HFC is charging me nearly 35% interest on my loan, which exceeds Oregon's Usury Laws by close to 3X!
I live in Portland, Oregon and wanted to establish a second mortgage line of credit so applied to HFC along with two finance companies. After going through an extensive credit review with all three companies, HFC had the highest rates by at least 6% over the next highest - we went with Wells Fargo... HFC came back to me with with a follow-on offer of a $9,000 unsecured line of credit at 18% interest, which I accepted as a 'rainy-day' emergency line of quick credit.
I did max out the credit line several times but never had a balance long enough to make monthly payments. Never late, I would usually pay off the balance within the next month or so.
Year before last, along with millions of other people, I watched all my retirement fund spiral into the toilet while the the banks and HSBC's where bailed outed by the Fed.
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