Complain about a product or service

Castle Point Mortgage

Barry of Tampa FL (06/05/08)
We were contacted by Castle Point as a result of our inquiry to Lending Tree. After 4 weeks and $670.00 in out of pocket expenses, we finally CLOSED on the loan on May 24, 2008. Funds were to be deposited in our account after midnight May 29, 2008. After numerous attempts to reach Castle Point we were informed on the 30th that the money would be in our account by Friday, May 30th. We were then informed by text message that the funds would be in our account Monday, June 2. After calling numerous times, we were informed the they were not going to honor the closing. Nothing on our end had changed and we sure were taken for a long a stressful ride by Castle Point!

We are out the $450 appraisal and numerous late fees from the accounts that were to be paid off directly by Castle Point. Also 2 inspections totalling $220.00. Our existing Home Equity had been notified of a payof and our insurance company had been informed by Castlepoint to put them on our policy and that they would be be escrowing the funds.

Amy of Canton GA (04/25/08)
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.

Josh Shaw 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 apprasial 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 its an FHA apprasial - my bad it is more indepth 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 neighborhood that I am not going to get what I need. The appraiser ask what I need - I told him $180K-$185K which is what I told Josh I felt we could get apprasied 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 apprasial came in at 180K - Well I'll be that is precisily 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 fullfilling 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.

Now I am going to potentially lose my home as my mortgage pymt is rising $300-$500 next month. I am out the $450 dollars for an appraisal that should have never been done since I informed the loan officer that it would come in at 180-185K.

Janice of Jacksonville FL (04/22/08)
I JUST WAS CONTACTED BY CHRIS BURCH AT CASTLEPOINT MORTGAGE TELLING ME HE COULD HELP ME WITH A REFINANCE LOAN, After the initial app, I was told I was approved, sent all the info they asked for and now 45 days later, I get a call say I was turned down.

I'M IN A WORSE FINANCAL BIND THEN I WAS BEFORE CHRIS CALLED. EVERYTHING IS BEHIND, HOUSE, CAR CC'S ETC

Janice of Jacksonville FL (04/22/08)
I was called my a rep from Castlepoint Mortgage in Eldridge, MD by the name of Chris Burch, saying he see where I was trying to refinance my home, and that they could help. Been in my home for over 13 years, on my job 30 years, payment history was fair, but I was told they could still help me. I asked them if I had to pay my mortgage and car payment, property tases, they told me NO, so I went on their word, since they are suppose to be the professionals here. After supplying all the info for the application and credit report, I was told I was approved. They requested all of the usual, pay stub, W2 etc etc. I had to pay for an appraisal which again I thought I was approved, I had get flood insurance, because I thought I was approved, which I never had to get since I moved into the house. And all I asked of them was to keep me informed as to how the loan was going, if not on a daily basis a weekly basis, and I had to beg them to do that.

Now here it is 45 days later to be exact and they called to tell me I've been turned down. What I don't understand is how can you approved me in the beginning and turn me down at the end. Now I'm in a worse fix then I was when I first talked to them. Poor business ethics. Buyers Beware, don't pay for anything until you are abosolutely, positively approved. The loan processor Melissa Richardson only called me when she needed something, other than that I didn't hear from her. I was sent a packet of forms to sign, date and return, with what my new interest rate would be, what my payments are going to be, and when they will start, so what else would a person to believe other than they are approved. I've called to try and talk to the office Manager Chad Jones, and he won't return my call or emails.

CASTLEPOINT MORTGAGE IS A BAD COMPANY TO DEAL WITH, I GUESS I SHOULD HAVE READ SOME OF THESE COMPLAINTS BEFORE I STARTED DEALING WITH THEM. I'M ALSO REPORTING THEM TO THE BETTER BUSINESS BUREAU IN THEIR STATE AS WELL AS MINE.

The damage now is I'm furhter behind then I was when I was first contacted by them, I still need to refinance, but now no one else will help for 6 months to a year from now.

Diane of Massapequa Park NY (04/15/08)
I had filed a complaint against Castle Point mortgage for an appraisal fee they had not refunded me. Once I filed the complaint they finally did issue me the credit for the full amount.

Martha of Atlanta GA (04/14/08)
Took out a debt consolidation loan on my house which I owned free and clear. I only wanted to borrow $50K for repairs, payoffs and renovations. I was told by Lynn-Marie that the lowest they could finance was $80k. To make a long story short, it took 8 months to finish the paperwork, things had to be faxed and refaxed, and in the end, I came out with an $80K loan, $880 monthly payment (on a fixed income of $1400/mo), and an 11.875% interest rate. Just like the other post, no more that a month later, Countrywide purchased the loan and now I am struggling to keep my home. AVOID BOTH COUNTRYWIDE AND CASTLE POINT AS IF YOUR LIFE DEPENDED ON IT!

I am currently struggling to make the payments and it is a toss up ususally between the mortgage and utilities. I am 62 and retired...I should be relaxing and enjoying life.

Christopher of Middletown DE (03/24/08)
In January 2007, my wife & I did a refinance loan with Castle point mortgage. The loan officer that we worked with through the process was Nick Z. We had to take on this loan because of our credit situation with the intentions of only being in the loan for 6 months with on time mortgage payments according to our loan officer (NICK), in which we did so. Our interest rate is 11.875% 2 year adjustable.

We have been in this loan for 1 year and 3 months, and we are struggling to keep our home! We are are now in a forbearance plan and we are still struggling to make these payments. We have been trying to refinance with other lenders, but because of the forbearance plan and not being current with our mortgage, no lender will touch our loan. We have plenty of equity and can't refi! I know that Castle Point Mortgage took advantage of us! I've been calling them for aid and they just tell us that their unable to help us. Well Castle Point did not make our situation better, they made it worse. We are at our wits end!! I don't know what I'm going to do to keep my home.

I'm currently in a forbearance plan & do not know how I'm going to get caught up with mortgage payments, my wife has lost her car due to these high mortgage payments and she works 55 miles from home, this is not helping our credit rating at all!

Rose of Chicago Heights IL (03/03/08)
I had just gotten out of bankruptcy and I wanted to refinance the house to make some repairs. I didn't know if this was possible so I went on line to see if I could get any information about. The first call was the employee of Castlepoint named Angela. She told me, oh sure we can work something out. She would call me day and night to see what she could do for me and finally I called her back and she asked for all this information which I gave her. She told me, let me go to my underwriters to see if she could get an approval with cash out. Within minutes she came back to say that I was approved with cash out and she told me the only thing I would have to pay for was the appraisal.

She asked me for a cc# which I didn't give her but I did give her my bank account number, silly me. Little did I know that the were going to deduct money from my account that very night. Sure enough when I notice my bank account was short, I checked around and come to find out that they had deducted $350 from my account. I called her back and told her I had not given her permission to deduct that money and she told me sure you did, I told you the only out of pocket would be the appraiser fee. I was under the impression that if they did the appraisal that they would at least let me know that they were going to take the money out. Then they asked for all this paper work which I sent them and within an hour they called me to tell me they were sorry, but they were not going to be able to help me with cash out because my house had came in less then expected price. I know the amount they said was not right because I had a friend of my come and check out my house and they said it was worth more. What a scam the take your money and put you more in the hole then before.

I now have to try and figure out (1) How to make up the $350 that they took. 

Fred of Toms River NJ (02/02/08)
At first I worked with Castle Point Mortgage. I owned this house with a partner for a few years, so I had equity in the home. I had to get his name off the house, so I found Castle Point Mortgage, and they worked on a loan that I could afford. The day of the closing came, and my % rate went up to 12% with a $1600 + payment, when I only make $1400 a month. I called them; they said "Take or leave it--that if I make three payments they will get me a new mortgage." One month into the loan they sold it to Countrywide Mortgage. I've been trying to work with them, but no help; my house my be going in foreclosure because they misled me. They over-inflated my paycheck to make look like I made more them I did; so now I'm losing my home.

Laroyce of Torrington CT (01/01/08)
Maggie called and said that we are eligable for a refinance and that GMAC was going to waive the prepayment penalty. We would not be responsible for any fee's but the appraisal fee, which I paid that day over the phone so that the appraiser could come out. I had a ton of questions and Maggie always answered in a roundabout way. To make a long story short, Castle Point negotiated a short sale with gmac. This was not disclosed to me. I was told it was a refinance. We certainly did not qualify for the short sale from the research I have done. Our mortgage was $188,000, our appraisal came in at $255,000. We have mutual funds and were not in jeopardy of losing out home.

It was not until after the closing when I called GMAC to make sure payment was wired that I found out that only $172,000 was paid and accepted as payment in full. There was a deficiency of $16,000. I will have to pay capital gains on that now. I would never have authorized such a thing. The lending practices of this group is underminding. Their title company Royal Settlement, owned by Castle Point, paid themselves out of my mortgage money over $12,000 in fees! I was not supposed to be responsible for any fees but the appraisal which they also paid themselves for again after I have already paid. I contacted the Attorney General in Connecticut and am now awaiting to see if I have any recourse. Can I sue and get my mortgage completely paid for? Can I get the $16,000 that was shorted? My credit is worse off due now our GMAC mortage shows up as credit granted excepted less for payoff. I was mislead in so many ways. I saved all emails that verified what they stated to me and I also faxed the attorney general my loan documents as well. Has anyone had a similar experience? Don't use them. They will only hurt your credit , not help you.!!!

My credit report is now showing that my mortgage was paid off with less then owed which is just as damageing as a reposession or forclosure. We work so hard and were taken advantage of terribly. Now I am in a deeper hole!!

Anna of Naples FL (12/17/07)
I went through Castle Point to refinance my home. Now, my credit wasn't so hot before all this. Bryan told me that we could refinance, taking money out to pay off our car payments, and some of the medical on our credit. I thought that this was a wonderful deal. The interest rate was even .25% lower then what he quoted me over the phone. He gave us extra money to help keep up with the payments since they went up by $1,000 dollars more a month. He told me that within 6 months of this refinance that our credit score will have gone up considerably and that we could refinance to bring down the interest rate. Day before closing he called me, I verified all information, and I asked to make sure that the payment he told me it was going to be, was with escrow. He told me that it was. So after the six months, with no money left to help pay the mortgage, here we are right now stuck into a loan that we can no longer afford. We are worrying if we are going to lose our house now.

I called Castle Point back when he told me to. And they tell me that there is no escrow account, that our credit still is terrible, and they can't help us. And we have even called around, and no one can help us out of this current situation. I was told I was better off selling my home, using the equity left over to pay off my credit score and buy a smaller house that we can afford, when our house is small already, with a 6 year old running around.

Castle Point put us in a worse position then we were in. Foreclosed upon with no roof over our heads, we can't even afford to buy food for our daughter or ourselves because of all this.

Debra of Parsippany NJ (08/18/05)
I contacted Castle Point Mortgage to get a Home Equity Line. At the end of the first call I was told I will send the file to Underwriting today for a preliminary approval. Sounded good to me. To my surprise there was the old by the way... By the way he needed my bank account number! When I asked him why he said he can't submit a file without it as it would come back incomplete and thus a preliminary approval would not be granted. I told him I can give him an account number for an account that I don't use but why does he need this? He told me that they money would be automatically deposited into my account upon loan approval and that they would likewise do an appraisal and take the money right from my account.

I said absolutely NOT! I will not pay for an appraisal since I had a recent one. He said okay fine but he needed the number for the file to be considered complete. Again, I said I can give him an account number where there is no money and that is fine to make the electronic deposit into this account but I can NO PERMISSION to take money out.  I got a phone call from an appraiser and she said she had a work order from Castle Point Mortgage. I explained that I would not be paying for any appraisal and that Castle Point was aware of this. She said I don't pay her for the appraisal and not to worry, if Castle Point is requesting it, they pay for it.

I allowed her into my home to do as she must. No sooner did this happen, I got a notice from my credit union saying I was being charged $25.00 for a bounce fee. It seems Castle Point tried to withdraw $350 from my old checking account! Furthermore, they never did my loan, insisted on obtaining more personal information about me, requested deeds for my two homes and lots of other stuff that I thought was odd AND they never did my loan! I never even say any appraisal and was told the appraisal was done and the amount was $505K but the appraiser ran into some problems and she didn't submit the actual appraisal as of yet. I NEVER GOT ANY APPRAISAL yet they without authorization took money from my checking account and have sent this issue to a collection account.

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