Two years ago we refinanced our house through Household Finance. We fell for their dog and pony show with the bi-monthly payments that would pay off our house in 18 years. They showed us an amortization chart that stated our loan would be down to $115,000 in 2 years. Well it is just under $125,000.
We have the payments directly withdrawn from our account so they are not late. They never told us about a pre-payment penalty or the fact that they do not include interest or taxes. They promised to pay off several bills but all of a sudden the closing costs were more than expected. We ate the extra expenses.
The good news is we have 16 days before we refinance to get out of this ripoff scam. We will save $600.00 a month. Buyer beware. If it sounds too good it probably is.
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