Report: #261602

Complaint Review: Champion Mortgage

  • Submitted: Wed, July 18, 2007
  • Updated: Wed, July 18, 2007
  • Reported By: ALTOONA Pennsylvania
  • Champion Mortgage
    2 Gatehall Drive
    Parsippany, New Jersey

Champion Mortgage Ripped me off! ripoff Parsippany New Jersey

*UPDATE EX-employee responds: Numbers

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I took out a mortgage with Championon 4/10/02. The amount financed was $41,200.00. The finance charge for 30 years is $131,759.22. I was separated from my husband at the time and feel that Champion took advantage of me. This finance charge is more than triple what I had borrowed. Also, on my contract they have that the secured property address is xxAvenue, Altoona, PA 16601. This is in-correct. The correct address is xx. It also says on my contract that if the lender offers to give you a mortgage with a variable interest rate, you are entitle by law to also be offered a mortgage with an interst rate which will not change. I was not offered a fixed interest rate.

I feel that Champion Mortgage took advantage of me knowing the situation that I was in. They now have my home in foreclosure. I lost my $35,000 a year job in 2/2003 and tried to work with them to help me. This was my childhood home and have lived here for 41 out of my 44 years.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

Mary Ann
ALTOONA, Pennsylvania
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This report was posted on Ripoff Report on 07/18/2007 08:55 AM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 UPDATE EX-employee responds


AUTHOR: workingman64 - (USA)

The finance charge makes sense because you took a second loan out at about 9%; presumably you had banged up credit.  That figureis normal and you will see that if you check out an online amortization calcualtor.

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