My husband and I through our own fault and a combination of military moves, job loss, increased family expenses, got caught in the whole mortgage melt down mess. I won't go into a long drawn out and sad song, bottom line is this. We submitted a short sale request to Acacia. They tld us they were considering/reviewing the packet. All the while they did everything that they could to stall the process so that they could proceed with foreclosure. As a matter of fact, they forclosed on our home BEFORE they sent us the notice that they disapproved our short sale. To make matters worse, when we called them to sort out the whole foreclosure/short sale mess, we were treated like second class citizens. They said things like, look...we don't have to explain reasoning to you, the investor doesn't want to short sale, they think they'd get more money with a foreclosre (really), and, don't call here anymore! Take my advise, avoid this bank like the plague.
P.S. If I could have leftzero stars, I would, unfortunately...I have to give them at least one.
November 11, 2011 I submitted an application for a mortgage loan to purchase a home. I was told everything was ran by the underwriter and looked good. With a ratified contract on my home and a ratified contract on the home I am buying, I thought things looked really good. Not for long. I get a phone call at ten pm at night, four weeks later telling me there is a problem. I knock myself dead trying to get the information to these clowns to no avail. The emails become less...no communication. No phone calls. Everything is on me.
Long story short, after seven weeks of dealing with this bank...my Realtor...not me, is sent a quick email stating that they can't do the loan. I am the customer, not my Realtor and I get nothing! I shared many a phone call with this bank over a seven week period and they didn't even have the courtesy to call me to tell me they could not do the loan.
They cared nothing about my position or that of my buyer. To tell me they could close a loan in eleven days and then jerk me around for seven weeks...shameful at best.
My advice to anyone looking for a mortgage to purchase a home...keep looking. This bank does not want to lend you money and has absolutely no respect in regards to your life, your feelings and what position they put you in due to their inability to be straight from the beginning. If you can't do a loan, you can't. You don't string families along for nearly two months and pull the rug out from under them when it's time to close.
If there is a hell for banks, I am certain Acacia will be first in line.
I agree with prior post. this bank is so hard to deal with. They give you the run around and seems like now tih the mortgage meltdown I can't get away from them. I had money flow problems and requested a modification. After a rejection and six months with the process and finally calling the OTS office They finally granted a temporary modification, but this i one bank that will not try to work with you and are rude. Tried to refinance they let me know oh you were one of the lucky ones who were able to modify. so basically we don't give those out without a lot of hassle is how i felt. Now the payment is more comfortable but its going to go right back where it was and the economy still hasn't changed. My husband lost his job during this and they denied a second request to modify a second time and can't do anything to refinance me without me bringing money to the table; and its not like I am not paying or trying to work with them. I'm just looking for a fixed lower rate to stay stable. So who knows what will happen. Wish they were more cooperative.
To their credit, they were able to secure me a non standard loan that was impossible for larger banks to pull off.
Since that time they have NEVER paid my property taxes on time, or for the correct sum.. which has caused them to incur thousands in fines. After calling concerning my overdue taxes, they informed me they were in fact paid, and in processing. they weren't. I received a notice that my house was being sold at auction, with a one month's notice from the govt to pay in full. In that month they were unable to correctly pay my taxes, never returned a call, and refused to send me proof of payment. I called them every day for 10 working days. what bank cannot provide proof of payment?
I had to walk down to the govt office, pay my taxes, including thousands of dollars in fines. will I ever be paid back by Acacia? Doubt it.
Do not use this bank.
I chose Acacia for my home purchase based on advice from my real estate agent. HUGE mistake. Even though they described it as a "cream puff" loan (conventional, fixed rate, 20% down, credit scores in the 800s), they failed to get the necessary paperwork to my title company in time for me to get a settlement statement before close. They are disorganized at best, completely inept at worst. I'm so frustrated with their failure to do even the simplest loan that I now have a negative feeling about my real estate agent who recommended them to start. STAY AWAY. Find a bank who knows what they are doing.
Acacia probably has the worst website I have ever used. Very annoying. It is also hard to get customer service on the phone.