Complaint Review: Homecomings Financial A Gmac Company - Dallas Texas

Again, how is the mortgage company responsible for the problems with the house? Did they sell you the house? If it was immediately upon possession, it is yours. How did the problems show up immediately upon possession and managed to stay in hiding right up until that moment???? The mortgage company is NOT responsible for the condition of the house. You signed the mortgage, you have to pay them as a condition of the mortgage. Nothing about that is extortion or fraud, and you should probably watch your accusations, they can sue you for saying things like this. It isn't a matter of me not having compassion. I do. I think it stinks. But it has nothing to do with the mortgage company. Frankly, your information is sketchy, you don't mention WHAT makes it uninhabitable, and you are blaming the finance company that has nothing to do with the house. Why on earth would a company that stands to lose money if they foreclose target individuals and try to ruin them? Let's see how this would go... Hey Jim, let's get Bob to sell this guy a house that will all of a sudden become uninhabitable RIGHT AFTER CLOSING, and we can do the financing. Jim says, "By gummy Al, I think you have a plan there. This sounds like a great business decision, let's do it. After all, we are in business to entice people to sell their secretly uninhabitable houses and we will finance them and then when we are done, we can foreclose because no way will they make payments on these uninhabitable houses, and then we can RUIN this guy that bought this house." "But wait Jim, there's more. When we foreclose, we are left like LAME DUCKS with this uninhabitable house that we sure can't sell for profit, if we could sell it at all, and then we get to eat the attorney fees and everything." I mean COME ON. This is exactly what you are saying happened, why WOULD ANY COMPANY THAT IS IN BUSINESS TO MAKE MONEY SET THEMSELVES UP TO TAKE A LOSS.

In response to the Mortgage Company Responsibility. Well Thank You Miss. I disagree. I need to correct you, it was IMMEDIATELY UPON POSSESSION the non habitability issue was discovered. I am sorry for you that you feel being sold a non habitable home is of "NO CONSEQUENCE" THAT IS SAD FOR YOU. I hope you never experience this but if you do PLEASE LET ME KNOW SO I CAN RESPOND WITH THE SAME COMPASSION!!!

You don't say how you purchased your home. Was it through a real estate agency? Was the house inspected prior to purchase by a real estate agent, the home owner or yourself? You also don't indicate why your home was found to be uninhabitable. Could it be an EPA related issue? Have you contacted your state Attorney General's office? If not, please do so. They may be able to point you in the right direction.

Your mortgage company is NOT responsible for the condition of your home. Since they were not a party to the real estate contract, they have no ability or means to "let you out of the contract". Your recourse is against the seller of the home, although in your state, buyer beware. If you went to closing and purchased the property, then you took the home exactly as it was at that time. The fact that you later found it to be uninhabitable is of no consequence. It is your house. You have to pay for it. There is no fraud involved here. You said you would pay this loan, you went to closing and signed off on it. Now they can require you to pay. Nothing at all fraudulent about this. In a similar situation, say you have a car. Just as an example, a 1999 Ford Expedition. Let's say you pay your payments and have your loan through First Capital Bank. Two weeks after you buy the truck, it breaks down. OH NO! Guess what, you still gotta pay your payments. By the same token, HOMECOMINGS IS NOT RESPONSIBLE for the condition of your home.