Mortgages, Home Improvement Top Consumer Gripes

August 1, 2012

When it comes to mortgages and home improvement, many consumers have some complaints, according to a new survey by the Consumer Federation of America, which reveals the top consumer complaints of last year. 

Among its list of 2011 top “worst” consumer gripes: mortgage-related problems, home improvement, timeshare sales and resales, Internet sales, and fraud. 

Many of the mortgage complaints stem from the foreclosure crisis and home owners who owe more on their loans than their homes are currently worth, according to the study. 

Home improvement and construction complaints remain a top complaint in the latest survey, mostly centered around “shoddy work” or “failure to start or complete the job,” according to the study. Consumers also complained about a surge in telemarketing and mail solicitations for home repairs “disguised as offers to perform free energy audits.” 

Landlord and tenant complaints mostly centered on “unhealthy or unsafe conditions, failure to make repairs or provide promised amenities, deposit and rent disputes, and illegal eviction tactics,” according to the report.

Other real estate-related complaints involved timeshare sales and resales, retirement communities and assisted living facilities, and real estate fraud. 

Source: Consumer Federation of America

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