Hi.
Back in late 2003, my wife and I got a phone call from a mortage company.
Their pitch was asking me how I would like a free kitchen remodel, dream vacation, or persian rug. I listened and the said that after the refinance closed, we would receive whichever we chose.
I met with them shortly afterwards in their office to listen to their proposal. They were going to refinance my first at 1.25%. Since I was paying 7 3/4% (or somewhere around there), I thought it sounded good... even though I would be paying a prepayment penalty.
Also, while in their office, the marketing guy that original called me came by and gave me a flyer/brochure which stated the same "incentives" he mentioned to me on the phone. He also showed me a list for a dollar value of these incentives based on the amount of the refi.
The loan they got me was pretty good. However, the only reason I went with it is the great rate and promise of a free vacation.
The process has been extremely bumpy... needing to fax and refax identical information, getting a promise that the loan would fund at a certain time and causing me to be close to going default on my original first. Lucky that I got a call from the original lender saying they received nothing and that I was still responsible for the payment. I sent a check to them the same day and called the broker about what was going on. They apologized, saying the bank was being slow.
Fine and good, but they never called me to say the bank was being slow.
Anyway, the loan finally funded around late January or February.
We chose to have a dream vacation. Disney Cruise for myself, my wife, and my son. In April, I hadn't heard anything from them,so I called and they were going to send me information on a trip and a voucher for the travel agency they work with. All I received in the mail was a DVD plugging the cruise. It is now August and we still have not received our promised incentive. I called them last week and found out the original marketing guy left. I mentioned to the new guy that we never received our trip. I mentioned that we decided to go with the kitchen upgrade instead. He was going pull my folder and go "talk to his boss and get back to me". Well... it has been three days now and I haven't heard from them yet... as usual.
Seems to me they got what they wanted from me, a refi... I'm thinking that they are hoping I'm going to forget about the trip.
Anybody have any ideas on what legal options I have available to me?
Again, I have the brochure that states these incentives.
Thanks!
--Steve
Back in late 2003, my wife and I got a phone call from a mortage company.
Their pitch was asking me how I would like a free kitchen remodel, dream vacation, or persian rug. I listened and the said that after the refinance closed, we would receive whichever we chose.
I met with them shortly afterwards in their office to listen to their proposal. They were going to refinance my first at 1.25%. Since I was paying 7 3/4% (or somewhere around there), I thought it sounded good... even though I would be paying a prepayment penalty.
Also, while in their office, the marketing guy that original called me came by and gave me a flyer/brochure which stated the same "incentives" he mentioned to me on the phone. He also showed me a list for a dollar value of these incentives based on the amount of the refi.
The loan they got me was pretty good. However, the only reason I went with it is the great rate and promise of a free vacation.
The process has been extremely bumpy... needing to fax and refax identical information, getting a promise that the loan would fund at a certain time and causing me to be close to going default on my original first. Lucky that I got a call from the original lender saying they received nothing and that I was still responsible for the payment. I sent a check to them the same day and called the broker about what was going on. They apologized, saying the bank was being slow.
Fine and good, but they never called me to say the bank was being slow.
Anyway, the loan finally funded around late January or February.
We chose to have a dream vacation. Disney Cruise for myself, my wife, and my son. In April, I hadn't heard anything from them,so I called and they were going to send me information on a trip and a voucher for the travel agency they work with. All I received in the mail was a DVD plugging the cruise. It is now August and we still have not received our promised incentive. I called them last week and found out the original marketing guy left. I mentioned to the new guy that we never received our trip. I mentioned that we decided to go with the kitchen upgrade instead. He was going pull my folder and go "talk to his boss and get back to me". Well... it has been three days now and I haven't heard from them yet... as usual.
Seems to me they got what they wanted from me, a refi... I'm thinking that they are hoping I'm going to forget about the trip.
Anybody have any ideas on what legal options I have available to me?
Again, I have the brochure that states these incentives.
Thanks!
--Steve
