Centex - trouble with home equity loan

Complaints.com received the following consumer message on August 11, 2002:

From:

RE: Centex - trouble with home equity loan

Ok, Your the last place on planet earth I am going to e-mail before I pack up and move out of my house.

in 1998 my husband and mother moved in to a house. we sold one to get this one.

after a year or so we got a 2nd and were happy. well down the road we wanted to refinance again. rates were going down and we had a 2nd on the house for a roof job. we were not having trouble paying the loans just wanted to combine them and pay off a few thing if possible. then one day the phone rang and a man named Paul Larsen calls says he is from Centex Home Equity. my husband and him talked for a while and then my husband and I talked it over. I told hubby that one thing. the taxes and insurance has to be included in the payments.

when Mr. Larson called back I asked him out right if that was possible. he said no. I then told him then thank you we are not interested and don't bother to call us back again. But later he did and make promises up the ying-yang. so we thought ok if he is going to make it happen. this took like three months of talking back and forth.

m/l the appraiser came and went and we were then told that the house was worth $152.00 yippee we thought cause we have done a lot of work. still needed more things done. so when I asked at signing if the taxes are in here the lady said " IF Centex said they are then they are" ok what do I know I cant under stand the tons of paper and all that legal-ease.

oh we did not have a copy of the appraisal at that time yet. it took 6 more months of calling and asking for it before we got it. and we think its very poor quality. Mr. Larsen told my husband that at the time of the first payment call Centex home office and set up the tax payment. OK I thought how strange.

but. I am old and stupid. lot smarter now. ok the lady at Centex told my husband that Paul Larsen lied. ok we thought that's rotten but continued to pay our mortgage.

a few months ago hubby was in the bank and spoke to there finance officer. she said The rates are down come in let see if we can take over the house and lower your payments. ok we thought . so we set up a apprisal and the appraiser came he did not go threw with the appraisal as he knew the house. from when we bought. he kindly told us that there is no way the house will go for what you need to get it out of Centexs hands. he said maybe 120.000 maybe... what? I thought oh great.

then he asked who did the one before hubby told him and the guy told hubby that he was under investagation for what he did not go into.

we talked to a real estate lady. and she said no way will your house sell for 152.000 or even 140.000. we took out the old appraisal a read it in it we found that the appriaser listed the house with two full baths. no we dont. with a disposal system. I have two dogs. they do work like one.

also says we have a cememt driveway. gravel last time I looked. and a full wooden fence in back of house. wood post with barbed wire...

so you see he lied to bloat the apprisal. so we went to a Lawyer. and he told us to just stop paying and then when time comes move out. I hate to lose my home because of their greed. I think the appraiser and the company he worked for and Centex should foot the loss... I am 60 years old. and hubby is 64 and if we lose the house they will make us pay the differance and I dont think that is fair. I cant talk to them. they actuall told me that we were stupid for buying a house at my age.... what nerve.

We have turned them in to the state of Washington dept of real estate. and have a docket number.

also to the appraiser licences dept.

when Centex called they keep telling us they settled with the state. the state when we call them say no we have not.