Complaint Review: Centex Home Equity - Dallas Texas
- Centex Home Equity PO Box199400 Dallas, Texas U.S.A.
- Phone: 888-480-2432
- Web:
- Category: Corrupt Companies
Centex Home Equity - Nationstar Home Equity Privacy Act Dallas Texas
*UPDATE EX-employee responds: Ex Employee Speaks Out - Centex Home Equity. They are a prime example of a predatory lender
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My husband and I signed a 30 year mortgage with Centex
Well, we have been having some luck in the last 10 months. I was layed off and my husbands business burnt downn (arson).
Well this company did not want to hear our sad story. My husband is trying rebuild his business and I'm looking for another job. (We live in Louisiana - 45 minutes from New Orleans.Our business was brand new. No one wanted to write us any insurance because of hurricanes Katrina and Rita. So, we had no insurance and we quit counting at $150,000.00 on what we lost. So, we got behind on our mortgage payments (2 months).
We signed the contract with 5 references to contact us if they could not get in touch with us. Well, they contacted my ex-husband of 10 years. He was not one of my references. I had a protective order against him. Anyway,he lives with his sister who has a different last name than him. Centex called him and told him I was behind on my mortgage. I was so furious that I called Centex immediately and let them know what they did. She responded with that they had a special company that works for them that investigates for them to find their "people". I filed a complaint with my Attorney General and I'm suing Centex. That was breaking the Privacy Act and Breach of Contract. Also, my ex-husband is suing them.
So, this is my situation with Centex. They are cruel vicious people. I have asked over and over again about paying an extension payment and always getting NO.
Babette
Plaquemine, Louisiana
U.S.A.
This report was posted on Ripoff Report on 08/10/2006 01:55 PM and is a permanent record located here: https://www.ripoffreport.com/reports/centex-home-equity/dallas-texas-75219/centex-home-equity-nationstar-home-equity-privacy-act-dallas-texas-205485. 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
Ex Employee Speaks Out - Centex Home Equity. They are a prime example of a predatory lender
AUTHOR: Frank - (U.S.A.)
SUBMITTED: Wednesday, November 01, 2006
Yes, I use to work as a Sr. Loan Officer for Centex Home Equity. They are a prime example of a predatory lender. This is a practice of convincing borrowers to agree to unfair and abusive loan terms.Although predatory industries in general are more likely to target racial minorities, women, and the elderly,[citation needed] victims of predatory lending are represented across all demographics.
Predatory lending normally occurs on loans backed by some kind of collateral, such as a car or house, so that if the borrower defaults on payment, the lender can profit by selling the repossessed or foreclosed property. Other types of lending sometimes also referred to as predatory include payday loans, credit cards, and overdraft loans, when the interest rates are considered unreasonably high.
There are many lending practices which have been called abusive and labeled with the term "predatory lending." There is a great deal of dispute between lenders and consumer groups as to what exactly constitutes "unfair" or "predatory" practices, but the following are sometimes cited.
Also they hire loan officers with no mortgage experince to teach them there way the "predatory lending way"


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