I will be updating the number of stars in the next few days. Approximately 7 weeks ago, I received an email from "Manny" so after being turned down by another Lender, called Manny just to inquire. He said that it was worth a try and he would see what he could do. I told him everything pertinent to my situation and said that he may be able to help and that if he could not help at this time, that he would tell me how to qualify in the future. At his request, I sent him many documents, with personal information, then he requested more documents, then more documents and each time sent him everything he requested. My original call to Manny was approximately 6 weeks ago and to this day, still do not know if the loan was approved and in the meantime, my credit score went up dramatically and am receiving pre approved offers in the mail with expiration dates. The past two weeks it is like he fell off the face of the earth. Does not return calls. When he is able to be reached by phone, he says he will check and call back the same day. This happened at least 3 times. Today is the last time he said he will call back. Again, a message was left for him before closing time and a female said that he was in a meeting and she would have him call after he got out of the meeting. Once again, no phone call. Now. Perhaps my application is a difficult one. Perhaps Manny is just too busy to handle all of the applications and the company needs to get him some help. At this point I am giving Manny the benefit of the doubt. At this point, I don't care if it gets approved or not. I just want an answer so that I can move on. A quick email takes less than 30 seconds. ANYONE reading this review, PLEASE do not take this as my final review. I am waiting another day or two, then my review will be updated.
****Update: The day after I wrote this review, Manny called and spoke to my Authorized Relative. He said they could only approve $30,000 cash out (would not even cover Liens on house) which I figure to be 20 to 25% Loan to Value, but he said that he could refi my other two homes to get more cash out? On one of the properties, he said that they would qualify me for an 8.5% or 9% interest due to reported late payments from debt not even in my name. Now, why would I consider going from 5.75% to 9%? He said that he would check with the lender to see if anything could be done. Two days later, No word. No email. No message from Manny, then, he said that he wanted one full year of bank statements. I gave up. They wasted enough of my time. **UPDATE, finally, almost two months after my first inquiry, not a call not an email, but a letter stating that the loan was denied. Thank You for wasting almost two months of my time. My original review is still one star. If there was an option for less, I would give less. My rating is not due to the fact that they finally denied it, but rather for taking so long to deny and the lack of communication. read more
