since Castle Point has since gone out of Business. We need help and we need it soon. We worked to hard to lose our home. Especially when we have a 7 yr old child we have to take care of and think about as well.
We are about to lose the only home we have ever had, and its not right or fair that they are getting away with this crap. They need to pay for what they have done to everyone.
My wife and I applied for a refinance at the beginning of June through Lendingtree.com. We quickly received information from castle Point Mortgage. I was dealing with a gentleman named Nick from Baltimore, MD. He was very supportive and wrked with me. Seemed like everything was going well. Whatever they needed I got done that day. Emails, fax.. etc... We were APPROVED.
On June 13 we paid an appraiser directly $325. We recieved a pack of papers in the mail on June 18 with everything we expected. There were some slight errors to the APR, debts but I was assured it was ok and to correct and initial them. I sent them back right away and tracke dthe mail. They received the mail on monday June 23.
My last conversation with Nick he assured me we would close before Jul 1... don't make a mortgage pay,ment in july. I sent an email to Nick June 23.. No reply.. I called Nick no reply.. I proceeded to call Nick several times over the next 5 days and then left messages for his boss... no reply..
My wife receives a call out of the blue from Shannon.. She said she was in the New Jersey office and she was now handling the account. She had no idea what happened to the guy in Baltimore. Giving her the ebenfit of the doubt and wanting to just get this done I spoke with her on Jul 2. She said she had to get everything to a prosessor to write up and they had everything. It looked good. She would call me back that afternoon. No reply.
I called and left a message July 3. No reply... Again, I gave them the benefit of the doubt though very upset because it was July 4th weekend. Monday July 7... called 10 times to Shannon's voicemail.. said she was out returning on monday... went to her bosses extension left a message. NO REPLY... Called several more times today July 8.. NO REPLY... followed the prompts.. no operators.... chos ethe processor prompt... Mail box is full unable to leave message.
Called Lengintree.com to complain and see what is going on. Was on hold 20 minutes.. They couldnt get through to anyone. Said I have to wait 24 hours befor ethey could do anything. I told the person how upset I was and how we are now behind due to this whole experience. I also reiterated that Lengintrees website shows Castle Point as a great Lender.... Stars and awards.. I am exhausted. I want to prevent other people this stress, financial hardship and misery.
My wife and I are completely stressed out. We are struggling a little and now have to go through the whole process again. We are out of pocket $325 we paid to an assessor, I ahd taken days off from work to file paperwork and take care of things. We are slightly behind on credit cards.
After they told me I was approved, they had me pay $350.00 for an appraisal. They never responded to my emails or phone calls after that. Finally I was able to get through by acting as an existing customer. They put me through with a Mr. Zach who informed me my loan had been denied.(this was not even our loan officer by the way) They had also told me not to make any more payments to my credit cards and mortgage as my refinancing had gone through. I provided them with the account numbers and all my personal financial information. They never paid anything. I was now stuck with late fees, and lies.
They mislead us in believing we had been approved and everything was in process. They really messed us up and maybe even our credit. We called them to express our anger and had asked to be refunded our $350.00. They told us to do what ever we need to do, but they will NOt refund our money. Had we not called, they would have never had called us. They avoided all our phone calls and scamed us.
We were lied to and cheated. After filing a complaint I noticed they already have 53 complaints against them.
After filling out a loan Appilication for a refinance. Craig sent me an e-mail saying that i had been approved for the loan. After filling out documents time after time and 45 days going by i got a letter for Castle point saying my load was not approved. I fit was good at ont point, why not know.
We were contacted by Castle Point as a result of our inquiry to Lending Tree. After 4 weeks and $670.00 in out of pocket expenses, we finally CLOSED on the loan on May 24, 2008. Funds were to be deposited in our account after midnight May 29, 2008. After numerous attempts to reach Castle Point we were informed on the 30th that the money would be in our account by Friday, May 30th. We were then informed by text message that the funds would be in our account Monday, June 2. After calling numerous times, we were informed the they were not going to honor the closing. Nothing on our end had changed and we sure were taken for a long a stressful ride by Castle Point!
We are out the $450 appraisal and numerous late fees from the accounts that were to be paid off directly by Castle Point. Also 2 inspections totalling $220.00. Our existing Home Equity had been notified of a payof and our insurance company had been informed by Castlepoint to put them on our policy and that they would be be escrowing the funds.
With out my permission Brain D. K. withdrew 350 dollars from my bank account. When I called him to confront him. He sent me a check for $275 instead of $350. Afterward, I called him and he stated that he would send me the remaining $75 and apologized for the inconvenience. Since that time, I have been calling and leaving messages and i have received no answer. Please let me know what to do. Due to this problem, I lost 350 from my account. I feel that my privacy is being invading and fear for the protection of my identity.
I was contacted by Chris the first week of May 2008 after applying online for a home equity loan to pay off credit cards. I needed 30K. I am borrowing against a home that is owned free and clear worth 85K. After speaking with Chris at length he thought he would have no problem getting me approved. I was very honest about my credit rating, home value, and that I was self employed so my taxes would show a loss of income. "No problem, I've gotten people approved with credit ratings below 500. I will run the numbers and call you back" Chris said. He in fact called back with great news. He could get me 30K in about 2 weeks.
I needed to pay $350. for appraisal, which I was a bit leery of doing but decided I had no other options. After the appraisal and faxing all of my income records, Chris called to tell me that I would have to get 50K instead of 30K since the "Federal Govnmt JUST TODAY sent an email stating it is not in their best economical interest to give loans under 50K." I wasn't told it was a govnmt loan but Chris said yes it is @ 8.5% for 30 years. Fine. I would take 50K and just pay the extra back towards the loan. Papers were signed and sent back and no word.
After about 5 days I called. No answer..no return phone call after leaving messages. Finally, I talked to a guy named Greg and was told I would need a co-signer. I dont have a cosigner and hate to ask anyone to do that. I told Greg that Chris said this was a definite thing. But Greg said no co-signer no loan. I raised my voice and ranted a little about being out $350 and Greg stated "They were the ones who were out the money having to do title searches etc.!"
By the way where is Chris? "He doesn't work here anymore." So I reluctantly called my father who said yes he would co-sign. I have been calling Greg back to no avail and I am still trying. I now have a feeling this isn't going to happen and I am out the $350. I have been telling all my credit card companys they would have their money by the end of the month. I am behind on payments and the interest rate keeps getting higher and higher. I am now behind on my car as well.
I am just giving everyone an update. I went through the BBB of Maryland in regards to Castle Point and what they did to us last year. Castle Point continues to lie to the BBB in regards to the conversations I have had with them. And I keep rebutting as much as possible. But it does not look like the BBB or Castle Point is going to fix anything. So much has been said, I wish I had time to share everything about the experience, but time is money. We are going to wind up losing our house if things are righted soon. We do not have the money to keep up with the rest of our bills or to put food on the table for our kid or ourselves.
I am going to be looking into a lawsuit against Castle Point for Fraud and Bad Business Practices. Or if you know of an attorney who would be interested in a Class Action Lawsuit, please let me know. We should all stick together against Castle Point, it's not fair or right how they have treated us and what they have done. Hope to have some responses soon. Thank you Consumer Affairs for your help and diligence when it comes to these bad businesses.
I want to warn all you credit challenged consumers. My husband and I were contacted by Josh Shaw from Castlepointe Mortgage telling us he could help us. When he called he gathered some info (SS#, Income, what we feel the house will appraise for, etc) then told me he would call me back shortly. My husband's and my credit are not the best by any means but we are trying to get out of an adjustable rate mortgage that we were suckered into 2 years ago and is about to adjust and we are trying to avoid losing our home.
Josh Shaw contacts me back about a half hour later informing me he had good and bad news - first we were denied for a 30 yr fixed but he got us APPROVED not qualified APPROVED for a 15 yr fixed for the same amount we are currently paying - WOW who wouldn't jump at that! I told him to let me call my husband to inform him of the rates, monthly payment, etc and I felt sure we wanted to proceed but let me just run it by him. I called Josh Shaw back and told him yes let's proceed. And could he fax me a good faith estimate etc. (All documents state we are APPROVED). I went home that evening and faxed him all the documents that he requested to proceed (w-2's, insurance docs, mortgage docs, etc. After all we were APPROVED not qualified we were APPROVED!
The next morning he calls me to get my credit card number for the apprasial fee which he tells me is $350 - then low and behold he charges me $450. I immediately call him as this is not what he quoted me and that is more than I was prepared to give him. He tells me that oh its an FHA apprasial - my bad it is more indepth Uh ok that is still not what you quoted me - at this point I have the worst gut feeling you can imagine! I just got that I am about to get screwed feeling Anyways the appraiser comes out on Tuesday and I am making small talk telling him I am concerned that because of the foreclosures in my neighborhood that I am not going to get what I need. The appraiser ask what I need - I told him $180K-$185K which is what I told Josh I felt we could get apprasied at. The appraiser told me he felt I was right on but of course he had to finish up his research.
Today I get a call from Josh letting me know that the apprasial came in at 180K - Well I'll be that is precisily what I told him a week ago when he took my money. He then proceeds to tell me that they can only loan 97% of the loan and my husband and I would need to bring $5K to closing - Well if I had $5K lying around I would not be inquiring on refinancing?I called him on the fact that he lied and misled us on our loan and they never intended on fullfilling their obligations - I told him about all the complaints I had read and he immediately got defensive with me and rude telling me what else do you want me to do - your house did not appraise - that is not my fault - Ummm well I told you it was going to appraise for around 180-185 you chose to document that it would appraise at 190K. You misled me and got my hopes up that you all were helping us I am now trying to dispute the charge with my bank since they charged me for a service under the presumption that this was all that was holding us closing in 15-20 days and they did not deliver on their end of the deal.
Now I am going to potentially lose my home as my mortgage pymt is rising $300-$500 next month. I am out the $450 dollars for an appraisal that should have never been done since I informed the loan officer that it would come in at 180-185K.
I JUST WAS CONTACTED BY CHRIS BURCH AT CASTLEPOINT MORTGAGE TELLING ME HE COULD HELP ME WITH A REFINANCE LOAN, After the initial app, I was told I was approved, sent all the info they asked for and now 45 days later, I get a call say I was turned down.
I'M IN A WORSE FINANCAL BIND THEN I WAS BEFORE CHRIS CALLED. EVERYTHING IS BEHIND, HOUSE, CAR CC'S ETC
I was called my a rep from Castlepoint Mortgage in Eldridge, MD by the name of Chris Burch, saying he see where I was trying to refinance my home, and that they could help. Been in my home for over 13 years, on my job 30 years, payment history was fair, but I was told they could still help me. I asked them if I had to pay my mortgage and car payment, property tases, they told me NO, so I went on their word, since they are suppose to be the professionals here. After supplying all the info for the application and credit report, I was told I was approved. They requested all of the usual, pay stub, W2 etc etc. I had to pay for an appraisal which again I thought I was approved, I had get flood insurance, because I thought I was approved, which I never had to get since I moved into the house. And all I asked of them was to keep me informed as to how the loan was going, if not on a daily basis a weekly basis, and I had to beg them to do that.
Now here it is 45 days later to be exact and they called to tell me I've been turned down. What I don't understand is how can you approved me in the beginning and turn me down at the end. Now I'm in a worse fix then I was when I first talked to them. Poor business ethics. Buyers Beware, don't pay for anything until you are abosolutely, positively approved. The loan processor Melissa Richardson only called me when she needed something, other than that I didn't hear from her. I was sent a packet of forms to sign, date and return, with what my new interest rate would be, what my payments are going to be, and when they will start, so what else would a person to believe other than they are approved. I've called to try and talk to the office Manager Chad Jones, and he won't return my call or emails.
CASTLEPOINT MORTGAGE IS A BAD COMPANY TO DEAL WITH, I GUESS I SHOULD HAVE READ SOME OF THESE COMPLAINTS BEFORE I STARTED DEALING WITH THEM. I'M ALSO REPORTING THEM TO THE BETTER BUSINESS BUREAU IN THEIR STATE AS WELL AS MINE.
The damage now is I'm furhter behind then I was when I was first contacted by them, I still need to refinance, but now no one else will help for 6 months to a year from now.
I had filed a complaint against Castle Point mortgage for an appraisal fee they had not refunded me. Once I filed the complaint they finally did issue me the credit for the full amount.
Took out a debt consolidation loan on my house which I owned free and clear. I only wanted to borrow $50K for repairs, payoffs and renovations. I was told by Lynn-Marie that the lowest they could finance was $80k. To make a long story short, it took 8 months to finish the paperwork, things had to be faxed and refaxed, and in the end, I came out with an $80K loan, $880 monthly payment (on a fixed income of $1400/mo), and an 11.875% interest rate. Just like the other post, no more that a month later, Countrywide purchased the loan and now I am struggling to keep my home. AVOID BOTH COUNTRYWIDE AND CASTLE POINT AS IF YOUR LIFE DEPENDED ON IT!
I am currently struggling to make the payments and it is a toss up ususally between the mortgage and utilities. I am 62 and retired...I should be relaxing and enjoying life.
In January 2007, my wife & I did a refinance loan with Castle point mortgage. The loan officer that we worked with through the process was Nick Z. We had to take on this loan because of our credit situation with the intentions of only being in the loan for 6 months with on time mortgage payments according to our loan officer (NICK), in which we did so. Our interest rate is 11.875% 2 year adjustable.
We have been in this loan for 1 year and 3 months, and we are struggling to keep our home! We are are now in a forbearance plan and we are still struggling to make these payments. We have been trying to refinance with other lenders, but because of the forbearance plan and not being current with our mortgage, no lender will touch our loan. We have plenty of equity and can't refi! I know that Castle Point Mortgage took advantage of us! I've been calling them for aid and they just tell us that their unable to help us. Well Castle Point did not make our situation better, they made it worse. We are at our wits end!! I don't know what I'm going to do to keep my home.
I'm currently in a forbearance plan & do not know how I'm going to get caught up with mortgage payments, my wife has lost her car due to these high mortgage payments and she works 55 miles from home, this is not helping our credit rating at all!
I had just gotten out of bankruptcy and I wanted to refinance the house to make some repairs. I didn't know if this was possible so I went on line to see if I could get any information about. The first call was the employee of Castlepoint named Angela. She told me, oh sure we can work something out. She would call me day and night to see what she could do for me and finally I called her back and she asked for all this information which I gave her. She told me, let me go to my underwriters to see if she could get an approval with cash out. Within minutes she came back to say that I was approved with cash out and she told me the only thing I would have to pay for was the appraisal.
She asked me for a cc# which I didn't give her but I did give her my bank account number, silly me. Little did I know that the were going to deduct money from my account that very night. Sure enough when I notice my bank account was short, I checked around and come to find out that they had deducted $350 from my account. I called her back and told her I had not given her permission to deduct that money and she told me sure you did, I told you the only out of pocket would be the appraiser fee. I was under the impression that if they did the appraisal that they would at least let me know that they were going to take the money out. Then they asked for all this paper work which I sent them and within an hour they called me to tell me they were sorry, but they were not going to be able to help me with cash out because my house had came in less then expected price. I know the amount they said was not right because I had a friend of my come and check out my house and they said it was worth more. What a scam the take your money and put you more in the hole then before.
I now have to try and figure out (1) How to make up the $350 that they took.
At first I worked with Castle Point Mortgage. I owned this house with a partner for a few years, so I had equity in the home. I had to get his name off the house, so I found Castle Point Mortgage, and they worked on a loan that I could afford. The day of the closing came, and my % rate went up to 12% with a $1600 + payment, when I only make $1400 a month. I called them; they said "Take or leave it--that if I make three payments they will get me a new mortgage." One month into the loan they sold it to Countrywide Mortgage. I've been trying to work with them, but no help; my house my be going in foreclosure because they misled me. They over-inflated my paycheck to make look like I made more them I did; so now I'm losing my home.
Maggie called and said that we are eligable for a refinance and that GMAC was going to waive the prepayment penalty. We would not be responsible for any fee's but the appraisal fee, which I paid that day over the phone so that the appraiser could come out. I had a ton of questions and Maggie always answered in a roundabout way. To make a long story short, Castle Point negotiated a short sale with gmac. This was not disclosed to me. I was told it was a refinance. We certainly did not qualify for the short sale from the research I have done. Our mortgage was $188,000, our appraisal came in at $255,000. We have mutual funds and were not in jeopardy of losing out home.
It was not until after the closing when I called GMAC to make sure payment was wired that I found out that only $172,000 was paid and accepted as payment in full. There was a deficiency of $16,000. I will have to pay capital gains on that now. I would never have authorized such a thing. The lending practices of this group is underminding. Their title company Royal Settlement, owned by Castle Point, paid themselves out of my mortgage money over $12,000 in fees! I was not supposed to be responsible for any fees but the appraisal which they also paid themselves for again after I have already paid. I contacted the Attorney General in Connecticut and am now awaiting to see if I have any recourse. Can I sue and get my mortgage completely paid for? Can I get the $16,000 that was shorted? My credit is worse off due now our GMAC mortage shows up as credit granted excepted less for payoff. I was mislead in so many ways. I saved all emails that verified what they stated to me and I also faxed the attorney general my loan documents as well. Has anyone had a similar experience? Don't use them. They will only hurt your credit , not help you.!!!
My credit report is now showing that my mortgage was paid off with less then owed which is just as damageing as a reposession or forclosure. We work so hard and were taken advantage of terribly. Now I am in a deeper hole!!
I went through Castle Point to refinance my home. Now, my credit wasn't so hot before all this. Bryan told me that we could refinance, taking money out to pay off our car payments, and some of the medical on our credit. I thought that this was a wonderful deal. The interest rate was even .25% lower then what he quoted me over the phone. He gave us extra money to help keep up with the payments since they went up by $1,000 dollars more a month. He told me that within 6 months of this refinance that our credit score will have gone up considerably and that we could refinance to bring down the interest rate. Day before closing he called me, I verified all information, and I asked to make sure that the payment he told me it was going to be, was with escrow. He told me that it was. So after the six months, with no money left to help pay the mortgage, here we are right now stuck into a loan that we can no longer afford. We are worrying if we are going to lose our house now.
I called Castle Point back when he told me to. And they tell me that there is no escrow account, that our credit still is terrible, and they can't help us. And we have even called around, and no one can help us out of this current situation. I was told I was better off selling my home, using the equity left over to pay off my credit score and buy a smaller house that we can afford, when our house is small already, with a 6 year old running around.
Castle Point put us in a worse position then we were in. Foreclosed upon with no roof over our heads, we can't even afford to buy food for our daughter or ourselves because of all this.
I contacted Castle Point Mortgage to get a Home Equity Line. At the end of the first call I was told I will send the file to Underwriting today for a preliminary approval. Sounded good to me. To my surprise there was the old by the way... By the way he needed my bank account number! When I asked him why he said he can't submit a file without it as it would come back incomplete and thus a preliminary approval would not be granted. I told him I can give him an account number for an account that I don't use but why does he need this? He told me that they money would be automatically deposited into my account upon loan approval and that they would likewise do an appraisal and take the money right from my account.
I said absolutely NOT! I will not pay for an appraisal since I had a recent one. He said okay fine but he needed the number for the file to be considered complete. Again, I said I can give him an account number where there is no money and that is fine to make the electronic deposit into this account but I can NO PERMISSION to take money out. I got a phone call from an appraiser and she said she had a work order from Castle Point Mortgage. I explained that I would not be paying for any appraisal and that Castle Point was aware of this. She said I don't pay her for the appraisal and not to worry, if Castle Point is requesting it, they pay for it.
I allowed her into my home to do as she must. No sooner did this happen, I got a notice from my credit union saying I was being charged $25.00 for a bounce fee. It seems Castle Point tried to withdraw $350 from my old checking account! Furthermore, they never did my loan, insisted on obtaining more personal information about me, requested deeds for my two homes and lots of other stuff that I thought was odd AND they never did my loan! I never even say any appraisal and was told the appraisal was done and the amount was $505K but the appraiser ran into some problems and she didn't submit the actual appraisal as of yet. I NEVER GOT ANY APPRAISAL yet they without authorization took money from my checking account and have sent this issue to a collection account.
