Compare Mortgage Quotes

Guest

Tried shopping United Capital Lenders for a Stated Income Loan. They went through various programs with me constantly changing the programs offered till one I said I would do.

Then they wanted me to fill out a form with all full personal information without disclosing what the rate tier was. They stated a program where they quoted a rate on a ARM then said they also do fixed year 30 rates but she refused to give out the rate before I signed this form or even give a range. Instead she tells me she can't do business with me and to look elsewhere.

Is'nt an honorable broker or lender supposed to let me know what I am getting into before I sign over all my personal information since they have the RATE CHARTS on hand before they even submit a deal to the bank and can surely give me the actual rate (subject to approval of course) of what it would be should it be approved?

Something smelled fishy with these folks and I checked the BBB rating and found it to be a (D) and they apparently were involved in a reverse mortgage scam trying to convince people who weren't in foreclosure that a reverse mortgage was the way to avoid foreclosure which was wrong.

So did I do the right thing here in walking and where should I turn to for such a loan next?

dipaligopale · Joined: 25 May 2010 Posts: 790 22.70 Dollars($)

Hi AdrianC,

I must appreciate your 'whistle-blower' approach to aware people about the fraud mortgage companies.You have done a great thing by checking their status at BBB.I will personally advice everyone that if you wish to deal with any business regardless of the money involved (let it be even a $ 10 deal) you should try to see their status on BBB or else Google the company's name and you will find much information required.

Feel free to ask any further query if you have...........

DIPA

Guest

united capital lenders is a scam research them first!!!!!!!!!!! they almost got me!!!!!!!!!!!

adonis · Posted: Thu Nov 10, 2011 7:58 pm Post subject:

Hi tommy,

Thanks for sharing this. How did they try to scam you??

Compare Mortgage Quotes

United Capital Lenders

Bookmark this page

Helpful References

Calculators

Financial Tools

Our Community

Community Rewards

Followers (252)

455 People like Mortgage

Property State:
Property Type:
Credit Rating:

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

All times are GMT - 7 Hours

Page 1 of 1