KELLY
SCAPPOOSE,#2Consumer Comment
Tue, May 11, 2004
I KNOW WHERE YOU ARE ALL COMING FROM. MY HUSBAND AND I FILED FOR CHAPTER 13 TO SAVE OUR INVESTMENT, AND HAVE MADE ALL OF OUR CURRENT PAYMENTS TO THEM EVERY MONTH AND THEY ARE TRYING TO FORECLOSE ON US. OUR ATTORNEY HAS NEVER RECEIVED A STATEMENT FOR THE ARREARAGE TO BE PAID THROUGH THE CHAPTER 13 TO GET US CURRENT, INSTEAD THEY HAVE ADJUSTED OUR MONTHLY PAYMENTS TO REFLECT THE ARREARAGE. OUR ATTORNEY HAS TOLD US TO KEEP OUR MONTHLY PAYMENTS CURRENT AS THE PLAN ALLOWS FOR THE REGULAR MONTHLY PAYMENTS + $200.00 MORE A MONTH FOR THE CURRENT PROPERTY TAXES, BUT HOMEQ INSISTS THAT WE MUST PAY THEM AN ADDITIONAL $600.00 PER MONTH TO GET CURRENT FOR ONE YEAR PLUS ALL THEIR ATTORNEY FEES, AND FORECLOSURE FEES. SINCE WE HAVE NOT MADE THEIR EXCESS PAYMENTS EVERY MONTH AND HAVE IGNORED THAT WE ARE IN A CHAPTER 13 THEY ARE TRYING TO FORECLOSE. DOES ANY ONE ELSE HAVE THE SAME ISSUES?
Saundra
Mount Holly,#3Consumer Comment
Mon, May 10, 2004
My thoughts go out to you all. I am also with Homeq and they tried to foreclose on me to and up my payments sky high. When i send them the regular payment they will put it in hold making me late. I cant refinance because credit is bad because i cant afford to pay anybody else. I live in Mount Holly NC in a single wide mobile home and a acre of land paying 985.00 a month. I could live in a fine home for that kind of money. I cant believe that they can get away with this.
Lorraine
Williamstown,#4Consumer Comment
Tue, April 20, 2004
I know where your coming from because we went threw the same thing except we were in a chapter 13 case. They took us to court and we won well I called last year to get a close out balance and they had all these fees added to it which totaled $7372.24 plus the principle Which I felt this was wrong took to our atty. which we are still battling.So as you can see, I understand where you comming from. I wish you alot of luck. It's awful that they can get away with this.So far we haven't resolved our problem as of yet and its been a year. Good luck don't let them get away with!!! Lorraine
Cindy
Liverpool,#5Consumer Comment
Sat, January 10, 2004
refinance through another company. That is if you can, don't let those bastards take your home.
Sharon
Atlanta,#6Consumer Suggestion
Fri, January 09, 2004
Please contact Banking and Finance in the State of Ohio your account number was not listed i can send 100.00 dollars if this will help you i understand.
Glenda
Friendswood,#7Consumer Suggestion
Tue, December 02, 2003
The complainant (letter writer) sounds educated and articulate. I was on the website looking for complaints against Homeq aka The Money Store and came across this letter. While surfacely heart-wrenching, I don't understand why a mortgage even exists on this property after 34 years. The mortgage should have been all but statisfied by the time the grandfather passed away. Something was said about making 39 payments from 2000 to 2003 - that time frame should be in the nieghborhood of 48 payments. More than likely theirs (grandma and granddaughter's) is a "cash out" or home equity or home improvement loan. These loans usually come at higher interest rates and strict performance. The lender (the crooks that we all agree they are) looks for loopholes to access greater and greater penalties and charges to the loan hoping the end result puts the consumer in an irretreivable or unsavable financial position with their property. If you look up the FTC website, The Money Store has been calculating mortgages using illegal amortization methods for years (since 1991). They were required to pay 1.1 million dollars back to folks that they had done this to. The bad news - they're still doing it. The only answer I can come up with is -don't do business with them. I am about to borrow enough $$$ from my 401k to pay them in full and then hope I don't run across them sometime down the road again functioning and scaming under yet another name that OUR government let them have.
Samuel
Savannah,#8UPDATE EX-employee responds
Tue, December 02, 2003
I worked for HomEq Servicing, previously The Money Store, and their Parent Company, Wachovia Corporation, previously First First Union National Bank, for over 5 years until I left the company. My field of expertise is Foreclosure, Loss Mitigation, Collections and Recovery. I know the guidelines that their company uses when dealing with homeowners in your situation and I know the laws pertinent to foreclosue in all 50 states. I believe that there are some key 'discrepancies' in your situation, as it has been relayed, and the actual facts surrounding this issue which could possibly present us with some problems negotiating with the mortgage company. As well, tomorrow, 12/02/2003, would be the last day that I would be able to assist you in negotiating with HomEq. At this point, given the current situation you have relayed in your posting, you really have very limited options. You will either have to do one of two things to prevent the foreclosure sale: 1) Contact the company, have them advise you of the full amount to reinstate the loan and bring it completely current. (Which will include all outstanding foreclosure related fees and costs as well as delinquent mortgage payments.) Present the amount that HomEq quotes to you, either to the company directly by bank wire, or Western Union Quick Collect or to the local legal counsel representing HomEq in the foreclosure action, prior to the time of the sale. (or #2) 2) Retain an attorney to file bankruptcy on behalf of the mortgage owners and include this debt in your bankruptcy petition. The bankruptcy case would have to be filed with the court, which means obtaining a court assigned case number, prior to the foreclosure sale. (Your attorney can ensure that this happens.) However, the bankruptcy will only 'stay' the sale. You will be required, depending on what type of bankrupcty that you file, to either reinstate the loan completely before the case is discharged or you will have to make your monthly mortgage payments, on time every month, to HomEq as well as the trustee payments which will be due to reinstate the arrears amount. (Again, your attorney will best be able to assist you with the particulars on how to do these things.) If you are unable to do either one of those two things, your bankrtupcy will be for naught as HomEq will be able to reinstate the foreclosure process (and possibly the sale date as well) as soon as your discharge or dismissal from bankruptcy is complete. Any other type of assistance that I may have been able to provide is basically moot at this point based on limited contact potential using this form of medium and the given timeframe before the pending sale. I wish you good luck and will watch this site if you have any questions that I might be able to assist you with.