Complaint / review / scam report
Total Rip Off and Scam
I applied to BHM for a loan and wanted to use my mortgage free home as collateral. They came back with an offer of 2.8 - 3.8% per month (28 - 38% annually). They offered me a $15, 000 loan at a repayment of 585.66 per month over a 15 year period! She referred to it as an open mortgage term. That means I would pat them back 105, 418.80 over the term of the loan. I am shocked that they can even get away with this. We are in times of COVID people need some help but they are just gouging everyone they can. Do not take out a loan with this company. This has to be illegal!
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