HFC Beneficial - Beneficial Consumer Discount Company Loaned an extravegant amount of cash to remortgage RipoffJohnstown Pennsylvania
The company allowed us to refinance our home. The appraisal was very high, over $100,000. We were permitted to borrow 100 % of the value. Now we are almost at the point of forclosure because we cannot and have not been able to make their payment and keep up with the rest of our bills on a monthly basis. Now with property values down in our area, we cannot even hope to sell the house for an amount to clear the finance amount. There are at least 20 houses in a 6 block radius to our address that are comparable in size that are prices at least $30,000 less than we need to sell our property to break even.
Kathi
Somerset, Pennsylvania
U.S.A.
1 Updates & Rebuttals
Amber
Redlands,California,
U.S.A.
This isn't really all their fault
#2Consumer Suggestion
Mon, April 07, 2008
As much as I think they are a ripoff and yes, they over appraised your home, but you did not have to borrow the entire amount. Anyone in your position should never borrow that much against their home, it is a recipe for disaster as proven here.