- Report: #382116
Report - Rebuttal - Arbitrate
Complaint Review: Wilshire Credit Corporation
Wilshire Credit Corporationwww.wcc.ml.com Portland, Oregon U.S.A.
Wilshire Credit Corporation Said they would help with varible rate and reduce payment by modification....don't believe them Portland Oregon
I contacted Wilshire directly and asked if there was anyway they could help us. After numerous phone calls lasting well over an hour (because of being on hold); we were told they would help us. So we received a "Loan Modification Agreement". We were under the impression that our interest would become fixed and our payment would be adjusted. The interest rate was dropped only 1% and our payment never changed because they took the money that we owed along with interest on the back end of the loan. So not only did our payment not change we now owe almost $8,000 more than we bought the house for. Of course, we still cannot refiance and we are stuggling to stay afloat.
To make matters even worse we called a modification company and they were a scam (another report) and they got us for $700. I can not win for loosing. Stay away from New Hope Modification LLC they are a scam.
This report was posted on Ripoff Report on 10/17/2008 06:57 AM and is a permanent record located here: http://www.ripoffreport.com/r/Wilshire-Credit-Corporation/Portland-Oregon-97207/Wilshire-Credit-Corporation-Said-they-would-help-with-varible-rate-and-reduce-payment-by-m-382116. 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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