Complaint Review: Homeq Servicing

I bought my home in Jan 07 and my mortgage company was New Century Mortgage. Shortly after, my loan was sold to Homeq Servicing, and my payments started in April 2007. In the beginning of June 07, I received a letter from Homeq stating that my payments will go up because I do not have enough in escrow. So my payments went from $1435 to 1498.

I called them and did not receive a valid answer. I made June and July payment. I could not pay Aug. On September 5, 2007, Homeq contacted me regarding my account. I had fallen on financial hardship and was behind by one month. The male Rep asked for all my financail information and I gave him what he needed. He said that some will contact me from their Loss Mitigation Dept. on Friday, Sept. 7, 2007 and if I have not heard from them to contact them on Monday, Sept. 10th.

I had not heard from no one in the Loss Mitigation and that Monday, I contact them. But the collection was still calling me and I told them that I was waiting on a call from Loss Mitigation and the caller said Oh and saw on the computer that the Loss Mitigation was suppose to call. Not a hour past, and I received another call and I explained to them what was to take place, and they hung up.

When I did call them on Monday, the Rep. name was John and he told me that I had to download the for form for a short sale and fill it out and fax it to them. He said that I had to find a realtor and put it on the market. I gave John the name of my realtor (Mike) and John put me on hold and called Mike.

When he came click back over to me he said that I had to have a Third Party Authorization Form signed by Mike. Mike signed the form and fax it to them. On October 3, 2007, I contacted Homeq and talked with a Joanie, who transferred me to Dee. I asked Dee why had they not return Mike's telephone calls and she would not answer me. I told her that I had faxed in the form for the short sale and she said that documents where missing. I said what documents and she was rude and obnoxious saying it was not their job to call and say what documents are missing, but read pay two of the short sale and read the list.

I continued to asked why the have not contacted Mike and she still was being elusive and not answer my questions. She proceed to say that they needed a hardsip letter, and I said that I gave the information by telephone to the Rep on 9/4 and she said that does not count. They do not keep the information. She said that I would need signed bank statements, two paychecks, 401k, taxes returns for the last two years. I said why you need this? She said without this information your short sale is incomplete. I told her that some of this information was irrelevant. She said, we need this and I told her that I do not trust her and I was not happy with their process.

I went and look at the list that this company is requiring for a short sale and it is so ridicules. Homeq is not honest and they lie. At this time, they have not contact Mike and are giving me the run around. I know that they are not trying to help, but to ruin me and my credit. I am now looking to move because after reading some of testimonies about how they are. They will try anything and everything. Their time will come soon and they are digging a hole for themselves where they will not get out!

Rebecca B.
Minneapolis, Minnesota
U.S.A.