Castle Point Mortgage

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Category: Business & Finances

Contact Information
6800 Road Suite 105Deerpath, Elkridge, Maryland, United States

Phone number: 800-469-4850
www.castlepointmortgage.com

Castle Point Mortgage Reviews

April 25, 2008

Don't trust them

I want to warn all you "credit challenged" consumers. My husband and I were contacted by Josh Shaw from Castlepointe Mortgage telling us he could help us. When he called he gathered some info (SS#, Income, what we feel the house will appraise for, etc) then told me he would call me back shortly. My husband's and my credit are not the best by any means but we are trying to get out of an adjustable rate mortgage that we were suckered into 2 years ago and is about to adjust and we are trying to avoid losing our home.

Back to Josh Shaw - He contacts me back about a half hour later informing me he had good and bad news - first we were denied for a 30 yr fixed but he got us APPROVED not qualified APPROVED for a 15 yr fixed for the same amount we are currently paying - WOW who wouldn't jump at that! I told him to let me call my husband to inform him of the rates, monthly payment, etc and I felt sure we wanted to proceed but let me just run it by him.

I called Josh Shaw back and told him "yes" let's proceed. And could he fax me a good faith estimate etc. (All documents state we are APPROVED). I went home that evening and faxed him all the documents that he requested to proceed (w-2's, insurance docs, mortgage docs, etc. After all we were APPROVED not qualified we were APPROVED!!

The next morning he calls me to get my credit card number for the appraisal fee which he tells me is $350 - then low and behold he charges me $450. I immediately call him as this is not what he quoted me and that is more than I was prepared to give him. He tells me that "oh it’s an FHA appraisal - my bad it is more in-depth" Uh ok that is still not what you quoted me - at this point I have the worst gut feeling you can imagine! I just got that "I am about to get screwed feeling"

Anyways the appraiser comes out on Tuesday and I am making small talk telling him I am concerned that because of the foreclosures in my neighbourhood that I am not going to get what I need. The appraiser asks what I need - I told him $180K-$185K who is what I told Josh I felt we could get appraised at.

The appraiser told me he felt I was right on but of course he had to finish up his research.

Today I get a call from Josh letting me know that the appraisal came in at 180K - Well I'll be that is precisely what I told him a week ago when he took my money. He then proceeds to tell me that they can only loan 97% of the loan and my husband and I would need to bring $5K to closing - Well *** if I had $5K lying around I would not be inquiring on refinancing???

I called him on the fact that he lied and misled us on our loan and they never intended on fulfilling their obligations - I told him about all the complaints I had read and he immediately got defensive with me and rude telling me "what else do you want me to do - your house did not appraise - that is not my fault" - Ummm well I told you it was going to appraise for around 180-185 you chose to document that it would appraise at 190K. You misled me and got my hopes up that you all were "helping us"

I am now trying to dispute the charge with my bank since they charged me for a service under the presumption that this was all that was holding us closing in 15-20 days and they did not deliver on their end of the deal. LIARS!!!

This company is a predatory lender and go after the credit challenged - they get your hopes up and then ***!!!

March 27, 2008

Scam and rip off!

I received calls from Angela Jones from Castle Point Mortgage at my home, job, at all hours of the day and night, weekend including. Finally I decided let me see what can be done. I told Angela about my situation. I told her I had just come out of a bankruptcy and thought I could not get a loan so soon. She said no problem we have a program for you. I told her I need to cash out out of my home to make some repair she said no problem. Let me see what I can do. I told her I did not have good credit, 'no problem' She asked me how much I wanted to cash out I told her the amount, she said not problem. I told her how much my home was worth with the house that are selling in my neighborhood.

So after talking to her she told me that the only out our pocket money they would need from me is for the appraisal she asked for a cc# I told her no. She said well can we have a bank account # they would not charge me until everything was complete. Silly me I gave her my bank information. Then she gets Lisa Wahl on the phone and Lisa tells me everything is going great.

Angela gets back on the phone and tells me that there is a problem and she will have to talk to someone about being able to help she (ANGELA) comes back within minutes to tell me that they said everything is okay and that it is a go. I was to have a closing day within in a week.

Well in the meantime I got sick and called her to tell her I did not want the appraiser to come to my house because i had not been able to get it in order angela said it's not problem they will not stay long. Well lo and behold the take the money out of my bank account put me in the hold because of checks that I had out there that had not cleared then the deduct the money.

I called her and told her I did not give her permission to do that and she said I told you we would need the out of pocket cost. I continue to tell her that I had not authorized it . Well after not hearing from them for a few days. Mind you they use to call at least 3 times a day all week long and now we are unable to reach them. Then I get this voice mail telling me that they were unable to help me because my home had appraised lower that we had discussed. What a crock.

To this day I am still waiting for Angela Jones or Lisa Wahl to call me back. After many calls no answer I receive a notice telling me that they were unable to help me because of my house not being the value they though it would be. Did I get screwed. Most definitely and they sad thing about this is that they are probably doing to many other innocent people. I have reported them to the BBB and the Attorney General hopefully something can be done to put these people out of business. Some of them must of worked for ERON.