Bait and switch artists. They send you a mailer, y...

Bait and switch artists. They send you a mailer, you call in, they promise you a loan amount substantially higher than your house would ever be worth you express doubt they continue through and sure enough it comes out that they just made up a number of of no where, I believe the term they used was "reverse engineered. " And the loan is only a refinance offer at a higher interest rate than you already have. When specifically asking the loan agent why they would ever present a number that was based on the home I own increasing in value by over 80% in two years time he just replied... Well I'm not an appraiser.

He asked if I wanted to continue with the refinance offer with little cash back and a percentage rate higher than what I have now. I said no thank you. Why would anyone want to do business with a mortgage company that doesn't have any concept at all of inflation or home values.