We were welcomed into the wonderful world of hiden charges and foreclosure by Homecomings Financial. We signed our loan papers (like sheep being led to slaughter) and things were fine for the first two years, then our intrest rate went 4.5% at $750.00 per month to 5% then 8% they settled on 14.5% and our payments?
They went up to $1700.00. Why? Because they tied our loan to the Euopean index. From Iowa to Europe how's that work? As we drained our savings and my wife taking a second job we just couldn't hang in. They had buried this intrest deal among the fine print and it took an attorney to find it. Thank goodness for my parents and a local bank.
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