The most trusted and popular consumer complaints website
Explore your opportunities! Create an account or Sign In

American General Finance Company / predatory lending practices

1 IN, United States Review updated:

My husband and I financed a home through American General Finance. As first time home buyers we were unaware of what we were getting into. We didn't receive any paperwork at closing. We were told it was an open end mortgage, had no idea that they charged us 15% interest, pre-payment penalty, a balloon payment and mandatory arbitration. They did loan flipping on an auto loan. Our mortgage is a revolving loan, and 2nd mortgage is a HELOC, with the same stipulations as 1st mortgage. They made advances without our permission. We are in a mess and their staff is beyond professional. We were behind a payment on our home loan, because my husband became very seriously ill. They called and demanded payment by the end of the day, and that if we couldn't do it, they would start foreclosure the next day. I am sick of them, and am trying to find help in taking some recourse against this scam type finance company.

Sort by: UpDate | Rating


  • Da
      11th of Feb, 2013
    0 Votes
    American General Finance Company - MORTGAGE LOAN
    United States

    American General Mortgage Company purchased my mortgage in 2001. They then split my mortgage of $ 275, 000.00 up into 2 separate loans. Stating that their computers couldn't handle a loan amount over $ 125, 000.00. My interest rate increased from 7.51% to over 13%. They never reported my mortgage accounts correct on my credit reports. They always reported me past due on accounts. They did this to keep me from being able to refinance my loan. Then once I missed a payment, on one of the accounts, they started foreclosure proceedings on me. Has anyone else had this problem with them????? I would like to file a class action lawsuit against this company. I finally had to due a Deed in Lieu because they threated to foreclose on me home. The property had a value of $ 450, 000.00 and I only had a loan balance of $ 270, 000.00

    Can anyone help???????????? Please contact me

Post your comment