Beneficial Mortgage Ratings |
The following mortgage company reviews are submitted by actual users and do not represent the opinions or experiences of mortgage-ratings.com. mortgage-ratings.com is in no way affiliated with the brands, advertisers, merchants, or products discussed by its users. Consumer mortgage reviews and mortgage company ratings are informative for those wishing to use them, but they do not guarantee any level of performance by a merchant or other third party in any given transaction. |
 Stay Away |
I am a loan officer and I have come across a lot of customers that have been misled by Beneficial. One case in particular really rubbed me the wrong way. These customers had just closed on a loan at 11.2% interest rate with beneficial and were *5 years old with 670 credit scores plenty of equity in their home. I got them approved FHA at a 5.75% fixed lowering the beneficial payment by 300 dollars a month. They told them their escrow were included in their payment which after reviewing their closing docs wasn't also they were telling them its fixed when in fact it was a 3 year arm with a 5 year prepayment penalty. I faxed in the cancellation form to the beneficial office and they had the nerve to call me and say their deal was better than mine because my closing costs were 2000 dollars higher which was due to their escrow account being paid so that they would be included in their payment, My customers are on a fixed income of 1900 a month beneficial s payment was 1050 a month mine 750 w/escrow! STAY AWAY FROM THIS COMPANY |
| Please Help Me |
I've been a faithful and consistent paying customer over 8 years with Beneficial. As of Nov. 16, 2007, I had a child. So I requested a hardship for the months of Nov-Jan (08). I am unemployed and just recently got on my feet recovering from the delivery, all of which I explained. As of Feb. 08, I called and requested an additional hardship due to unemployment. I was told to submit a letter of request. In the meanwhile, my account was inactive as well as suspended. As of March 15, 2008, my checking account was overdrawn the amount of the monthly payment. I was assured that because the account was considered delinquent and that the company does not debit by ACH, I would have to submit payment by mail. When I contacted the company, they told me it was an error that occurred and that's why they were able to reactivate my account without notifying me--and that my request for a six month hardship was denied. I was unaware of this fact. Now my creditability with my bank account institution is in question, as well as I have a host of fees that they said they could not credit back. They didn't give reason why my hardship request was denied, and I assured them that I didn't have the money for payment and asked if they would be willing to work with me, until August, giving me time to find a job and catch up on my payments. The answer was no. I feel as if I have been slapped in the face. They said they took it upon themselves to reactivate the account and make withdrawals from my account due to an error in the previous month on there part. My account is overdrawn, as well as fees have incurred tremendously. The stress from this company is causing a state of depression in my life and taking a toll on me, which is effecting the care I give to my children. Please help me. |
| They Won't Stop Calling! I'm Not Even a Customer! |
I do not have an account with Beneficial Finance. My 11-year-old son has a new cell phone for emergency purposes. They have called his phone number more than 70 times in the last month. I have called them 5 times, and they are unable to remove this phone number. They said that are unable to track the number to remove it from their system. Numerous telephone calls to the company without resolution. |
 They're Okay |
I think their service was okay. Unfortunately, I overstended myself and can't pay my bills. I'm going through difficult times, but it's not their fault. |
 Please be Careful |
I have a very bad tasted in my mouth after working with Beneficial. I feel that they are a predatory lender. Just be careful and choose your mortgage lender wisely. |
| They Changed their Tune |
I got a refinance loan with a high interest rate from them. They told me I could refinance a year later at a lower rate after proving to them that I could pay on a timely manner. I went back 18 months later to refinance and they sent me a letter saying that there wasn't anything they could do for me.
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| Started out Great |
They were great until we fell behind on our mortgage payments. I thought they would have been a bit more interested in working with us to get us squared away, but with the mortgage mess, I guess I was wrong. |
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