- Report: #403593
Complaint Review: Homecomings Financial - Miami Florida
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Homecomings Financial
Miami, Florida, U.S.A.
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Homecomings Financial One House they didn't get! Miami Florida
We were welcomed into the wonderful world of hiden charges and foreclosure by Homecomings Financial. We signed our loan papers (like sheep being led to slaughter) and things were fine for the first two years, then our intrest rate went 4.5% at $750.00 per month to 5% then 8% they settled on 14.5% and our payments?
They went up to $1700.00. Why? Because they tied our loan to the Euopean index. From Iowa to Europe how's that work? As we drained our savings and my wife taking a second job we just couldn't hang in. They had buried this intrest deal among the fine print and it took an attorney to find it. Thank goodness for my parents and a local bank.
Roy
norway, Iowa
U.S.A.
They went up to $1700.00. Why? Because they tied our loan to the Euopean index. From Iowa to Europe how's that work? As we drained our savings and my wife taking a second job we just couldn't hang in. They had buried this intrest deal among the fine print and it took an attorney to find it. Thank goodness for my parents and a local bank.
Roy
norway, Iowa
U.S.A.
1 Updates & Rebuttals
Chetsteadman
Rocket,Illinois,
U.S.A.
Read the documents before signing
#2Consumer Suggestion
Tue, December 23, 2008
I find it difficult to believe it took an attorney to find the verbiage in your note that indicated the rate was based off a European index. This is another example of the American consumer feeling ripped off because they didn't due their own due diligence on what will be their biggest investment in their lives. In the future please be sure to read over any contract and if you are uncomfortable with signing the documents leave the signing asap.
