AM I BEING SCAMMED BY HML?

[Alec Hilliard]

Hey guys, we started the process of getting a HML back on Oct 29th. They said our property was good and they accepted it.

We moved forward with all the docs needed.

To even do the app there was a $200 fee (that I'd get back on the HUD)

Is this even normal?

Anyways, I couldn’t choose my own appraiser, I had to use theirs ($900)

I was gonna meet the appraiser at the house the day of but his car broke down so I wasn’t able to meet him and he went by the day after while I was tied up.

Closing was Dec 5th and they said we’d be done by then, but it wasn’t. I had to borrow family members money to close because we couldn’t push back closing with title.

($65k)

Needless to say, they still aren’t done and on Dec 10th - their “underwriters” demanded $95 to “continue the process since it’s taken so long”. I paid it.

Is this right?

And then they told me “no doubt it’ll get done before the new year”

Well, here we are on Jan 2nd and I get a call today that I need to send $300 more and it'll get put back on the HUD or they are gonna close the file immediately.

I’m starting to feel real sketched out by all of this now.

All the while, they've been delaying because "contractors plans aren't clear for ARV" ... even though I've sent layout, and drawings and contract with the contractor.

Any advice would be great.

$65,000 buy

$70,000 rehab

[Greg Scott]

Too many red flags here.   I'd cut bait.

A good HML is used to quick closings. Their entire operation should be set up to get things done fast. It doesn't make sense to me that they are charging you to extend the process when they are causing the delays.