Business ProfileforInteractive Mortgage

If you are here and reading this review, you are lucky that I have saved your money and time. I did the mistake of not searching them here in BBB. These guys are real scammers. They lure in customers with some small advertised rates and get the refi process started, later they will increase the rate when you are close to closing of the loan and will be forced to take their higher rates as you would have lost all the time. The agent who may talk really sweet initially, will not respond to your calls/emails during the process, and make sure you are deep in to the refi process and can close only with them even with the higher rates. If you check the reviews here on BBB, everyone is talking about the same thing here, which I too personally experienced. Would highly recommend to avoid them at any cost and save your time and money.I had reached all the way till their execs to get my issue resolved, and they won't even care to give you a call or talk to you. They don't care about their customers at all, and all they do is to get people in with such advertised "special rates" and then change your rates right before closing the loan with some excuses like market rates have gone up during the process or lock has expired etc. Every review in here talks about the same experience about this company, and I am sure few 5 star reviews here are fake ones or employee written ones.

We apologize for any frustration and inconvenience that was experienced by Mr. Veedan during the loan process. We can confirm that at no time did our company mislead this or any other borrower. Unfortunately, rates change and the market is sometimes unpredictable. Here, as is not uncommon, there were questions from underwriting that needed to be resolved before the loan could move forward. As happens sometimes, which is disappointing, the questions were not resolved before the rate lock expired and the rates moved. Our team worked to attempt to secure the lowest rate possible after the open items were addressed. We were still able to offer a very competitive and low refinance rate however Mr. Veedam chose not to move forward. Again, we are sorry that Mr. Veedan is unhappy with our service. We strive to offer professional services and competitive rates for each and every customer.

My whole complaint and frustration was that, if there were questions from underwriting and if my loan was on hold, why it was not communicated to me on time? Why it was deliberately hidden from me until my rate lock expired? If I could resolve their concern after the rate lock was expired, I could have done that before too if you would have communicated this to me on time. It was deliberate bait and switch approach to increase my interest rate during the refinance process, like many others have complained too here in BBB. Very bad business practice indeed!