Right Trac Financial Group, Inc. Reviews (2)
Review: On February 10 2015 I spoke with [redacted] re; refinancing the mortgage on my home. On March 12 2015 he provided me with a Good Faith Estimate with interest rate of 4.00%. I repeatedly asked when the closing would be. I had submitted all paperwork when asked and signed everything when asked to do so.
On May 26 2015 Kit called and said I needed to sign paperwork for interest rate of 4.375. I asked what happened to the 4% and he said we lost it because it took so long for the process to deed a portion of my property to my neighbor. This process had been completed weeks prior.
When I looked at the GFE I asked about the estimated settlement charges, he stated that most of that goes to the attorney. I had a mutual friend [redacted] call and ask about the charges and Kit told him the same thing, most of the money goes to the attorney in the closing.
Due to Kits failure to close during the initial rate lock period and failure to seek new loan rate at end of period the increased interest rate adds more than $20,000 to repayment of this loan.Desired Settlement: Any money paid to Right Trac Financial should be reimbursed to me.
Review: 10/12/2013A few months ago I was referred to [redacted] in order to obtain a refinancing mortgage of my home. He advised me that even though my income was low, I could include my elderly mother's social security income to qualify for the new refinancing. My savings are very modest and I was very concerned about fees charged to which [redacted] replied the mortgage company pays his fees. I did not want my mother's name on my house deed as it is not currently on the deed. I was told this would not be a problem. When the paperwork was being filed, I continuously requested information from [redacted] assuring me that my name was the only one to appear on the deed once the transaction was complete. [redacted] frequently mentioned something about a "quitclaim" (the nature of which I was not knowledgeable about) once my new refinancing was approved. I also phoned [redacted] several times after I was contacted by the mortgage company's appraisal rep telling him that I did not want to go through with the appraisal unless he was certain of my refinancing approval as the appraisal cost was a substantial expense for me (he had already requested credit card information from me in anticipation of paying for the appraisal cost.) He told me to go ahead with the appraisal which I did.When my real estate attorney reviewed the refinancing terms he tried to work with [redacted]'s finance company to make sure my name remained on my home's deed. The finance company did not agree. My attorney then advised me that he could not allow me to go through with the transaction as the "quitclaim" [redacted] had mentioned meant that my mother's name would be on the new deed and if it was removed, the new finance company could call my mortgage loan in and I would not be in a financial position to settle the new refinancing.I was mislead by [redacted] and am now stuck with a $550 home appraisal charge. I asked [redacted] to share this bill with me but he told me that he would not.Desired Settlement: I would like a refund of the $550 home appraisal fee. I am stuck with a very expensive bill.