In June I refinanced my home with Equity One. The day after closing, I received a call from the loan rep telling me that Equity One decided that they needed to add a prepayment penalty to my loan — I thought the deal was done, but went in and signed the paper. While signing, the title rep said, "I'm not at all impressed with this..."
This felt wrong. Then I made advance payments before they were due and Equity One documented them as principal only payments for two months and then said I owed two months in payments — when I called to straighten this out, the phone was answered by a answering machine — not even voicemail. This did not improve my already declining faith in my new mortgage holder. After a number of tries, over a period of a few days, I finally spoke with a person.
I am also wondering if they hold checks in order to charge late fees and have decided that I need to send my payment with delivery confirmation.
About three weeks ago I sent Equity One a letter regarding the situation with the prepayment penalty added after closing, siting predatory lending info on the HUD web page. They are supposed to respond within 30 days — we'll see.
Seems to be a very flaky, scamming company.
Aimee
Eugene, Oregon
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