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Company Loan Type APR Est. Pmt.

City mortgage - Good or bad

Posted on: 13th Feb, 2006 08:49 pm

I lived in texas and i am looking forward to city mortgage for the loan.

But i am not so sure about this company. I am a old lady just surviving. I lost my son few years back. I have to take care of my husband who is also not well but luckily, I got his job. They have given me some offers but still somehow, they are not telling me everything in detail.

Is it true that their reputation in the business in not good. Pls help me as my age in not permitting me to go here n there for the information.

Sorry hear about your son. Pls don't worry soon things will improve for you.

And about city mortgage, may be today they are doing good business but I am not sure whether they are actually giving worthy service to the common people.

If I remember correctly in 2004, Attorney General Greg has filled a lawsuit against many mortgage companies and city mortgage name was there in the list.

They have not done any good to the community rather they have manipulated many homeowners in texas, esp. Hispanic ones.

They have misguided many common people like you. So pls take my suggestion and don't go for with this company.
Posted on: 13th Feb, 2006 08:59 pm
I cannot stop myself on this. These kinds of companies are killing our happiness. Somehow, this needs to be stopped and we have to do something about it. I will not sit quiet on this.

Can't the people of this community do something about it?
Posted on: 13th Feb, 2006 09:12 pm

I have also heard about this company. I think I heard from someone that they take money from the borrowers and instead of giving it to the mortgage company they keep it in their pockets and they also charge lot extra fees which are generally not charged by other companies.

And you are absolutely right Adonis; if no one else is taking any action then we should do something about it because we can also face this problem in our future.

Posted on: 13th Feb, 2006 09:42 pm
Hi Adonis,

I can understand your concern about the inconvenience that common people are going through at the hands of these companies. Actually, such scams are becoming a regular feature of the mortgage industry.

Through this section of the forums, our Community allows people to share their experiences with this company and others who are involved in such scams. I believe this will be of help to others who are a part of this Community.

Since our Community is growing each day, therefore more and more people will come to know of these illegal practices. This will prevent them from becoming a victim of any kind of scam.

Posted on: 13th Feb, 2006 09:47 pm
Hi all,

Some companies are continuing these malpractices which is damaging their reputation as well as others' in the industry. :(

At least I am glad to find that we are becoming aware of the problems that consumers are facing with these companies through this forum.

This may alert such companies too and they may refrain from doing wrong business. Hope things will improve, and we will have a total neat and clean industry.

Posted on: 14th Feb, 2006 09:19 am
All mortgage companies in general are seeking to maximize their earnings. Please be advised that a well written mortgage with clear specified terms and conditions at a low fixed interest rate with any of the lenders is not a bad choice.
Posted on: 22nd Jul, 2007 07:18 am
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