Complaint Review: Homecomings Financial - Dallas Texas

I know Homecomings generally deals in sub-prime lending but my first question to all of you is do any of you have a HUD backed loan with Homecomings? Especially the first time buyer. Please read what I am about to type very carefully. IF you have a HUD backed loan you DO have help out there. You can contact HUD directly and ask them to take over your loan. They can step in for you (even in foreclosure) and take your loan over from Homecomings. It has been and is still done. You will have to fill out tons of paperwork for HUD explaining why you got behind, what your current financial situation is and so on. I know someone who did this and got his house payment taken over by HUD and dropped by $200.00 per month for a period of 2 years until he could get back on his feet. Due to what his mortgage company was doing to him (foreclosure) I could not help him refinance but with the help of HUD we were able to save his home and he is now 5 years later still living there and quite happy with a new loan. Now bear in mind you will have to eventually pay back your reduced payments however HUD will work with you on getting this done even if its $100.00 per month once you go back to your original payment amount. PLEASE pull out your loan paperwork and see if you have a HUD loan, it could save your house. The only other alternative I can offer to you is to possibly (LAST alternative) consider a Chapter 13 bankruptcy. You CAN keep your home if you are in a Chapter 13. Now before I get lit on fire and burned to a crisp for suggesting this let me please say I am not advocating bankruptcy to anyone. However IF you are looking at foreclosure, IF you have NO other way to save your house and IF you are willing to make a repayment plan thru the court and STICK to it, it might be the only alternative left for you. You can pay your monthly house payment, car payments and back house payments thru the court as well as paying off any other debt you may have. Like I said, I'm not an advocate of bankruptcy but if its your ONLY alternative then you may have to consider how much you want to keep the house.....

Do yourself all a favor and get legal council or hop on the class action lawsiut. We fell into hardship also and have been dealing with for-closure for 5 years now,everything they say is a lie ,they let us pay for 6 months , calling it an arrangement agreement ,never took our home out of forclosure,only to walk out of walmart one day and find our home up for auction sale just 15 days from the date i found it.This was while they were taking our payments for the supposed agreements,Then they gave us no notice . Had i not been in walmart that day ,and happen to glance at the board we would have been railroaded from our 25 year once paid for home.

Do yourself all a favor and get legal council or hop on the class action lawsiut. We fell into hardship also and have been dealing with for-closure for 5 years now,everything they say is a lie ,they let us pay for 6 months , calling it an arrangement agreement ,never took our home out of forclosure,only to walk out of walmart one day and find our home up for auction sale just 15 days from the date i found it.This was while they were taking our payments for the supposed agreements,Then they gave us no notice . Had i not been in walmart that day ,and happen to glance at the board we would have been railroaded from our 25 year once paid for home.

I lost my job in august. I called Homecoming's right away. In December I called to make payment arrangements, I got no where, like the others here, i had to dill out the fincial paper work MANY time, to several different people. I ended up going to court on this cuz, i cant get a phone call back, nothing, I dont know what I'm suppose to do now, just live here until the sherrif's come and move me out. My credit score is SO bad that I can't get anyone to help me with a loan. December we had the house for one year. please help with any idea's i just can't roll over and play dead... I'm sorry we all have to be going through this. I'm so not alone any more....

I am also in foreclosure with Homecomings Financial, and after two months have finally gotten somewhere with them on resolving the matter. However after reading page after page comment after comment I'm not sure exactly what to do next. I am a young first time buyer and unaware of many things in the mortage world. We were two months behind on our payments and soon to be a third month when called Homecomings to make a payment over the phone for the full amount that we were behind plus late fees, when I was told that we were in the first stage of foreclosure but not to worry that they would send us a financial packet and upon completion the matter would be solved just like that. I waited for almost a month and still no packet, so I called again, and again until a cs rep told me that this time he would FEDEX it to me. Another month goes by and nothing. I was finally able to get ahold of someone today and was told that I now can clear the matter up if I pay $5900 by the end of this month. I am sketchy of this because of our previous problems with this company and the problems that so many others have had. Meanwhile our payment is ballooning (which started last month) and our credit is dwindelling. I have so many questions and am not sure exactly who to go to for the answers. If anyone is willing to help advise me on what to do that would really help, I don't want to just hand over 5900 dollars if it might not help our forclosure anyway.

I am also in foreclosure with Homecomings Financial, and after two months have finally gotten somewhere with them on resolving the matter. However after reading page after page comment after comment I'm not sure exactly what to do next. I am a young first time buyer and unaware of many things in the mortage world. We were two months behind on our payments and soon to be a third month when called Homecomings to make a payment over the phone for the full amount that we were behind plus late fees, when I was told that we were in the first stage of foreclosure but not to worry that they would send us a financial packet and upon completion the matter would be solved just like that. I waited for almost a month and still no packet, so I called again, and again until a cs rep told me that this time he would FEDEX it to me. Another month goes by and nothing. I was finally able to get ahold of someone today and was told that I now can clear the matter up if I pay $5900 by the end of this month. I am sketchy of this because of our previous problems with this company and the problems that so many others have had. Meanwhile our payment is ballooning (which started last month) and our credit is dwindelling. I have so many questions and am not sure exactly who to go to for the answers. If anyone is willing to help advise me on what to do that would really help, I don't want to just hand over 5900 dollars if it might not help our forclosure anyway.

I am also in foreclosure with Homecomings Financial, and after two months have finally gotten somewhere with them on resolving the matter. However after reading page after page comment after comment I'm not sure exactly what to do next. I am a young first time buyer and unaware of many things in the mortage world. We were two months behind on our payments and soon to be a third month when called Homecomings to make a payment over the phone for the full amount that we were behind plus late fees, when I was told that we were in the first stage of foreclosure but not to worry that they would send us a financial packet and upon completion the matter would be solved just like that. I waited for almost a month and still no packet, so I called again, and again until a cs rep told me that this time he would FEDEX it to me. Another month goes by and nothing. I was finally able to get ahold of someone today and was told that I now can clear the matter up if I pay $5900 by the end of this month. I am sketchy of this because of our previous problems with this company and the problems that so many others have had. Meanwhile our payment is ballooning (which started last month) and our credit is dwindelling. I have so many questions and am not sure exactly who to go to for the answers. If anyone is willing to help advise me on what to do that would really help, I don't want to just hand over 5900 dollars if it might not help our forclosure anyway.

I am also in foreclosure with Homecomings Financial, and after two months have finally gotten somewhere with them on resolving the matter. However after reading page after page comment after comment I'm not sure exactly what to do next. I am a young first time buyer and unaware of many things in the mortage world. We were two months behind on our payments and soon to be a third month when called Homecomings to make a payment over the phone for the full amount that we were behind plus late fees, when I was told that we were in the first stage of foreclosure but not to worry that they would send us a financial packet and upon completion the matter would be solved just like that. I waited for almost a month and still no packet, so I called again, and again until a cs rep told me that this time he would FEDEX it to me. Another month goes by and nothing. I was finally able to get ahold of someone today and was told that I now can clear the matter up if I pay $5900 by the end of this month. I am sketchy of this because of our previous problems with this company and the problems that so many others have had. Meanwhile our payment is ballooning (which started last month) and our credit is dwindelling. I have so many questions and am not sure exactly who to go to for the answers. If anyone is willing to help advise me on what to do that would really help, I don't want to just hand over 5900 dollars if it might not help our forclosure anyway.

Wow same person I was just dealing with, of course that has changed. They do the same thing over and over again. You fill out a finacial worksheet and if the numbers don't add up they tell you (because they want you to change the numbers)they want you to cash in your 401ks borrow from friends and family to pay the lawyers and their fees. In our case the downpayments started out at $5000 then we were to make 2 other payments at $3000+. We paid the downpayment but the other 2 payments no way, we told them and they helped us (not) with a new payment plan this one six months long, the next 1year. We completed this one but unknown to us they never stop charging us foreclosure fees (no statements). 4 years of this only 6 statements and alot of money and we are still going to court. So first thing you need to do is get a transaction history- Use a Qualified Written Request under RESPA (look it up). Have your attorney read the repayment agreements because they are meant to keep you from going to court. You have to agree to the amounts you are in default, to pay their attorney fees, that they will continue with foreclosure, that they will continue to report lates to credit reports. The entire time we were in repayment (paying extra largepayments every month) they reported us in foreclosure on the trade line which meant we could never refinance and dropped our scores. They also charged us property inspection fees, late fees, fee fees, foreclosure fees, BPO's and others. They also told us we did not need to go to court because we were in repayment - wrong. They had a decree of foreclosure from a default judgement - which they tried to sheriff sale the house 4 months after the repayment agreement had been completed, they said that was a OOPs. In ohio it can take up to 9 months to foreclose if you take no action. What ever you do don't move out and don't sign because you feel you have to choice when you do, you admit to everything and have no defense in court. Hope some of this helps. Look me up I am not far from you. Check the msfraud board.

Well The week I wrote this report I was under the impression that they were trying to help me. I faxed them yet another financial for them to go over to see if I would qualify for a loan mod. Within the next few days I received a notice from a realitor telling me that they can help me with the foreclosure that had been filed against me. This also included a copy of the docket sheet. I was so unaware that they were doing this. Funny part in all of this is that when Rachel Roberts looked over our financials, we are short a $1000.00 a month to pay all our bills and such for the month. I dont mean to sound stupid but at what piont when I refinanced did they think I could have afforded the new loan of $133,000 when we made about $36,000. a year. I really dont understand this. Please if anyone can help. I have spoken to an attorney and he is trying to help but I am still so unsure of what to do. I want to keep my home. And from what others here are saying I dont think I should just countersue like the attorney said. I want peace of mind that they arnt just going to walk in here and kick me out. I think I should just pay the reinstatement amount of $10,000. and then sue them. This is just making me sick. If any of you have advice please let me know.

Jackie, Be sure that your attorney looks very closely at the prepayment you paid when you refinanced. I too went to refinance with Homecomings and researched a pre-payment issue that Homecomings told me I had to pay. My prepayment was in excess of $12,000. A little research on my part established that Homecomings was probably not entitled to the prepayment by state law, my state being in the North East, and that in fact Homecomings "customer service" personnel were not correct in their assessment of the law and the type of institution Homecomings actually is. They tried to convince me that they are governed by Federal Banking Laws because they claim to be Federally Chartered. This is not the case and I actually got the $12,000 pre-payment paid for me, by the loan broker. This may all seem Greek, but trust me when I tell you, a little investigative work may be very fruitful. I told the Attorneys that Homecomings had handling my case that I was speaking with the Attorney General in my state, and I was. They were very quick to resolve my issue. Get anyone you can think of involved in these issues. Homecomings is very much mis-informed when it comes to the laws of the various states they writer mortgages in. Good Luck.

Jackie, Be sure that your attorney looks very closely at the prepayment you paid when you refinanced. I too went to refinance with Homecomings and researched a pre-payment issue that Homecomings told me I had to pay. My prepayment was in excess of $12,000. A little research on my part established that Homecomings was probably not entitled to the prepayment by state law, my state being in the North East, and that in fact Homecomings "customer service" personnel were not correct in their assessment of the law and the type of institution Homecomings actually is. They tried to convince me that they are governed by Federal Banking Laws because they claim to be Federally Chartered. This is not the case and I actually got the $12,000 pre-payment paid for me, by the loan broker. This may all seem Greek, but trust me when I tell you, a little investigative work may be very fruitful. I told the Attorneys that Homecomings had handling my case that I was speaking with the Attorney General in my state, and I was. They were very quick to resolve my issue. Get anyone you can think of involved in these issues. Homecomings is very much mis-informed when it comes to the laws of the various states they writer mortgages in. Good Luck.

Jackie, Be sure that your attorney looks very closely at the prepayment you paid when you refinanced. I too went to refinance with Homecomings and researched a pre-payment issue that Homecomings told me I had to pay. My prepayment was in excess of $12,000. A little research on my part established that Homecomings was probably not entitled to the prepayment by state law, my state being in the North East, and that in fact Homecomings "customer service" personnel were not correct in their assessment of the law and the type of institution Homecomings actually is. They tried to convince me that they are governed by Federal Banking Laws because they claim to be Federally Chartered. This is not the case and I actually got the $12,000 pre-payment paid for me, by the loan broker. This may all seem Greek, but trust me when I tell you, a little investigative work may be very fruitful. I told the Attorneys that Homecomings had handling my case that I was speaking with the Attorney General in my state, and I was. They were very quick to resolve my issue. Get anyone you can think of involved in these issues. Homecomings is very much mis-informed when it comes to the laws of the various states they writer mortgages in. Good Luck.