Equihome Mortgage Reviews (%countItem)
Equihome Mortgage Rating
Address: 9980 S 300 W Ste 310, Sandy, Utah, United States, 84070-3654
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I completed a mortgage refinance with Rocky May through Equihome Mortgage. Before going through with the refinance, Rocky advised me that my current mortgage company had an equity balance of $1600 and I'd be receiving that balance once the refinance was closed. I clarified with Rocky to ensure that the amount would not change. Rocky told me that it may change but it would only go up not down. I agreed to the refinance based on his promises.
Once the refinance closed, I got my equity check for $700. I asked Rocky about the $900 discrepancy and he told me that my mortgage was underfunded and that is the reason I didn't get the $1600. He guaranteed me that amount in order to close the deal. I was mislead into doing business with him.
Rocky was horrible to do business with. He was demeaning and rude. He accused me of being a crook, trying to get additional funds. I didn't want additional funds. I wanted what he told me I would get and an apology for his mistakes/blatant lies.
I’m so sorry you had such a poor experience with
Equihome. We are proud of the high
standards we have for our transactions, but it is apparent that on this
occasion we did not live up to expectations in relation to the refund you were
to receive from your escrow balance. The
initial estimation that Rocky made that about $1,600 in escrow balance would be
returned to you from your previous mortgage company was made prior to receiving
any documentation from yourself that would provide us with more accurate
information regarding your escrow balance. I was informed that the initial email Rocky sent you was the only time
the subject of escrows even came up prior to your refinance closing. The estimate he made was done so in good
faith and based on averages we are seeing with other similar clients at this
time of the year. It was by no means
intended to be a guarantee that an escrow refund of $1,600 would be received. When we received your documentation, it showed that the outstanding escrow balance as
of 5/21/20 was $472.47, which would indicate that this is around the correct
amount you would be entitled to receive with your escrow refund check from your
previous lender (pending the fact that an additional mortgage payment was made
that would have added money to your escrow account, which appears to be the
case as you have indicated that you had received around $700).
Our focus in assisting you with a refinance was to help you
reduce your monthly mortgage payment, which we were able to successfully
achieve by lowering your mortgage payment by nearly $250. The amount that you received as an escrow refund
from your previous lender was not due to the mortgage being underfunded as the
escrow refund portion of the transaction is handled entirely by your previous
mortgage company and no portion of the money you received from your previous
lender was under the jurisdiction of anyone associated with our side of the refinance
process at any point. Nothing we could
have done on our end would have changed the amount of the escrow refund check
you received.
That being said, we have attempted to work with you to
address other concerns you had, including making a mortgage payment for you
which is far from an industry standard and something that we consider to be
going above and beyond. I can understand
you are frustrated with this situation, but berating Rocky over the phone while
using profanity and personal attacks makes it difficult to reach a mutually satisfactory
positive outcome, which of course is our ultimate objective in every situation. We cannot pay you $900 to make up the difference
between our initial estimate and the actual amount received as the $1,600
initial estimate was not a guarantee, but we are more than happy to help you
understand where this difference came from and how to become better informed on
escrow balance refunds going forward.
Again, I apologize for the negative experience you had with
Equihome. It is never our aim to mislead
or misrepresent any aspect of what we do and we are saddened that in this case something
we may have said or done could have been perceived to be as such.
If you have any additional concerns or questions we can
address for you, please do not hesitate to reach out; my contact information is
available on the website.
Best,
Katelyn B VP of Operations
Complaint: ***
I am rejecting this response because it has many inaccuracies and more differentiating excuses. Rocky had my information prior to giving me the $1600 figure. I agreed to the refinance based on his assurances that I would be skipping 2 months of payments and receiving the $1600 escrow refund.
I appreciate the fact that your company rectified the first mistake, however I do not see that as 'going above and beyond'. I see it for what it is, and that is fixing his inaccurate statement. When I first brought that mistake up to him, he tried to tell me that I was mistaken. He only rectified that problem because I had written communication from him clearly stating that I would skip the 2 payments. Unfortunately for Rocky, he couldn't claim that I was mistaken as you both are doing now.
During the extremely toxic phone call that Rocky made to me, he did state that my mortgage was underfunded and that is why I received $700. Now, if that was true, he should have known that prior to telling me that amount because he did have my information and claimed to be going off of that knowledge. I hired this company for their expertise and I was let down. However, it appears that the statement was inaccurate (again) because now you are saying that isn't correct, my mortgage wasn't underfunded? You should be able to tell by now why I am frustrated and why I do not trust any of the information I'm being given since it is continously being changed.
You can keep the additional $900 that Rocky had promised me, the fact is that I'm not upset enough by that to do all of my reviews and complaints. The most upsetting part of all of this is Rocky's professionalism (or lack there of).
When he rectified his first mistake, he tried to deny it at first and then when I had proof, he merely stated "I spoke with this department and we'll be sending you this check." Instead, I would've appreciated an acknowledgement or apology of some sort, such as "I'm so sorry for that oversight, we'd love to make this up to you. We will be doing this __".
Then when I had my second complaint, Rocky was immediately defensive and hurtful. Katelin, you were not on that call and do not know what happened. Only what Rocky told you.
Rocky began the phone call telling me he felt chastised in our texts. I allowed him those feelings and the opportunity to speak his piece. He did not offer the same to me. He interrupted me throughout the entire phone call and would not allow me to speak my own frustrations (basic customer service). When he accused me of being a crook, I did become rightfully angry and yelled while hanging up. He was demeaning and disrespectful.
If he can't offer an apology, I have nothing else to say. Please teach him some basic customer care.
Sincerely