Angie C.
Scam at worst, incompetent at best
Update: We (application was under my husband's name) spoke to renofi awhile back about this. They said that we experienced an unfortunate series of bad luck and acknowledged that their processes needed when and said they were working on it and that one of the banks they had been working with at the start of our allocation was no longer with them by the time we needed backup banks. I'm glad they spoke to us, but it still doesn't help us out. Had they had better processes in the first place, we wouldn't be stuck with a house that we had to rent out for a loss because it didn't work for our needs to live in and we missed the prime opportunities (including actual offers) to sell it. I don't know if this company is scamming to get kickbacks from appraisals and referrals or if they're just terrible, but in either case, they are the worst. After the initial consultation, they are near impossible to get a hold of. They do not answer emails, you have to schedule a call and they won't always show up for that. They don't keep you updated and they don't follow up with you or the bank. And they use the lowest rated shady banks to begin with. They don't actuality give you any choice of bank, they pick one and submit for you. At the beginning, they collect your information, but they don't collect everything the bank needs, so 4 months later, after hearing almost nothing, the banks rejects you because they made assumptions. Even after providing them proof which they say they'll look at, silence. Just, literally no communication from the bank or the renofi. Even though renofi said they had other banks to submit to, they didn't do it. And they wont talk to you again.
Response from RenoFiApr 11, 2023
Hi Angela, Unfortunately, we can't find any record of you in our system. We'd love to speak with you more about your experience, could you email us at [email protected] with a number we can reach you at? Much of what you outlined above is simply not accurate. RenoFi has no direct relationship with the third party appraisers. Homeowners always choose the type of RenoFi Loan that is best for them and the lender when multiple options are available. RenoFi never makes a decision on behalf of the homeowner. As mentioned we'd very much like to look into the details of your situation so we can learn from whatever trouble you ran into and apologize directly if we did drop the ball in anyway. Please contact us directly as we have no record of you in our system.



