HOMECOMINGS FINANCIAL ripoff NETWORK MYSTERY fees, LOST payments, IGNORED calls/faxes, REFUSING to send pay-offs, PREVENTING homeowner from re-financing, FRAUDULENT legal filings/lawyers fees, UNLAWFULLY declaring foreclosure. Dallas Texas
NOVEMBER 05, 2002
TO ALL WHO ARE INTERESTED:
The following is just the most recent incident I have had with Homecomings Financial in the past three years:
I recently refinanced my 1st mortgage (or so I thought) and couldn't wait to RUN as fast as I could from HC (Homecomings). Four days after my new mortgage company QLF (Quick Loan Funding) wired the pay-off funds to HC, the money was sent back due to the fact that the pay-off amount was not enough to cover the loan. When asked what the problem was, they stated that since our homeowner's insurance with EFS (Empire Fire and State) had been cancelled back on July 07, 2005, they were required to place their own "in-house" insurance on our property, which added another $2,048 onto our pay-off amount. It was more than a coincidence that the effective date of this imposed insurance policy was the same day that HC received the pay-off money from QLF. By the time we were notified of the problem, we had already received and disbursed all monies that QLF had sent to us as our portion of the re-finance.
Since we were never notified of this cancellation, we immediately called EFS. When we asked why our policy had been cancelled, EFS stated that in April 2005, they were informed by HC that our property had been sold and that we no longer lived there. Consequently, EFS mailed several cancellation notifications to our last known address (provided by HC), which were returned to them labeled not at this address. Thus, they cancelled our policy. When we explained that we had not moved, nor had we received notice of the cancellation, EFS agreed to re-instate our policy retroactive to the point at which it had been cancelled.
When informed of the re-instatement, HC stated that as soon as they received a copy of the re-instated policy, they would cancel their policy and the pay-off amount would go back to the amount originally stated. At our request, EFS faxed the proof of insurance to HC immediately.
On October 14, 2005 while we were waiting for HC to give the okay for QLF to re-wire the pay-off money, we received several certified letters informing us that our home was being foreclosed upon by HC. Our property was scheduled for Public Auction on
November 03, 2005 (in 19 days!)
On September 22, 2005 the following incidents occurred involving HC:
1)QLF received verification that HC had received the pay-off money.
2)Once QLF received this verification from HC, we were told that our portion of the funds would be sent to us by over-night FedEx.
3)After allowing us to go four months without coverage, HC suddenly decides to place their own ridiculously expensive Homeowner's Insurance policy on our property.
4)HC places our property in foreclosure.
On October 28, 2005 HC finally sent a revised pay-off statement to QLF. An additional $2,800 (lawyer fees for foreclosure) and five weeks interest had been added to the original pay-off amount, the balance of which would be expected to pay out of our EMPTY pockets.
After making numerous fruitless phone calls and feeling completely defeated, we told our Personal Injury Lawyer about our struggles with HC. Despite the fact that our Lawyer was not an expert in this type of legal matter, he insisted upon contacting HC on our behalf. By the following day, HC had agreed to postpone the Public Auction for three weeks, pending further investigation regarding our account. They even agreed that they might have made some mistakes related to the handling of our account.
Our Lawyer believes that our case against HOMECOMINGS FINANCIAL is a solid one, especially due to the fact that we have kept meticulous RECORDS.
We have been given a three-week reprieve, but are these extra three weeks just giving HOMECOMINGS three more weeks of interest before they FORECLOSE on our property?????
We want to join forces with ALL WHO WISH TO BRING HOMECOMINGS FINANCIAL to JUSTICE!!!!!
Cynthia
HENDERSON, Nevada
U.S.A.
Click here to read other Rip Off Reports on Homecomings Financial
1 Updates & Rebuttals
Cynthia
HENDERSON,Nevada,
U.S.A.
More LIES, more financial heartache- foreclosure postponed for 3 wks to "conduct full investigation of our account".
#2Author of original report
Sun, November 27, 2005
With only three days remaining before our home was to be sold at Public Auction, we found ourselves asking our Personal Injury Lawyer if there might be anything he could do to help us. After hearing our entire story with regard to Homecomings Financial, he stated, "I can't say that I have ever heard of a case such as yours. It appears to me that you have been the victims of what we call 'Predatory Lending/ Loan Servicing' and you may well have an excellent case as such. But, since this is not my area of expertise I would not be able to represent you in this matter. But, I would be more than willing to have one of my paralegal staff members make a few phone calls on your behalf. Many times, the mere mention of "lawyer" will make a company
have second thoughts about cheating you".
As a result of these phone calls, "Homecomings Financial" agreed to postpone the foreclosure sale for another three weeks, so that they could "investigate" our account. Much to our amazement, even the person handling our account stated to us that he had some questions regarding the handling of our account prior to him. All of a sudden, even our new loan company was falling over themselves to help us. We were finally able to speak with the supervisor of their escrow company, who was speechless when told about our situation. She wanted to know why her personnel had not informed her of the problem. She gave us her direct number and assured us that she would get to the bottom of this. We were all wondering why the new loan company had not felt some obligation towards us; after all, they funded a loan without a clear title. They had already sold the loan to another company, to whom we were about to make our second mortgage payment. It appeared that both companies were at fault.
Despite this three-week reprieve and the promise of an investigation, we knew in our guts that this was just one more stall technique. Sure enough, two weeks went by without a return phone call from Homecomings. Homecomings even ignored the escrow supervisor's phone calls.
As usual, Homecomings waited until three days prior to the sale before responding to our numerous calls. Ironically, the person who was supposedly conducting our "investigation" was the one who reluctantly called us. He coldly informed us that his supervisor was unwilling to wave any of the fees and that the foreclosure sale will proceed. Just as we suspected, the 3 weeks were for the purpose of making them seem noble while tacking 3 more weeks of interest on to the pay-off of our loan. He refused to give us any more information, except that our home would be sold if we were unable to pay the difference out of our own pockets.
We only had one option left, sale our car ASAP for the $6,000 difference. We may not have transportation, but we'll have a roof over our heads! Just as we were going to sell the car, the supervisor from our new loan company called and offered to re-write our loan papers- adding to the loan another $10,000 to cover the difference!!! Halleluiah!
We will be signing new papers this week and hopefully the people at Homecomings have exhausted their list of tricks. We are still seeking a lawyer to take our case. We may have escaped the grip of Homecomings Financial, but they need to pay for their unscrupulous actions and blatant disregard for fairness. They owe us more than money!!!