I came across a critical review of Cedar Mortgage on a Scam Reporting website – DirtyScam.com, titled ‘Customer Service’.
DirtyScam allows anonymous submission of complaints from angry consumers and victims of scams. Since the website is hosted offshore (probably in Russia or India), we take this (negative) review against Cedar Mortgage with a pinch of salt.
Here is what the review says –
Note: this is a mortgage company called Cedar Mortgage Company with address is in 1670 Hillsdale Ave B, San Jose, CA 95124.This is a private company owned by Daniel Burke.At the beginning, this person spoke nicely so I decided to use his service.I got the good faith estimate (GFE) toward the closing cost.The YSP (Yield Spread Premium) was $ 500 in the GFE.Finally we got the loan through him but the YSP became more than $3000.My understanding is The YSP is the money left on the table that the mortgage broker will put it into his/her pocket.So I call him to get explanation about why the YSP became that high (more than 500% from the GFE).Mr. Burke showed who he trully is by became angry at me (accused me wanted the money) and hung up the phone on me.I felt very dissapointed because I paid his service and this was I got from him.Never ever hang up on the client who paid for the service.Client has rights to know whats going on.Will stay away from this company and Mr. Burke.
In case you don’t already know (assuming you came to this page by Googling ‘Cedar Mortgage scam‘, or ‘Cedar Mortgage review‘, Cedar Mortgage is listed under the category Business on DirtyScam.com.
Here is the rest of the contact information for the sole purpose of identification –
- Address: South Bascom Avenue San Jose CA 95124
- Phone: (408) 879-9011
- Website: http://cedarmortgage.com
- Severity of Scam: Medium [not sure what it means]
- Reported Loss: 3266 $ [unsubstantiated]
- Reported by: Anonymous [obviously]
The entity Cedar Mortgage was awarded 3 / 5 Stars based on 1 Reviews.
It is difficult to ascertain whether Cedar Mortgage is a Scam, or Legit, based on this single review. In the coming weeks/days, I will try to research deeper into Cedar Mortgage, analyze and list more critical reviews and identify a pattern (or lack of) to substantiate the claim mentioned above.
Regardless, until then, we give the benefit of doubt to the reviewer and list Cedar Mortgage as someone you need to avoid (for now).
If you have any grievances, complaints, or anonymous tips against Cedar Mortgage, please contact us immediately. If you have lost money to Cedar Mortgage, together we can work to recover your loss.