Complaint Review: Homecomings Financial

I am traumatized. I worked hard to fulfill my dreams of becoming a home owner. In 2005 my dream came true. I purchased my home. Within 6 months of being in my home, my loan was sold to Homecomings Financial. This is where my dreams turn into nightmares. I ran into a few financial problems, due to the fact that I am a single mother working 55 sometimes 65 hours a week to support my 2 children and pay other household bills. I communicated this to Homecomings on several occassions, in hopes that they would understand that everyone fall short at times. What a mistake that was!!! This was their opportunity to "pour salt in an open wound."

When I purchased my home, my payments were $798.15. Within 2 years my payments jumped to a whooping $1087.00 without any notice. I was sending in my payments faithfully only to get letters stating that I was behind every month. How could this be????? On 6/7/07 I once again tried to call Homecomings to workout some type of agreement and I was told by a foreign woman that I would need to pay the original payments($1087) plus another $500 which adds up to about $1500 a month in order to avoid foreclosure. My response was " If I am struggling to pay $1087 a month, what make you think I could afford $1500 a month?" Her response was, "well we could foreclose any day."

This company needs to be stopped, because it is costing many hard working familes there credit, dignity,and selfworth. Making it impossible to refinance with other creditable companies. This makes it hard for a single mother to provide for her children financially, physically, and mentally!!!! HELP!!!!!!!!!!

Margaret
Fairview Heights, Illinois
U.S.A.