John Adams Mortgage

★★★☆☆

About John Adams Mortgage

Finance

Finance
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41170 Hayes Rd Clinton Twp, MI

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21497 21 Mile Road Macomb, MI

3.0 2
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My parents sold their home to buyers who used this company and it was a disaster.

One delay after another and all the while, the loan officer keeps sending emails saying "great news! We should be ready to close this Friday." The first week we are supposed to close, the buyers are informed that they are supposed to pay the entire condo assessment up front instead of over three years...that's the loan originator's right, but they had been sitting on the paperwork for two months and only now decided to bring it up? And then that gets worked out, supposed to close on Friday when Monday, it turns out that buyers opened a credit card and now another credit report is necessary. Takes two days...ok, that's not loan company's fault but when the report comes in and we're good to go again, they suddenly say "we need the buyer to have extra cash liquid." Like they didn't know that all the way along?

So it takes another week for that paperwork to clear and then we're good to go on yet another Friday at 3 pm. Except that at noon, it appears that the buyer's power of attorney for his parents has the wrong middle initial. No one noticed this for how many weeks???

This company does not appear to have a logical checklist of what is necessary and seems to fly by the seat of its pants. Like the previous reviewer, both my parents got physically sick from the anxiety of this, including a trip to the ER for chest pain in a woman who has only gone to the hospital to have her babies.

I have bought and sold several homes and investment properties and never had this experience. If I ever had to sell another home in Detroit, I would stipulate in the sales contract that John Adams Mortgage is not to be the loan originator. Not that this would do anything, since this company also gave a 10% down mortgage to the buyers even though it could clearly see in the sales contract that we agreed to a 20% down mortgage.

1
★☆☆☆☆

My parents sold their home to buyers who used this company and it was a disaster.

One delay after another and all the while, the loan officer keeps sending emails saying "great news! We should be ready to close this Friday." The first week we are supposed to close, the buyers are informed that they are supposed to pay the entire condo assessment up front instead of over three years...that's the loan originator's right, but they had been sitting on the paperwork for two months and only now decided to bring it up? And then that gets worked out, supposed to close on Friday when Monday, it turns out that buyers opened a credit card and now another credit report is necessary. Takes two days...ok, that's not loan company's fault but when the report comes in and we're good to go again, they suddenly say "we need the buyer to have extra cash liquid." Like they didn't know that all the way along?

So it takes another week for that paperwork to clear and then we're good to go on yet another Friday at 3 pm. Except that at noon, it appears that the buyer's power of attorney for his parents has the wrong middle initial. No one noticed this for how many weeks???

This company does not appear to have a logical checklist of what is necessary and seems to fly by the seat of its pants. Like the previous reviewer, both my parents got physically sick from the anxiety of this, including a trip to the ER for chest pain in a woman who has only gone to the hospital to have her babies.

I have bought and sold several homes and investment properties and never had this experience. If I ever had to sell another home in Detroit, I would stipulate in the sales contract that John Adams Mortgage is not to be the loan originator. Not that this would do anything, since this company also gave a 10% down mortgage to the buyers even though it could clearly see in the sales contract that we agreed to a 20% down mortgage.

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This is the mortgage company that mortgaged my great grandmothers condo. They were helpful and crossed their i's & dotted their t's. They walked her through the process and explained it to her so she understood it all. Fran Lapello was her agent.

5
★★★★★

This is the mortgage company that mortgaged my great grandmothers condo. They were helpful and crossed their i's & dotted their t's. They walked her through the process and explained it to her so she understood it all. Fran Lapello was her agent.

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