MORTGAGE REDUCTION GROUP

VIC GAVE US A GOOD FAITH ESTIMATE (GFE) FOR 6.5% INTEREST. WE TOLD HIM THAT WE WANTED AROUND $5K AT CLOSING, WHICH HE SAID WOULD BE FINE AND HE WOULD LET US KNOW AS SOON AS HE HEARD ANYTHING. APPROX. 2 WEEKS AFTER HEARING NOTHING, I CONTACTED VIC, WHO SAID HE WAS OUT OF THE OFFICE AND WOULD CALL TOMORROW. 3 DAYS LATER I RECEIVED AN EMAIL STATING THAT HE WAS OUT SICK AND WOULD MAKE SOME PHONE CALLS TO LOCK OUR RATE. THEN NEXT DAY VIC SAID THAT EVERYTHING WAS GOING AS PLANNED, ASIDE FROM A SLIGHT GLITCH AND HE WOULD CALL AFTER HE GOT A FINAL GFE FROM THE LENDER. WE SPOKE AGAIN AND HE GAVE ME THE IMPRESSION THAT THINGS WERE GOING WELL. THE NEXT DAY HE SAID THAT CHRIS, THE LOAN PROCESSOR, WOULD EMAIL US THE FINAL GFE. THIS NEW GFE HAD NO CASH BACK + INTEREST OF JUST UNDER 9%- THAT'S A 2.5% DIFFERENCE! VIC LIED TO US BY MISREPRESENTING THE DEAL AFTER HAVING KNOWN THAT HE COULD NOT MEET THE TERMS OF THE ORIGINAL GFE AND LIED ABOUT BEING ABLE TO GIVE US THE DESIRED CASH BACK AT CLOSING.