My Nonprofit Reviews

I am living in a crowded house. I would not mind if it was my elderly relatives, or helping out a friend down on their luck, that would be a privilege. My infestation is from BlueHub Capital, who holds my mortgage. In 2012 I bought my house from them because they claimed the banks would not sell my home back to me because I was foreclosed on in 2010. They sold me a new mortgage on my own for $155K. I thought great, I could move back into my home raise my family and pick myself up again and move forward with my life. This was what I thought second chances and BlueHub stood for. In 2018 I qualified to refinance a new mortgage with an interest rate less than the 6.375% I was paying BlueHub. The refinancing company told me I had a second mortgage. When I contacted BlueHub I learned I had this second mortgage from a part of their company NSP Residential I never heard of. The second mortgage, called a Shared Appreciation Mortgage says I would have to pay BlueHub Capital 42% of any equity value in my home. I could not believe this, I was never aware I had to pay this, my paperwork said there was no prepayment penalty. After I had my appraisal done, in order to refinance I would pay off the balance of my first mortgage and then pay an additional $49,000 to BlueHub from this Shared Appreciation Mortgage. After 6 years of paying my mortgage lowering my balance, paying my taxes, water bills, all the upkeep on my home I had to pay BlueHub $49,000 to get a better mortgage! I thought I was the only investor in my home. No one else is around when I do all the work and pay all the bills to maintain my home and BlueHub wants additional money? They are unwanted guests and I am held hostage to this mortgage. What really bothers me is their attitude. In the beginning they said they would help me, I went through their screening process. When you begin to press them with questions … what is the purpose of the Shared Appreciation Mortgage, why do they not fully spell out the financial loss implications to homeowners, why are the Shared Appreciation Mortgage percentage so high, why do they think taking homeowners equity fair when BlueHub claims they do not want to be in the mortgage business. BlueHub response is cold and they talk down to me as if it is my fault, like I did something wrong. They actual wrong I did was believing they cared about giving decent people like me a second chance. This program is only for their benefit. Yes, my house if crowded with a pay or stay greed program from BlueHub Capital. I would never, ever, recommend BlueHub Capital to anyone actually looking to keep their home, raise their family and have their home be their sole investment. When you think you are a true homeowner again is when you find out that you are just a long term renter. Run the other way! Shame on you BlueHub Capital!