I was in need of a loan to purchase a house. I had some money with me to do the initial booking and needed loan to cover for the rest of the amount. I talked to Ray from Westshore Mortgage & Investment co. He advised few options and I did not like any of those. Hence, he asked me to come the next day.
As per the discussion, I reached his office in the afternoon and he was not available in his office. I called him, and his phone was not reachable. I waited for three hours as the staffs kept telling me that he would be arriving any minute.
After spending three hours, I left. The next day, I got a call from Ray saying that he was not able to make it the other day because of some urgent meeting and he can meet that day. So, I again foolishly went to his office.
I again had to wait for 2 hours. This time, he did arrive after keeping me wait for those hours. He gave me a plain paper with some pointers on it. It was the plan of loan that he was proposing to me. It was a rough plan and he said that if I liked it, he will ask his staffs to prepare the documents accordingly.
The rates were cheaper, and I liked the plan. After so much of trouble, I at least felt that this guy was trying to help me. I agreed to the loan offer and he provided the list of documentation he needed. He said that the loan offer is great, but the processing fee would be a bit high for that specific offer. I agreed to that as well. According to the rates, I was still making a huge profit out of the proposal.
After a week, I was called to sign the documents and submit the paper and documents. I reached their office the first thing in the morning. I already had all the documents with me. I submitted the documents and signed wherever these guys asked me to. I did not bother about comparing the rates that Ray proposed to me the last day.
The loan was processed. The first month when I received the EMI details, I was shocked to see that the rates were what Ray proposed the first day. I right away checked the copies of the documents I had signed, and it reflected the same high rates. I paid an elevated processing fee for what.
Later, I called Ray and he said that his staffs would have made the mistake and he said he would take care of that. He assured me that from next months onwards, the rates problem would be fixed and I should not worry about anything.
I again fell for his sweet talks. The next month, I got the same rates. I called him again and he said that it would take few months to adjust the rates. It is been a year and I am paying the rate that I never agreed on. This company is a scammer.