Complaint / Review
Household Beneficial
Paid over 20K in points on first mortgage, and another 15K when we refinanced!

I have a loan right now with Household beneficial, and we are just coming up on the end of our pre payment penalty, (redeuced from three years to two, when the "settlement" information came in) Another bank recently called me to talk about refinancing my mortgage, so they called Household for a payoff. My loan officer called right away, and said, "don't go with another lender, you know their programs arent good, your on the ezpay, and your loan will be paid off so much sooner..." etc etc. He also mentioned something to me called a "rate reducer". Said he could lower my rate to a fixed 7.95% no fees, no points, no prepayment, etc etc... Sounds too good to be true after I have read so many horror stories... Does anyone out there have any experience with this so called new program??? I haven't made any decisions yet, to leave them, but so far, it seems, my principal IS going down somewhat faster than I thought... We are paying weekly... How can I know if this really is a good loan or not... Anyone have any ideas for me??? Thanks!!