Complaint Review: Countrywide Home Loans - Atlanta Georgia
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- Author Confirmed
- Countrywide Home Loans 2490 Piedmont Rd NE Atlanta, Georgia U.S.A.
- Phone: 404-467-8700
- Web:
- Category: Mortgage Companies
Countrywide Home Loans Ripoff Termination Fee for HELOC Atlanta Georgia
*Consumer Comment: THANK YOU!
*Consumer Suggestion: Why is this a ripoff?
Show customers why they should trust your business over your competitors...
Beware, HELOC loans from Countrywide have a $350 termination fee that will never be waived.
I've been a terrific customer for Countrywide for 10 years, but no more. Even though I never used the loan, and it's been 4.5 years, and now I'm selling my house, I still must pay the fee. If I don't, Countrywide won't release my deed and I can't sell my house.
I spent an hour holding and talking to a myriad of agents (Carla) & supervisors (Arlene at 800-669-2443 ex 6248). In the end, they won't waive the fee and they don't care if I ever do business with them again.
I've never posted a complaint for a company before. No wonder their stock price is falling!
Bill
Atlanta, Georgia
U.S.A.
This report was posted on Ripoff Report on 07/24/2006 02:10 PM and is a permanent record located here: https://www.ripoffreport.com/reports/countrywide-home-loans/atlanta-georgia-30324/countrywide-home-loans-ripoff-termination-fee-for-heloc-atlanta-georgia-202664. 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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#2 Consumer Comment
THANK YOU!
AUTHOR: Henry - (U.S.A.)
SUBMITTED: Friday, November 10, 2006
I AGREE!!
#1 Consumer Suggestion
Why is this a ripoff?
AUTHOR: Steve - (U.S.A.)
SUBMITTED: Monday, July 24, 2006
Why is this a ripoff?
I see several Countrywide HELOC docs each month (we originate them as brokers) and I would wager you that the early termination fee is listed in at least 4 places on the docs you signed when you closed the loan. There is even a separate rider that addresses this.
If you never used the line of credit, then you COST Countrywide money just to carry you on the books, send you statements every month, and to carry reserves adequate to fund that amount in the event you wrote a check up to the line amount all in one shot.
How much did Countrywide CHARGE you to create the line of credit? Typically, they open them for free.
Just pay it and move on. Geez.
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