Morgan Real Estate Review

2.3/5 - (3 votes)

This is an archive of a consumer complaint published against Morgan Real Estate at DirtyScam.com-

 

Business Details –

  • Name: Morgan Real Estate
  • Address: Junction Avenue
  • City: San Jose
  • State: CA
  • Phone: (408) 320-8080
  • Website: http://morganhomeloan.com
  • Reported Loss: 3277 $
  • Severity of Scam: High

 

Original Complaint against Morgan Real Estate published at DirtyScam.com says, verbatim –

 

I refinanced with Morgan Real Estate & Financial after getting a referral from a coworker.They got me a good interest rate on a “no point, no cost” loan.However it looks like they lied or misled me on the points and costs.After closing, the numbers just didn’t add up. I ended up paying for some of the costs, or I wasn’t fully refunded.Also, over $4000 showed up as points on my 1098 tax form.There is some discrepancy here, because the amount I overpaid is not equal to this number.I showed all of this to my long-time CPA, and she wasn’t sure what kind of weird math they used either.I tried to get some clarification from Morgan when I discovered these issues, but I was ignored.I was also required to increase my homeowners insurance coverage significantly, which increased the premium dramatically.This very much detracts from the savings I got by refinancing.The lender they use also does not have any online payment option.The refinance process took longer than I expected, and I had to suffer through pretty poor communication throughout.Sure, they got me the interest rate I was looking for, but I ended up paying for it in the end.If it isn’t already, this type of behavior should be illegal.Be careful, and triple-check the paperwork before you commit to Morgan Real Estate.UPDATE (3/18): Apparently my review got their attention.I received an e-mail from them out of the blue explaining the discrepancy mentioned in my review.I’m grateful for the explanation, but it took a YEAR to get it. As mentioned, my previous attempt at communicating with them directly (on 3/12) was ignored, but it looks like they will respond when they see a negative review.I stand by my comments, and hope this additional data point helps others make their decision.

 

Morgan Real Estate

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