• Report: #223864

Complaint Review: Household Finance Company -

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  • Submitted: Tue, December 05, 2006
  • Updated: Tue, December 05, 2006

  • Reported By:Atlanta Georgia
Household Finance Company -
1455 Pleasant Hill Road Lawrenceville, Georgia U.S.A.

Household Finance Company -Unethical Property Appraisal to boost value and provide (upside-down) loan Atlanta / Lawrenceville Georgia

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Five years ago, I was solicited by Household Finance about obtaining a 2nd mortgage through their company. They sent an appraiser to my condo, who assessed the property more than $30,000 over its actual value. HFC then gave me a $30,000 loan based on this appraisal. The rate was over 13%.

Since then, I have attempted to refinance my first and / or second into one fixed low interest rate. I have been unable to do so because I am "upside-down" on my loan. The reason being was that The property value was no where near what HFC and their "reputable" appraisers claimed it was.

Five years later, the appraiser on my property is $30,000 less than what they claimed it was 5 years ago when the provided me the loan. Now, I am locked into this incredibly high interest rate with no hope for refinancing until I can pay HFC back for the loan plus the high interest charges.

Andy
Atlanta, Georgia
U.S.A.

This report was posted on Ripoff Report on 12/05/2006 11:58 AM and is a permanent record located here: http://www.ripoffreport.com/r/Household-Finance-Company-/Lawrenceville-Georgia-30044/Household-Finance-Company-Unethical-Property-Appraisal-to-boost-value-and-provide-upside-223864. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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