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Review 9/25/2007
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While this company offered a quick and easy home loan response to a desperate homeowner, buyer beware! My home offered high equity, and apparently Value Home Loan takes every possible opportunity to foreclose or force a sell to "protect their investors," which to a borrower appears as an attempt to take advantage of a unwitting homeowner. While my loan was in good standing with Value Home Loan as the secondary lender, my 1st mortgage became 1 payment behind but was NOT in default and I graciously accepted a payment arrangement with the primary lender. Value immediately filed a default with intent to foreclose imposing $4,000+ in fees, without so much as a courtesy phone call or letter to me as a borrower in good standings. They obviously have my phone number and address as I receive marketing phone calls and letters weekly from Value Home Loan, offering other products and services. There is a hidden clause within the loan agreement that states the first mortgage must be current, but there's nothing that warns a borrower that a payment arrangement with the 1st lien holder (current and in good standings) is unacceptable to the secondary lender. A bit of consideration for the consumer would be greatly appreciated, or at least an opportunity to rectify the situation prior to filing a default and intent to foreclose is simple common courtesy that other lenders extend.
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