Wayne Hirtreiter from Conseco Finance offered me a consolidation loan last May. He said he was adding 1st & 2nd mortgages together, but didn't.
In May of Wayne Hirtreiter from Conseco in Mobile, Ala. Offered us a deal to consume a couple of creditors and 1st Mortgage. I told him I was interested, but how about including 2nd mortgage or just consolidate the two mortgages. He said OK, but I need a couple of creditors to make it work. I said are you consuming both mortgages also and he said I'll fit it in. I was happy so I told the wife and shared the news. The deal was 18 year plan for 765.00 a month, no escrow though. Well if your saving me, I can fit in escrow. Well, in every conversation there on I would ask about the consolidation to make sure he was including the 2nd mortgage also and he would reply, the loan would fall in with, fall beside, and findly subordinate. Being a country boy I didn't recognize that word so I asked what he meant and again in other words included in loan. So, down to the papers signing and watching him explain terms, never did he say you will still have two mortgages. They were paying off creditors and 1st mortgage only. After, I received an over due statement the month following agreement, I called Wayne and asked why am I receiving this on my 2nd mortgage and he replied we didn't include it. I thought you were by what you kept saying, and he said no I could have, but not the creditors also. I told him I would have never done the loan in that case and I found out in fine print they didn't either. He claimed he was saving us money by taking the creditors, which was about 300.00 a month he claimed. Well, cards can carry out for a long time and pay more or less to your convinience, but now I'm paying 1034.00 a month 765.00 plus my 2nd for 269.00 and my own escrow which is about 800.00 a year. My 1st was before conseco with escrow 439.00. Thats 708.00. I could stretch out my credit payments and my escrow was included in my 1st mortgage. Do your math, where did he save me. I went to his manager, home office, I was told by one after explaining this senerio that they would help me and didn't and was explained how much again they were saving me. At one point when I went to see manager of local branch another salesman I told story to said how come he didn't just tell you that you would have two mortgages instead of leading you on. Cause by what a salesman from California told me that's how they sew up the sale, make commission, by telling you what you want to hear. I signed the paperwork and trusted my agent. To all, please read any and everything, have someone other than yourself of over your mortgage agreement. There has been a lot of screwed over people by this organization that I've heard through other agents that are trying to help people like me find ways out. I have heard they are going bankrupt by news officials, all I can say is God works in mysterious ways!!!
.
0 comments