Communication was the key!

In the summer of 2021, my employment was ended due to the COVID19 pandemic. I wasn't sure how or where I was going to go back to work or at my age (62 then), if I wanted to. I hadn't planned on being retired (or semi-retired as I refer to it), so my finances were set up on my previous salary. Upon accepting my retirement status, I relied on SSI and a Pension. I met all my obligations with "no late-payment" history on my Credit Reports. However, upon re-assessing my financial situation, I knew I had to cut costs (high interest rates on CC's) and recreate a new budget based on my new current income. Therefore, I reached out for HELOC and Refinance situations. First, US Bank with whom my current mortgage with a 4.625% interest rate was held, informed me that they were no longer financing (new, refi or HELOC) manufactured homes. So then, I checked on line (bad mistake). Applied with two companies (New American Funding & Loan Depot) within 30 days of each other. With both companies, I started feeling as if the Sales Rep (Mortgage Broker) was just that, a "sales rep". After the first company didn't even call me to discuss why they wouldn't fund me, I felt mislead especially running through all the hoops that they asked me to. After I gave them everything and the Sales Rep stated that "it looks as if everything will be good to go", I find out on their Portal that my application was declined. No call but I did recieve a letter about 2 weeks later. Then I decided to go with a 2nd company and their Marketing Dept., did an excellent job at creating a glorified sales pitch. I explained to the 2nd Sales Rep that I entered into discussion with on what I had experienced with the first company. I was assured that he "would be different". Yes, he kept in communication with me by first stating "we are on a recorded line". Everytime I would call or he would call, that would be the first thing out of his mouth. I proceeded but felt that the statement was very intimidating so I didn't keep my hopes up. Sure enough, after all of the hoops that I went through with the first company, it happened with the second company. It even go to the point where I had to provide $450 upfront for an appraisal "although I was told it would be wrapped up into the loan". After an Appraiser came out and all requested information was provided, I came to learn "without a phone call", that my Loan couldn't be approved due to information 12 months old that I had provided to the Loan Officer. As I want to stay in my home and love living where I do, I thought I would look locally. I pulled up the local office of Guild Mortgage through a National Mortgage search on my search engine and came across Barb Orta's name with Guild Mortgage. Right from the start, I openly explained to Barb what I had been through. Her pleasant demeanor and assurances that she would work with me every step of the way (although I was hesitant, due to the first 2 companies interactions), I felt comfortable to try a last time in working with Barb on my Loan request. Although I first wanted a HELOC (especially due to my 4.625% current mortgage) so that I could pay off my 18%-29% credit balances. Again, I had not missed a payment on any of my obligations but I practically lived penny to penny. I clearly expressed to Barb that if I could round up all my payments to 49% or less of my income, I could pay 1 payment which would be 1/3rd of my current non-mortgage obligations. All looked good until my average FICO score (the middle), came in just 3 points under the minimum. I truly wanted just the HELOC but after discussing my situation with Barb, I decided to submit an application for a Cash-Out refinance. From that point on, and after submitting all of the information that was requested by Underwriting, every step of the process was efficiently and effectively completed. Thus, while I was hoping to not have my first payment until June 1, 2024; I am greatful that my Loan was funded and that my combined (1) mortgage payment that is first due on May 1, 2024, is now Closed....!!! Today is a day of relief and I can now move forward in improving my home for years of enjoyment in the future. Sincere thanks to Barb Orta and Stephanie Gaines the Senior Processor as well as Guild Mortgage's Underwriting Team for making this an enjoyable transaction. I will be referring friends and/or relatives to Barb at Guild Mortgage. Please pass on my thanks and admiration to Barb, Stephanie and everyone involved (including Katie at Chicago Title). My only recommendation is to acknowledge everyone involved AND to have Barb teach other Loan Officers, ect.... how to work with a Customer and not treat them as just a income #. Thank you Barb...!!! You and your Associates were fantastic...!!!

Great experiment, explained how the process would go and answered any questions that I asked.

Bard was on top of my needs and questions and very fast experience, explained the process and made it easy too finish the transaction.

Totally Wonderful Experience. Barbara Orta was excellent.

Barb Orta is the best!