Complaint Review: Homecomings Financial Network - Dallas Texas

I refinanced a loan for my NJ home with a Company called Residential Money Centers and they in turn sold the loan to Homecomings Financial for the amount of $103,500. I was engaged to be married when I refinanced and the marriage eventualy fell through leaving me with an enormous debt load. I attempted to communicate with Homecomings but, it was at this time that they went for the jugular and attempted to foreclose.

In desperation, after many months of doubles shifts and barely living, I filed for bankruptcy protection in the year 2001. I began making payments under bankruptcy protection in December of 2001 after having my plan confirmed in late November. Less than six months later homecoming attempted to have the bankruptcy dismissed although the payments had been made to the trustee. They again attempted to do the same thing four months later, stating that they were not receiving payment although I have thorough and complete documentation.

Last year, recognizing the great economy shift, I placed my home on the market and went through all of the court proceedings to legally sell my home with the knowledge that my home would realize a great profit which would more than payoff my debt. To make matters even better, I had recently been engaged to the women who is now my wife and recognizing same, was engaged in selling her home. Her house also sold for a great profit, so we paid off the bankruptcy case in full and simultaneously received an offer on my home for $175,000. This is were it got ugly.

Homecomings could not be reached for any information and whenever we got anyone (usually after no less than a two hour wait on the phone) they would tell us that we could only talk to a specialist would was designated only for bankruptcy cases (She was never there). Throughout the whole time that we were attempting to finance our new home, for which we would have a substantial down payment with the profits from the sale of our two homes; Homecomings continually refused to provide us with records, and a payoff figure.

This continually sabotaged the closings for the selling and buying of a new home. When Homecomings finally provided us with a payoff figure for our loan, it was $114,500!!!! We continually attempted to request detailed inquires regarding the reason for the exorbitant figure. Even the bankruptcy payments with attorneys fees(had they not been paid off) wouldn't bring the figure up to this amount!! And we, of course, have not heard any response. In order to close the deal, we had to pay the exorbitant price. We have moved on and have since than applied to the bankruptcy court for an inquiry into our account since Homecomings, when talking to our closing attorney stated "we don't disclose detailed accounts of bankruptcy cases, we just give the payoff figures."

To date, Homecomings has postponed the inquiry four times stating that they were having trouble tracking down our records. We just closed on our house November of 2003!! Homecomings has even sent us a paid in full document, including the original mortgage note showing only $103,500 as the payoff amount!!!! If it weren't for the HUD-1 and mortgage documents regarding the new sale. we would have no indication that they overcharged us $11,000. I will not rest on this. My bankruptcy attorney informed us that they are due to show up in court again this week, at which time, I'm sure that they will postpone again. If there are any good real estate attorneys out there who would like a peice of this, we are consulting and interviewing.

Homecomings attempted to ruin me, steal my home and sabotage my chances of aquiring my new home. Because of their predatory and evasive tactics. We were forced to restructure our loan for our new home and are paying a much higher rate than $11,000 more would have provided. I won't stop till they pay!!

Gene

Newtown, Pennsylvania
U.S.A.

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