Household Finance Company - In March 2003, my husband and I purchased our first home and were financed through Ameritrust Mortgage.

Household Finance Company - In March 2003, my husband and I purchased our first home and were financed through Ameritrust Mortgage.

Household Finance Company

To Whom it May Concern,

I am trying to warn everyone about Household Finance Company. They are rude and apparently have no concious.

In March 2003, my husband and I purchased our first home and were financed through Ameritrust Mortgage. Unfortunately for us they sold our loan to Household Finance. At the time of the purchase my husband was in the USMC and had steady income. In June he was forced into retirement due to service limitations. It was about 3 months befor he could find employment. During this time period, we used all of our savings and fell behind on our mortgage. We contacted Household and asked if the would deferr a payment or restructure our loan due to the hardship we were suffering. Unfortunately we did not qualify for assistance through their company.

When my husband did obtain employment, we were able to catch our payments up and we were on our way again or so we thought. The company my husband was working for was a small one and went out of business. Again we needed help to keep up with our mortgage. After contacting Household once again to seek assistance we were again told we did not qualify for any assistance through their company. We continued to send in what money we could, which they kept in an unapplied funds account until they had a full payment.

My husband finally obtained employment through a large reputible company and we knew we would be able to catch up in a few months. Things were looking up once again. Then things really turned sour. Our are was hit by Hurricane Ivan and declared a dissaster area by the President of the United States. Due to the power being out in our entire county (in some parts for more than 2 weeks) my husband lost alot of work. We knew that we would not be able to make Septembers payment and maybe Octobers payment. We discussed this situation withe FEMA. They told us that because we were in a dissaster area our finance company was required by law to work with us. Unfortunately for us Household Finance seems to be above the law. Again the refused to work with us or help us in any way.

On October 7th less than a month since we had suffered a national dissaster, we were served with a summons for foreclosure. We were contacted by Household's attorney and told they would reaffirm the debt but we would have to pay $3000.00 down and our payments which had been $614.00 would increase to $945.00 a month. When we told the attorney we would not be able to afford payments that high and had no idea where we would come up with a large sum of money upfront due to the unexpected expenses we sufferd from the storm, we were served with yet anothe set of papers from the court. We are to appear in court on November 30th (just 2 months and 2 weeks since the storm) to either set a sell date for our home or pay off our debt in full.

Please use discretion when you purchase your home and do not use Household. There are uncountable complaints on this company and billions of dollars in low suites against them as well for their preditory lending habbits.

Thank You,

Sandra Z

Sandra Z Click this link to e-mail the above consumer: Email User Consumer