HSBC Watch News Release Forum Index
Forum Name: - Mortgages
Topic Title: About Introduction Scams at HFC and Beneficial
Sat Mar 19, 2005 12:11 pm
If you've been the victim of introductions scams at HFC or Beneficial please reply here. An introduction scam is one where the borrower, usually a sub-prime borrower is introduced to the lender by a third party, and the third party is paid for "getting the two parties together." Usually the borrower can go directly to the lender and there is no need for the third party. If you have been scammed by a "third party introduction" scam and the lender turned out to be Beneficial or Household Finance, please reply here. I have reports of this happening with The Associates (now part of CitiFinancial) and CitiFinancial.
The company claims this is not happening. This is like the "brother-in-law" effect when it does happen, and someone gets paid by you and under the table. Most reports come Southern states and rural areas. Let us know the name of the lender, either HFC or Beneficial, the city, address, and who you spoke to. How much was paid to the third party, their business name, and city would also be nice.
Sun Mar 20, 2005 12:11 am
Please tell us more about this third party scam. I know my husband and I were introduce to Beneficial with one of those "live checks" in the mail scam. You walk into one of Beneficial's branch offices to see if the check is real. This is when one the branch managers tell you how much money the company can save you if you refinance your mortgage with them. Which we know the truth! You end up paying twice as much! Once they reel you in, you have to do all your corresponding with Household International(HSBC).
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