Re: HOMECOMINGS FINANCIAL NIGHTMARE!!
Posted by Jay on December 03, 2004 at 15:19:03:
In Reply to: Re: HOMECOMINGS FINANCIAL NIGHTMARE!! posted by Gail on December 03, 2004 at 00:41:32:
:Gail, I hate to be the one to tell you this but they only buy what is on the market. They didn't orginate the mortage and they didn't force you to sign the note either. Really let's think about this...you probably were promised by your broker that you could qualify for a certain interest rate. Then come closing time the interest rate changed. Did homecomings advise you to sign the note? Probably not, but the homeowner tends to put the blame on companies like these that buy loans and they are really not the culprits here. The folks you should be bringing the suit against is your broker that put you in this loan and possibly the originating mortage company. Sorry to burst the bubble. Oh and by the way unless the market is strong, typically any lending institution will tell you and it is a known fact that when lender's foreclose. Almost 90% of the time they lose money. The general public has a misconception about lender's making money on a foreclosure. In some states if you have equity in the property and the lender forecloses the homeowner is due the equity after the bank gets paid. Let's get informed and educated before you waste your time and money filings suits.
j. : Jay.....Homecomings Financial has a BAD HISTORY of 'pulling' this kind of 'shenanigans' on us poor little ole homeowners......we do everything RIGHT and they will FIND a way to make it WRONG......read the posts on them and you will see what I mean!! They buy loans with high loan to value ratios and then 'take over'/foreclose on the homes ANY crooked way they can, sell them and make money. There are HUNDREDS of posts going back for about three years on them and their unethical business practices. A class action suit against them is IMMINENT......watch the news!! Email me at vgweston@yahoo.com for more information about the class action suit...Gail
: : : On the repayment plan, was the payment due on the 1st? and did the payment arrive after the 1st or the due date they set for you? If it did the repayment verbage states the payment has to arrive before or on the due date. If the payment is a day late you are in breach of the forbearance plan.
: : : Gail I need help as well. I was going to obtain my own attorney but do not know if it is worth it anymore. I am facing a problem with Homecomings as well. I went on a forebearance plan with them in March of 2002-I MADE EACH AND EVERY PAYMENT ON TIME EACH AND EVERY MONTH-Of course I have proof of all of this. Anyway, in December Homecomings sent a payment back to me sending me into foreclosure. When THEY realized the payment was in error they tried making me pay attorney's fee's all over again. I REFUSED. I proved where I had sent all my payments, I had proof that HOMECOMINGS SENT a payment back THREE DAYS before my payment was even due stating I breached my forebearance plan. I went to court and the judge ordered on their behalf because I did not have an attorney. I just need help from anyone that could assist me on this matter. I paid them over 16000 in one year and I got down to the last TWO payments on my forebearance and they said I breached my contract. I could not contact anyone. My phone calls would not be returned and I have documented proof of that as well.
: : : Casandra
