Complaint Review: Homecomings Financial

Homecomings Financial Network Inc. provides residential mortgage loans and has offices throughout the United States, including San Diego, CA; Minneapolis, MN; and Dallas, TX.

Several legal professionals are investigating a potential class action lawsuit which alleges that Homecomings Financial Network Inc. has engaged in a scheme of unlawful and deceptive business practices in its servicing of residential mortgage loans throughout the United States. This includes deceptive practices when collecting monthly interest and principal payments, taxes, and insurance on mortgage loans. It is also alleged that Homecomings' mortgage representatives and consultants may have engaged in misleading and wrongful conduct with home buyers, specifically first-time home buyers or those with impaired credit.

Deceptive practices and wrongful conduct may include the following:

Imposing unwarranted and improper fees;
Intentionally or recklessly failing to process payments when received on time

Misapplying payments received to improperly benefit itself;

Prematurely referring accounts to Homecomings' collections and foreclosure departments regardless of legal and contractual grace periods;

Incorrectly referring accounts to Homecomings' collections and foreclosure departments after accounting errors occurred on the part of Homecomings;

Failing to provide customers with timely or clear information about the due date and amount of payments owed.

As a result of these practices, loan borrowers may have been wrongly classified as defaulting on their loan which may have caused consumers to fall behind in their monthly payments and subject to unwarranted fees and foreclosure actions.

If you have a mortgage loan that is serviced by Homecomings and if you have been subjected to any of the above or similar violations, please post your complaint here.

Homecomings Financial is owned by GMAC-RFC, an international financial services corporation which earns major profits each year, such as $2.9 billion in 2004.

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I have just initiated class action law suit against Homecomings. You are welcome to contact me by using the rebuttal box below to get the attorney's info for assistance in these claims.

Good luck to all of us

sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company your comments on this policy are welcome! CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

Deidra
blooming prairie, Minnesota
U.S.A.