- Report: #65436
Complaint Review: Household Finance Corp. - Tucson Arizona
-
Author Not Confirmed
Why?
Household Finance Corp.
5411 E. Broadway Tucson, 85711 Arizona, U.S.A.
Phone:
520-7470007
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Household Finance Corp. Ripped off by the dog and pony show Tucson Arizona
Two years ago we refinanced our house through Household Finance. We fell for their dog and pony show with the bi-monthly payments that would pay off our house in 18 years. They showed us an amortization chart that stated our loan would be down to $115,000 in 2 years. Well it is just under $125,000.
We have the payments directly withdrawn from our account so they are not late. They never told us about a pre-payment penalty or the fact that they do not include interest or taxes. They promised to pay off several bills but all of a sudden the closing costs were more than expected. We ate the extra expenses.
The good news is we have 16 days before we refinance to get out of this ripoff scam. We will save $600.00 a month. Buyer beware. If it sounds too good it probably is.
Tim
Sierra Vista, Arizona
U.S.A.
We have the payments directly withdrawn from our account so they are not late. They never told us about a pre-payment penalty or the fact that they do not include interest or taxes. They promised to pay off several bills but all of a sudden the closing costs were more than expected. We ate the extra expenses.
The good news is we have 16 days before we refinance to get out of this ripoff scam. We will save $600.00 a month. Buyer beware. If it sounds too good it probably is.
Tim
Sierra Vista, Arizona
U.S.A.
1 Updates & Rebuttals
Linda
San Diego,California,
U.S.A.
SCORE ONE FOR THE PEOPLE
#2Consumer Comment
Fri, August 08, 2003
This article appeared in today's St. Paul Pioneer Press, and thought it might be of interest to those dealing with Household Finance and Beneficial. There is hope out there. Posted on Thu, Aug. 07, 2003 PREDATORY LENDING: Settlement reached with Household Associated Press MILWAUKEE About 6,900 Wisconsin residents are eligible for part of a $5.1 million settlement with Household International Inc. over alleged deceptive and unfair lending practices, the state attorney general said. Mortgage or home equity borrowers, most of whom are from southeast Wisconsin, should receive claim notices in the mail over the next two weeks. Consumers who obtained a mortgage loan directly from Household International from January 1999 through September 2002 are eligible. Average refunds are expected to be about $750, though they will range from $85 to more than $10,000, according to Attorney General Peg Lautenschlager's office. Consumers must return a claim and release form to receive a refund, which will be paid by the end of the year. The refunds are part of a $484 million settlement involving all 50 states and the District of Columbia. State officials claimed Household International overcharged borrowers with fees and interest and misled them on other loan terms. They also alleged Household concealed the true expense of its home loans, often adding thousands of dollars for insurance policies, and failed to adequately explain fees. The settlement was the largest ever obtained by state attorneys general in a consumer protection case. "It's one of the multistate actions where, not only were we able to get a significant amount of money for the settlement, but we were able to do so in order to restore to consumers' money, that's rightfully theirs," Lautenschlager said Tuesday. Household International, through its subsidiaries Household Finance and Beneficial Finance, is one of the nation's largest sub-prime mortgage lenders. Sub-prime lenders give mortgage loans to consumers with credit problems. Customers often are charged higher interest rates because of the increased lending risk.
