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If you take a closer look at their top producing loan officers…there is a smell in the air. They're creating another sub prime implosion. They are qualifying buyers who shouldn't be buying homes to begin with. 530 credit scores 50k income…that's asking for trouble Mr. Ashley. Your good friend Mitch Cohen is paying off debt for buyers…isn't that illegal…i see orange in your future for all you scum bags!!
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If you take a closer look at their top producing loan officers there is a smell in the air. They're creating another sub prime implosion. They are qualifying buyers who shouldn't be buying homes to begin with. 530 credit scores 50k income that's asking for trouble Mr. Ashley. Your good friend Mitch Cohen is paying off debt for buyers isn't that illegal- I see orange in your future for all you scum bags!! |
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I am interested in hearing from unsatisfied Lend America customers. I do not work for them or not affiliated in any way with them. I too have been duped by them my e-mail is [email protected], legitimate e-mails only please thank you |
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Dec. 2, 2009
FHA shuts down Lend America The Melville, NY - based lender closed its doors and laid off nearly 600 people after the Federal Housing Administration revoked its approval to originate government-backed loans. I would guess today's news from Melville, NY about Lend America is not surprising some people! I hope that those who are with Lend America... or used to be with Lend America don't get too hurt by another greedy life sucking business like this one... We are caught up in a similar scam with Bank of America... Obama's plan was to reduce rates and bring borrowers under the 31% debt threshold of debt to income ratio on mortgages alone... not create higher interest rates and consult it's borrowers to "Not pay mortgages" to better qualify for government money. And to consult inhouse borrowers that are temporarily suffering rough times to "make half payments" on their mortgages - forebarrance, (then subsequently reporting to Equifax, TRW and other bureaus negative information subsequently ruining credit scores and credit reports) reporting the borrower 30, 60, 90 and 120 days late forcing their own borrowers into dealing specifiically with them (can you say monopoly) the forebarrence program is being abused all over the place and banks are locking borrowers into their scams and taking good competition that would better serve the borrower. But surely bankers must sit there and say, "let's just destroy their credit so we know we own them and we'll make a few thousand off the deal in the meantime." The banking industry makes me sick when they don't follow the basics of "good and lawful business" what they are doing isn't what made America great... but it is the same terrorist mentality that will bring her to her knees as sure as the other crazed terrorist animal used passenger planes as missiles in PA and NY. You get my rat of the day award... heck wear it for a lifetime, some of your clieints will suffer that long! Michael |
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Originally Posted by aviator4
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Lend america is bull I was a loan officer for them ask about the points on the back end things you don't know about they charge masive points please I quit I couldn't sleep at night and not for nothing you worked from 9am to 2 am sometime to meet your dead line because if you didn't you lost your job.. do yourself a favor just look real good in to a company you trust your money to
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Well aviator4 I am glad you had good luck with this company because I did not. I did a refinance with them over two months ago and we where supposed to close in 10 days now I heard they “CLOSED THERE DOORS” and apparently their phones because every time I call no one wants to call me back and they are very rude when you speak to them but I will not mention names because I do not want to slander anyone on a public blog. This company did not pay my other mortgage company off or did they send my the reminder which was $19,000 which I don’t know about you but my family could sure use, and then they had the tenacity to sent me a mortgage bill with a late fee and call my house with some one trying to collect and when I ask why they say that they only collect and don’t know any thing about the so called loan its self. No one can give me answers are they going to honor our contract or not? Am I going to get my money or not? Yah real good company. You can do all your “ LOL and Woohooos you want but the bottom line is this company is screwing over hard working AMERICANS, VETERANS and their families and if you want proof contact me. |
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I bet all of you who posted such praise of LA and Michael Ashley feel real stupid about right now. LA tried to pay off my 1st mortgage earlier this month... with a BAD check. If I wrote a bad check for $60,000 I would be in jail. I have talked with the FBI, special investigators with HUD and FHA, the NY banking authority,and the attorney general in NY and VA about this. I heard this week Gennie Mae is taking over some of these cases. I am also filing a law suit against them. |
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Well, as a courtesy update to this post. My posts above are based on MY EXPERIENCE with them. THAT IS ALL. What I can say is that perhaps I defended them a little too ferociously now that the FHA has shut them down and fined them over half a million dollars and their shady practices have finally come to light. Look, I'm no special investigator, I don't claim to be a financial expert or a mortgage expert or whatever. I'm not in the industry (though some on this board have accused me of such) - I'm just an average consumer speaking to my experience. I didn't get screwed by LA - they helped me out. I will say it again, my experiences above are my PERSONAL experiences. I didn't have to forge any documents or skirt my way around proving income. I didn't have to pay a mortgage broker some ridiculous amount of money or anything like that. I guess I was one of the legitimate customers that they had. I am still in my house, the mortgage is now handled by GMAC, the rate is still the same. My payment has changed since my first post here. It's gone up $30 a month, but that's because this is the first year property taxes included the actual Payment, not just the land and it was expected. I'm still a happy customer. Not because Lend America is necessarily because they're a good company, but because in the end, Gary delivered on his promises... every last one of them. I just didn't get mixed up in all the bad practices that apparently Lend America was getting into. I never got a chance to streamline my FHA loan before the were shut down - for some reason my gut told me not to do it.. Something tells me this is a good thing. The rate on my loan is still outstanding and who knows how big of a mess I'd be in had I actually tried to do a streamline right before they were shut down. Please know, I am a real consumer, I am a real homeowner (now), and am not affiliated with them whatsoever. My experiences above are STRICTLY based on MY PERSONAL EXPERIENCE. It will be a LONG LONG time before I EVER endorse another company, thanks to this very blog. |
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Personally, I don't think there's anything wrong with endorsing a company, if you've had a good experience and believe in what you are saying. However, I do believe many posters on this thread were not just regular customers, so this particular thread might not have been the best place to do it. This thread has been a lot of nonsense back and forth. There are other places around here where companies do get mentioned and people post experiences. Nothing wrong with that. I just think this thread was a little whacky, got way out of hand, and quite frankly, I'm tired of looking at it. (And yes I know, I'm causing it to show up on my subscription list.) Michelle, I don't think it was necessarily cool saying that everyone who endorsed them should feel stupid. For those who were real customers and had good experiences... well, sometimes people need to watch out for things a little better, but they don't need to feel "stupid" about it - just learn a lesson and hopefully do better research next time. I'm not sure if this was a "jumping out and biting you obvious" sort of situation - perhaps a little more subtle. For those who were lying or just screwing around, I doubt seriously they feel stupid about it, do you? People who do stuff like that intentional have a purpose and they don't feel stupid about it. They're probably just pleased they got away with it as long as they did. |
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