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Unlock Techologies
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Unlock took almost five weeks to decide to decline my application. Their attorneys did not know how to read a ********** trust. The appraiser did not have the legal description. I provided all the critical information. They strung me along, then declined me for the exact reason I needed the loan: to pay back the forbearance on my home. Stay away. This is a company that wants a good credit score, no forbearance, and is easy. I had over 50% equity in my home, and only wanted to access $75,000 to pay off the $6000 forbearance, ... read more
Business response:
Hi ******,Were sorry we are unable to offer you a home equity agreement at this time due to certain underwriting policies that have not been met. You should have received an email explaining the reason. If you have further questions, please contact us at ************ (Monday Friday, 9 AM to 8 PM ET). We apologize for the delay in communicating our policy sooner and the inconvenience this caused. We will use your feedback to improve our process to ensure this does not happen again. If you have any further questions or concern... read more
BORROWER BEWARE - If you OWN solar panels and financed them, you are eligible to have that included in your appraisal/valuation and in the ***********, you can work with the appraiser and provide the necessary paperwork to show ownership. Unlock and it's representatives do not know the difference between solar panel ownership and leasing. So they ASSUME that they have been leased AND TELL THEIR APPRAISER THE SAME - so the appraiser comes to your home WITH THE SAME INCORRECT ASSUMPTION and then fails to appraise your home cor... read more
Own my home free and clear and wanted to take out some equity. After waisting a month and a half of my time they declined my application due to a foreclosure? I own my home free and clear. I explained from the beginning that I inherited my home and there was litigation that was filed but all had been dismissed and all documentation was provided. Again I was told that it was due to foreclosure, the house has been paid off for 20 years. Seems like they need to retrain their legal team as to what a foreclosure is. Would not rec... read more
Business response:
We are sorry to hear that you had a disappointing experience working with Unlock and that we were unable to offer you home equity agreement. Due to our underwriting guidelines, we cannot invest in your home.Thank you,Unlock Team
I just got off the phone with the rep. I have checked out companies like this in the past. Unison is similar. The premise is the same. They sell you on no monthly payment but if you calculate out what the percentage interest they charge to buy them out is unconscionable. It's in the ***** ** **** ****** *** ***** *****.Here's what they told me. I can qualify for $70,000. For that money this is what I will give them in exchange. In the first to fourth year, in order to be free of the agreement, I will need to pay back the ori... read more
Business response:
***,We were able to go back and listen to your recorded call and it appears that the call dropped due to a telecom issue. We certainly do apologize for that situation. Unlocks home equity agreement allows homeowners to access the wealth they have tied ** in their home without monthly payment or interest charges. Much like a traditional loan with monthly payments and interest charges, a HEA isnt for every consumer. We appreciate you passing along your thoughts and we hope you find the right financial product for your needs. -... read more
I applied for a loan through Unlock.com today. I received a message from a person named ************************* stating that they must talk to me via phone in order to proceed. I explained that I am deaf and need *** accommodations as speaking on the phone is very difficult for me, and I have been harmed in the past when I am not able to hear clearly and persons have attempted to scam me. ****** stated there are no accommodations and when I pointed out this was illegal, I received an "LOL whatever" message in return. He th... read more
Business response:
******,We apologize for the problems you encountered during the application process and any miscommunication regarding accommodations. We can accommodate you and it is our understanding that one of our managers has reached out to you to address the situation and provide support.Please feel free to contact us if you have concerns.Sincerely,The Unlock Team
I began with Unlock because theywere advertised as an Equity share program. Started application with an Agent.. Original app was for $200,000 (5-ber 41/2 bath) built in **** purchased for $915,000 with mortgage balance of $740,000 $668,000 1st and $63,000 Equity line.2nd. Home valuation on market (per realtors) $1,250,000 to $1,300,000. Original agent said their investors lowered the amount of equity share to $125,000 which was fine with me. The amount would satisfy the equity line and the solar panels. leaving a few dollars... read more
Business response:
Dear *****, After a thorough review of your file, we determined that the complexities around payoffs tied to a solar lien, a 2nd mortgage, and deferred payments on your first mortgage triggered an underwriting clause that required these items to be paid off in full. At the same time, and due in part to the length of time it took to process your application, updated underwriting guidelines were implemented to reduce the risk for both consumers and Unlock. These changes ultimately reduced the amount of equity you could tap thr... read more
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Unlock Techologies has a 4.2 star rating with 347 reviews.
When is Unlock Techologies open?
Unlock Techologies is open now. It is open 24/7.