New Century Mortgage Corporation Unscrupulous predatory sharks ripped us off!! Columbus Ohio

Filed on : July 27 2006

Filed by :
Joyce
6870 morgan rd
cleves OH 45002

Filed against :
New Century Mortgage Corporation
4349 Easton Way Ste 125
Columbus OH 43219-6174

Complaint Description:
On 8/26/2004 we were the victims of predatory lending by an unscrupulous broker who took advantage of our ignorance.

We walked in owing $117,188.67 was talked into a stupid 'bandaid loan' INTEREST ONLY with a two year ARM and we walked out owing $128,250.00!

With all the junk fees added the total settlement charges were an ungodly $10,192.29! The broker pocketed $6,400.00 himself and then turned around and sold our loan!

Due to his greed we lost all equity in our home and now the ARM is due and the current loan company Countrywide refuses to refinance because we own a manufactured home.
So I must find some one else to (trust) refinance-hence once again jack up our loan.

We want to know if the abusive fees and closing costs violated the FTC Act, HOEPA, TILA and RESPA and are requesting a comphrehensive review of our loan as well as its entire Morgtage portfolio. I hope they will be forced to provide restitution.

Joyce
cleves, Ohio
U.S.A.