Complaint Review: Homeq Servicing Corporation

I took out a second on my home over three years ago for $20,000.00 and as this months statement I owe $20,846.85. You see I am what HOMEQ calls INTEREST POOR, I paid up in advance three months so that I could pay off other nills thinking that I had three months ahead with HOMEQ and I would be setting good. WRONG! HOMEQ stated that I am ahead in my payments but behind in my interest.

Some type of contract that I was caught in and to this day still don't understand. I had to file bankrupcy and never did on my home after all I need a place to live and this was also a second so I would have had to sell my home so I continued to make my monthy payments of $$362.24. Year to date interest that I have paid as of this date September 22, 2002 also now at $2,541.98. Payments that I have made are $2,897.92.

I will let you figure up the math from here and see how HOMEQ as stolen from me for years now. I finally got fed up and went and cashed in some of my savings in order to get out from this stealing rip off busniss. In order to close this loan I had to come up with $21,545.93. I was told that a fax would come on Sept. 20th, 2002. No fax, so finally I contacted first Cindy then Connie and last Joy. First they said that they had no idea why I am accused of being late two payments when I mailed in three advance payments. I was told to mail in this months coupon with $21,545.93 and that after thirty days if I am due any refunds it would be sent out.

As I said I have never been late always paid in advance. At lease that is what I thought. Interest poor is the catcher and how this corporation rips you off. I as many of us never do read ten to twenty pages of disclosers as your told that it's all law stuff and your fixed at a payment of $362.24 for twenty years.

This was a nightmare and still is until they cash my check. Be alert as I will be by HOMEQ people stating one thing and doing something else. Your interest is compounded daily and your never going to be ahead unless you make two payments a month. I am lucky that I have friends and family that seen this loan and they were just as shocked as I was.

I assure you I will bad mouth HOMEQ for the rest of my life and so will all those that tell there familys and friends. No matter how oiften they wish to change there name, they will be known as rip off liars. I live by the old saying what comes around and steals will also go back to you and hurt you a hundred times worst.

HOMEQ is like so many corporations today and stealing all they can. Federal and state attorneys should check out there practice of stealing from the public.

John
Marysville, California