David Hochberg - Townestone Financial

I can't think of any other example of being so dissatisfied with a business that I feel compelled to write a negative review more than a year after the fact. I tried this company, based upon their heavy radio advertising, for a refinance of an existing mortage. Let me first say that we have good credit and have lived in our house for over 10 years, so this should have been a pretty straight-forward transaction. Within a day or two, we agreed upon an interest rate without fees or closing costs. After completing the various paperwork, David Hochberg sent an appraiser to our house who was expecting us to pay him c.o.d. This is not my or most people's idea of "no fees". When I called David, he went into his "did I forget to mention" routine and that he has to have us pay the appraiser because he's been burned so many times by customers who don't go through with the mortgage. After some discussion, David agreed to reimburse us for the $300 but only after the loan closed. I insisted that he also agree to reimburse us if the loan didn't go through and he agreed via email. Later, as I'm reviewing the loan documents, I see that the interest rate is higher than what David quoted us. David accused me (U. of Chicago MBA, finance major) of not understanding interest rates. To make a long story short, we cancelled our dealing with David and went elsewhere, and David refused to refund our $300. Unless you enjoy fast talkers who don't stand behind their promises, this is a company to be avoided.