I submitted a request for a home equity loan on the web and was contacted by several companies telling me that they could help, but after speaking to about 4, I learned that it was difficult because they said that there is not enough equity on the home to borrow against it.

The property is in Miami Beach, FL and the area’s real estate has been particularly hard because of hurricanes and an excessive number of units in the market

After 2 weeks James Essen from Heartland Home Loans, Inc. 13433 Fenway Blvd, Cir. N. Hugo, MN 55038 contacted me. When James called I explained to him what I heard from other lenders and he said that his contact in FL. could appraise the property to $385K without a problem, (this is much higher than what others told me $330K); he said that he could help me get the property refinanced and get some additional cash to pay off my high interest credit cards. The first two attempts did not work because the new monthly payments were too high and was not a good solution for my situation. He kept calling me and emailing me telling me that he had other loans. After a week of trying, he told me that he had a great option and that I was going to love it, it was a home equity loan. I hesitated because of what I had heard, but after a while, he convinced me that he could help me.

James told me that he already had all the information he needed and that all I needed was an appraisal done. I explained over and over that I was afraid to spend money on appraisal unless the loan had been reviewed and could be approved; he said that it had been reviewed and I should hurry before the offer was lost. He said that he could not guarantee it but that I should feel comfortable because it looked great. I agree that there was no guarantee, but as soon as I paid for the appraisal, he cut all communication with me. I asked him for a copy of the appraisal and he did not send me anything.

I feel that James Essen like the other peopled that called me should have told me that the loan had no chance and not make me spend on an unnecessary appraisal. He did not give a good faith estimate nor did he provide me with a copy of the appraisal after I asked him for it several times. I also feel that his contact over appraised the property to get me to spend the money.

I would like to request that this company be investigated as there are other complaints online about them. I also like my $300 back.

Thank you.