In early 2006 my brother and I bought this place in the mtns of WNC and seem to be doing fairly well with mortgage. Then in early 2007 when it came time for taxes we learned the mortgage company forgot to escrow taxes and add me to the loan. So we were forced to refinance with another lender who was Novastar. My brother and I both asked about the taxes, insurance, and credit life insurance. So our payment went to 1197.00 per month with 11.2 percent ballon rider. He nor I had any clue what all that meant, but we were glad every thing was escrowed into one payment. We thought that saved us alot of money each month. Then in September 2007, my brother got killed in my mom's home, and that left me owing the debt. So I called up Novastar and instructed them about the my brother's death. I sent them his death certificate. They told me to give it 60 days for claim, not to make another payment that his credit life would pay off balance. So then somewhere around late October, I get a letter from HomeQ, telling me Novastar went under and Homeq bought out the loan and I needed to obtain HomeOwner's Ins and catch up my payments or they were gonna foreclose. I told them about the escrow account and they had no clue what I was talking about. So I went and got insurance and caught up my payments. I had no money for a lawyer and didnt know what to do. So I just sucked it in and continue to make payments. And had to pay my taxes as well. Then in Feb 2008 around midnight my home caught fire and barely made it out myself with pets and lost the house and everything I owned. I moved in above with my sister and contacted insurance company and because house was 35 years old they made me rebuild and only paid 90 percent of rebuild. The home is almost finished but do not have funds to finish.
In January 2009, I have had problems trying to keep my mortgage going and owe for Jan and Feb. Homeq has 4518.34 in escrow that insurance company gave them and will not give me the money, and I have signed letters and told them to take the 4518.34 and put it on 4 payments, that would carry me up til May 1, 2009. But no, they will not do it. Instead they send me a letter fixing to proceed with foreclosure. I also get a letter for filing taxes and learned I paid about $15,800 in 2008 and only about $500.00 went to the principal. I was alarmed what they are doing. They are hurting the economy not helping. HOMEQ ARE CROOKS! AND NO ONE IS STOPPING THEM! I am now on disability permanently and have no clue what I am going to do. When this loan first started in with HomeQ, I owed 129,200, and after 15 months of payments, I owe 129,800 and do not understand where all my payments went. All I know I can do is pray that someone will see this and know what to do. I have signed up on a lot of sites under WNathan67 and posted trying to reach someone that knows anyone to STOP HOMEQ! Please if you read this try to find me some help to fight them. Thank you for reading. Nathan (on yahoo)
weaverville, North Carolina