Wilshire Credit
Rate gouging, unwilling to negotiate

I applied for a mortgage 5 years ago, it was immediately sold t Wilshire. The rate became adjustable in 5 years and was a negative amortization loan, both of which I was not told during the closing (notory came to my home).

December my rate became adjustable and they increased my mortgage of 9%. Raising my rate from $850/mo to $1300/mo. I tried to call to negotiate but they would not deal with me unless I was 60 days late. I also sent in the hardship form and never heard back from them. Yesterday I received another letter from them stating they are raising my mortgage again in 60 days, but they did not disclose the new amount. This is just taking advantage. Again I attempted to call, I was transferred 3 times, on hold for 45 minutes, just to be told that Fridays are a busy day for them and I should try to call back during the week when they were slower. When I pushed the issue, I was then told that the computers were down due to high volume (imagine that). I asked about the hardship for that I sent in.

Girl #1 said it was sent in in December but she would have to transfer me, again I was transferred to someone else, who said that they get thousands of these forms, if information is missing they jsut disregard the form. I asked if they contact the individual and ask for the required information and they said no. It is up to us to keep calling back to find out if they have everything they need. These people are "feeders" who are making a living out of our hardship. I cannot refinance now because the mortgage makes my monthly payments too high and my loan to debt income is now high. They will force me to lose the home I have had for 10 years to their price gouging, and they couldnt care less.

Company: Wilshire Credit
Country: USA
State: Oregon
City: PORTLAND
Address: PO BOX 8517
Phone: 8885020100

  <     >