This was a nightmare, start to finish. Unfortunately, there are some really good people At Bookspan Baker Team – Cobalt Mortgage, who are helpful, but sadly, it doesn’t make up for the mistakes and issues we had along the way. 1).
They misquoted the good faith statement, informing us that we only needed to bring $2500 to closing.
A week later, I hear back saying “Oh, oops. We actually meant about $4700.”
Not just a few bucks, but a $1200 difference. Not minimal, not excusable.
How many people should have looked at that to verify everything was OK? Clearly not enough. 2)
After closing, we received a letter informing us that our homeowner’s insurance would be cancelled, due to non-payment.
Well, of course, we fronted the year in full at closing, so where did our payment go?
When I called title, they informed us that Cobalt told them to send it to another insurance company, not ours.
So now, there’s a mysterious $312 payment floating out there in the abyss.
When I asked title how this could happen, she told me, “Oh, this happens with them ALL the time.” Fabulous.
The people there are (for the most part) extremely helpful and willing to walk you through anything you need.
However, it doesn’t make up for everything that happened (these are just two instances).
I hope they sell my loan ASAP so I don’t have to deal with them for much longer.