After going through a divorce and jumping into buying a home, I found out that I had taken on a little too much debt. I received a sales gimick a for home equity loan from them promising to make payments easier and guarenteed approval. I had just missed some days from work due to storm outages for a week.
I was scheduled to go on vacation and see my family, things were just hitting me hard. So I called and was promised a 10 year loan of $124.00 a month. They told me how much more the insurance would be and I told him that I did not want the insurance and he said that was fine. The loan would lower the payments I was making monthly. So I went for it. When I went in to sign the papers the payment was higher then they told me. $152.00 I asked why they were higher.
He gave me some explanation saying that after I established a good payment history my payments would lower. Then they told me how much the insurance was. I told him, that I had specifically asked for no insurance. He said "Oh, I must have misunderstood you. Well, we can change it, but it will take an additional 10 days." I told him I could not wait 10 days and I asked him if I could cancel the insurance if I was not satisfied with it. He told me yes.
Well I have yet to find out how I can cancel the insurance. Now all of a sudden I am getting charged late fees, while I am paying my bills on time. They tell me they are not receiving the payments before the 5 day grace period. Now this month when I received my bill the payment went up $10.00. They charged me yet another late fee and I went and looked up my check on line and it was posted on the day it was due. But I still have a late fee.
Also I am now getting a note that I have a deferred interest due of $52.96, I have no idea what this is. While I was looking at my loan papers trying to figure out just what a deferred interest payment was, I discovered that my 10 year loan is actually a 15 year loan. So I am paying a higher payment then they told me, I am having deffered interest added to my account and I am making that higher payment for an additional 5 years. I am at a loss as what to do.
They lied, they deceived, they are as crooked as they come, they take advantage of people in need. They go over the loan papers, neglecting pertinent information.
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