AmeriSaveReviews 230

My AmeriSave Complaint:
I wanted to refi my 1st only and leave heloc open as it is estranged husband's debt. I specifically asked prospective lenders if they are willing to subordinate the loan with the holder of the 2nd. I even asked if there was a situation where they would not subordinate. They only said "it just depends on the other bank's policy regarding subordination."
The loan-to value ratio is an incredibly low 16.7%! My credit rating is 780. After three weeks of the most rigorous document demand of any closing I've ever been through (including 3 business property closings) they denied me because the heloc had a pre-payment penalty. They won't subordinate when there is a pre-payment penalty. They conveniently forgot to tell me that when I *very specifically* asked about subordination and what would prevent subordination.
Two bankers at Wells Fargo told me AmeriSave never even *requested* subordination, only *payoff* information. Secondly, I'm in the 2nd year of the heloc and the pre-payment is a whopping $500 at this point. And besides, *I was not going to prepay*
Can you say *smoke screen* *only interested in the up-front fee*? Plus they recently lost a lawsuit regarding other misrepresentations. Beware! If already in process get a Buyer's closing attorney and owner's title insurance to protect yourself at the very least!
BBB Complaints (despite questionable "Grade")
According to the Better Business Bureau, Amerisave mortgage had 145 complaints filed during the past 36 months and only 57 of them were resolved in twelve months. Searching Google for Amerisave mortgage complaints reveals 684 listings, which could be worth your time in reading.

I applied with Amerisave for a mortgage refinance and was told by the agent I wouldn't qualify. A second agent call and told me I would qualify. He accepted my application and told me he would not charge me for the credit report or appraisal until after I was approved. He, then called me again and told me he couldn't represent me because I was the property of the first agent. My credit card was charged $35.00 for a credit report and the appraisal was cancelled. The credit report was not done because I had locked my accounts, but Amerisave would not issue a credit and I had to dispute the charges. Several months later the charge was deleted from my account. Not a good place to do business.

This company shows tables for all types of financing. When you select the interest rate you would kike it shows you the cost, problem is the shown cost is for the ideal credit score and financial picture. You don't find this out until you have paid 35.00 for a check on your credit score, after paying and finding out that the closing cost had becme five times higher than first quoted i felt taken advantage of, there should have been a notice making customers aware of the fact that their costs, in most cases, will be higher than their tables showed.it compares to the old bait and switch tactic. Stay away from this lender. What they are doing may not be illeagel bot it is shady at best