Under the circumstances stated below, please be advised only the facts will be stated. I believe in being straight forward and to the point, leaving out any type of personal feelings as they can often lead to confusion, hostility and unethical behavior.

The customer service received from Homecomings Financial is less then adequate. They have earned a rating of 2 on a scale from 1 to 10.

In September, 2005 Homecomings Financial became my mortgage lender as the account was sold to them beyond any control of me.

The property is an investment property and was leased. The tenants were not good tenants at all as they have failed to pay rent several times. As a result, I became late on my mortgage payments. The last payment Homecomings Financial received was on January 6, 2006. Today is April 6, 2006. Homecomings Financial has initiated foreclosure proceedings and have violated Colorado state law which is outlined in the Colorado Revised Statutes (C.R.S.).

February 2, 2006 - I contacted Homecomings Financial to advise them of my financial situation. The representative stated she would mail out a repayment package to be completed to prevent any type of negative administrative action against the loan. That package was never received.

March 1, 2006 - I contacted Homecomings Financial and spoke with Ms. Nadia Aguilar, Account Manager, 1-800-206-2901. I explained to Ms. Aguilar that I had prior contact with Homecomings Financial and advised her the financial package promised was never received. She stated she would send this repayment package as soon as possible. She further reassured me that this will prevent any foreclosure action.

March 4, 2006 - I received the financial package from Ms. Aguilar. In her letter it is requested I fax the completed financial package directly to her attention at 1-214-861-6502. This letter closes with the following statement, Thank you once again for contacting Homecomings Financial, and we look forward to exploring foreclosure alternatives for your account.

March 11, 2006 - The financial package was faxed to 1-214-861-6502 to the attention of Ms. Nadia Aguilar. I included all requested information. In addition to the requested information, a copy of the current lease agreement was included as supporting documentation.

March 16, 2006 - The property is listed for sale with a real estate professional.

March 22, 2006 - Homecomings Financial initiates foreclosure proceedings on the property without my knowledge. As set forth by Colorado state law, Homecomings Financial has failed to provide me, in writing, an opportunity to cure the default prior to foreclosure action is initiated. Colorado state law reads: With respect to any consumer loan secured by a deed of trust or mortgage, recorded after January 1, 2002, which encumbers a dwelling, after a default consisting solely of a failure to make any required payment, the owner of the evidence of indebtedness shall, not more than forty-five days after initial default and at least twenty days prior to the recording of a notice of election and demand, or the initiation of a suit for foreclosure, provide written notice of such default and the opportunity to cure, to all persons liable on the debt at the address of the residence of each such person. The failure to provide the notice and opportunity to cure specified herein shall not affect the validity of the deed of trust or mortgage, the ability of the owner of the indebtedness to foreclose pursuant to the deed of trust or mortgage, the foreclosure proceeding, or any proceeding conducted in connection therewith. 38-38-102.5 C.R.S.

March 29, 2006 - I contacted Homecomings Financial (1-800-206-2901) to inquire as to the status of my financial package since I have not received any response with regards to the package submitted on March 11, 2006. I also wanted to add, as supporting documentation, a copy of the listing contract for the property in which I enacted on March 16, 2006 with Coldwell Bankers Realty. I asked for Ms. Nadia Aguilar, however, she was unavailable.

I spoke with Ms. Aulii Beaumont and explained the situation once again. Ms. Beaumont explained to me she was unable to locate the fax, so the fax was never received. She further added the account was submitted for foreclosure proceedings on March 22, 2006. She advised me to re-fax the documents to her and she would forward them to Thomas Wolf as soon as she received it, who would in turn contact me to work out a repayment plan to remove the property from foreclosure as he was assigned to manage the account.

NOTE: Ms. Beaumont is located in the San Diego, CA office and Ms. Aguilar is located in the Dallas, TX office. The reason why Ms. Aguilar was unavailable to speak with me when I called was that she is located Dallas, TX not San Diego, CA. Furthermore, Ms. Beaumont did not find the fax because it was faxed to the attention of Ms. Aguilar in the Dallas, TX office not San Diego, CA.

April 1, 2006 - I received a letter from the law offices of Frascona, Joiner, Goodman and Greenstein, P.C. stating that my loan has been placed with them to initiate foreclosure action. The letter explains I can call Homecomings Financial - Loss mitigation department, however the phone numbers that is listed in their correspondence are inaccurate. 1-800-206-2901 EXT 5130 - or- (858)715-7582.

April 3, 2006 - I attempted to contact Thomas (Tom) Wolf at 1-800-206-2901 EXT 7334. His direct line is (858)505-7334 with no success. A message was left for him to return my call.

April 4, 2006 - I received a NOTICE which has been filed in the District Court of El Paso County, Colorado from the law offices of Frascona, Joiner, Goodman and Greenstein, P.C. The notice was filed seeking an Order of the Court authorizing a Public Trustee's sale under the power of sale. The hearing date is set for April 24, 2006 at 9:00 am in the El Paso County District Court.

I initiated and made phone contact with Mr. Wolf. He presented himself with an arrogant attitude and was very unwilling to help. When asked questions, he would evade the answer. He basically talked in circles. I asked him what it would take to stop all proceedings and to bring the account current. He advised me that I could do nothing, that the property belongs to Homecomings Financial now. Remember, at this point the El Paso County Public Trustees Office has no control over the property and a foreclosure sale date does not exist. I inquired about the financial package I faxed to Ms. Beaumont on March 29, 2006 and he stated he just received it.

Mr. Wolf stated he needed 3 business days to review the package and offer a proposal. I advised him Homecomings Financial had this package for 4 business days already and it was unacceptable to take an additional 3 business days. Mr. Wolf then worked the proposal at that time and stated he would mail it to me overnight via FedEX. I received his supervisors name, Arik Moreno, direct phone number (858)505-7741 -or- 1-800-206-2901 EXT 7741. I have attempted to call several times. I have never spoken to Mr. Moreno as he never answers his phone. I have left messages, and no calls have been ever returned.

April 5, 2006 - I received the proposal via FedEX. I called Mr. Wolf as I had questions about his proposal. The down payment requirement to initiate the agreement has to be completed by April 28, 2006. The down payment, as it is explained in writing and by Mr. Wolf, is for the attorney's fees. Mr. Wolf has verified that the attorney's fees are part of the foreclosure sale and should be included in the foreclosure bucket as he explained. These fees are to be paid from the proceeds of the foreclosure sale and not to be paid up front.

This action is in violation of Colorado state law as it states:

All fees, charges, and costs of every kind and nature incurred under the provisions of articles 37 to 39 of this title shall be an expense of the foreclosure sale chargeable as additional amounts owing under the deed of trust, mortgage, or other lien being foreclosed. Such amounts shall be deducted from the proceeds of any foreclosure sale, or, if there are not cash proceeds at such sale adequate to pay such amounts, to the extent of such inadequacy, such amounts shall be paid by the owner of the evidence of debt secured by the deed of trust, mortgage, or other lien being foreclosed. 38-38-107 C.R.S.

I attempted to make contact with Janeen R. Hill, an attorney from the law firm of Frascona, Joiner, Goodman and Greenstein, P.C. (303-494-3000) with no success. I requested an itemized breakdown of the attorney fees and costs for the down payment, $2208.31, as I felt these attorney fees were quite high for only having the account for only a week. I was forwarded to another employee's voice mail as she is the responsible individual for accounting.

April 6, 2006: - I initiated and made contact with Janeen R. Hill from the lae firm of Frascona, Joiner, Goodman and Greenstein, P.C. as I wanted to inquire about the re-payment plan and the effects by entering into this plan, and the Court date set for April 24, 2006. Ms. Hill stated the court hearing will not be vacated since the paperwork has been set to the Office of the Public Trustee. She further added if the re-payment plan was in force, only the foreclosure sale date would be set back month-to-month. She further added that Homecomings Financial will be changing the locks to the property.

I stated to her the property DOES NOT belong to Homecomings Financial and is listed for sale. I further added that changing the locks would impede the sale of this home and would be very unethical to do. Ms. Hill advised me to talk with Homecomings Financial and advise them the property is vacant and is listed for sale.

I initiated and made contact with Tom Wolf. I advised him to ensure the locks are not changed as the property is vacant and is currently listed for sale. Mr. Wolf stated it was for protection of the property. I responded and advised him, again, Homecomings Financial DOES NOT own the property yet, and if the locks were changed, the sale of this property would be in jeopardy as the real estate professionals would be unable to gain access to show the property to prospective buyers.

I inquired, once again, what it would take to bring the account current. Mr. Wolf advised me all I would need to do is pay the amount due, $10,767.29. This would bring the account current and all foreclosure proceedings will cease. He further added the account would resume with normal payments from that point forwarded and all credit reporting would reflect as though nothing has happened. Quite contradictory as previously stated on April 4, 2006. Mr. Wolf stated he would annotate the account with regards to changing the locks.

April 7, 2006 - Initiated and made contact with Mr. Wolf. I requested a payoff statement for the account to be valid for 30 days. Mr. Wolf stated it would be faxed in 5 business days. Poor customer service.

April 8, 2006 - Received correspondence from the law offices of Frascona, Joiner, Goodman and Greenstein, P.C. dated April 5, 2006. The correspondence contained the requested itemized total of all attorney fees and costs in relation to the foreclosure sale. This statement clearly shows that the down payment requested for the repayment plan is for the costs associated with this foreclosure sale, in which, as stated by Colorado state law, shall be deducted from the proceeds of any foreclosure sale.

Also included with this correspondence was a letter also dated April 5, 2006 from the Loan Resolution department at Homecomings Financial advising me of the requested reinstatement figures. I have not yet requested this information. The correspondence was on Homecomings Financial letterhead and beared no signature.

Frank

Colorado Springs, Colorado
U.S.A.

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