Household Finance

Household Finance

 1.1/5 (56 ratings)
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About Household Finance

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Page 2 Reviews 10 - 40
Rated with 1 star
Verified Reviewer
Original review: Oct. 21, 2014

HFC is paid directly from my bank with a 5 day USPS mailing. The payment is mailed FROM MY BANK well within the time required for delivery, not to mention the grace period. It is NEVER posted until 6 days after the grace period has expired. I am paying them on time FROM MY BANK, and they are holding those payments to assess late fees and penalties which I SHOULD NOT OWE. Calls to them are useless. "Jessica" there told me they could NOT correct the error within 5 business days. I have advised them that I will take legal action if this is not resolved in my favor.

20 people found this review helpful
Rated with 1 star
Original review: Oct. 21, 2014

Paid off my loan in 2005. They merged with HSBC in 2004. I was served court papers with only the last four account numbers asking for this large amount 2012. I have been living in my home over 20 years. How come they could not send me any paperwork? Same address.

18 people found this review helpful
Rated with 1 star
Original review: Oct. 21, 2014

I just received a call from a collections for this company & was informed that I owe them $, and I never had a loan with this company.. I was extremely mad I have no information regarding the account number & they have a wrong address on me, and I explained to them that it wasn't me & they will see me in court.. the address they have on me is wrong.. I never lived there & also I haven't had a credit since 1986 & every time I call back because I'm a little angry & load they hang up on me not once but 3-4 times.. who ever is doing research needs to skip tracing a lot better & the guy made a threat comment about me driving & hire an attorney! Terrible collections. I don't even have a case number and they would not give me one.. They are very ugly people who just hang up & say you will be summons to court!

14 people found this review helpful
Rated with 1 star
Original review: Oct. 11, 2014

I took out a loan for $10,000.00 in 2003. I have made timely payments monthly of $195.00 for 11 years and the 10,000.00 amount never changed "once" (I did take a $800.00 loan out medical stuff) but since it's at 19.9 interest rate. Well since a new company has taken over my balance is dropping, same interest and monthly payment. So why is this?

14 people found this review helpful
Rated with 1 star
Original review: Oct. 10, 2014

For weeks I have been receiving calls from Household Finance Collections. They are calling my personal cell and the message says if you are not Karen ** please hang up. I am not Karen ** and do not know a Karen **. Then they call again. Today I stayed on the line and hit 0 for an operator. No answer. Called the number back, no answer. Third attempt, I reach a person and told him that they needed to take my personal number off their system as I am not Karen **. Why are these foreign collection companies able to repeatedly call people even if they have no account via a recording. All collections should be done by a person who can verify the number and who it is, so they can quit harassing calls to the wrong person.

12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 8, 2014

In 1997 I was called many times by household finance because I was trying to refinance from bank of america. They talked my wife and I into coming to their office to see what they could do for me. I kept telling them that there was no way they could help me. They told us that because of what bank of america did to my credit. They scammed me into a 11.33% interest rate and told me that they would refinance me in a year for a lower rate. Thus when the time came, to refinance, they told me they were no longer doing loans. I have tried to get them to lower my interest rate and they won't. They say that they do not have to abide by the rules in the United States. I am a veteran and am about to lose my home that has been in my family since 1963. This is my home, not just a house. I even have a lawyer and his hands are tied. Is there anyone out there that can help? Please, these people must be stopped.

22 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 29, 2014

They gave out loans against your home and said your home was worth more than it was. Once you signed the loan papers, they changed your adjustable from a 30 year fixed to a adjustable. Then someone would call and tell you your loan would be $4000.00 a month. Then because they never sent a bill for that much

they didn't worry they would get caught. How come no one is doing anything about household finance in California. They are doing the same thing they did in every state. This is 2014 I lost my home after living there over 25 years and household got away with cheating me and others in California.

14 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 24, 2014

I have been, for several years, being told that my monthly payment is double the actual payment owed. The fact of the matter has always been this, I owed my regular payment as well as fees. When told what the amount due is, there is never a differentiation between the actual amount due and the fees. I have paid my monthly payments and recently been paying additional money directly to the fee amount. HFC won't process my payment directly to those fees. Instead, I have to chase down their financial people to have the money applied after the fact. They refuse to give me written confirmation that the additional money I pay them is going directly to those fees. If I pay toward a separate account called "fees" why do I have to chase this down? Why can't I get written confirmation of these fees being paid? They get my money and I have to make sure they do their job correctly??

12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 19, 2014

Not quite sure about everything involved. Father told me they sent him a bill stating he had to pay 6000 dollars. He went to BCAP for assistance and when they called HFC, they said it was a mistake. He tried to restructure and they gave him two options, none of what he asked for, short sale or deed in lieu of foreclosure. They also said be restructured already when he didn't. Help, what is our next move?

17 people found this review helpful
Rated with 1 star
Original review: Feb. 26, 2014

I have been trying to get a refinance loan on my house that I bought for $85000 in 1985. In 1995, I took out a second mortgage for $40000. I used HFC for both. I always make my payments. Never late. I still owe $80000 total for both. So I decided to refinance to get a lower interest rate. A title search was done and I found that I have a foreclosure in '97 and they have not reported to the credit bureau that I have been making my payments since 2007. Mind you, payment is drawn from my account every month. So of course I was denied the refi loan. So I called them to find out what this is all about and they put me on hold for a 1/2 hour. Then they told me that they cannot talk to me about my account, because that I have a lawyer which I don't have.

Asked for the name of the lawyer and was told that they can't give me that information. Then was told that I need to fax a letter to them saying I don't have a lawyer signed by me. I asked to talk to a manager and I was put on hold for another 20 mins. Then was told the manager is not around probably assisting valued customers like myself. Which made me laugh to myself. They will not help, will not talk to me. I need to get out from under them. Or I may die trying to pay them off. It seem like they are doing everything in their power to keep me in their clutches.

22 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Feb. 10, 2014

Can someone explain to me why HFC does not have to comply with HARP rules. HSBC is the parent company of HFC and is a part of HSBC is a part of HARP. But if you loan is with HFC they will not help you. It seems as though they turned all home loans into something else just so they would not have to follow the rules (Loan Sharks). I have been with HFC since 2008. It was a bad loan and that was my mistake. I should have followed my heart and not signed the paperwork that day in the Bowie Maryland office.

Since then several members of my family loss jobs, moved in, loss cars, etc. But I managed to do the right thing, so I thought, by paying my modifications on time. Hoping that when the housing crisis made some changes, HFC would see that I was in good standing and want to help. But no. I paid my mortgage one time for 4 years straight. While other companies were lower interest rates and taken money off, HFC refused to help. The last increased interest rate modification is more than I can afford pay. Since then the car I was borrowing broke down. I was using a friend's vehicle that also broke, and the house needs major work.

I continue to search for a loan companies to help but being on a modification and now being behind for almost 6 months, chance of getting help is slim. I could have walked away from the house years ago and by now have a newer and larger house. HFC is predator, unethical, and scammers. Their tactics remind me of a drug dealer. People want to keep their homes so the dealer will give just enough help to string them along. They give you the impression that they are helping but they are not. I have written a letter to the board of directors, but frankly I do not expect them to help. I do not expect to get a reply at all. If I were to get a response from them all I want is my interest rate to between 3% - 4% permanently. When the rates lower, I had no issues paying. I want HFC/HSBC to be fair.

20 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 20, 2013

Household took a 70,000 home and made it worth 250.00. It went from a 30 year fixed mortgage to a adjustable loan without us knowing. Think Who would ever change a 30 fixed mortgage to adjustable one. Then the payments went up. It started at 900.00 to 1199 then 1899. Then in 2012 4,000. We tried to get them to work with us. Then we went to a short sale, they turned down everything, the last offer was 109,900. They turned it down in September 2013. I got the letter from HFC saying the offer was turned down, along with another letter from a different company saying our home was going to sold at an auction. So I called HFC and asked the lady why the short sale offer was turned down, she said it was too low. Then I told her about the other letter about my home being sold at auction, she said there was nothing in the computer about Foreclosure and "it will be ok and don't worry." I said ok.

Then in November the 15th I got a letter from a law firm stating I can fight the sale of my home that was sole at auction on November 5 2013. For 100.00 lower than the short sale offer. I had no idea that was coming. I just talked to Household last month. Did this company they sold my home to pay HFC the other 150,000? Why didn't they take the short sale offer, did they want me to have bad credit? Someone needs to stop these people for the underhanded things they are doing. The government needs to look around and see all these homes in foreclosure there must be a reason. We had home because it was the American dream and we had jobs, but all it was with HFC was a nightmare. If there is someone out there that can help me, please do. They took my home in a foreclosure I didn't even know about, that I asked about the month before. And why was the lawsuit the National Foreclosure settlement just until 2011 when it's still going on.

16 people found this review helpful
Rated with 1 star
profile pic of the author
Verified Reviewer
Original review: Nov. 26, 2013

I had gotten a second mortgage with Household Finance several years ago. I was told if I paid off the loan early within 5 years I would be charged an 'early payoff fee.' My loan was sold to a company called Springleaf by Household. When I received my first statement from them I noticed a "accrued interest" amount ($494.49). I called Springleaf. They told me that it was a fee that Household Finance charged me because I paid my loan payments early and $10-$50 more each month than what my set payment amount was. I wrote a letter of complaint to Springleaf. They said that there was nothing that they could do about it. I contacted Household and they said that there was nothing that they could do about it because they no longer owned the loan.

I didn't PAYOFF my loan early with Household. I just paid a little extra each month and made 1 $5,000.00 extra payment when I had sold something. It is so unfair that I am being charged a fee because I paid my payments early and with a little extra. I would NEVER EVER do business with them again. I will tell everyone that I know to NEVER do business with Household Finance.

18 people found this review helpful
Rated with 1 star
Original review: Oct. 11, 2013

I called today to tell them I was trying to get on their website and it's been telling me for a week to try again. When I called the first time, I got a Customer Service person from another country that you couldn't understand and said I had to fax a letter so they could discuss my account. I have talked to them in May, June, July of this year and talked about payoffs. No one asked me for a letter so they can talk to me then. Oh and my account is more than current. I ask to talk to someone in the United States and they switch me to someone. They told me the same thing; ask to talk to a supervisor and she told me the same thing. They won't even send me a statement or my payoff without the letter and they won't tell me why until I send the letter. I would not recommend them to anyone. Now I know why they had to close all their offices. Only did they let money to people way over their credit line and they knew it but are totally not customer friendly at all; was on hold for 5 minutes, then again another 2. They get putting me on hold and I still didn't get what I need. Worthless and can't wait to pay them off. Ask to take to the supervisor and they gave me a Mary and ask to talk to someone that had some kind of authority to get me what I need and they couldn't.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 27, 2013

I have been requesting a modification with Household Fin Realty Corp of NY (Member HSBC Group) regarding a mortgage loan that was obtained by deceptive practices in 2007 when I was shopping around to refinance a 30-day delinquent mortgage due to decreased overtime. I stated to the lender that I was only interested in a Fannie Mae/Freddie Mac loan. This lender kept preying by calling, approved me for a mortgage of $2,666.63 and stated I am required to pay the Home Insurance and Property Taxes because they do not cover those expenses. This company never presented the entire picture of the loan, only verbally stated the mortgage payment. In addition, at closing, I was told no attorney required and this is standard simple refinancing. At closing this lender, push a paper to me assuring this was a Fannie Mae/Freddie Mac loan, which they knew, was my standard to sign off on the loan that they claimed was mailed to me later (never received). After losing a second job when the economy was tumbling, I had financial difficulty paying my mortgage and that is when I realized the terms of this mortgage was not as stated.

In 2009, after learning about their deception, Household Fin Realty Corp of NY (Member HSBC Group) representative had me believe that with continued good payments on a temporary modification that it would turn permanent. Now, HSBC say they cannot verify past statements because the Mortgage sector HFC of the branch is no longer in existence. I am now working with Neighborhood groups to avoid my house in foreclosure, which is requesting a modification from Household Fin Realty Corp of NY (Member HSBC Group) that continues to decline the request stating not within guidelines. They said it was hard to figure a base income in which I provided them documentation with a person of contact to determine an affordable mortgage. My question is how I qualified in 2007 with Household Fin Realty Corp of NY (Member HSBC Group) when the Mortgage Industry had Rules, Regulations, Guidelines, and Banking Laws in place with a less amount of verifiable income than today. I am a devastated consumer fighting to keep my property with all the money I have paid out today. In addition, when I call to speak to the persons assigned to my account, either no one answers the phone or they hang up on me.

This company has taken the liberty to make transaction agreements on my account without my consent or informing me first of any changes to my loan. I do not know when they are increasing my balance or deferring interest to keep me locked into this loan. I still do not know what the deferred interest is, is it from the past modifications? I have called to speak to the individuals assigned to my account and they have not returned a call. I do not understand how the consumer agencies allow HSBC the freedom to entrap individuals or do whatever it is to consumers or their accounts, then they make guidelines to their benefit. I still need help with this fraud induced mortgage loan that I was entrapped to sign. I trusted that people are in an honest business. Otherwise they will be held accountable for their shams. This lender is not working with me in staying in my home. Again now they are using banking laws to protect their fraud interest.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 19, 2013

I left HFC many years ago because of the way they mistreated their employees. I went to night law school and now practice consumer law in CA and AZ. All of the HFC offices were regulated by each state's Department of Consumer Finance Regulators; in CA it's the Dept of Corporations for example; HFC shut down all offices nationwide in 2008 I think it was. DEED IN LIEU process - lenders typically refuse these on property you want to get rid of but the bank won't foreclose; these are called zombie foreclosures and you can google the horror stories online.

Even a bankruptcy won't get rid of the house and the HOA ongoing dues, property taxes etc. www.zombieforeclosure.info is our informational site on zombie foreclosures. The other thing to keep in mind is bankruptcy - Chapter 13 spreads the payments out over 3 to 5 yrs, 0% interest on the unsecureds. Chapter 7 wipes out unsecured debts. Hopefully your state regulators can help with some of these problems described.

10 people found this review helpful
Rated with 1 star
Original review: Aug. 9, 2013

HFC has not posted any of my house payments since April of this year. They have some of my payments on HOLD and my last payment is missing. They are charging me interest and late fees. I call every month to get this straightened up. The company changed their software system in April. When they did this, it put my account on hold. I now have payments on hold AND payments missing. I have all the documentation that supports my payments have been made. I have faxed the documents to the company. I think I'm going to have to get an Attorney. In the meantime they are reporting this as bad credit.

5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 5, 2013

Around March 1, 2013, I paid off my entire balance in full, and even received a refund of overpayment from them. My account was closed. On May 9, 2013, I ran my credit score on myFico.com and had a score of 785. Shortly after, I got preapproved for a new house and was required to put down a $6,000 non-refundable deposit.

On June 11, 2013, I checked my credit score again on myFico.com and noticed my score had dropped 70 points to 715. I reviewed my TU credit report and found that HFC had reported me as being 120 days late. I was outraged! I called HFC and asked them why they were reporting me as being 120 days late. They told me I should not be reported as being late, as I had NEVER been late AND I have had a 0 balance for 2 months. They said they would get the problem corrected. Immediately after speaking with HFC, I called TransUnion and filed a dispute.

On June 18, 2013, I called TU to check on the status of the dispute. They told me that HFC had agreed the 120-day late was erroneous and it had been removed. Later on June 18, 2013, I checked my credit score again on myFico.com and was extremely pissed off that my score did not return to 785. I called myFico and asked them why my score did not return to 784, as it only went to 736. They told me it was because a 30-day late payment from 2 years ago on a different account was now hurting my score, but on May 9, 2013 that same late payment wasn't hurting my score. So, just because invalid and inaccurate information had been added to my report and subsequently removed, I have a net loss of 49 points on my credit score.

When I close on my house on Sept. 3rd, the bank needs to run my credit once more since it will have been more than 90 days since preapproval. When they run my credit, my score will be lower which will cause me to pay a higher APR and higher PMI, which will cost me at least $100/month. For someone else's mistake, I will be paying $36,000+ extra for my house.

Oh and there's not a single freaking thing that I can do about it either. As a consumer, I do not have a "private right to act" (aka sue) for those damages. That's right. there's a law that the federal government has put into place that eliminates consumers' rights to sue companies for damages related to violations of the fair credit reporting act. So, I will be out thousands of dollars and the company (HFC) can just continue on making gobs of money and making extremely costly mistakes and screwing their customers and there's not a single thing that I can do about it. Nice.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 11, 2013

We just received our pay off letter from HFC. The letter states our payoff is just under $12,000.00; our account online states we owe just under $10,000.00 and as far as we can figure, it is around $6,500.00. If this does not say get a lawyer now! We are waiting for all of our paper work from HFC even though we do have our paperwork. We want a complete breakdown from day 1 of this loan. We will then turn it over to a financial lawyer to do a complete audit. Even though we want to pay this loan off, I will continue to make payments up to $6500 and if need be will take them to court! Please, please everyone do not ever deal with this company. And just remember they were taken over by HSBC!

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 8, 2013

It is us again, Mike and Karen. I started to research this company since all we have been reading. This is the latest. We can see online that they are saying we owe close to $10,000 for a loan that should have been paid off this month. I have sent a certified letter to get all our information, when the loan was approved, how much we borrowed, what our interest rate was and when they say it would be paid off. In the meantime, I have gone through all our paperwork, and yes we are behind but what they are showing we owe and what we are saying we owe is close to a difference of $3,000. Right now, we are $4,600 behind and are planning on paying it off in full. The problem is what is the balance?

So I called them today and have been keeping them updated on a daily basis but today I spoke with someone whom I have never dealt with before and he said if we would commit today to paying what we owe them to catch up on the phone, that would be fine. He even said he would postdate it for a week and if the money doesn't get to our bank, I could call and he wouldn't put it through, yeah right! The person I normally have dealt with said we cannot make any payments on the phone. It has to be certified check sent NDA. The person I spoke with the information we are requesting could take weeks or even months to get. Really, are you kidding me?

Our decision is that we will pay what we owe to keep us current and what for the info. Then, if we have to get a lawyer with the amount over and above they say we owe, we will. We will hire a lawyer to audit our account. How can they get away with this? Why hasn't the BBB stepped in or another government agency? Do they not know that HFC was taken over by the HSBC group? Doesn't anyone remember the Wall Street mess? We are only one customer but we will not be taken advantage of by big business!

12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 4, 2013

We finally got our letter of denial for loan modification. So I told them we are going to pay it off. Yes, we are over 3 months behind but we have been sending something every month, not the full amount but something and they have been accepting it. We now have to jump through hoops to get what our balance is. They will not give it to us over the phone, even though we can see online what out are payoff is. We have to fax them a request, wait for a response, get a certified check and send it overnight. We have been getting loans from this company on and off for over 30 years and this is how we are getting treated. I would tell everyone to stay away from this company. It's like dealing with loan sharks!

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 23, 2013

We take responsibility for getting behind in our payment. We are trying to get a loan modification. We applied over 6 weeks and were told it would take 30 to 60 days. In the meantime, we have been giving what we can and they have accepted it. We just received a letter stating we are in pre-foreclosure (we have no idea what that means). I have tried for 4 straight days to contact the person who was stated in the letter to be our representative. I have called and left messages 4 days in a row with no luck. Since we don't owe a great deal, I left a message with the possibility we might pay it off. Still there was no response. And since we don't owe a great deal, my concern is they have started foreclosure.

We have lived in this house over 30 yrs and I think they think with the amount we owe, they are going to get a deal. Little do they know with what we know and the repairs that need to be done, it will be not worth it; they will never get a decent price. A new roof, $8000, the upstairs had to be gutted because of the leak in the roof. Now there is mold - at least $15000 on those repairs. If we get to keep house, we can do the work ourselves for a lot cheaper. If they look in our neighborhood, just on my street alone 6 houses stand empty due to foreclosures. The neighborhood is in a very nice area but houses are not selling!

4 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 12, 2013

We refinanced with HFC about 10-12 years ago. Biggest mistake of our lives! We have been allowed hardships three times, refused loan modifications to lower our interest rates, lied to, as we were paying a 8.675% interest before we went to them and we were told we'd be paying a 7.25% with the new loan for the house and credit cards and allotted a second loan which was not to be a second mortgage. Come to find out it was/is and our interest rate is 10.96%. Wow! We have been paying for a long time and our amount owed is more than we originally financed still! We knew they are a shafty company and there's no way out of this except to sell the house and still owe money, let them have it back and be screwed on our credit as a bad borrower or just keep paying and get nowhere ever!

We've received letters stating settlements we will be getting due to HFC's bad business ethics and have even received one years ago which also said if we ever ended up in foreclosure, we could sue HFC, like we have any money since we have such high mortgage payments of $1,176 a month for a little $105,000 home loan. After more than 10 years, you would think we wouldn't owe more than that, but we still do. I have called to see what was up as we missed payments last Oct-Jan and it's funny they said no payment was due until March 2013 and that we were not behind. I made that payment online then made my next payment today and they show we don't owe one until August 2013. Now, what the heck are they doing to the people that have trusted them? Oh, they are automatically putting payments on the deferred interest and making you think that you don't owe a payment then they are tacking on all sorts of fees and money just because they can.

If we had money, we would have a lawyer and would get the heck out from under this mistake; otherwise, it's looking like we can only forget paying them and start stashing the money so we can afford a rental place big enough for a family of six. We tried HUD. We have tried several other places that cannot help us because we either make too much money or because we have another piece of empty property we also cannot get rid of, have too expensive cars, etc. We have junkers that I repair myself. Really, this HFC has ruined so many lives and I say we all stop paying them the monthly payments and let them reap what they have sown! It will hurt us for a bit credit-wise but that's something we can fix later with time. They are ruining our credits just by staying with them.

We found out about the higher interest rate when we had a lawyer look at our papers so we could maybe act to maintain our home we love. It was a shock and we are still suffering the fun consequences of struggling and never getting anywhere on this loan. We faxed papers several times each time we asked for help on the day we were due for Sheriff's sale in Jan 2011. HFC didn't want to help us until we brought in a third party company and then they started calling. I just kept telling them go talk to our lawyer and gave them the numbers. We are still in the home and still paying knowing we will never be in good shape as long as we are under HFC. If you get a credit card offer from them or loan offers, burn them and run as fast as you can away! Get your address off their subscriber's list as they are bad news!

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 12, 2013

I borrowed $7500.00 from HFC in 2008. By April of 2009, I settled on the account, because even though I paid them almost $9000.00 within a year because of the high interest and fees, the account was "settled and paid for less than full amount," which is ok. However, they out of the blue reported "derogatory payment" in January of this year, which caused my credit score to drop at least 50 points. Now, I will not be approved for a house loan that I already gave a deposit. I have called them so many times so that someone can correct the information, and they refuse to do anything. They tell me to take it up with the credit bureaus directly. Please do yourself a favor and stay away from this corrupt company.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 7, 2013

HFC might just be the worst financial institution I have ever conducted business with. Run, don't walk away from any kind of business with this company. They provide horrible customer service. They don't return your calls, and they are pretty much robbing me blind on my mortgage. I have been trying to work it out with them, but they won't modify my mortgage because I cannot prove payments from unemployment that I never said I receive; and that I have shown them proof of not being able to receive due to a severance payment. I really think that there is not a business that I have ever been associated with that is this incompetent and devious. Do not do business with HFC.

5 people found this review helpful
Rated with 1 star
Original review: Feb. 25, 2013

My husband and I received a phone call from an agent of HFC a few years ago. We thought okay, we can refinance our mortgage and use some of the money to do some repairs around the house and also help our son purchase a vehicle which, of course, he would have to pay back. Anyhow, my husband became disabled, so now his money was on a fixed income and we, by now, had gotten back on our payments. I called to see what HFC could do for me. I was told I could file for a loan modification, so I did.

It was pretty good. My interest rate went down for 6 months to 4.5%. It helped me make my mortgage payments and we got caught up. At the end of the 6 months, the interest rate went back up to 10.5%. Again, I called to see if I could get another loan modification. No problem. I got a 12-month modification loan. This time though, the interest rate ended up being 6%. Oh well, it was better than 10.5%. I continued to make my payments on time. After those 12 months ran out, we were back to square one again with a mortgage payment of $1500. There was no way I could pay this. Also, this did not include my taxes.

When we took out the original loan, we were told that we would be responsible to pay our taxes separately to our township. So, it was to agree to that or no loan. So like dummies, we agreed. We seemed okay and paid our taxes. Anyhow, now that the 12 months had run out, I again called HFC to see if they could continue to help us out. No problem. Well it was a huge problem for us. I received paperwork in the mail 3 months later where my monthly payments would be $1664.00 a month and this time they escrowed our account. Our taxes were now included (I was also told not to make any mortgage payments during the approval time).

They told me that if I did not agree to this, I would have to pay the mortgage payments (that went back 3 months that they originally told me not to pay while waiting for approval); it would need to be paid within a month. Fat chance on that happening. So, I signed the papers with stupidity. I should never have done it. I can't keep up with this payment. I am now 85 days behind on my mortgage. I pay every month but by the skin of my teeth. I even went so far as sending a letter to President Obama about this company.

Yesterday, in the mail, I received a letter back from the White House telling me that they have forwarded my letter to the appropriate agency for further review. I hope it gets into the right hands and we can get some help here. Also, to add, HFC continuously told me to go to HUD - I did that also. HUD told me to sell my car and get a cheaper one. You can't do that when you owe more on the car then what it is worth. HUD also told me to sell my home. I tried that too. It sat on the market for years. It didn't matter what we tried to do; we just can't seem to get out from under all this debt.

8 people found this review helpful
Rated with 3 stars
Original review: Feb. 19, 2013

Almost 14 years ago we had to file chapter 7 because my husband got hurt at work. We thought pay from the disability insurance would help. They told us we did not have that kind of insurance. Well I knew we had it, but at the time, we could not find my paperwork. Last year, I was going through papers and found my paperwork. So I called the number on the paper and they filed the forms for me. I had to send them letters, doctor's report and copies of my husband's SSI paper. 3 or 4 months later, they sent me a paper out that said that they had settled out with us and paid themselves. I called them and they said that we hold that to them.

My understanding is if they would have helped us before we filed chapter 7, we could have saved our home. I just need someone to listen to me and help me get back what is mine and my husband's. Everybody keeps saying it takes a lot of money to fight these people. I paid $500.00 to Loveland Law Office, but she said I needed bigger lawyers to help with this. So if someone would please help me. Thank you.

6 people found this review helpful
Rated with 1 star
Original review: Feb. 15, 2013

My parents are behind in their mortgage but located an agency willing to provide monetary assistance. The information was faxed to HFC on two separate occasions explaining the urgency to complete the necessary paperwork. HFC took their time and never forwarded the necessary paperwork to receive payment for outstanding mortgage payment. This company are truly con artists who prey on the weak and the most vulnerable. They do not appear competent to negotiate during economic hardships and appear to benefit when families are faced with foreclosures or short sales. HFC would not take into consideration my parent's lack of income due to unforeseen circumstances which I thought was unlawful. My parent currently pays a high interest rate for the mortgage and HFC is not willing to lower the rate but risk my parent of losing her home. HFC is underhanded, sneaky and does not have the best interests of their clients in mind. They're only concerned with their own welfare.

3 people found this review helpful
Rated with 1 star
Original review: Jan. 25, 2013

My husband and I took out a loan with HFC over 20 years ago. We have always paid on time with this loan. We borrowed from them because we had a lot of credit card debt and we had two daughters who were entering colleges back in 1988. My husband was injured on his job and became disabled so the insurance with HFC paid the bill for several years. We then received a letter saying that the insurance had maxed out, so we began paying the bill. This has been going on for approximately 25 years. We had borrowed $20,000 to my knowledge (can't find the original loan papers) and we still owe a balance of $10,000. When I call them about lowering the APR, they never return any of my calls or answer any of my letters. This company has really been a terrible nightmare for us. My husband and I are both getting up in age and would like to get this bill paid off. The more I pay them, the balance never goes down. As of today, we are still paying them $125 per month and still owe a balance of $10,084.

5 people found this review helpful
Rated with 1 star
Original review: Jan. 3, 2013

I called HFC in India I believe because a payment was set up in error and it needed to be stopped. The very rude customer service agent just said nothing can be done and hung up, would not even listen. Do not do business with this company; they are complete garbage.

2 people found this review helpful
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Household Finance Company Information

Company Name:
Household Finance
Website:
www.us.hsbc.com