Greg
Farmington,#2Consumer Comment
Tue, September 04, 2007
Again a Mortgage company will not tell you to ever not pay them money.. EVER... I worked out a short sale with them and for the 2 months my house was on the market they called every other day asking for money any amount I could send.. They will hold money if you cannot make up and shortage in one payment until its met. They DO NOT want to foreclose on you it cost to much money for them, $50,000 +++ not including mortgage payoff defiencies and yes they will sue you for that money. If you do a Deed in Lieu of foreclosure it saves them a Ton of money and they pay you to sign over the Deed to them. But make sure you get legal advice so the wording is correct so they cannot sue you for any deficiency they may have after selling your property. You will get a 1099 with a short sale or Deed in lieu so negotiate carefully because you will have to pay taxes on any reported deficiency. The last thing you want on your credit is a foreclosure its worse than bankruptcy thats why most people file after foreclosure. the housing Market is crashing and will drive the price of houses way down nation wide over the next few years and they won't recover for at least 6-10 years if not longer, it hapeens every 15-20 years exactly the same way. if you cannot save your house do everything in your power to sell it and position yourself to buy again in this down market in 2 years.. remember within 2 years after filing bankruptcy you can restore your credit to B+ or A- with a few credit cards wether there secured or not. Use them wisely but at least once a month and pay off the balance every month no matter how small the amount you get the same positive credit report for monthly $5.00 or $500 payment. Good luck..
Cecilia
Clarinda,#3Author of original report
Sat, August 25, 2007
I am the one who filed the original report and I now have an update. After bitting the bullet and giving this company everything they wanted no matter the cost, after struggling for over a year and a half I have finely paid them everything including all the money they wanted for insurance regardless of the fact that I have insurance with Farm Bureau, I finely was allowed to pay my normal payment. My September payment due on the first was made on the 17th of August. I haven't received any statements since they announced the electronic statements so I called them for the address of where to send payments which was in Phoenix, AZ. I sent my payment and it was cashed and sent through my bank account on the 22nd of August. Today, the 24th of August I received a letter from Homecomings. The first line goes like this here: A review of our records indicates we have no evidence of a current hazard insurance policy in effect for your property. As you know, under the terms of your mortgage, hazard insurance is a requirement. I have a heart arythmia and when I read this it went into overtime. I couldn't believe I was right back where this whole thing started. I called my insurance agent and they told me the home office always sends the required information to the mortgage holders. He said he would fax it to them at 866-528-5112, plus he would send a hard copy with his card (He thinks this might help LOL) to Homecomings Financial, LLC Its Successors and/or Assigns, PO Box 100585, Florence, SC 29501-0585. I have asked him to send it Certified mail so they would have to sign at the other end. So there you have it. I've been paying ahead, I've paid hundreds over what I should have been paying and still it goes on. I'm ready to admit defeat and give them the house they so desperately want. I have worked very hard at fixing my credit and it is finely looking good. keeping everything current so there would be no excuse but I guarantee that I can not possibly go through the hell I've been through this last 18 months or more. Homecomings will not let me live the good life. We need to figure out a way to keep our loans from being sold. This is the only way to stop this company. They need to be held responsible and if they had to go to customers to get the loans we could say "no, I've heard too many bad things about this company, I want to go with someone else". They will only pay any court cases they lose. They don't care, they have all the money they have stolen from us hardworking americans by either over charging or stealing our homes. I can't figure out how to get this accomplished. Please if any one out there has any ideas on how to get this practice of selling loans regulated so that we would have a say please let me know by way of rebuttal on this report. We need to figure out someway to stop this. From one Hostage to the rest of you: Good luck, it never ends no matter how hard you try.
Piper
Colonial Heights,,#4Consumer Comment
Thu, August 09, 2007
Homecomings have either lost or are withholding 2 of my monthly payments, and are trying to foreclose on my home. When I recieved the motion for relief, because I had to file bankruptcy, I called my lawyers, and I called Hometakers. When I called the mtg. co, I was sent to 5 (f-i-v-e) different departments, all of which NONE could tell me which payments they did not have, before ending up right back with the first department I reached at the begining of the call. However, when I contacted my bank to get copies of the cancelled CASHIERS CHECKS, they showed all but 2...one in december 06, and one in february 07. and I just got the motion for relief on August 1, 07...you tell me, WHY did they wait six months? Are they all on drugs????? or just preying on innocent victims. Here I am trying my damnedest to hold on to my home, and these bastards are doing their damnedest to take it...but they are wrong and need to be stopped.
Michele
Dunmore,#5Consumer Comment
Wed, July 25, 2007
I told was told by them not to send any money; they would not accept anything unless it was the full amount to the penny. I sent them what they asked for via Western Union; they sent it back and foreclosed because within 24 hours more charges were added that we were unaware of. We had to file an emergency Chapter 13 to keep the house. They are very clever at hiding behind there walls of "procedures"... my suggestion is to contact your Attorney General and State Legislatures. That is what we are going to do.
Virginia
Miami Springs,#6Consumer Suggestion
Mon, July 23, 2007
Hi Cecilia, I respectfully disagree with Greg. This is a very popular tactic that is used by mortgage companies and mortgage/loan servicers all the time. They tell a homeowner not to send payments to get them to fall further and further behind on their payments so that they can justify defaulting the homeowner on their loan. If you want to put an end to HC's illegal behavior and get back the money they have extorted and embezzled from you, meet us at Joe's platoridge com. farm. We are a group of homeowners who work together to save our homes and our sanity from thieves like Homecoming and its parent company Gmac. I hope to meet you soon at the farm.
Greg
Farmington,#7Consumer Comment
Mon, July 16, 2007
I've dealt with these people for a long time and they want all the money they can get whenever they can get it. I doubt very much they said don't send them any money. They also will not foreclose on you or even contact you until your 3-6 months behind. They are more than willing to do Short sales and Deed in leui's now that the sub-prime mortgage's are crashing because people cannot afford to pay there adjusted rate. It cost them at least 50,000-60,000 to foreclose on somebody and that doesn't include when the people file bankrupty.