What a nightmare!!! Don't deal with this company whatever you do!!! AKA the Money Store
My husband & I had a great mortgage with a well known company. He took sick & he lost his income for 9 mths. We refinanced with the Money Store now HOME EQ in 1998. The BATE RATE they used was great, the mtg pmt was in the $600.00 range. Now, only 7 years later my mortgage payment is in the $1200.00's!!! This company is such a rip off & no one out there is doing anything about it.
I have written to the dept of Consumer Affairs, the dept of banking and many others. Now since our mortgage is incredibly high we have no choice but to sell our home & start over. Since our mtg is so high our credit has suffered & we are near bankruptcy. Without warning, HOME EQ has raised our mortgage because they never escrowed my taxes. I didn't realize until I received a SHERRIFF SALE due to back taxes. HOME EQ told me in order for them to escrow the taxes had to become delinquent!!!
Which means not only are we paying a penalty with our township but interest on our payments for escrow & our mortgage increased by 600.00's over these years. They also tried foreclosure & we received assistance from ACT 91 in PA which thank God for them stopped any foreclosure proceedings. HOME EQ also has "in suspense" over $2,000 in foreclosure fees, & it never foreclosed!!! Never ending nightmare. Now with settlemet close I pray that it goes smoothly, but with this company I doubt it.
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