• Report: #378600

Complaint Review: HomEQ

  • Submitted: Mon, October 06, 2008
  • Updated: Tue, December 23, 2008

  • Reported By:Indianapolis Indiana
HomEQ
PO Box 79230 City Of Industry, California U.S.A.

HomEQ Strikes Again! Fraudulent and Predatory Lending practices City Of Industry, California

*Consumer Comment: Way to Go Robert!

*Consumer Comment: U need to get a lawyer from where u live

*Author of original report: Here we go again Whut....

*Author of original report: Here we go again Whut....

*Author of original report: Here we go again Whut....

*Author of original report: Here we go again Whut....

*Consumer Comment: Gee Robert

*Author of original report: Finally.....

*Author of original report: And the hits just keep on coming.

*Author of original report: And the hits just keep on coming.

*Author of original report: And the hits just keep on coming.

*Author of original report: And the hits just keep on coming.

*Consumer Comment: I know how you feel

*Author of original report: Tim...

*Author of original report: Angry man....hmmmmm

*Consumer Suggestion: Do what you think is right

*Consumer Comment: Robert

*Author of original report: One more thing I would like to add..

*Author of original report: One more thing I would like to add..

*Author of original report: It seems as though no one actually reads the initial postings...

*Consumer Comment: Uh...Robert

*UPDATE EX-employee responds: OOOOO a lawyer!

*Author of original report: I have a lawyer.....

*Consumer Comment: Robert

*Author of original report: Update.....

*Author of original report: Update.....

*Author of original report: Update.....

*Author of original report: Update.....

*Consumer Comment: Robert

*Author of original report: When youve got them dead to rights they respond quickly....

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I bought a house a few years ago with HomEQ and because of my credit score at the time I ended up with 2 loans through them. One for the bulk of the amount and the second for the remaining smaller amount. Unfortunately I had an adjustable rate (of course it would be applied to the larger of the two loans). I knew this upfront so I expected the rate to change after the initial 2 year fixed period.

I have a somewhat unique situation where I get paid once a month and its typically the 3rd week of each month. I work as a government contractor in Iraq and have been here for almost 4 years now and thats just the way my company pays me. I tried to get them to make my payment due after my payday but they said they couldn't do that and it had to be on the 1st of each month.

The only way they said I could fix this problem was to make 2 payments initially so that I was always paying ahead one month and I would never be late or behind. I did this for both accounts on my first payment and everything was fine for about 2 years or so then everything went down hill.

I started receiving letters and late notices stating that I was behind on my house payment. The odd thing about it though was that I was only behind on one of the loans, take a guess which one was behind....you got it...the larger of the two loans. I started making phone calls and talking to everyone I could at HomEQ to fix this problem and since I am in Iraq and they are on the west coast I had to wait until midnight my time to call them. I found out that they had incorrectly applied the second payment on the larger loan to principal instead of applying it as an actual payment.

I had to call them many times to try to fix this and was told every time I called that it would be taken care of and every time it wasn't. They even reported it to the credit agencies which lowered my credit score.

Eventually someone there said it was fixed for good and would be applied correctly and they apologized profusely for the error on their part, I even received a letter from them stating that it was fixed and they went as far as to correct the issue with the credit reporting agencies.

I thought the problem was solved...I was wrong! About a month later I received another letter, this time they added late fees and said I was over 3 payments behind and they also increased my monthly payment. As I said initially I knew the rate was adjustable so I figured it was just a matter of time for them to raise the rate so they could make more money, the only problem with that train of thought is that all the interrest rates have been dropping due to the economy we are currently in.

When I asked them about the rate increase they explained it in terms a college math professor couldn't understand and once again apologized for the mix up with the initial problem and said they would fix it. That was about 3 months ago and in that time they have not only raised my payment again, which is against the written agreement I signed (it states they can only raise it once every 6 months) but I have also received more than 4 letters saying that I am behind on my loan and the amounts increase every letter I get (I get a new letter about every week)...from 2k in the first one to an astronomical $9500 on the most recent letter.

I mentioned before that I am in Iraq and this type of harassment just makes my job that much harder considering I have enough daily stress just with the location of my job and the local environment. I am not the only person who has spoken to them about my situation. I enlisted my grandmothers help via a power of attorney. My grandmother has owned a real estate company for many years and is quite knowledgeable in these types of matters.

She has spoken to them more than I have and is having the same issues with them. The most recent letter I got stated that I am behind almost $9500 + late fees and they are going to foreclose on my home. It goes on from there but I think I have written enough for you to know how they operate.

I know my story isn't much different than many of those out there dealing with them with the possible exception that I am going to pursue legal action against them. Many of the posts I have read involve people who for one reason or another cant financially afford to do this and I completely understand that and am not saying anything negative about them what so ever...Ive been there myself!

If anyone who reads this wants to get involved with me on this please don't hesitate to contact me so we can discuss this. I want to see them shut down and not just slapped on the hand with a ruler for being bad. I am not one to easily give up either so this should prove to be interesting and possibly even fun....

Good luck to all involved with them and for those of you who aren't already... STAY AWAY!

Robert
Indianapolis, Indiana
U.S.A.

Click here to read other Rip Off Reports on HomeQ

This report was posted on Ripoff Report on 10/06/2008 01:29 AM and is a permanent record located here: http://www.ripoffreport.com/r/HomEQ/City-Of-Industry-California-91716/HomEQ-Strikes-Again-Fraudulent-and-Predatory-Lending-practices-City-Of-Industry-Californ-378600. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

Way to Go Robert!

AUTHOR: Mmatthews - (U.S.A.)

Robert,
I am so glad that you were ableto get your modification. I am SOOOOO glad that "Whut?" was able to help you. (Please note my sarcasm!) Anyway, the first payment of my modification is due Jan.1, so we will see how it goes. Remember the money that they said they did not owe me a few months ago for my overpayment? Well, I just finally received a check with an apology for their error. Hmmm, I have been fighting for this money since late August/early September....I wonder if I ever would have gotten it if I had not called every day demanding it. Anyway, if you still have my email, keep in touch....By the way, congrats on the new baby!
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#2 Consumer Comment

U need to get a lawyer from where u live

AUTHOR: Cas - (U.S.A.)

If U GOT not notices of forecloser take them to a lawyer all the paper work they sent take it to them get your bank statements proving your case right now were kinda going through the same thing they said that i was missing payments and i didnt know they added house insurance on my account when i already had house insurance through foremost i just recieved a paper in the mail saying that we were refunded 1061.94 in to loan account we have a lawyer and he had to file are forecloser papers by last month so were fighting it we have all the proof of our payments everything that has ever went to that company. But get a LAWYER it will be the best thing so u can sue the h*** out of them. next time we see the lawyer we will be seeing about going after homeq for slander and fraud cause what they are doing at that company is fraud.

But also the problem your lawyer will say is u got caught in the mix when the company wachovia was bought out thats why most people are in this mess i know how u feel dont worry i hope i helped to out a lil bit
cas
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#3 Author of original report

Here we go again Whut....

AUTHOR: Robert s. - (U.S.A.)

Yes I did know about loan mods before you graced my posting with your "all knowing" presence, you didn't sweep in and save the day so don't go patting yourself on the back just yet! You certainly aren't my savior or anyone else's whom I have read your replies to for that matter.

As for my loan actually being modified and the conditions behind the modification, all I can say is this....

My first request for a mod was denied because I wasn't behind on payments and I wasn't initially in foreclosure....eventually they put me in foreclosure even though I was never really behind (remember my mentioning that I received letters stating I owed several different amounts up to almost 10k even though I was never late, thats when I went into foreclosure) and people there were confused about my account and how some of my payments had been handled/credited (or at least that's what the letters I received were stating) and when I finally got someone there to see the errors being made with my account they stepped up and actually did the right thing. However, at that point I think they knew they had to do something drastic (hence the mod) or face going to court with a mountain of damaging evidence of illegal activities against them.

I tried over several months to get someone there at HomEQ to stand up and take notice of all the things they were doing wrong with my account and it finally took my hiring a lawyer to get something done, but as you can see...it got done! Looks like the lawyer actually was worth far more than I ever paid him...which was absolutley nothing!

In the end, I am sure people like Whut and others who claim to only be innocent bystanders (not actual employees even though I think most of us believe/know that to be a blatant lie) will continue to doubt what I have written and in some way dispute it or simply resort to childish name calling or similar behavior as they have in the past. All that really does is further prove my point that they most likely currently work for HomEQ and are offended by what hundreds of others and myself have written and are defending not only themselves but HomEQ as well. Maybe they will start to see that not every problem is caused by the customer!

I hope what I have written will somehow help others trying to overcome legitimate problems with HomEq and companies like them, it is possible to fix these kinds of issues if your able to endure the long and arduous process and have the tenacity to keep going after them even though others will tell you its hopeless.....hang in there and good luck!
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#4 Author of original report

Here we go again Whut....

AUTHOR: Robert s. - (U.S.A.)

Yes I did know about loan mods before you graced my posting with your "all knowing" presence, you didn't sweep in and save the day so don't go patting yourself on the back just yet! You certainly aren't my savior or anyone else's whom I have read your replies to for that matter.

As for my loan actually being modified and the conditions behind the modification, all I can say is this....

My first request for a mod was denied because I wasn't behind on payments and I wasn't initially in foreclosure....eventually they put me in foreclosure even though I was never really behind (remember my mentioning that I received letters stating I owed several different amounts up to almost 10k even though I was never late, thats when I went into foreclosure) and people there were confused about my account and how some of my payments had been handled/credited (or at least that's what the letters I received were stating) and when I finally got someone there to see the errors being made with my account they stepped up and actually did the right thing. However, at that point I think they knew they had to do something drastic (hence the mod) or face going to court with a mountain of damaging evidence of illegal activities against them.

I tried over several months to get someone there at HomEQ to stand up and take notice of all the things they were doing wrong with my account and it finally took my hiring a lawyer to get something done, but as you can see...it got done! Looks like the lawyer actually was worth far more than I ever paid him...which was absolutley nothing!

In the end, I am sure people like Whut and others who claim to only be innocent bystanders (not actual employees even though I think most of us believe/know that to be a blatant lie) will continue to doubt what I have written and in some way dispute it or simply resort to childish name calling or similar behavior as they have in the past. All that really does is further prove my point that they most likely currently work for HomEQ and are offended by what hundreds of others and myself have written and are defending not only themselves but HomEQ as well. Maybe they will start to see that not every problem is caused by the customer!

I hope what I have written will somehow help others trying to overcome legitimate problems with HomEq and companies like them, it is possible to fix these kinds of issues if your able to endure the long and arduous process and have the tenacity to keep going after them even though others will tell you its hopeless.....hang in there and good luck!
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#5 Author of original report

Here we go again Whut....

AUTHOR: Robert s. - (U.S.A.)

Yes I did know about loan mods before you graced my posting with your "all knowing" presence, you didn't sweep in and save the day so don't go patting yourself on the back just yet! You certainly aren't my savior or anyone else's whom I have read your replies to for that matter.

As for my loan actually being modified and the conditions behind the modification, all I can say is this....

My first request for a mod was denied because I wasn't behind on payments and I wasn't initially in foreclosure....eventually they put me in foreclosure even though I was never really behind (remember my mentioning that I received letters stating I owed several different amounts up to almost 10k even though I was never late, thats when I went into foreclosure) and people there were confused about my account and how some of my payments had been handled/credited (or at least that's what the letters I received were stating) and when I finally got someone there to see the errors being made with my account they stepped up and actually did the right thing. However, at that point I think they knew they had to do something drastic (hence the mod) or face going to court with a mountain of damaging evidence of illegal activities against them.

I tried over several months to get someone there at HomEQ to stand up and take notice of all the things they were doing wrong with my account and it finally took my hiring a lawyer to get something done, but as you can see...it got done! Looks like the lawyer actually was worth far more than I ever paid him...which was absolutley nothing!

In the end, I am sure people like Whut and others who claim to only be innocent bystanders (not actual employees even though I think most of us believe/know that to be a blatant lie) will continue to doubt what I have written and in some way dispute it or simply resort to childish name calling or similar behavior as they have in the past. All that really does is further prove my point that they most likely currently work for HomEQ and are offended by what hundreds of others and myself have written and are defending not only themselves but HomEQ as well. Maybe they will start to see that not every problem is caused by the customer!

I hope what I have written will somehow help others trying to overcome legitimate problems with HomEq and companies like them, it is possible to fix these kinds of issues if your able to endure the long and arduous process and have the tenacity to keep going after them even though others will tell you its hopeless.....hang in there and good luck!
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#6 Author of original report

Here we go again Whut....

AUTHOR: Robert s. - (U.S.A.)

Yes I did know about loan mods before you graced my posting with your "all knowing" presence, you didn't sweep in and save the day so don't go patting yourself on the back just yet! You certainly aren't my savior or anyone else's whom I have read your replies to for that matter.

As for my loan actually being modified and the conditions behind the modification, all I can say is this....

My first request for a mod was denied because I wasn't behind on payments and I wasn't initially in foreclosure....eventually they put me in foreclosure even though I was never really behind (remember my mentioning that I received letters stating I owed several different amounts up to almost 10k even though I was never late, thats when I went into foreclosure) and people there were confused about my account and how some of my payments had been handled/credited (or at least that's what the letters I received were stating) and when I finally got someone there to see the errors being made with my account they stepped up and actually did the right thing. However, at that point I think they knew they had to do something drastic (hence the mod) or face going to court with a mountain of damaging evidence of illegal activities against them.

I tried over several months to get someone there at HomEQ to stand up and take notice of all the things they were doing wrong with my account and it finally took my hiring a lawyer to get something done, but as you can see...it got done! Looks like the lawyer actually was worth far more than I ever paid him...which was absolutley nothing!

In the end, I am sure people like Whut and others who claim to only be innocent bystanders (not actual employees even though I think most of us believe/know that to be a blatant lie) will continue to doubt what I have written and in some way dispute it or simply resort to childish name calling or similar behavior as they have in the past. All that really does is further prove my point that they most likely currently work for HomEQ and are offended by what hundreds of others and myself have written and are defending not only themselves but HomEQ as well. Maybe they will start to see that not every problem is caused by the customer!

I hope what I have written will somehow help others trying to overcome legitimate problems with HomEq and companies like them, it is possible to fix these kinds of issues if your able to endure the long and arduous process and have the tenacity to keep going after them even though others will tell you its hopeless.....hang in there and good luck!
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#7 Consumer Comment

Gee Robert

AUTHOR: Whut? - (U.S.A.)

I am very happy your loan has been corrected and modified,

As for being a negative person....did you know about modifying your loan prior to my posting how HomEq helped my friend?

Odd though, most people have to be delinquent in their payments and at risk of losing their homes before being modified and mortgage companies modify their loans to keep from having to foreclose

Yes Robert, you are indeed a very lucky man to have yours "fixed" while all your payments are current

Sincerely

Negative...Whut?
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#8 Author of original report

Finally.....

AUTHOR: Robert s. - (U.S.A.)

It seems that I have finally gotten someone at HomEQ to listen and realize how horribly they have handled my account. The end result is that my account will not only be corrected of all mishandling/accounting (as well as my supposedly being refunded all fees and "advances") but my loan will also be "modified" to a reasonable fixed rate instead of the ARM I currently have...

This should drop my payment a little over $500 a month!

I am very glad HomEQ is doing this for me but it still bothers me a little that I had to go to such extremes to get someone there to take notice of all the harassment, mistakes and shoddy handling of my account. Had they only done business correctly in the first place none of this would have happened.

Now I will wait to see if it actually pans out as they say it will. I truly hope so because I really didn't want to have to go to court over this (I spent many months trying to fix this through several different avenues) but they weren't leaving me any other reasonable options. If it doesn't work out as they claim then I will have no other choice but to proceed with legal action. I'm guessing that they realize this and that is part of their motivation (most likely the majority) to modify my loan in the first place.

Finally....some resemblance of justice!
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#9 Author of original report

And the hits just keep on coming.

AUTHOR: Robert s. - (U.S.A.)

This is almost comical now....

I have stated here on more than one occasion that have NEVER been late or missed a payment and yet I keep receiving "statements" saying that I am late or behind and almost every one of them has additional fees added to them for one thing or another.

Well, I thought I finally had someone at HomEQ in the Executive Office working on it and then that person passed it off to someone else (who will most likely do nothing with it as well). This second person sent me a letter stating that all of my late fees since May would be refunded to me and my account would be fixed.

I received that letter and two days later I made my next payment (which went up yet again) for the increased amount. Just 4 days after making that payment I received another "statement" from HomEQ saying that they had received my latest payment on Oct 29Th and it was applied correctly but that I was still a month behind and late fees would be applied on the 16Th if my account wasn't paid current prior to that.

I cant believe how ridiculous this has become!

One day I get someone (the second person) from the Executive Office (supposedly) sending me a letter telling me its all taken care of and I will be refunded in full all late fees since May, a few days later I get another harassing letter saying I'm still behind (after they admitted receiving my payment) and there will be more late fees added.

They received my payment, processed it and got a letter to me stating I was still behind in only 4 days, yet someone with authority to supposedly fix everything cant get it actually fixed and my fees refunded to me in over a week and they have been "fixing" my problems for months now...

"EX-Employees" that post on here always put the blame on the customer and practically insist that HomEQ is following all applicable rules and laws...your kidding me right?

It amazes me companies like this are still in business!
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#10 Author of original report

And the hits just keep on coming.

AUTHOR: Robert s. - (U.S.A.)

This is almost comical now....

I have stated here on more than one occasion that have NEVER been late or missed a payment and yet I keep receiving "statements" saying that I am late or behind and almost every one of them has additional fees added to them for one thing or another.

Well, I thought I finally had someone at HomEQ in the Executive Office working on it and then that person passed it off to someone else (who will most likely do nothing with it as well). This second person sent me a letter stating that all of my late fees since May would be refunded to me and my account would be fixed.

I received that letter and two days later I made my next payment (which went up yet again) for the increased amount. Just 4 days after making that payment I received another "statement" from HomEQ saying that they had received my latest payment on Oct 29Th and it was applied correctly but that I was still a month behind and late fees would be applied on the 16Th if my account wasn't paid current prior to that.

I cant believe how ridiculous this has become!

One day I get someone (the second person) from the Executive Office (supposedly) sending me a letter telling me its all taken care of and I will be refunded in full all late fees since May, a few days later I get another harassing letter saying I'm still behind (after they admitted receiving my payment) and there will be more late fees added.

They received my payment, processed it and got a letter to me stating I was still behind in only 4 days, yet someone with authority to supposedly fix everything cant get it actually fixed and my fees refunded to me in over a week and they have been "fixing" my problems for months now...

"EX-Employees" that post on here always put the blame on the customer and practically insist that HomEQ is following all applicable rules and laws...your kidding me right?

It amazes me companies like this are still in business!
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#11 Author of original report

And the hits just keep on coming.

AUTHOR: Robert s. - (U.S.A.)

This is almost comical now....

I have stated here on more than one occasion that have NEVER been late or missed a payment and yet I keep receiving "statements" saying that I am late or behind and almost every one of them has additional fees added to them for one thing or another.

Well, I thought I finally had someone at HomEQ in the Executive Office working on it and then that person passed it off to someone else (who will most likely do nothing with it as well). This second person sent me a letter stating that all of my late fees since May would be refunded to me and my account would be fixed.

I received that letter and two days later I made my next payment (which went up yet again) for the increased amount. Just 4 days after making that payment I received another "statement" from HomEQ saying that they had received my latest payment on Oct 29Th and it was applied correctly but that I was still a month behind and late fees would be applied on the 16Th if my account wasn't paid current prior to that.

I cant believe how ridiculous this has become!

One day I get someone (the second person) from the Executive Office (supposedly) sending me a letter telling me its all taken care of and I will be refunded in full all late fees since May, a few days later I get another harassing letter saying I'm still behind (after they admitted receiving my payment) and there will be more late fees added.

They received my payment, processed it and got a letter to me stating I was still behind in only 4 days, yet someone with authority to supposedly fix everything cant get it actually fixed and my fees refunded to me in over a week and they have been "fixing" my problems for months now...

"EX-Employees" that post on here always put the blame on the customer and practically insist that HomEQ is following all applicable rules and laws...your kidding me right?

It amazes me companies like this are still in business!
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#12 Author of original report

And the hits just keep on coming.

AUTHOR: Robert s. - (U.S.A.)

This is almost comical now....

I have stated here on more than one occasion that have NEVER been late or missed a payment and yet I keep receiving "statements" saying that I am late or behind and almost every one of them has additional fees added to them for one thing or another.

Well, I thought I finally had someone at HomEQ in the Executive Office working on it and then that person passed it off to someone else (who will most likely do nothing with it as well). This second person sent me a letter stating that all of my late fees since May would be refunded to me and my account would be fixed.

I received that letter and two days later I made my next payment (which went up yet again) for the increased amount. Just 4 days after making that payment I received another "statement" from HomEQ saying that they had received my latest payment on Oct 29Th and it was applied correctly but that I was still a month behind and late fees would be applied on the 16Th if my account wasn't paid current prior to that.

I cant believe how ridiculous this has become!

One day I get someone (the second person) from the Executive Office (supposedly) sending me a letter telling me its all taken care of and I will be refunded in full all late fees since May, a few days later I get another harassing letter saying I'm still behind (after they admitted receiving my payment) and there will be more late fees added.

They received my payment, processed it and got a letter to me stating I was still behind in only 4 days, yet someone with authority to supposedly fix everything cant get it actually fixed and my fees refunded to me in over a week and they have been "fixing" my problems for months now...

"EX-Employees" that post on here always put the blame on the customer and practically insist that HomEQ is following all applicable rules and laws...your kidding me right?

It amazes me companies like this are still in business!
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#13 Consumer Comment

I know how you feel

AUTHOR: Mmatthews - (U.S.A.)

Feel free to contact me. I don't think this site will allow you to post personal info, but I will try anyway. Email me if you can at (((ROR REDACTED))). My email is the same as my screen name along with8117 after. I use aol. Hope you got enough info to contact me.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
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#14 Author of original report

Tim...

AUTHOR: Robert s. - (U.S.A.)

Thank you for your opinion, one that is not only unbiased (meaning I dont see your approach as one from a current or "ex" employee) but also backed by some kind of actual understanding of the issues at hand.

I posted my problems here with HomEQ because I had what I considered to be a real problem with them, not because I was just looking to vent or hadnt approached trying to solve them through the normal channels (like contacting them directly). I have spent many (not an exageration either) hours on the phone calling overseas from Iraq to talk with them about these issues and have also sent the emails I have posted here as well....none of those attempts have worked! I keep getting the run around and feel as though they are simply stalling for some reason, most likely because they know they are in the wrong!

Your opinion and comments could actually do someone some good unlike those that usually reply...

"I should like to think that my posts may give people additional options to saving their homes."

Had you seen the other replies and opinions on other complaints from the individual that recently posted this you would understand why I feel the way I do about his type of postings...they are typically not helpful and certainly dont provide "additional options", they usually only insult the poster and there really is no need or call for that.

I will tell you that I had initially asked Ripoff Report to refer my case to any lawyers that might be interrested. After having talked to my lawyer about this he mentioned to me that he was informed about my case and read my postings here, I assumed it was from my request to Ripoff Report.

I havnt posted this information until now because to be honest I didnt feel it was anyones business but since your reply mentioned it I thought I would. As far as his fees go, he is typically paid by other agencies and the company that he goes after (HomEQ in this case). My actual out of pocket expense to him is very small, if any at all. I have reviewed some of his previous dealings with similar cases and he does appear to know what he is doing so I will continue with him to see where this ends.

I am sure someone will have something negative to say about that because thats just the way this site seems to work...someone will read someone elses post and immediatly reply with something negative or some kind of rebuttal that really doesnt address the complaints, offer any real advice or solutions but only attacks the poster of the complaint which as I said before is childish and unprofessional.

Thanks again Tim!
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#15 Author of original report

Angry man....hmmmmm

AUTHOR: Robert s. - (U.S.A.)

Whut....

I wouldn't say I am an "angry man" in general, what I would say is that I am angry about the way HomEQ has treated me along with what appears to be hundreds of other customers of theirs. Despite what you and others like yourself seem to think, some of (and in my case, many of) their activities ARE illegal and they shouldn't be allowed to continue to get away with it!

I am also angry (or a better way to put it is annoyed) about the way you in particular ALWAYS seem to answer these types of posts. I realize everyone is allowed to reply to posts and I also realize that if I didn't want others opinions then I shouldn't post, but what annoys me is you and others like you (whom I assume are current HomEQ employees even though they all say they aren't...why else would this bother them in what seems to be such a personal way) always seem to have some negative words and or opinion for every poster I have seen you reply to (its not hard to do a search on your screen name and I have read your other posts as well).

You talk like the problems we experience with HomEQ were created by the poster and that its simply a matter of "suck it up" and "pay your mortgage"...that's not the case with me, I have NEVER missed or been late on a payment...EVER! You sound so much like the people we (their customers) talk to when we call in to get the problems fixed, all they do is tell us to pay our mortgage as well and never really fix any of the problems that we are having.

If that's what you mean by my being an "angy man"..then I guess your right!
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#16 Consumer Suggestion

Do what you think is right

AUTHOR: Tim - (U.S.A.)

Robert,

I read your initial post, and your other postings, and I agree that there is a problem that needs to be addressed. In this day and age where everything is managed by a computerized system and "theory X" employees, these snafus happen all the time.

However, I don't know if I would be too hasty to hire a lawyer to deal with this. Try to solve the problem on your own. With the economy the way it is nowadays, there is a lot more consumer sovereignty than before. If negotiating on your own is getting you nowhere, and the cost of an attorney is less than the cost of the problem, go ahead and lawyer up.

But as a side note, I don't know if I would engage this particular attorney. I am licensed to practice law in Indiana, and I know for a fact that it is an ethical violation to solicit business on a personal basis in most situations. It's also arguably an ethical violation to speak to your grandmother about your situation. So it's likely that your attorney is violating some ethical rules, which doesn't mean he won't obtain the desired result, I just get a bad feeling about an attorney who is willing to violate elementary ethical rules.

Best of luck!
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#17 Consumer Comment

Robert

AUTHOR: Whut? - (U.S.A.)

You are an angry man.

If you don't want other peoples opinions-don't post!

I should like to think that my posts may give people additional options to saving their homes.

If you want to pay a lawyer that's all well and fine, all the issues I have had were repaired by HomEq and the funds I had to spend during my time of transition were returned to me without my having to pay additional monies for an attorney and for that I am a satisfied customer!
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#18 Author of original report

One more thing I would like to add..

AUTHOR: Robert s. - (U.S.A.)

After thinking about the way the last few replies were worded and what was actually said by the persons who replied I felt as though I needed to address a few things...

It seems awfully funny to me that an "Ex Employee" (whom I am sure is still a current employee) would spend time rebutting something someone else states about their case that they feel is a waste of time or unmerited. It makes more sense that they have been told (and are following orders from their superiors) to rebut cases like mine on the forums that they are presented on in a lame attempt to put the company in a better light to those that may read the many complaints posted on forums and sites like this.

I have read several other posts from people like "Whut" and the other individual that has replied to my posting and oddly enough all of the posts have the same negative insulting tone to them (especially from Whut)...

You will notice that none of these rebuttals actually address the problems mentioned by not only myself but hundreds of others dealing with HomEQ and companies like them (unjust late fees, improper posting of payments, bogus "advance" fees, improper and illegal credit reporting..and yes it is illegal, harassing letters and threats of foreclosure even after they have already admitted fault in the original problems and the list goes on and on...). All they really do is make it sound as though the problems people are posting about are entirely caused by the individual and not the company in question. They go as far as to name call (eg... Idiots) which is not only unprofessional but childish as well and then expect the readers of their comments to somehow take their opinion or posting as the word of God and as the only possible logical explanation for the situation.

I am sure that actual unbiased readers or anyone else with problems from these companies who are reading these posts for the purpose of research and becoming more informed will see right through these kinds of "rebuttal" posts and recognize them for what they really are... a sad attempt by a company or employee of that company to place blame on the consumer and not where it rightly belongs...the company itself!!!
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#19 Author of original report

One more thing I would like to add..

AUTHOR: Robert s. - (U.S.A.)

After thinking about the way the last few replies were worded and what was actually said by the persons who replied I felt as though I needed to address a few things...

It seems awfully funny to me that an "Ex Employee" (whom I am sure is still a current employee) would spend time rebutting something someone else states about their case that they feel is a waste of time or unmerited. It makes more sense that they have been told (and are following orders from their superiors) to rebut cases like mine on the forums that they are presented on in a lame attempt to put the company in a better light to those that may read the many complaints posted on forums and sites like this.

I have read several other posts from people like "Whut" and the other individual that has replied to my posting and oddly enough all of the posts have the same negative insulting tone to them (especially from Whut)...

You will notice that none of these rebuttals actually address the problems mentioned by not only myself but hundreds of others dealing with HomEQ and companies like them (unjust late fees, improper posting of payments, bogus "advance" fees, improper and illegal credit reporting..and yes it is illegal, harassing letters and threats of foreclosure even after they have already admitted fault in the original problems and the list goes on and on...). All they really do is make it sound as though the problems people are posting about are entirely caused by the individual and not the company in question. They go as far as to name call (eg... Idiots) which is not only unprofessional but childish as well and then expect the readers of their comments to somehow take their opinion or posting as the word of God and as the only possible logical explanation for the situation.

I am sure that actual unbiased readers or anyone else with problems from these companies who are reading these posts for the purpose of research and becoming more informed will see right through these kinds of "rebuttal" posts and recognize them for what they really are... a sad attempt by a company or employee of that company to place blame on the consumer and not where it rightly belongs...the company itself!!!
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#20 Author of original report

It seems as though no one actually reads the initial postings...

AUTHOR: Robert s. - (U.S.A.)

There have been a few "replies" to my postings here and after reading them I find it quite funny that they are telling me I need to "pay my mortgage" and "sick it up"..etc etc

To the first poster that has had a good experience with them...count your blessings because you are certainly in the minority as there doesn't seem to be many others (none really) singing their praises on here except employees...and in those cases all I have to say is what else would you expect!

If you had actually read my initial complaint you would see that I have NEVER missed a payment and am not behind or late as HomEQ likes to state that I am.

As for my lawyer making them quake in their boots, I never said they were. What I said and meant to get across was that instead of sitting by and letting them take advantage of me and doing nothing...I am taking action against them!

As for spending money pointlessly on a lawyer it really is none of your business if I choose to do that but it is your right to post your thoughts and comments here so that's fine if that is the way you see it. And as far as him contacting my grandmother goes...its really not difficult to find someone with an online search if you know the city and last name, especially if the name is as uncommon as mine is.

I welcome comments and replies but honestly if all your going to do is post things that are blatantly negative and continue the type of false accusations that HomEQ is becoming famous for then I would (as I am sure many others would) prefer you just kept those comments to yourself. If you are an ex employee you know as well as I do (and the hundreds of others here) that your company is doing things it shouldnt be and that those practices are illegal.

Servicing companies are supposed to follow the "rules" set forth by the mortgage companies they work for..your right there, except one thing your leaving out is that HomEQ and companies like them have taken those rules and twisted and manipulated them to benefit themselves and in doing that the way they choose to do so are breaking several laws!

I am sure someone with a smart mouth and attitude (most likely an employee or someone posing as a "happy customer") will reply to this with more "I know everything, you know nothing and your wrong" kind of "advice" and that's fine....its just more proof of the type of employees and business practices that companies like HomEQ lean towards!
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#21 Consumer Comment

Uh...Robert

AUTHOR: Whut? - (U.S.A.)

A lawyer contacted your Grandmother after reading your postings on this web site?

Do you NOT find that a bit disturbing that one could actually track your granny down by your complaint and if so.....why would you brag about it?

Have fun spending your mortgage money on an attorney, give us their name so we can read all about the Rip Off they will do too!
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#22 UPDATE EX-employee responds

OOOOO a lawyer!

AUTHOR: Cindy - (U.S.A.)

Oh my, well I'm sure HomEq is trembling in their boots. Their policies are in line with all legal standards set forth by the government and FDCPA. What's worse is that there are idiotic people like you that don't know what their talking about and think by paying a lawyer a whole bunch of money will fix something.


Suck it up people and pay your mortgage. Chances are you'll just be wasting your time and money with a lawyer... but if you feel like throwing your money away and falling further behind then by all means.... go ahead.
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#23 Author of original report

I have a lawyer.....

AUTHOR: Robert s. - (U.S.A.)

A lawyer contacted my grandmother after having read my report on this site. I have talked with him and he seems more than capable and completly understands the laws surrounding this situation and my case. He has also represented other people in similar cases against other companies and from what I have read, done quite well. Not to take anything away from him at all but I would assume that any decent lawyer could take this company on since their abuses and illegal activities are so blatent. I wont go into to many details here since I am sure HomEQ knows about this site and (if they are smart) they follow it too. I will say that I am very much looking forward to working with him and feel much better about my chances of getting my situation straightened out. If anyone in Indianapolis or close by would like to contact him let me know and I will pass your info on to him so he can get in touch with you if he thinks your case merits it. Like I said earlier, I would imagine most of thier clients whom they have wronged would have decent cases since the way they seem to operate is without any regard to the applicable laws. Many companies like HomEQ think they are above the law or simply arent afraid of it because they think we wont do anything....they are about to find out that at least with me they are wrong!
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#24 Consumer Comment

Robert

AUTHOR: Whut? - (U.S.A.)

I do have my loan with HomEq it has been with them for 3+ years, I am extremely happy it has not gone to another servicer!

When my loan went to HomEq none of my escrow money made it to them it took months to get it straightened out and my payments increased because of it.

And then one day I received a call from them that my escrow money was there my previous mortgage company had never sent them, (I was sent a payment history HomEq found from Lehman to prove it) they had my payment from the month before that never was applied so I was in their world a month behind, HomEq cleaned everything up, I ended up with excess money refunded to me and never paid late fees.

I have a friend that also has a loan being serviced by them, she was losing her home, she had to agree to a payment plan for a couple of months then they changed her loan to a lower interest rate, escrowed her taxes and insurance and her payment lowered almost $400 a month.

Mortgage servicing companies have to do what your lender allows, I have many friends who have lost their homes and envy my one friend having had her loan modified.
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#25 Author of original report

Update.....

AUTHOR: Robert s. - (U.S.A.)

Actually I did misword my initial report....however if you had actually read my report (or any of the other reports about them on here) you would have realized that they are commiting several fraudulent activities against the accounts they "service". You make your rebuttal sound as though you are standing up for them...

You are either one of their employees in disquise or your loan just hasnt popped up on their radar yet. If its the later, give it time becaus eit will and they will most likely put the screws to you in one way or another as well.

I did NOTHING wrong with them at all and can prove it, I even have more than one letter from them stating as much yet they still continue to harrass me and damage my credit scrore...etc etc

Until you have delt with them you shouldnt comment on things your not "in the know" about....
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#26 Author of original report

Update.....

AUTHOR: Robert s. - (U.S.A.)

Actually I did misword my initial report....however if you had actually read my report (or any of the other reports about them on here) you would have realized that they are commiting several fraudulent activities against the accounts they "service". You make your rebuttal sound as though you are standing up for them...

You are either one of their employees in disquise or your loan just hasnt popped up on their radar yet. If its the later, give it time becaus eit will and they will most likely put the screws to you in one way or another as well.

I did NOTHING wrong with them at all and can prove it, I even have more than one letter from them stating as much yet they still continue to harrass me and damage my credit scrore...etc etc

Until you have delt with them you shouldnt comment on things your not "in the know" about....
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#27 Author of original report

Update.....

AUTHOR: Robert s. - (U.S.A.)

Actually I did misword my initial report....however if you had actually read my report (or any of the other reports about them on here) you would have realized that they are commiting several fraudulent activities against the accounts they "service". You make your rebuttal sound as though you are standing up for them...

You are either one of their employees in disquise or your loan just hasnt popped up on their radar yet. If its the later, give it time becaus eit will and they will most likely put the screws to you in one way or another as well.

I did NOTHING wrong with them at all and can prove it, I even have more than one letter from them stating as much yet they still continue to harrass me and damage my credit scrore...etc etc

Until you have delt with them you shouldnt comment on things your not "in the know" about....
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#28 Author of original report

Update.....

AUTHOR: Robert s. - (U.S.A.)

Actually I did misword my initial report....however if you had actually read my report (or any of the other reports about them on here) you would have realized that they are commiting several fraudulent activities against the accounts they "service". You make your rebuttal sound as though you are standing up for them...

You are either one of their employees in disquise or your loan just hasnt popped up on their radar yet. If its the later, give it time becaus eit will and they will most likely put the screws to you in one way or another as well.

I did NOTHING wrong with them at all and can prove it, I even have more than one letter from them stating as much yet they still continue to harrass me and damage my credit scrore...etc etc

Until you have delt with them you shouldnt comment on things your not "in the know" about....
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#29 Consumer Comment

Robert

AUTHOR: Whut? - (U.S.A.)

Homeq does not finance mortgage loans so you did not get a mortgage through them.

Your lender transferred the servicing of your loan to HomEq, HomEq then must follow the terms of the loan you have with your lender-this is how mortgage servicing companies make their money BY following the rules set in your mortgage loan

Everyone cusses the servicer, but in the end it is your lender and yourself.
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#30 Author of original report

When youve got them dead to rights they respond quickly....

AUTHOR: Robert s. - (U.S.A.)

After doing some research (both here and other sites) I found some HomEQ leadership emails and decided it was time I took this to the next level. Below is the email I sent....

Gentlemen,

I am writing to you because of problems that I have been having with your company for several months now. I have had my loan either "serviced" or "bought" (cant seem to get a straight answer on that by your customer service reps) by your company for quite some time now and until just recently didn't realize that I wasn't alone in all of this. It truly is amazing what you can find on the Internet if you have the desire and knowledge. For example, I found all of your email addresses along with more than one website dedicated to the exact kinds of problems that I am having (along with hundreds upon hundreds of other HomEQ customers across the country). The information I saw on the websites has prompted me to write you and inform you that I am seeking legal representation to handle my problems with your company since none of your employees seem to be able to correct your company's mistakes!

I have an 80/20 ARM that as I said above is either being "serviced" by or that your company owns. When I first got this loan I asked if the payments could be scheduled for the 25Th of the month since I get paid once a month and that date varies month to month but is typically between the 18Th and 24Th of each month. I work overseas as a contractor for the Dept. of State in Iraq. I was told that would be "impossible" and that the payment was due on the 1st of each month. The only way I could fix this dilemma was to pay 2 payments to both of my accounts (80/20) when I made my first payment so that I was always paying ahead and would never fall behind or be charged late fees. I did this, set my payments up to come out automatically from my bank on the 25Th of each month after the initial double payment and everything seemed fine until recently.

In the past 4 to 6 months I have received more letters, notice of foreclosure and just recently a telegram from your company than I care to talk about, all stating that I am behind on my mortgage and you have accessed late fees...etc etc. This is simply incorrect! I along with my grandmother who has POA (Betty Schierenberg whom you will notice I Cc) have contacted your company on several occasions (more than 10 if the truth were known) and after many hours spent on the phone with your supposed customer service reps have gotten no where. I even have a couple of letters from your company accepting responsibility for the problems I have had and stating that it has been corrected. I have of course received more letters after those and the latest says I am now approximately 9K behind/late and you are starting the foreclosure process, that's almost 4 months of payments and I have never missed one or been late once! It is not my fault that your company cant seem to correctly apply double payments (when the checks specified such and phone conversations ahead of them being sent were about them being applied in that manner), it isn't my fault that your company cant seem to talk amongst its different departments and relay information to fix problems it caused, its not my fault that your company cant seem to inform me when my payment has supposedly increased due to the rate going up (even though all the interest rates have been dropping for months now). The list goes on and on and in my opinion (after having served our country and government in some form for almost 20 years now) it is the leader of an organizations responsibility to ensure those below him/her are carrying out their duties correctly and in a timely manner. You have all failed in your duties to your customers by not ensuring your company and its employees were being ran and supervised correctly!

As I said at the beginning of this letter I will be contacting legal representation on this matter and have no fear, I do have plenty of documentation to back up every claim I will be making. You are guilty of breaking several laws and this can no longer continue without someone standing up to you and your kind of companies. You failed to contact me when my rate was increasing then turned around and reported me late to the credit reporting agencies because I made my standard payment without knowing my payment had increased. You stated that was because you didn't have my new address even though my new address's information was noted on my second loan, just not the first. I find that convenient since it is the larger of the two and your penalties are based on percentages in many cases...you get more money if I am late on a larger sum than a smaller one. This particular "oversight" of yours is in violation of the Fair Debt Credit Reporting Act. You also failed to notify me of that account supposedly being late and added late fees to that account which is in violation of more than one applicable law. The subsequent late reports that you have made to the credit reporting agencies which directly adversely affected my credit report and score aren't substantiated at all...yet another violation! I have on several occasions requested statements from your company and have never received them, only letters harassing me saying I am late or over due or negligent etc etc, that's another violation. Many of your administrative fees, late fees have no basis at all and cant be explained by your employees. I also think you are increasing my payment for the second time in less than 3 months (when my loan paperwork clearly states that it can only increase once every 6 months) based on the fact that my credit score is dropping which puts me as a higher risk client (when its your fault my score is dropping to begin with because of your fraudulent reporting practices).

I will also be contacting several agencies including the Indiana Dept. of Commerce and the Dept. of Corporations in California. I am sure you are familiar with the later since it seems I am not the only one who has either reported you to them or is in the process of doing just that. Businesses of your caliber are a disease and are largely responsible for the economic problems currently plaguing this country. You need to be stopped and someone (like myself and the hundreds of others you are attempting to harm) needs to put your illegal and immoral business practices to a halt by not only bringing the law into play but informing the general public not to do business with you or your type!

After reading literally hundreds of complaints about your company on more than one website (a few I will admit didn't sound as though they could be substantiated and were most likely the individuals mistake or responsibility) I noticed several similarities between my situation and those that I read. However I also noticed one major difference between myself and the rest of those who you are taking advantage of....

I am financially stable with the means to pursue this legally whereas many are not!

I think you and companies like yours continue to prey upon those you consider weak or incapable of doing anything about it, simply so you can add to your bottom line. You will see that I am not like those you typically prey upon... with me you are wrong!

Truly disappointed, thoroughly upset by your sham business practices and tired of being taken advantage of,
Robert Lee Schierenberg


I also Cc my grandmother who has put as many if not more hours into this situation than I have, a few hours later she received 2 phone calls from "Jan" in the Office of the Chief Executive. Jan told her they had reviewed my email and that she was "all over it" , would review my case herself and would be sending out not only a letter to my home but would stay in touch with my grandmother until this was resolved, going as far as to give her cell phone number to my grandmother.

I realize it isn't solved yet and I am not easily fooled either so I do not trust them even though they seem to finally be taking some kind of positive action toward fixing their mistakes. I have decided to give them a choice once I am confident that they fully understand that all of this is their fault and they know I am not playing games (which I think they know now). I am going to tell them that they can either change my loan to a reasonable fixed rate instead of the ARM, clear and clean up my credit from anything they have done to adversely affect it and my credit score and never send me another letter or correspondence other than they typical account statements. I will tell them that if they do this I will CONSIDER not filing suit against them. I am still not decided on that matter fully yet but to be honest I am leaning toward suing anyway, I just cant in good conscience continue to allow a company like theirs to fix my problem and then keep "business as usual" with the rest of thier clients.

I will keep updating this in case some fellow HomEQ clients following my situation are in a similar situations (and I have no doubt there are many more out there). I hope we as a group can start to affect some kind of change in the way they do business, but in the end it will most likely take more than just one person...

Take care all,
Robert Schierenberg
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