Complaint Review: HFC

Balance of loan $52,075.09. Payment $875.15. Interest and other charges $351.77 applied to balance $523.38. New balance $51,551.71.

Next statement: standard payment $275.15. Payment $900.00. Interest and other charges $513.19. Applied to balance $386.81. New balance $51,164.90.

Next statement: Standard payment $200.60. Payment $900.00. Interest and other charges $764.02. Applied to balance $135.98.New balance $51,028.92.

Next statement: standard payment $275.75. Payment $500.00. Interest and other charges $500.00. Applied to balance $0.00.
New balance $51,028.92.

Next statement: standard payment $275.75. Payment $275.75. Interest and other charges $275.75. Applied to balance $0.00. New balance $51,028.92.

Next statement: Standard payment $575.15. Payment $575.15. Interest and other charges $575.15. Applied to balance $0.00. New balance $51,028.92.

Next statement: standard payment $575.15. Payment $575.15. Interest and other charges $575.15. Applied to balance $0.00. New balance $51,028.92.

Next statement: standard payment $575.15. Payment $575.15. Interest and other charges $575.15. Applied to balance $0.00. New balance $51,028.92.

Last statement: standard payment $575.15. Payment $55,526.84. Interest and other charges $4,210.88. Applied to balance $51,045.96. New balance $17.04-.

Was paid off 5/6/03, after we secured another mortgage. we have yet to receive the check for $17.04 which HFC said they owed us. We asked what the other charges were and HFC would not tell us. We believe we have been ripped off for $5000.00. HFC did tell us about a prepayment penalty but they also told us at the closing that any over payment would be taken off the princpal, and it wasn't. So we were forced to seek an alternative mortgage company. Which we are very happy with now.

Thank You...

John
NEWPORT, New Hampshire
U.S.A.