I advise anyone attempting to work with cornerstone to BEWARE and reconsider working with this company. Unless, you want to live the nightmare that I have experienced, turn the other way and run from a possible unpleasant experience.
I was not in the market of purchasing house, but there was a property that I had been eying before it came onto the market. So, when it did I contacted a realtor and explained my financial situation. I had the means to purchase the house, but I had a lot of outstanding debt that I had open for family members. I explained that if it was not possible; I was not looking to purchase another house or attempt to complete the transaction because I had a home that I only $58,000 and I was happy where I was at.
I just wanted more property, so if it was not possible it was what it is. I had tried to work with another Loan officer (LO), but he was not receptive on reviewing or working with my situation. So, my realtor and I decided to work with Sophia at Cornerstone, who stated she could work with my situation. I was upfront regarding my situation and she stated she could work with my file.
She explained there were several obstacles; however we could work them out. Once, we began the process I provided my documents on a timely manner, usually within 24 hours. I also, moved accounts as Sophia directed and within 24 hours. I put my house on the market and I received multiple offers within 24 hours, so I stressed to Sophia it was imperative that she review my file and inform me ASAP if there was a possibility that I unable to be approved.
Sophia explained that our biggest obstacle would be refinancing my daughter home to her name. In the process of trying to get my loan approved; the individuals who were purchasing my home hit an obstacle of their own, so again I attempted to contact Sophia to inquire if she could foresee any issues with the purchase of the home I wanted. Sophia did not respond to me that week via email or by phone. When I complained to her, her excuse was that she was in the hospital, which I apologized for being upset.
Sophia stated she was not in the office, but she would contact me later. She sent me an email the next day stating the loan process was going great. Again, the individuals purchasing my home had another issue arise and they had to extend the closing date, so again I asked Sophia how was my file and when she anticipated a closing date for my new purchase? I was informed that I would be closing on Monday 09/26/16, so I agreed to extend the closing of my home to Wednesday 09/21/16.
Then Friday (09/23/16) before we were scheduled to close on my new purchase, Sophia’s team emailed because she was out again requesting nine additional documents; including my bank and pay stubs. Since, Sophia had my file since August all my documents were date in July. I was also informed that the appraisal for my daughter’s house had not been completed. Well, my file finally went to the closing department and after everything was complete and approved financially, my loan was denied because the appraisal to my daughter’s house came back lower than anticipated.
I was also promised that I would be credited for the monies on my extension.
So, needless to say not only am beyond LIVID and HOMELESS I am SOL on the money I invested into this property. I sold a home that I only owed $58,000 and I do not have a home for my grandchildren because Sophia dropped the ball and did not order the appraisal in a timely manner and all she had to say was “she did not force me to sell my house and I knew I had a previous LO who could not help me.” So, RUN THE OTHER WAY.
Product or Service Mentioned: Cornerstone Mortgage Loan Officer.
Reason of review: Problem with delivery.
Monetary Loss: $500000.
Preferred solution: Deliver product or service ordered.
I didn't like: Nightmare, Customer service.