Lend America

thisisone · Jan 24, 2008, 04:09 AM

Is Lend America a legitimate mortgage company? They sound too good to be true.

dagniewski · Nov 25, 2008, 10:54 AM

Can you give me a mortgage with 650
credit score?

user365us · Dec 23, 2008, 11:42 AM

Quote:

Originally Posted by Al Dole

The lawyer is correct. This company has been profiled in the recent Business Week article
FHA-Backed Loans: The New Subprime

Still, no one can answer or tell why we should avoid this company. Sure, it is in the news, but as a customer, why stay away from them? High fee? High interest rate?

Jakidd445 · Dec 29, 2008, 07:39 PM

As for what the others are saying about Lend America, I don't really care at this point. My wife and I are currently refinancing our home through Lend America, and we have never had such outstanding service and we've refinanced our home over 4 times. Our Lend America loan officer, Kevin Dayton, has been EXCELLENT. He's no quitter and has put his all into making our loan happen. He has called when he said he would, and he's never left us in the dark during any stage of the process. Call and ask for him at 1-800-707-LOAN, you won't regret it!

OUR STORY

We're currently in a ARM with EMC Mortgage (a subsidiary of Bear Sterns, recently bought by Chase). Well, our rates and payments continued to move up, up and up with each resetting of the ARM. We didn't know what to do. With two kids and a exploding mortgage payment, the future was looking bleak. In fact, around a 6 months ago, after our first reset, we were actually looking at foreclosure, because we had fallen behind on our mortgage payments and swimming in debt. It was bad, and EMC did a modification to help us get back on track, but the payments continued to climb. HOWEVER through prayer, faith and discipline, our circumstances improved. The good Lord takes care of His servants.

In June, I received a promotion in my career, and we were able to pay off some small debts, but our mortgage was still a "beast," eating up our monthly income. So we had to do something. My wife works at a local bank in loan processing and underwriting, so she knows the finance world well. So our first instinct was to go to her boss, seeking help. She has been a super employee, dedicated, honest and hardworking. Well, to make a long story short, her own employer would not refinance us out of our current ARM. So we felt defeated and thought that there was no use to try. We resolved that we would just have to budget every penny and hope that no emergencies occurred.

But my faith told me to press on. So, around three weeks ago, I began to surf the net researching top-rated refinance companies, Lend America made it to the top of my list. Having been turned down by our local bank, I told my wife to call Lend America to see if they could help, so she reluctantly did. Well, that's when we met Kevin Dayton of Lend America, and that's when God removed more doubt from our human minds. Now, in no way am I saying that Lend America boosted my faith in God, but our dealings with them have proved to us once again that God controls everything and we are only borrowing His world, His stuff, while we're here on earth.

Well, after her conversation with Kevin, he took our information over the phone and we were quickly pre-approved. The rates and terms offered by Lend America were far better than those my wife would've ended up with from her own employer. Within a few days, Kevin was ordering our appraisal and sending everything for final approval. Needless to say, the Holidays have slowed down the process a little, but we are due to close our loan either this week or the beginning of next. He locked us in at 5.5% with a 30 year fixed in one FHA-backed loan. This may not sound like a deal to some people today, but with our current rates being around 11% and 9.5% (1st & 2nd Mortgages), this was a phenomenal opportunity for us.

I can't say enough about the professionalism, the determination, and the promptness of Kevin Dayton and the Lend America staff so far. I would HIGHLY recommend them to anyone needing help with their current ARM or high-cost mortgage. As for the warnings placed on this site about Lend America, I find them hard to belief. But, I know that God will lead me through anything. So, if this mortgage turns out to be too good to be true, God will simply open another door, so I don't pay much mind to "doomsayers."

NewJerseyJF · Dec 31, 2008, 05:27 PM

Quote:

Originally Posted by jackhoffmanesq

I am an Attorney in Melville Ny were they are based in and let me tell you to stay completely away from them. The son owns company from Father who is in Jail for Mortgage fraud and the Banking Dept is closing them down in about a month due to the same practices. Continental Mortgage has already been taking there leads from there ads on TV and they are currently on there Ginnie Mae License as they are taking them over with the help of bank regulators.

As far as the Shortt family beware you get what you pay for. I am sure your payments will increase with excuses of telling you your taxes went up, etc...

Thank You

J Hoffman ESQ

What kind of lawyer does not know the proper use of the word there?
The son owns company from Father.... what kind of English is that???

there ads on TV and they are currently on there Ginnie Mae License as they are taking them over with the help of bank regulators.... What are you saying??????

I beg to differ on the lawyer claim?

Jakidd445 · Jan 16, 2009, 04:27 PM

Quote:

Originally Posted by Jakidd445

As for what the others are saying about Lend America, I don't really care at this point. My wife and I are currently refinancing our home through Lend America, and we have never had such outstanding service and we've refinanced our home over 4 times. Our Lend America loan officer, Ryan Dayton, has been EXCELLENT. He's no quitter and has put his all into making our loan happen. He has called when he said he would, and he's never left us in the dark during any stage of the process. Call and ask for him at 1-800-707-LOAN, you won't regret it!

OUR STORY

We're currently in a ARM with EMC Mortgage (a subsidiary of Bear Sterns, recently bought by Chase). Well, our rates and payments continued to move up, up and up with each resetting of the ARM. We didn't know what to do. With two kids and a exploding mortgage payment, the future was looking bleak. In fact, around a 6 months ago, after our first reset, we were actually looking at foreclosure, because we had fallen behind on our mortgage payments and swimming in debt. It was bad, and EMC did a modification to help us get back on track, but the payments continued to climb. HOWEVER through prayer, faith and discipline, our circumstances improved. The good Lord takes care of His servants.

In June, I received a promotion in my career, and we were able to pay off some small debts, but our mortgage was still a "beast," eating up our monthly income. So we had to do something. My wife works at a local bank in loan processing and underwriting, so she knows the finance world well. So our first instinct was to go to her boss, seeking help. She has been a super employee, dedicated, honest and hardworking. Well, to make a long story short, her own employer would not refinance us out of our current ARM. So we felt defeated and thought that there was no use to try. We resolved that we would just have to budget every penny and hope that no emergencies occurred.

But my faith told me to press on. So, around three weeks ago, I began to surf the net researching top-rated refinance companies, Lend America made it to the top of my list. Having been turned down by our local bank, I told my wife to call Lend America to see if they could help, so she reluctantly did. Well, that's when we met Ryan Dayton of Lend America, and that's when God removed more doubt from our human minds. Now, in no way am I saying that Lend America boosted my faith in God, but our dealings with them have proved to us once again that God controls everything and we are only borrowing His world, His stuff, while we're here on earth.

Well, after her conversation with Kevin, he took our information over the phone and we were quickly pre-approved. The rates and terms offered by Lend America were far better than those my wife would've ended up with from her own employer. Within a few days, Kevin was ordering our appraisal and sending everything for final approval. Needless to say, the Holidays have slowed down the process a little, but we are due to close our loan either this week or the beginning of next. He locked us in at 5.5% with a 30 year fixed in one FHA-backed loan. This may not sound like a deal to some people today, but with our current rates being around 11% and 9.5% (1st & 2nd Mortgages), this was a phenomenal opportunity for us.

I can't say enough about the professionalism, the determination, and the promptness of Ryan Dayton and the Lend America staff so far. I would HIGHLY recommend them to anyone needing help with their current ARM or high-cost mortgage. As for the warnings placed on this site about Lend America, I find them hard to belief. But, I know that God will lead me through anything. So, if this mortgage turns out to be too good to be true, God will simply open another door, so I don't pay much mind to "doomsayers."

I meant RYAN DAYTON in the above post...Oops!

HannahBarber · Jan 17, 2009, 09:26 AM

We are currently doing a refinance with Lend America. Everything went very well through the application and closing process. However, when we signed all th documents at closing, they just stopped working on our loan. They never funded the loan and still to this date have not paid off our original mortgage. we are in a real mess now, because our original mortgage is past due and I sent in my mortgage payment to Lend america, so I do not have the funds to pay two mortgages at once. I don't know what to do. The funding department personel will not return any of my voice mails, and even when I have them paged, they will not take any calls. I don't know what to do at this point. Does anyone have any suggestions for me?

I have never had a problem before now getting a bank to fund the loan once it has been closed.

Jakidd445 · Jan 17, 2009, 04:55 PM

Quote:

Originally Posted by HannahBarber

We are currently doing a refinance with Lend America. Everything went very well through the application and closing process. However, when we signed all th documents at closing, they just stopped working on our loan. They never funded the loan and still to this date have not paid off our original mortgage. we are in a real mess now, because our original mortgage is past due and I sent in my mortgage payment to Lend america, so I do not have the funds to pay two mortgages at once. I don't know what to do. The funding department personel will not return any of my voice mails, and even when I have them paged, they will not take any calls. I don't know what to do at this point. Does anyone have any suggestions for me?

I have never had a problem before now getting a bank to fund the loan once it has been closed.

How long has this been ago? Was it a FHA-Backed Loan? Was this a Refinance? What was your interest rate? Who worked on your loan at LendAmerica? Have you contacted a lawyer and HUD about this? Did anything change with your income or means of living? I've never heard of such a thing as you've explained in this post. If you closed, then you should have a loan number assigned to you in your final documents...Can't you call about your loan number and get information?

HannahBarber · Jan 17, 2009, 06:15 PM

We just closed on Dec 31st and the funding was supposed to be Jan 6th, 2009. Nothing has changed at all in our income or our situation. I am going to try to talk to a lawyer on Tuesday if I can find one. This is such a weird situation. I have never dealt with this before. Ted (the guy who processed our application) said that I need to talk to Dawn (the lady who cuts the checks). However, Dawn does not take any phone calls, and she does not return any voicemail messages. I have also tried to leave messages for her boss (Jennifer) with no results either.

This is an FHA loan, so I guess I can try to contact them somehow.

pacific nw · Jan 18, 2009, 07:27 PM

Quote:

Originally Posted by jackhoffmanesq

I am an Attorney in Melville Ny were they are based in and let me tell you to stay completely away from them. The son owns company from Father who is in Jail for Mortgage fraud and the Banking Dept is closing them down in about a month due to the same practices. Continental Mortgage has already been taking there leads from there ads on TV and they are currently on there Ginnie Mae License as they are taking them over with the help of bank regulators.

As far as the Shortt family beware you get what you pay for. I am sure your payments will increase with excuses of telling you your taxes went up, etc...

Thank You

J Hoffman ESQ

Hmmmm, Mr. Hoffman, you are using "there" when it requires a possessive "their" that anyone who has gotten through law school and taken the bar should know. It would be rather unusual for an attorney to be that specific concerning a case without referencing the case number. I suspect The Shortt family, (I have no idea who they are) might have a case of libel if they so chose to follow up. Please stick to facts "Mr. Hoffman, esq."

Can you provide us with your bar number? Just curious.

jahrichie · Jan 18, 2009, 07:55 PM

Look at the advertisement that runs on the major networks. It's a mock network flash-news announcement. This is in sense a bank, masquerading as a Network news announcement, instead of what they actually are doing, running a commercial.

They are 100 Percent not a legitimate company. Who are you people? Why would you even ask these questions?

If you're dumb enough to do business with them after seeing that, or reading what these people have to say, I have a bridge I'd like to sell you in Brooklyn...for a good price.

Although I hope the attorney is a legitimate source of knowledge, his post is riddled with errors...and I'm pretty sure lawyers in New York know how to read and write.