My Nonprofit Reviews

My wife and I moved into my father-in-law's apartment in 2018, and due to the high interest rate of over 6.5% that we were paying towards this mortgage with BlueHub, we wanted to refinance. Refinancing would have also allowed us to add our name's to the deed. We found out through this process that we would have to pay off a second mortgage in order to refinance - a "shared appreciation" - in which we would have to pay an additional $30k on top of the principal mortgage. This $30k amounts to 47% of our equity, which means that the $55k we currently still owe from our principal, would have this $30k added to it, totaling over $85k that we would have to pay off with a new refinanced mortgage. This share of equity is one of the central ways in which BlueHub has taken advantage of homeowners in danger of foreclosure. Like so many other homeowners who are apart of the current class action lawsuit against BlueHub, pretty much all of us were never informed of the SA mortgage that we were signing onto. And just like many homeowners, my wife and I have decided to not refinance since we can't afford to pay many thousands of dollars in shared equity. The mortgage documents my father-in-law signed, do not explain in any clear detail what this SA mortgage is exactly, which is similar to the experience of many other homeowners, who were all deliberately kept in the dark about this second mortgage when initially signing on. Many homeowners were even pressured into signing while meeting with BlueHub. BlueHub has manipulated it's homeowners and taken advantage of them while in the precarious situation of facing foreclosure. Beware of what you are facing with BlueHub, they will steal your financial future.