Hfc Beneficial Lied Is The Only Way To Describe Their Behavior. Carol Stream Illinois

...but you have no idea what you are talking about.

This lender has a proven history of doing this exact thing to people.  For one thing, they offered a plan where the interest rate would step down every consecutive 12 months of on-time payments.  I signed papers with them for my mortgage in 2006 under the same plan, and now 9 years later after lots of searching, I cannot find one single person that signed on for that deal that actually saw the rate reduction happen on their loan.  Not ONE. 

Also, I was fed the same nonsense from them when we applied...."just make your payments on time and we will put you into a much better loan."  Well, we made our payments on time all right....then, they scammed us anyways.  When we applied to refi for a better rate, this lenderdenied us, claiming that we had too high a debt to income ratio.  The reason?  They applied our mortgage TWICE as debt.  Last time I checked, we only paid one mortgage, and we were denied because the D/I showed exactly twice the actual mortgage payment per month. 

I asked why, and was told that since both I and my wife were on the loan, they had to calculate it as though it were two separate debts.  What kind of sense does that make?  The loan officer stated that since each of us was responsible individually for the payment, "it creates a double debt on paper".  So, I'm happy for you that you work in the banking industry, but in case you were not aware, the banking industry is perhaps the single most corrupt enterprise on the planet these days. 

It's a funny thing too, because I could not find a single other lender anywhere that agreed with their assessment.  Each one I spoke with, when I showed them the printout from HSBC/HFC/Beneficial/whatever else they call themselves, immediately noticed the error.  And they stated it as that--an error.  Once I explained that we were promised a better loan if we took this one, they generally had the same reply--that we got screwed over. 

Complaint As appears in your post:

 We got a consolidation re-finance thru HFC. They were upfront about the high interest rate but told us after 1 year if our payments were on time, which they were, we could re-finance thru a new program they were getting with a much lower rate. 

It seems you were denied the ability to refinance  your loan, and you are upset, and think that HFC  Beneficial is conspiring against you. 

Answer As it appears in your post:

And yes we would re-finance but we owe more than the house is worth.

FEDERAL Law requires that a home owner have at least 20pct equity in the house before refinancing can be done.  At your own admission you have negative equity in your home, as you say you owe more than the house is worth.  When you refinanced your home loan a few years ago the first time, you must have had equity (at least 20pct).  I am betting that this was before the 2008 Housing Market Collaspe.  After 2008, millions of homes in the US went underwater, and may never see dry land again.  Your only other option is wto walk away from the mortgage, but then your credit will be in ruin's, and they may be able to come after you for the balance after the home has been sold at a loss.

Sorry, blame the Federal govt, not HFC Beneficial Finance.

And Yes, I do work in the banking industry, so I know what I am talking about.