- Report: #56618
Complaint Review: Centex Home Equity - Dallas Texas
-
Author Not Confirmed
Why?
Centex Home Equity
P O Box 19940 Dallas, 75219 Texas, U.S.A.
Phone:
888-480-2432
Web:
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Centex Home Equity decietful, ripoff deceptive company Dallas Texas
*Consumer Comment: fighting Centex as well for a rescission of my loan
*Consumer Comment: fighting Centex as well for a rescission of my loan
*Consumer Comment: fighting Centex as well for a rescission of my loan
*Author of original report: we did not take the loan from Centex until they promised there would be disability insurance on the loan
*Consumer Comment: response to Donna in Merrill,WI and all other victims
*Consumer Comment: Comment to Melody
We went to Centex Home Equity after they solicited our business. We refinanced our home through them only after they promised us there would be disability coverage on the loan. I at the time was a home health aide and spent a lot of time on the road. In that type of profession you never know when you might get into a car accident or injured on the job. I needed to know that my house payments would be made if I should be unable to work for a period of time due to an injury.
We, my husband and I, were told that if we kept our payments made on time that in a year or two we could rewrite the loan and decrease our payments. At the time of our signing the mortage, I was earning $10.38 an hour and working 40 to 50 hours a week.
Two years ago, from lifting patients over a period of 13 1/2 years, two discs in my spine tore and I lost my job as a home health aide because I couldn't lift 50 pounds anylonger. I called Centex and asked them if there was any chance that they could rewrite the loan and lower the intrest rate there by reducing the monthly payments. our interest rate now is 12.99%, the national average interest rate is 4.5 to 7.5%. I explained to them the situation and that now I could only work part time. 16 to 20 hours a week, and that some weeks I am only getting 6 to 8 hours a week and getting paid only $8.10 an hour.
They stated their hands were tied and there was nothing they could do because we didn't have any equity in our home. Last year over $7000 went to interest in our mortgage loan and only a little over $300 went toward the principle. We have had the loan now for a little over 3 or 4 years. When Centex had the house appraised, the appraisal came back at $69,900. We tried to get another company to take over the mortgage and they sent our an appraiser. This appraiser could not appraise it for over $50,000.
My income now is from Social Security $587 a monty and my last paycheck from my part time job was $131. Our house payments are $694.96 a month. My husband is also on social security and has been since 1988. We have not been able to make any payment for April and I don't have any means of making the payment for May either. Our phone has been disconnected due to non payment, and if we don't pay $175 a month our electricity will also be disconnected. We live in the country and have our own water well, so if the electricity is disconnected we will have no water or heat either.
We have come up with the fact, the only thing for us to do now is to let Centex reposess the property. If you have any other solutions or can offer any other help, please email me asap.
Desperate
Donna
Merrill, Wisconsin
U.S.A.
We, my husband and I, were told that if we kept our payments made on time that in a year or two we could rewrite the loan and decrease our payments. At the time of our signing the mortage, I was earning $10.38 an hour and working 40 to 50 hours a week.
Two years ago, from lifting patients over a period of 13 1/2 years, two discs in my spine tore and I lost my job as a home health aide because I couldn't lift 50 pounds anylonger. I called Centex and asked them if there was any chance that they could rewrite the loan and lower the intrest rate there by reducing the monthly payments. our interest rate now is 12.99%, the national average interest rate is 4.5 to 7.5%. I explained to them the situation and that now I could only work part time. 16 to 20 hours a week, and that some weeks I am only getting 6 to 8 hours a week and getting paid only $8.10 an hour.
They stated their hands were tied and there was nothing they could do because we didn't have any equity in our home. Last year over $7000 went to interest in our mortgage loan and only a little over $300 went toward the principle. We have had the loan now for a little over 3 or 4 years. When Centex had the house appraised, the appraisal came back at $69,900. We tried to get another company to take over the mortgage and they sent our an appraiser. This appraiser could not appraise it for over $50,000.
My income now is from Social Security $587 a monty and my last paycheck from my part time job was $131. Our house payments are $694.96 a month. My husband is also on social security and has been since 1988. We have not been able to make any payment for April and I don't have any means of making the payment for May either. Our phone has been disconnected due to non payment, and if we don't pay $175 a month our electricity will also be disconnected. We live in the country and have our own water well, so if the electricity is disconnected we will have no water or heat either.
We have come up with the fact, the only thing for us to do now is to let Centex reposess the property. If you have any other solutions or can offer any other help, please email me asap.
Desperate
Donna
Merrill, Wisconsin
U.S.A.
6 Updates & Rebuttals
Priscilla
Peabody,Massachusetts,
U.S.A.
Comment to Melody
#2Consumer Comment
Sun, August 01, 2004
Hi Melody from Wisconsin, All of us are fighting this company and there is a major law firm interested in our stories. You need to visit the other forums on the net to see what I'm talking about. There are lots of us and I am trying to do my best to take Centex down. We all have contacted everyone we can think of including the Department of Justice, FTC, and lots of other important entities. Yes, we need to band together to fight them and would love to speak more to you on this. We need everyone to come together as it's better in numbers. Please respond to this and seek out the other forums on predatory servicing and mortgage frauds. Search for those on the net and you will see us. I'm not giving up and neither is everyone else. I have helped save some homes from Centex's foreclosure and have pointed people in the right direction just like you are. ACORN is another good agency to contact. Please try and find me on the other forums. I have information for you as to a possible class action suit. Take care and please respond to this.
Melody
Wauwatosa,Wisconsin,
U.S.A.
response to Donna in Merrill,WI and all other victims
#3Consumer Comment
Sun, July 11, 2004
We,too, have been victims of Centex Home Equity,who have ruined our credit rating,cost us thousands in legal fees and tormented our family for the last three years. In reading some of the other stories, it was just like reading my own! I have filed complaints with the Department of Revenue Financial Institutions and initially we received a polite but tough luck response from them. I was not satisfied with that so I kept knocking on other doors and received help from Senator Herb Kohl and Senator Russ Feingold. Though this takes a fairly long time to resolve, I just received a letter from Herb Kohl last week, indicating that this has also been sent on to the Fair Trade Comission in Washington D.C.I would recommend that you and any others in our state immediately fill the e-mails of Herb Kohl,DFI and other agencies. While I have not found them to be terribly speedy, if they suddenly receive dozens of reports on the same company, they will have to notice. We are days away from being forced out of our home but I plan to take the information on this site and contact our local media. Please be vocal and let's band together to stop these theives from stealing from us and not allow them to do this to others. Keep in touch!
Priscilla
Peabody,Massachusetts,
U.S.A.
fighting Centex as well for a rescission of my loan
#4Consumer Comment
Tue, May 25, 2004
Donna, did you lose your house? I am fighting Centex as well for a rescission of my loan. They have violated TILA, HOEPA, RESPA, and others. I am interested in hearing from you regarding your loan as I can point you in the direction for some help. You are with a predatory lender and now the NCRC is investigating Centex's practice. With all my letters to the appropriate Federal and State agencies, someone is starting to notice that Centex is a predatory lender waiting to take all of our homes away from us. Hopefully, you still have yours.
CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
Priscilla
Peabody,Massachusetts,
U.S.A.
fighting Centex as well for a rescission of my loan
#5Consumer Comment
Tue, May 25, 2004
Donna, did you lose your house? I am fighting Centex as well for a rescission of my loan. They have violated TILA, HOEPA, RESPA, and others. I am interested in hearing from you regarding your loan as I can point you in the direction for some help. You are with a predatory lender and now the NCRC is investigating Centex's practice. With all my letters to the appropriate Federal and State agencies, someone is starting to notice that Centex is a predatory lender waiting to take all of our homes away from us. Hopefully, you still have yours.
CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
Priscilla
Peabody,Massachusetts,
U.S.A.
fighting Centex as well for a rescission of my loan
#6Consumer Comment
Tue, May 25, 2004
Donna, did you lose your house? I am fighting Centex as well for a rescission of my loan. They have violated TILA, HOEPA, RESPA, and others. I am interested in hearing from you regarding your loan as I can point you in the direction for some help. You are with a predatory lender and now the NCRC is investigating Centex's practice. With all my letters to the appropriate Federal and State agencies, someone is starting to notice that Centex is a predatory lender waiting to take all of our homes away from us. Hopefully, you still have yours.
CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
Donna
Merrill,Wisconsin,
U.S.A.
we did not take the loan from Centex until they promised there would be disability insurance on the loan
#7Author of original report
Mon, May 12, 2003
In my original report I mentioned that we did not take the loan from Centex until they promised there would be disability insurance on the loan so our payments would be made if any thing, an accident or illness, that prevented me from working. Needless to say, when we got the papers to sign for the mortgage they were confusing and in one part said there was disability insurance included on the loan. When I got injured 2 years ago and filed for the insurance to make the payments, we were told that there was no disability insurance but there was an unemployment insurance, but it only covered if the company you work for had to lay you off due to lack of work.
