Mortgage Design Group
12909 SW 68th Pkwy
Portland, OR 97223
(503) 620-6000
www.mortgagedesigngroup.com

First American Title Ins. Co. of Oregon, Portland
www.firstam.com

1. We were pressured by Barron C. at Mortgage Design Group to sign for a 30 year loan with a 15 year balloon payment. We were told that we didn't qualify for anything else. Once we decided to rescind, he began calling with all the other "options" we had available. Later we learned that a mortgage broker receives extra money when they sign a balloon payment loan. After our situation occurred we heard that another broker from the same company was discussing our situation with our business partner.

2. When we signed our loan paperwork, my husband and I signed separately. I signed at the First American Title Company office in Salem Oregon. When I went in they gave me an envelope containing copies of the paperwork I was to sign. While signing the paperwork the employee made handwritten changes on a lot of the papers including changing dates on the rescind notice. She stated that she was unsure why there were three copies of the rescind notice for me to sign, but had me sign them then kept all three. The same thing happened to my husband when he signed with a mobile notary.

3. We were unsure and uncomfortable with the 15 year balloon payment, so we decided to use our three day right to resind.

4. On the day following receipt of our rescind notice, our loan was funded. I received a phone call from Amanda W. with First American Title telling me that I was too late to rescind. When I argued that I had rescinded in time, she told me that I had not done it right. She stated that I should have sent one of the originally signed rescind notices not a telegram - as stated on my copy of the rescind notice - directly to her. I said I had never heard of her and she argued her name was on all of the paperwork.

5. Later I received another call from Amanda stating that the funding checks had been cancelled and I needed to send back the additional funds. At this time I knew that my mortgages had been paid off. I refused to send back anything until I had retained an attorney.

6. About a week later I received a call from Linda M. the Escrow Manager for First American. She tried to convince us we should keep the loan, then refinance it. I refused, so she began putting pressure on me to agree to having our other loans reopened. I told her no one had my permission to do anything with our old loans until I had an attorney. She called me several times in two days with the same pressure.

7. Next I received a call from Jay D. with the legal department at First American. He also gave me the same pressure to reopen the old loans. He told me that they had a certain time frame that everything needed to be corrected in and I would need to reopen in order to conform to the timeline. I again refused. He stated that First American would be filing a lawsuit against Chase in order to get the matter resolved. I was told I would receive copies of the lawsuit early last week. To date I have not.

8. THE SAGA CONTINUES!!!

My life has been hell for the last month attempting to deal with this. I have been told that what has happened to me is a fluke, that it has never happened before. I know this can not be true. I believe there are other people who have rescinded but the loan funded anyway and they felt forced to keep the loan because they were told they messed up. I have been told that "they didn't do this intentionally" by our state attorney generals office. I do not believe this.

I am hoping that posting my rant will help me to find others that have had this same experience. Please contact me @ Email User if you have a similar story. If we stand together maybe we can take back some of the power from Big Business.