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From: abeles@mhuxm.UUCP (J. Abeles (Bellcore, Murray Hill, NJ))
Newsgroups: net.consumers
Subject: Re: Beware of Manufacturers Hanover
Message-ID: <454@mhuxm.UUCP>
Date: Wed, 16-Oct-85 19:37:45 EDT
Article-I.D.: mhuxm.454
Posted: Wed Oct 16 19:37:45 1985
Date-Received: Fri, 18-Oct-85 00:48:19 EDT
References: <1346@ihlpg.UUCP> <3117@mhuxd.UUCP>
Organization: AT&T Bell Laboratories, Murray Hill
Lines: 22

> > So, my message to all of you looking for housing loans:
> > 
> >     STAY AWAY FROM
> > 	 
> > 	 MANUFACTURERS HANOVER !!!!!!!!!!
> 
> I couldn't agree more.  I have 2 mortgages on investment properties with
> Manufacturers Hanover (they were sold by the bank to this company), and I
> have had nothing but trouble--everything from the wrong payment going to

When I began working, and paying back a $1000 student loan to Manufacturers
Hanover Trust, I had a simple question about whether I could stretch out
the repayment schedule (as I had a number of other student loans).  For
months I wrote to them and asked this question.  Finally I decided not to
respond to their requests that I begin paying the loan off until I got
at the very least an answer to my question.  This experience was truly
agonizing--though I finally got to speak to someone who wanted the money
badly enough that they answered the question (in the negative).  I had
minor other problems with them later in the repayment (now complete) as
well.  It is my belief that they employ some very unintelligent people,
but I have heard that in general bankers as a group are not particularly
intelligent.