I went through this mortage company and dealt with a so called mortage specialist by the name of chris stoleburg. I wanted to refinance my 4 plex apartment building with just enough over head for a down payment on a home for me, hubby, and 3 kids. Well I will be honest they did get the loan through. With enough for my down payment on another house and the money down they wanted for the first loan. This took over a month, and the whole time the loan specialist assured me that we CAN do a loan on the home you want, with no questions asked and no problems. We signed the paperwork for the loan on the 4 Plex. Mind you he said that the loan for the home was being processed as we speak and that we would be closing on our 2nd closing date we had to set on the house due to delays. He told me, hubby, my grandfather (whom I originally had my apts mortaged through), real estate agent, the owner of the real estate, and the titling agency the loan was approved and we will be closing on our closing date. So we signed the paperwork on the first loan, on that loan we had a 3 day right to cancel. I called him on the last day I had to cancel and he rest assured everything was good to go for the home we wanted, and we would still be closing on our set date.
So up to this point we had to change the date of the closing twice up to this point. I had people waiting for the apt that I was currently living in. I had items packed, insurance ready to be set up, arrangements with work, and all the stuff people normally do. The so called loan specialist called me the day after the last day I had the right to cancel to tell me the loan wasent going through.
That is just WRONG!!!! That is just not an oopsie!!He seemed to think there was nothing wrong with it! That is more than dirty to wait till I can cancel on the first loan to tell me oh we can do nothing on the other one. Then he refused to take my calls, or return any.
So I thought on a fat chance maybe I would be able to talk to someone above him. His office assured me they would have someone call me. HAHAHA NOT, of course I had to call several diffrent numbers, and the first person I spoke to tried to make all diffrent kinds of excuses for him. Then I got passed to someone else, he was a bit more helpful, but through him I found out someone doctored my bank statements I faxed them!!
To try and make this short since I could go all day with this. They said there was no way they could do the loan, and if they couldnt do it they didnt think anyone else could.
Glad I had a excellent real estate agent, she referred me to Countrywide Home Loans. Well I wish I would of found them while I could've with the first loan. I now have my house, with almost nil down, one of the lowest closing costs I have seen, and we closed in just under a month with great intrest.
As far as northwoods mortage I would NOT recommend to anyone. They have obnoxious rates, bad customer service, and hidden crap in thier paperwork.
I myself have been waiting almost two months for the paperwork I was promised when getting my loan. I am stuck with a loan that has a prepayment penalty if you refi in under two years, and a bad taste in my mouth for this place. I will not be returning to them in the future!