Complaint #1530682 submitted on 08/21/2015 relating to Weichert Financial Services. Complaint relates to Mortgage Conventional fixed mortgage - Loan servicing, payments, escrow account .
Complaint was submitted via Web and sent to the company on Friday 21st August 2015.
When I bought my house, I was persuaded by the low monthly payment XXXX {$1600.00} per month XXXX. I had a 30-yr fixed mortgage at ~3 %. In less than one year, that increased to more than {$2300.00} per month. I was told that the ( escrow? ) costs were underestimated and because the seller had made major improvements before I bought it, the taxes were increased. The realtor XXXX Weichert in New Jersey XXXX had not mentioned this to me at all prior to my purchase, even though I 'm a single woman supporting a family by myself. I complained but they told me it would go down later. It did go down a year later, but to {$2100.00} per month, still much greater than the {$1600.00} per month that I thought would be my monthly mortgage burden. Weichert of course knew I made ~ $ XXXX per year, and that I had substantial cash savings and no debt ( other than the house mortgage ), so they thought it was no big deal if my costs went up because I could afford it. They also unilaterally made a bid on this house that was higher than the bid that we had agreed to on the house, based on the neighborhood comps. Again, they just wanted to close the transaction ( this was almost 3 yrs ago when the housing market was still struggling somewhat because potential buyers were being rejected for mortgage loans XXXX. What Weichert did was completely reprehensible, if not illegal. They breached their fiduciary duty to me out of their own greed. I would not have bought this house had I known that my monthly payments would be this high.
| Company | Weichert Financial Services |
| Complaint ID | 1530682 |
| Date Received | 08/21/2015 |
| Product | Mortgage Conventional fixed mortgage |
| Issue | Loan servicing, payments, escrow account |
| State/ZIP Code | NJ 076XX |
| Consumer Consent | Consent provided |
| Company Public Response | Company believes it acted appropriately as authorized by contract or law |
| Company Response To Customer | Closed with explanation |
| Submitted | Web 08/21/2015 |
| Result | Timely Response: Yes, Consumer Disputed: No |
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