- Report: #287300
Complaint Review: Homecomings Financial - Minneapolis Minnesota
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Homecomings Financial
homecomingsfinancial.com Minneapolis, Minnesota, U.S.A.
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Homecomings Financial UNFAIR PRACTICES - NON-COMPASSIONATE Minneapolis Minnesota
Our mortgage was also sold to Homecomings Financial as so many of others have been. On June 18, 2007 my husband had a regular surgery which in two days landed him in ICU following a second emergency surgery in which he almost died. He was hospitalized at that time for 14 days. He was out of work all summer and finally went back to work middle of September. On September 25th he had to have a third surgery and has been out of work again now ever since. We have no return to work date at this time and he is now on disabillity from his company. I work full time. Up until this time we have been able to keep up with our mortgage payments.
Homecomings states on their web site that if you are having problems making your payments you can call this number and they will work with you. So I called and waited on hold for 45 mins. before I got someone and I explained the situation. They told me to print the "workout" sheet and fill out and fax back to them which I did. I put down all our assets and all our liabilities and explained in full detail the situation. I waited to get a call from them.
Finally after a week I called back, again another 45 min. wait on the phone to be told there was nothing they could do for us. I asked them about their stated modification plan where they would work with you to lower your payments if there was a hardship need and I was told by the Customer Service person that he knew nothing about such a policy and so I asked why was this on their website and he said he didn't know, he didn't have anything to do with what was put on their website.
So I stated that rather than work with us during this time of hardship, they would prefer to see our house forclosed on. He said he was sympathetic to our problems but there was nothing he could do. I asked to speak to a supervisor and was told that they would tell me the same thing. He said, besides you aren't in default yet. So I said, well we will be. I said, if you forclose on our home and then try to sell it at this point, you will probably not get what we owe on it so why not try to work with us for a few short months until my husband is well and goes back to work and he stated that because of the type of mortgage we had, "conventional loan" our payments were fixed and that they couldn't change them in any way.
I asked again about what they state on their website about "modification of payments" and he said again, he knew nothing about such a thing. We can not refinance because we have no equity in the home. At this point, I hung up in disgust.
I am at a loss at this point. I have read many of the other stories on this site about Homecomings Financial and their practices. I plan to research through Consumer Protection and the Better Business Bureau in the state in which they are located to see if anything can be done.
Sharonv
Ellington, Connecticut
U.S.A.
Homecomings states on their web site that if you are having problems making your payments you can call this number and they will work with you. So I called and waited on hold for 45 mins. before I got someone and I explained the situation. They told me to print the "workout" sheet and fill out and fax back to them which I did. I put down all our assets and all our liabilities and explained in full detail the situation. I waited to get a call from them.
Finally after a week I called back, again another 45 min. wait on the phone to be told there was nothing they could do for us. I asked them about their stated modification plan where they would work with you to lower your payments if there was a hardship need and I was told by the Customer Service person that he knew nothing about such a policy and so I asked why was this on their website and he said he didn't know, he didn't have anything to do with what was put on their website.
So I stated that rather than work with us during this time of hardship, they would prefer to see our house forclosed on. He said he was sympathetic to our problems but there was nothing he could do. I asked to speak to a supervisor and was told that they would tell me the same thing. He said, besides you aren't in default yet. So I said, well we will be. I said, if you forclose on our home and then try to sell it at this point, you will probably not get what we owe on it so why not try to work with us for a few short months until my husband is well and goes back to work and he stated that because of the type of mortgage we had, "conventional loan" our payments were fixed and that they couldn't change them in any way.
I asked again about what they state on their website about "modification of payments" and he said again, he knew nothing about such a thing. We can not refinance because we have no equity in the home. At this point, I hung up in disgust.
I am at a loss at this point. I have read many of the other stories on this site about Homecomings Financial and their practices. I plan to research through Consumer Protection and the Better Business Bureau in the state in which they are located to see if anything can be done.
Sharonv
Ellington, Connecticut
U.S.A.
1 Updates & Rebuttals
Pamela
Aurora,Colorado,
U.S.A.
Loan Modifications
#2Consumer Suggestion
Tue, December 04, 2007
I do not, nor have I ever worked for this company BUT my husband and myself are kind of going through the same thing you are at the moment and you are right, customer service is not helpful and each time you call there is a very long wait as well as having to explain everything all over again each time you call and get a new customer service agent. I can tell you this about their loan modifications though. When you call them you need to ask for their Loss Mitigation department and make sure you get their phone number or extention number so the next time you need to contact them you don't have to go through as many people. Loss Mitigation IS the department you need to talk to for loan modifications or any other kind of help besides making a repayment plan. We have been working with loss mitigation for a little over two months now and have faxed them our financial records so many times that my hair is turning grey over it. Each time they claim, NO, we have not received your fax. You must understand that we get thousands of faxes each and every day and then they tell you to call back in a week to see if they got the fax yet. This has been ongoing for the entire two months. Luckily we got our mortgage through HUD, an FHA loan and found a HUD counselor to speak to and are able to file a report with HUD themselves - who will open an investigation on our account. So I don't know how much Loss Mitigation will help you. They claim they are there to help their customers but you have to understand that Loss Mitigation works for the company themselves and not us. They are there to protect the interests of Homecomings themselves and not us. Anyway, I hope this information helps a little bit. You must get a hold of their Loss Mitigation department for any kind of modifications on your loan. Pamela.
