John Adams Mortgage - Southfield

My parents sold their home to buyers who used this company and it was a disaster.



One delay after another and all the while, the loan officer keeps sending emails saying "great news! We should be ready to close this Friday." The first week we are supposed to close, the buyers are informed that they are supposed to pay the entire condo assessment up front instead of over three years...that's the loan originator's right, but they had been sitting on the paperwork for two months and only now decided to bring it up? And then that gets worked out, supposed to close on Friday when Monday, it turns out that buyers opened a credit card and now another credit report is necessary. Takes two days...ok, that's not loan company's fault but when the report comes in and we're good to go again, they suddenly say "we need the buyer to have extra cash liquid." Like they didn't know that all the way along?



So it takes another week for that paperwork to clear and then we're good to go on yet another Friday at 3 pm. Except that at noon, it appears that the buyer's power of attorney for his parents has the wrong middle initial. No one noticed this for how many weeks???



This company does not appear to have a logical checklist of what is necessary and seems to fly by the seat of its pants. Like the previous reviewer, both my parents got physically sick from the anxiety of this, including a trip to the ER for chest pain in a woman who has only gone to the hospital to have her babies.



I have bought and sold several homes and investment properties and never had this experience. If I ever had to sell another home in Detroit, I would stipulate in the sales contract that John Adams Mortgage is not to be the loan originator. Not that this would do anything, since this company also gave a 10% down mortgage to the buyers even though it could clearly see in the sales contract that we agreed to a 20% down mortgage.

I used John Adams for my home Mortgage. Overall I give this company poor reviews and would not recommend them to anyone. I used this company as they were supposed to specialize in FHA Loans. My loan officer was nice enough, however I did not find her to be very knowledgeable. She did get my paperwork together and was responsive, but the lack of knowledge on the products I was considering was really frustrating, I often felt like I was in the dark. I ended up reaching out for help from a co worked who had been a loan officer to answer my questions. Had it not been for him I really feel I would have been in a panic many times. My biggest sore spot however was after my closing when I needed an escrow disbursement for some repairs. My loan was sold immediately and spent a month in mortgage limbo where I was given no help, guidance, or explanation from John Adams. They made their money and were done helping me. My recommendation is to seek a company that services their own loans. Avoid John Adams.