We contacted Secured Funding to get a Home Equity Loan to pay off some bills and lower our monthly expenses. We told them we needed a 15-year, fixed interest rate loan, with a low monthly payment. After all was said and done, we ended up with a 15-year, variable interest rate, payments on interest only, balloon payment at the end loan.
All of the required documents were not seen or signed by us. All requests for these documents have not been sent. We did not know at the time of signing the documents about the balloon payment or that the payment quoted was for interest only. When questioned about certain items, Secured Funding had all the right answers. We were also charged $522.50 for recording services that were never done.
0 comments