Geoffrey Calnan
Valley Village, CaliforniaMember since April 2017

Reviews (1)


    • Apr 19, 2017
    • Verified Reviewer

    Mosaic

    Watch out for balloon payment in first year!

    Mosaic makes their loan process so easy and quick that you will think it's the greatest company ever. Then they screw you.

    No one every suggested the possibility of a balloon payment. We set up our solar loan to auto pay right out of our checking account so that there are no missed or late payments. Yet, a few weeks ago, and in the first year of our loan, we got a notice from them saying we needed to pay in excess of $9,000 to stay current with the loan.

    Where did that come from? Why didn't anyone tell us that was even a possibility?

    I should have known the ease and smoothness with which we first executed this loan was too good to be true. Mosaic will put you in a terrible spot without warning. I'm checking on the legalities and responsibilities, but we would never have used Mosaic if we knew what cons they are. Stay away.

    Bottom Line: No, I would not recommend this to a friend

    11 people found it helpful

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