I took out a second mortgage. I was quoted 5.5% fixed rate for 15 years for my loan. Homecomings did this for one year and is now increasing my rate above 5.5%. They are claiming that my rate is variable rate and not fixed, even though I have it one paper that it is 5.5%. I confirmed with their representative and it was 5.5% fixed for 15 years. I could have gone to other mortgage companies at that time at the rate of 5.5%.
This is costing me time and money to fight to correct their unethical, dishonest, and ripoff behavior. I've heard many horror stories about this company, but I never thought it could happen to a prudent person. If you are thinking about financing your purchases, save yourself from future headaches and frustation. Stay away from this company! If you have started a class action lawsuit against this company on a similar subject matter, please post so I could enlist. Thanks.
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