Comments on: ING Direct Mortgage Customer Review

By: Richard Hebert

Richard Hebert — Sat, 31 Oct 2009 09:41:58 +0000

Mark : Try getting a simple payment date changed and enjoy the
club.I just searched for a ING sucks website to add my name with this story.
I just got informed my paycheck would be late and id get it on monday.
I tried to get them to just delay the mortgage payment from the 1 st to the 4 th
so’s i could get my check deposited.No .. simple answer was no .
SO i tried to have them to at least not charge me with fees and penaties
since iom calling ahead of that day.I was answered this : We got to make money.
?? i mean wtf . So conversation kept on for a minute , then the agent started to
give me shit for calling a friday afternoon at 2 30 pm. Again . wtf
It was 2 30 btw cause i had been on the phone almost two hours at that point !

Try to reach them when you’re in need of something and enjoy their
crappy service and join the rest of us dissatisfied customers.
We were warned by our notary not to use them , we did and now regret it.

ING is goods as long as you dont need service , they you will find out what they
really are. Crappy service. The worst i ever seen. We will never do business
with them ever again and i strongly discourage anyone from considering using their.services

Richard Hebert

By: Mark

Mark — Thu, 22 Oct 2009 00:21:16 +0000

I find it hard to believe so many people have such negative comments about ING. I just did a refi with them and I couldn’t be happier. I consolidated my existing mortgage of $131K at 5.25% with 11 and a half years to go and my HELOC at $77K variable (currently 2.24%). I took $12K cash out and had them cover closing costs for a mortgage balance of $223K. I chose the bi-weekly Easy Saver Mortgage at 3.99% for the first 5 years and then resettable to market rates every 5 years thereafter. This is the perfect mortgage if you choose to pay it down, which I will be doing. I will pay off $82K in principle at the end of the 5 year period, leaving me with a balance of $141K. I know that rates will be higher then, but it is not a concern to me because the amount of interest that will be assessed will be based on the new balance of $141K, not the original amount of $223K, which could quite possibly result in a lower payment amount. The amortization schedule still follows a traditional 30 year mortgage, so my principle amounts each month will increase accordingly. After all is said and done, I will pay this total amount back in 11 and half years, which is right where I am now. The application process couldn’t have been simpler. My credit is outstanding (800+), and the only docs they required were 1 paystub, 2 W-2’s and my Home Owners Insurance Declaration Page. Everything was done online and the entire process took less than a month.

By: Milo, Virginia

Milo, Virginia — Mon, 05 Oct 2009 17:07:45 +0000

It also happened to me. I have a credit score 775, no liabilities, paid-off mortgage on current house (worth over $500000), saving account with ING Direct with a balance of $150000, three credit cards with maximum line of credit, income over $130000 per year. So, I was told that my application is approved, and ten days after that I found out that application was declined. Explanation, insufficient credit depth. I was shocked and called them, they repeated the same story (we are sorry, etc.). I still fill still sick in my stomach whenever I think about ING Direct.

By: Sunny

Sunny — Fri, 04 Sep 2009 17:14:41 +0000

Beware with ING if you have good credit score!

I know it sounds silly but that is what happened to me. I have a very good credit score, 780 plus. No credit card debt, no loans. I thought there shouldn’t be a problem getting approval…but I was wrong! when I called for pre-approval, first they said that I my decision was deferred. Then I called them after couple of days and they said that my pre-approval was declined because I don’t have sufficient credit depth!! I use credit cards every month and pay it off completely when the bills are due. I don’t have a car loan or any such thing. I can’t believe they declined it. I had applied for pre-approval with different bank and they approved my application!
I think the bottom line is that ING direct wants consumers whom they think will call interest payments over a long period – more money for them. They have a easy 5/1 mortgage which on which you actually pay interest as if it is a 30 year loan, and after 5yrs, the interest rate you pay will be what exists then – which will be much higher. Same problem with 5/1 and 7/1 Orange mortgage..it can go up 2% every year till max of 6%. So if you are paying 5% now, you would be potentially paying 11% interest in 8 yrs. I would be very careful before I commit with ING mortgage.

By: Geoff

Geoff — Sat, 08 Aug 2009 15:34:03 +0000

I NG Mortgage – Run away fast.

Received a mortgage approval from ING and subsequently signed off on my waiver for financing on my new house. Then the BOMB was delivered! 1 week before my closing, they called to inform me that unless I came up with another $25,000 there would be no approval. After asking why, the reason given was that the CMHC had appraised the house and there was a significant gap in house worth vs mortgage amount. Now in scramble mode, I received another mortgage from 1st National Bank through a great mortgage broker. As it turns out there was NEVER an application to the CMHC on my behalf. #$**#* Incredible! To add insult to the file, they refused to process the discharge statement, delaying my closing, until I spoke with an agent who tried to convince me to stay with ING. Are you kidding me….
Talking to my agent, this seems to be happening very frequently with ING.
ING? Run….Run away fast!

By: Maggie Meyers

Maggie Meyers — Fri, 10 Jul 2009 21:16:12 +0000

ING has the lowest rates but absolutely no customer service. We have had the appraisal and the house appraised considerably higher than our buying price. (new home builder came way down he is close to foreclosure) Now we are in some cue to review their appraisal with no time limit given…we are not able to get any answers, no one cares and we are in a time crunch. I am quite sure we will not have settlement on time and am making alternate plans for our furniture etc. It sucks that we have to use such a nasty company.. seems like no one cares no matter how high up you go. I will never deal with them again.

By: frustrated customer

frustrated customer — Mon, 01 Jun 2009 21:46:29 +0000

Avoid ING Canada mortgage like the plague.

They are not only very slow, but they will make an almost mind-boggling number of requests upon you.

They approved my mortgage financing at the deadline of the expiry of the sale offer despite having the file for the full 10 days from the sale of the house, then withdrew it a few days later to request an inspection report and a specialized test of the soil. No explanation or reasoning was provided as to why they required it. I provided the inspection report (which was perfect), but had to pay to have a soil test done.

Only after a week and a half of delays – after the deadline – did they finally approve the financing. It was a nightmare scenario for me as buyer, the sellers and the two real estate agents, who claimed to have had similar experiences with them before.

Incidentally, my credit record is perfect, which is what made this entire process even more infuriating.

It’s also hard to find notaries who enjoy working with them. Of the four I called, two refused to deal with ING and the other two said they were the slowest and most complicated companies to work for.

Go with a bank. It’s a lot easier. I’ll never go with them again.

By: Home Owner

Home Owner — Sat, 16 May 2009 18:13:11 +0000

ING Direct is full of crap.

In 30 days, they did appraisal of my house (real worth- $690K based on the house sold in last 30 days) and they came up with 2 funny numbers ($620K and $535K) for 2 different mortgage products 2 weeks apart.

- appraised value on March 9, 2009 : $620K
- appraised value on March 23, 2009: $540K

And OF COURSE, THEY DONT LISTEN EITHER- LOAD OF CRAP. I got my house refinanced with appraised value of $690K with a competing interest rate.

So my advise to you folks – do waste you time on ING Direct, unless your loan-to-value ratio is less than 50%, in that case any bank would love to offer mortgate to you.

By: Shaun

Shaun — Fri, 24 Apr 2009 10:37:50 +0000

I tried to refinance with Them and as Ethan said every thing went smooth until Appraisal Stage.
Their Appraisal company compared two of the smallest LOT and small home sold in our sub-division and further reduced 20% of our home value.My home is only 1year old home in this sub division.
The lady on the other side of the ING was in no mood even to talk and thus they lost my business.
I feel sorry for them and home one of these days they re-evaluate their Appraisal company.
Except the low cost of refinancing there is nothing special about ING

By: John Appleseed

John Appleseed — Mon, 05 Jan 2009 21:30:15 +0000

I think Ethan Hawks story is incredible. Of course your house went down in value! Perhaps now after housing is still going down you can see that the first valuation was inflated as they always do. The second one was probably more on the mark. No one likes to be told they paid too much for their house, but that is what probably happened. No follow up on what happened next?