Who Did Your Mortgage?
If you have a mortgage originated by Paramount Equity Mortgage in last few years, I urge you to seek advice on whether you have these very serious violations existing in your documents. It's very likely you DO.
When you got your mortgage from Paramount Equity Mortgage, did you have a "closing hangover" when you realized that you signed up for:
- a pre-payment penalty
- more fees than you thought
- surprise balloon payments
- wildly adjustable rates
- Enormous broker fees
- Admin Fees
- A bigger loan than you originally applied for
What You Can Do
Washington Residents, File A Complaint With Washington Department of Financial Institutions:
The Washington Department of Financial Institutions (DFI) found that Paramount Equity Mortgage Inc. “had engaged in a number of deceptive lending practices.” The department nearly to revoked the California company’s license to do business in the state and fined it $500,000.
***Only about 40 Borrowers were compensated from this settlement!!***
Paramount Equity Mortgage did over 1700 mortgages in 2007 alone, and presumably most were similar to the ones randomly examined by the state, which found that nearly all of the sample group were predatory and contained serious violations.
YOU can file your complaint with Washington DFI here: http://www.dfi.wa.gov/consumers/complaint.htm
Don't take our word for it: READ the Statement of Charges here: Click Here!
They have to make it right: READ the Settlement Agreement here: CIick Here!
Class Action Law Suit Inclusion:
If you would like to participate in or receive information about a class action suit against Paramount Equity Mortgage, please use this voicemail contact link:
Your contact information WILL NOT BE SHARED with anyone without your full knowledge and approval, I am doing this in order to help others find help getting relief from the violations that were committed against them by Paramount Equity Mortgage, because I know how difficult it was for me. We are unable to accept anonymous requests for information at this time, we will ask for valid contact information before including you in this group.
File A Complaint With The BBB:
I filed a formal complaint against them as well, and I encourage everyone to take this very important step, most companies still very much want to maintain a good rating on the BBB, even though many people forget about them these days: CLICK HERE.
Before you file a complaint, make sure you KNOW what the exact complaint is (the DFI statement of charges will help you a great deal here), and how they can make it right, and that it is an equitable remedy. Being angry is not a complaint, it's what you felt after they violated you. Make sure your complaint is something the BBB can actually DO something with. In other words, ask for something that's actually possible and realistic and fair.
You can file formal complaints at appropriate agencies, you can write to congressmen, senators, blogs, etc. You can forward this blog posting on TWITTER, Facebook, and other social networks and get the word out. Share your experience on comment sections on other blogs, and help others.
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