After agreeing to buy a Pulte-built NC home, Pulte Mortgage arranged a bridge loan for me based on my equity in a SC home being readied for sale. A 1st mortgage of $87K at 6.25% was what I understood, however I challenged the 8.99%, $313K bridge during early payoff that I was untold the interest accurral of the bridge loan you're OK if you pay off loan BY maturity 6 months (10/14/07). I stipulated early I would pay off regardless to avoid any accrued interest. So many details and subsequent financial and mortgage people support my case and sited if presented honestly, that Pulte Corporate would do the right and refund the $13K. I was denied access to CEO Richard Dugas and passed down to regional Mgr in Raleigh, Steve Olzark. He, understanding my case & issues, did a 1 month investigation and concluded with his research found no evidence that I was informed of interest repayment details. This was great news which he had me write up so he could present to Pulte QA dept. After 2 months and delays for extra research, Ms. James (Exec. Client Liaison) reverses everything in a Jan14 '08 letter eluded all my issues, Mr. Olazrk's findings only replaced with vague inaccuracies and regrets.
I am out unplanned $13K expense added to my equity losses which has reached the 6-figure mark due to the market distress of not selling in 10 months my home in SC. I feel my recourse options vary; legal is almost unaffordable, restarting at Pulte futile, consumer-protection usually is without authority. Is there exposure, complaint or governmental avenues or arbitration that can help? Are there other suggestions?
