Complaint Review: The Money Store aka Homeq Servicing Coporation

Our mortgage was sold to The Money Store aka Homeq and much to our dimay that is when the troubles began. We to were having some financial problems and when we asked for help we were told "NO" We finally moved from the home into a new home and sold the home that was being financed with TMS aka Homeq on contract. It is very true about the phone calls on the 2nd if they did not have the money on the due date. So, much for grace periods! They would call us several times a day and leave rude messages they even called me at work, in which I got in trouble for because I am not supposed to have personal calls, threatening to forclose,I even had it put in writting that they were not to bother me at work.

Now, here is the kicker, after 3 1/2 years of living H.... we finally sold this house in April of 2001. We thought that our nightmares were over. Well, did we get a big surprise when we went to refinance our current home last November we were turned down because our credit ratio was way to high for our income.

We could not figure out why until we got a copy of our credit report and found that our pay off had not been reported to the reporting agency. I have been battling with this company ever since to get it corrected. When I called them I was told that it was not their problem and that I would have to take it up with the reporting agency.

So, I did and was told that TMS aka Homeq needed to make the correction. Well, I have called many times only to be given the run around. Well, here it is June of 2002 and quess what it is still listed as an outstanding balance of $42,000.00 and says that we have been thirty days late every month for the last year and we have not even owned the place. I have recently filed a complaint with the proper people and told Homeq that I expected for the problem to be solved very soon or I would take whatever action I needed to to preserve our credit record and secure our financial future.

I think that this company has a load of lazy employees who do not know how to do their jobs properly or else we would not be having to take time out of our schedule to correct their mistake. Please, those of you who are still financed with them be careful and beware!

Beth
Anderson, Indiana