The Money Source Inc Mortgage Complaint

The Money Source Inc Mortgage department,

FHA mortgage Application, originator, mortgage broker New Jersey

In - -/-/- I received a phone call from - -, Mortgage Loan Originator for the Money Source, who currently hold my mortgage. The call was to advise me that I qualified for a reduced rate on my mortgage and that I could refinance. The rate offered was -. I currently have a rate of - and that the closing would take place before -. I followed all the necessary steps that was required. No closing date set. This went on for almost two months. I received an email from - - was to advise me that I would refinance for a 26 year mortgage instead of a 27 year mortgage, which I had no problems doing. The last notification from - was on - -, advising that the loan would be done in - as they could not close before - which was the planned date. I was NEVER told that the rate would expire. He advise that right after the holiday we would be able to close. As of today, - -, I had not heard back from - I sent an email to his account. I received a phone call from a - - of the Money


Please note the following : I was never notified that the rate had not been extended as - - did not advise me of that face. Secondly, No one at the Money Source had the professional courtesy of calling, writing, emailing or even texting me of the above set forth. I am of the opinion that the money source has acted in bad faith. They have taken advantage of the fact that the interest rates were going to go up and dragged this refinance account through the beginning of - to then advise that it was denied, when through the months of - until - it was available. - - also felt the need to advise me that if I were his client, he would have made sure that I knew in advance of what was happening. Furthermore, that I was not the only - left in this predicament. I continue to have my mortgage with them and am in good standing with them but they have certainly left a very bad taste.