Complain about a product or service

Castle Point Mortgage

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 April 15, 2008

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 April 14, 2008

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 March 24, 2008

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 March 3, 2008

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 February 2, 2008

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