At first, I really liked this site, it quickly spiraled out of control. Looking back there were a few "red flags" I should have recognized. I read some negative reviews and my first instinct was well, you can't please everyone. I wish I had realized that anything you read about other posters' experiences are absolutely true! Don't be a sucker like me and fall for the most likely false positive reviews. Here is my honest unbiased experience.
I found Better.com while looking for rates for a second home condo refinance. I filled out some information to get my rate, which seemed a little high, but since it's on a second home I felt it may be in line. Immediately calls and texts start coming in. I ignored them for a day, and at one point someone named Andrew left me a voicemail with a number to reach him. A few minutes after his call I called back the number he left and listened to muzak for about 5 minutes. No answer, no automated system, nothing. I pictured the movie boiler room for a split second. But didn't dwell on it. Needless to say, I paid the $550 for an appraisal. Their portal asked for some uploads which seemed so smooth and user-friendly. Seemed like an amazing process. Right off the bat, they asked for my homeowner's policy on my primary residence, and my secondary. When I sent them my primary residence, it was rejected saying they wanted the HO6 policy for secondary...oversight I thought, and I just uploaded everything to their portal. Had an appraisal done, which according to their site if it was less than $550 they would refund the difference. Coincidentally it was $550.
A few days later, a fellow owner and board member in our small condo community forwarded me emails that they were sending him. They were relentless, and so poorly written, it almost seemed like a fraudulent email telling you that you are the winner of a foreign lottery. He replied to all the questions they had, and more emails came. Asking for HOA insurance policies, and contact info and all stuff I had already provided. He said he even tried calling them to help and listened to Muzak, no one would answer. Finally, after a few days, I myself replied to the email, almost in a curt tone, saying you already have been provided this information, and there were no harassing messages to fellow owners. This concerned me, but I thought after this hurdle, or hoop as another reviewer called it, we would be in the clear.
After that I spoke to a mortgage officer based in california, who was very friendly and said the underwriting was complete, everything looked good, would be closing within two weeks. In our conversation though he stated he is not licensed in the state of NJ, which was concerning.
Then the insurance fiasco started. My insurance agent called me and unbeknownst to me said someone called him saying they needed to change the payee on my policy. However, the caller would not verify any information on my policy and he wouldn't do it. We finally straightened that out and I can't tell you how many times I uploaded my policy declarations. After a few days, they tell me I don't have enough coverage on my unit. The same policy I had for 7 years, and no other bank had an issue. I had to triple the amount of coverage and payout of pocket about $300. I have more insurance on a walls in condo policy than I do on my house currently. Another hurdle complete. And another concern making me wonder why I keep sending my insurance info. Where is all this information going on the mystery portal?
Next, I had to obtain my own payoff statement from my current lender. When I contacted them their reaction was, why are you calling and not the lender you are dealing with? I got it anyway from them and sent it to the portal. $20 out of pocket, and another hurdle.
There were small things throughout the process that were concerning, they said my property taxes weren't current and wanted me to pay them. They were paid by my current lender, were on to date and paid weeks prior.
Finally, things were quiet for a few days and I started getting emails overnight. One, while I was on vacation with my family came at 12:30 AM. It basically said there were some things with a credit line that showed up, and I may or may not receive a call from a third party company to look into it. This was VERY VERY concerning, nauseating actually. I was worried that something may be wrong. I emailed my unlicensed NJ rep about it and he basically said someone will call you. I waited for DAYS! Sick about it. No one called. This is when I had enough. I checked my portal one day and it asked if I received a call. I answered no. Didn't hear anything. Then there was the "Have a better offer? We'll beat it screen." This got the gears turning in my head. It took me less than 5 minutes to find a lender with lower fees and rate, by a half an over half a point. And I sent it in. No answer for a few days.
A few more days pass and I get another request on my portal requesting my mortgage statement, account number and just a repeat of everything I had sent over and over. I emailed my unlicensed rep and said you already have all this info. He said we, unfortunately, do not. And that is when I reached the end. I informed them I don't want to proceed. I have no idea where all my personal info is going, who sees it. But this experience has been a financial and emotional burden. I'm roughly $1000 out of pocket.
To anyone reading this, please take my experience seriously and do not think yours may be better. There are much more professional and organized lenders. I really wanted to like this company and thought it would be easy and smooth. It was brutal. To any Better.com employee who reads this, please do not respond with a generic "sorry for your experience." You have a ton of my information, you know how to reach me.
As a side note, I just checked my Better.com portal. Still no competing offer.
Bottom Line: No, I would not recommend this to a friend
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The Better.com Team