Mortgage

I was the seller in a transaction with a buyer using Tower Mortgage. The buyer was trying to get 100% financing through a special program for physicians. This process started January 28, 2013. We were supposed to close on May 31, 2013. Finally, on June 19, 2013, after 4 extensions and excuses ranging from a backlog of loans to process to missing information from the buyer, this company decided they were not giving the buyer the loan. This was the reason. They wanted the buyers employer to guarantee her bonus which was based upon how many RVUs she generates in a given quarter. Anyone who understands physician contracts and you would think that a company specializing in loans for physicians would, knows that there is no way of determining how many RVU's this doctor was going to generate during any given time. Basically, they wanted a company to pick a bonus number and guarantee that she was going to get paid that much money -- essentially asking a company to give this doctor a raise in her base salary. Crazy and ignorant. Plus the company had a copy of her contract in JANUARY and waited until 20 days after the original closing date to do this resulting in HUGE financial losses for my family. They are rude, not qualified to be providing the services they purport to be experts in, unresponsive and don't return calls, and liars making up excuses that were not true until they came up with a reason to deny the loan.