All Forum Posts by: Timothy Ortiz

 I agree. What bothers me is the time they wasted.  I kept telling them that I did not have confidence in them closing the loan.  If they had denied me in the 1st month I would have respected them.  What irks me is the reassurance that they would close the loan, they emailed Lima One asking for payoff, then lying about why they denied the loan.

I contacted a different lender and I explained what had happened.  The new lender stated you DO NO HAVE ANY MISSED PAYMENTS IN THE LAST YEAR (recent). I'm going to file a discrimination complaint.

Loan Depot is by far the most incompetent lender I have ever dealt with. I started a refinance on Sept 9, 2019 with an appraisal that had been completed on July 2, 2019. The staff said we could use the appraisal because it was less than 120 days old. Loan Depot kept asking for more documentation of the appraisal even though they had all the paperwork.

The appraisal expired and a new appraisal was conducted on Nov 27, 2019 and submitted to Loan Depot on Nov 30, 2019. I had serious doubts that the loan would close and I repeatedly told the staff that I should get a new lender due to the amount of time the refinance had already taken.

Loan Depot kept asking for pay stubs, bank statements and mortgage statements over and over even though the documents had been provided multiple times.

I told Loan Depot I would find a new lender and they reassured me through emails and phone calls that the loan would close before the new year. It was always along the lines of, “we’re just about finished it should be another week.”

Loan Depot also changed the Loan Estimate multiple times, adding points and lender fees, that were not originally agreed upon.

The loan did not close in 2019 and we entered 2020. On January 6, 2020 I was asked via email if I would be able to sign for closing on January 9 or January 10. I responded that I was available, but low and behold I never got a call or further communication regarding closing.

On January 24, 2020 I received a text from my Loan Officer that the refinance would not close due to a recent missed mortgage payment. I checked my credit reports with the credit bureaus and there were not any recent missed payments. Recent is considered within the last 12 months for government backed loans. I asked Loan Depot if they could provide the report that has this missed payment or tell me what company was reporting as missed. They could not provide this answer, because there had not been any missed payments in the last 12 months.

By far this is the worse company I’ve ever dealt with. Lack of communication, lack of ethics and lack of transparency. A loan should never take longer than two months to close especially on a refinance. Here we are four months later after being guaranteed the loan would close.

Loan Depot has costed me time and money and I would not recommend them to anyone looking to buy or refinance.

@Brenda Chen I'll be there. Thank you

The deal will be financed by the owner, but you're right the interest is way too high.  The gas meters and water aren't all subdivided.  The taxes are based on what the seller sent me.  Not sure about how much the closing costs will be as the owner will be carrying the note.

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*This link comes directly from our calculators, based on information input by the member who posted.

 Thank you. I will adjust

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*This link comes directly from our calculators, based on information input by the member who posted.

@Dulce Beltran I bought a Model 3 in December when the full tax credit was available.  I like others buy used, but the numbers did make sense.  I used the 7.5k tax credit before it was halved, I qualified for the 4.5k California rebate because of my RE depreciation putting me in a lower tax bracket, $800 PGE rebate and I also currently have solar in my home.

I think the car drives great and I love it.  People here mention parts, but remember there are very few to replace.  You can compare the battery to a new engine, eventually it will need to be replaced.  If you're set on buy a NEW car at that price point the Tesla is a great buy.  If you can get a used luxury car for under what your numbers say including maintenance, gas, etc... then go that route.

Thanks for all the wealth of knowledge.  These are my 1st rentals, I have four of them, and I'm learning a lot on this forum.  The ring door bell sounds like a good idea.  

It's a SFR. Someone started banging on the door a few times (same person) and she got spooked. She's paying slightly above market rate for the unit and that's why I'm trying to take extra precautions.