Dealing with HFC

[concorrie]

I am dealing with HFC. They also tell me they do not do modifications. I just sent in the requested information to them to see if I could get on a hardship program. This would be my 2nd time if I am accepted. They have a limited time that you can be on the program. I asked what that "limited" time was (to compare it with my last program which lasted 6 months), and the representative said it depended on the situation.. so it is a case by case decision... ! At this point, I am just buying time. I have tried to get away from HFC but in just 2 years by credit has gone from great... to BAD! No one will refinance me, I am falling further behind, not only in mortgage payments, but everything else too. Another thing HFC does, is if you ask to be on a hardship program, they will allow you to skip a payment to get you back on your feet. They only allow this ONE time per year though. They may not suggest it, so if anyone has HFC and wants to try to get on this program, you need to ask if you can do the "skip payment" also. I would like to post my story with you on this forum. I apologize, but I will have to at a later date this week. I hope at least this little tip helps.

[Moe Bedard]

Hi concorrie,

Welcome to the forum and thank you for joining..............

HFC is an at risk lender........they are at the bottom of the Sub Prime ladder.......most borrowers that have great credit don't end up going to HFC for a loan..........
How did you end up with a loan from HFC? Did you go through a broker that had predatory practices?
What is your interest rate at?

If so.......having your documents reviewed for RESPA and TILA violations might be just what you need to get the modification.......

[ForeclosureCoach]

Stay encourage things will work out . You may want to consider getting a loan doc audit this will allow you to have negotiating power when dealing with your lender. Please contact my office if you would like to discuss further.

[concorrie]

I was starting to fall behind on my credit card payments.. and two of the accounts, that held the largest balances just happened to be affiliated with Household..or HFC. It was someone from there that scammed me. They are smooth talkers and I believed everything they were telling me. At that time, I just thought I could trust the loan officer. It is not something people do often, so I also blame it on my lack of research too. Knowing that I was hurting for money, the loan officer rushed me through the process telling me everything I wanted to hear. Of course when it was time to go through the documents and sign, there were several areas that were totally different than my quote. I had no choice at that time but to sign, as I was counting on the extra money to pay of several credit cards, which were now behind. Although I was told I could get checks to pay off all of my credit cards (5), I only received checks for 2 of them... guess which ones?? Yeah, HFC only provided checks to pay their balances off. I never had enough excess money from the refi to pay the others! Totally lied to me but since I signed, I can't do anything about it, so I am told. My interest rate is 8.5 right now.

[Moe Bedard]

Wow...........I am so sorry to hear that.......yes they are the worst.....

The doc review for the violations might turn some thing up for you.......take a look at the tab in the Homeowner Tool Box to the left of the forum to see what they offer......