Went to the bank last week to inquire about a home equity loan.

Lower Township - Went to the bank last week to inquire about a home equity loan. I was told the rate was 4.25 percent, but if I allowed them to deduct the payment from my bank account, the rate would be 3.75 percent. Sounded good to me. I went home, filled out the application, tax returns, declaration of insurance, etc. I turned it all in to the bank the next day. It's a week later and I just got a call from the main branch that I must have misunderstood. The rates are 4.75% or 4.25%. I have been with this bank for 40 years. I have all my notes from our conversation! Misunderstood? Bait and switch! Beware.