First Guaranty Mortgage Corporation Mortgage Complaint

First Guaranty Mortgage Corporation Mortgage department,

FHA mortgage Application, originator, mortgage broker Florida

I refinanced my mortgage -/-/2015 with First Guaranty Mortgage. The loan officer told me that if I refinance, the MIP on my FHA loan would be reduced and the overall monthly mortgage payment would be lowered. He gave me an estimated monthly payment and after the refinance I started paying $1800.00 per month. -/-/- I received a letter from the loan servicing company ( - ), that my mortgage will be increased to nearly $2300.00 due to escrow increase. On contacting - for an explanation, it was revealed that I was basically lured into a refinance that turned out to be non-beneficial to me. I was quoted a low monthly payment to refinance then later faced with a large increase in monthly payment. If I knew that my payment would turn out to be so much then it would have not made any sense to spend the money to refinance. This practice is deceptive. I now have a higher overall loan balance and a longer payment term for a refinance that turned out to be senseless.