I refinanced my home in 11/02. Within two months, the mortgage was sold to HMS and the fun began. We started getting late notices in February when the mortgage was one day late (15 day grace pd). We were charged $253 in late fees. In June, I was warned via telephone that I could be foreclosed upon if my payment was not made. My husband, whose name is not on the account, but was given access by them to my information, made the payment on-time. When I called to find out why we had late charges, they said they were holding the payment and refused to disburse it until the entire amount was in. They failed to tell us that they had increased my monthly payment by nearly $100. The reasons varied from city/property tax increases to an increase in our homeowner's. Both were true, but the increase added up to $40 per year, NOT per month. When I explained this to them I was told that it is their policy to take a little extra each month to compensate for possible future increases. When I asked for a supervisor, I was disconnected.
I contacted another mortgage company to refinance and get out from under this predatory lendor and was told I have a $5,000 pre-payment penalty which must be paid before I can refinance. Also, the new mortgage company noticed that even though I have had this mortgage for two years, my balance is HIGHER than my original loan amount! I called Household and requested a statement of transactions since the acquisition of the mortgage. I was told I had to pay $20 to have a statement sent to me. My husband called to discuss the situation and now they refuse to speak to him since he is not on the loan. I have contacted our state attorney general's office. These sleaze-balls need to be STOPPED!!!!!!
Kim
Hollidaysburg, Pennsylvania
U.S.A.