Complaint / review / scam report
Beneficial Finance
Never receiving loan pay off amount and now not receiving lien release

Complaint / review text:
I am refinancing my mortgage and it was required that I pay off my 2nd mortgage with Beneficial. I requested this in writing and was told it would take 5-10 days.

I called and they said it had been mailed. After a few days, and still not receiving it, I called again and asked to speak to a supervisor. They then said they would fax it. That was never done, and there were no numbers from them on my caller ID, so it was obviously not even attempted.

I called to let her know it had not been received, then she said they would send it that day overnight delivery. It was STILL not received. I threatened to call the Better Business Bureau if the payoff was not given to me either on the phone or e-mailed that day. They gave me the payoff (a month had passed at this time) I paid it off, and my bank said they needed the Loan Satisfaction letter.

I was told it would take 5-7 days. Long story short, I am now told it will take 30 days, some say from payoff date, one today told me from the time the check was cut. Bottom line is that EVERY person I talk to gives me a different story, and worse of all, nothing is done.

My bank is upset because they can not complete my loan, I had to make another loan payment at a higher rate, and I still cannot get a straight answer! I have never dealt with such an unprofessional company!

Contact information:
Author: Contact with Author

Offender: Beneficial Finance

   State: Iowa   City: Des Moines
Phone: 8700100453

Category: Business & Finance


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