I received an unsolicited check from HFC in the amount of $7000.00 right after I purchased my home. I thought it was a good thing since I had a lot of repairs in mind to do to my home. I did not notice that the interest rate was for 28%. I've been making payments of $180.00 per month for 4 years now and have never been late but guess what my balance is? Over $8000!
They charge almost all of my payment to interest then at the end of the year I have to pay an annual fee. Somehow this made the balance go up not down because they have some underhanded way of calculating interest. This s*t has stressed me to no end. I called them and asked them since I have been paying so long will they consider reducing my interest rate and she said sure as long as I allow them to put a lean on my home! I declined that.
I am refinancing my home with the main objective of paying off this damn loan! I hate HFC and I surely wouldn't advise anyone to take a loan out with them. Your balance never decreases no matter how many years you pay on the account.
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