• Report: #258949

Complaint Review: Homecomings Financial (GMAC)

  • Submitted: Thu, July 05, 2007
  • Updated: Thu, July 05, 2007

  • Reported By:Lincolnton Georgia
Homecomings Financial (GMAC)
2711 N. Haskell AV, Suite 900 Dallas, Texas U.S.A.

Homecomings Financial (GHomecomings Financial (GMAC) Homecomings Financial falsely accusing family of six w/severely handicap children of not making payments, went ridiculously high on their interest rate and now trying to foreclose: Ripoff Dallas Texas

*Consumer Comment: Many have these loans

*Consumer Comment: Many have these loans

*Consumer Comment: Many have these loans

*Consumer Comment: Many have these loans

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Homecomings Financial is a horrible mortgage company that should be charged and sentenced on the basis of "FINANCIAL RAPE"!!!!!! My brother in law and sister are a young couple with four children all under the age of sixteen. They are very hard workers and have purchased a home with Homecomings Financial a few years ago. During their time with Homecomings they have been harrassed over the telephone falsely accusing them of NOT paying when indeed they did, having a representative of Homecomings say that they were going to foreclose on their house and the list goes on and on. This family bought a small fixer upper home that at the time was not out of their means. Now, Homecomings Financial has gone up from a 7% loan to a 12% loan, in other words the company knows this is a young couple struggling anyways and instead they continue to do what may cause this family of six to lose their home and NOW ALL OF THIER BELONGINGS INCLUDING THEIR VEHICLE. Homecomings NEVER replies to their phone, fax or letters until the last minute when everything is past due and not only have the interest rates soared but also the late charges that they add on and include. Because of this negliciance of the company, the family has been forced to go into bankruptcy.

Please note that this house that the family live in is not your typical family that just gets by and lives a blauze life. They have a severely handicapped child with numerous medical conditions including AUTISM. The home is just now handicapped equip and so is their vehicle. IT is a shame that the only place that these children have to call HOME is now being ripped out from under them by this so called second rate morgage company. How can they continue to increase their mortgage rates knowing that it's already hard enough to pay the present mortgage? Who in the world gave this rip off company a name such as HOMECOMINGS? I think they should be forced to change their name that tells the story of their leud actions to "HEARTLESS AND RUTHLESS FINANCING COMPANY". This is so UNAMERICAN.

As I am writing this email I am @ my sisters house getting the latest on this story and now she tells me that they are falsely accusing them of not making several months of house payments and that they won't even accept their payment. Can you imagine that? A company won't take the money just so they can put 2 hardworking parents and four children (3 with handicaps) out in the street or forced to the welfare system (if the parents divorce)? Someone please help them!!!! I am in the process of writing Congressman, the PRESIDENT, local commissioners as well as other consumers who have been taken advantage of and financially raped. If you are reading this and can enlighten me more pls email me @ dhutson64@yahoo.com. I am not afraid to speak out against this company and tell the truth!!! I will end up holding seminars, making videos and going on TV and the radio until this issue is resolved for my sister and her family.

Prayer is a powerful weapon and my heart, mind and soul are constantly churning. GOD sees how this company is treating the families and he will do something for they are in the wrong!!! I hope to have rebuttles and hear from those affected by this devouring hell like vultures!

GOD STILL BLESSES AMERICA AND THOSE WHO TRY, PLS PRAY FOR MY FAMILY

THANK YOU

D
Lincolnton, Georgia
U.S.A.

This report was posted on Ripoff Report on 07/05/2007 06:01 PM and is a permanent record located here: http://www.ripoffreport.com/r/Homecomings-Financial-GMAC/Dallas-Texas-75204/Homecomings-Financial-GHomecomings-Financial-GMAC-Homecomings-Financial-falsely-accusin-258949. 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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Updates & Rebuttals

#1 Consumer Comment

Many have these loans

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

First let me say I am truly sorry for your sister & brother in law's predicament.

Also, I am not condoning the actions of Homecomings for their harrassment or their not applying payments as they should have.

However, when it comes to the interest rate, your sister and brother in law signed, in their original mortgage documents, that they were aware the interest rate would go up after their time period was over (1, 2 or 3 years). That is not Homecomings being ruthless and mean, that is the type of loan your sister and brother in law accepted.

I also had an ARM mortgage. I knew, from the date I signed my paperwork, what month and year my interest rate would increase and what was the worst case scenario interest rate I would get. I prepared for the entire 2 years of my lower interest rate to be in the best possible position to refinance. Every month I paid the $12 fee to pay my mortgage over the phone (to not have to rely on the postal service). I made sure every payment was posted on the date it should have been and I made sure every payment was properly debited from my bank account. I'm not trying to "toot my own horn" I just want to give others ideas what they can do to stay ahead. I did refinance and now have a 30 year fixed mortgage with a decent rate, something I once thought I would never have.

To everyone, I know you have read this time and time again on this board. Read your documents. Read everything you sign. Most of the info I got regarding dates and interest rates were found within the first 2 pages of my mortgage documents.
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#2 Consumer Comment

Many have these loans

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

First let me say I am truly sorry for your sister & brother in law's predicament.

Also, I am not condoning the actions of Homecomings for their harrassment or their not applying payments as they should have.

However, when it comes to the interest rate, your sister and brother in law signed, in their original mortgage documents, that they were aware the interest rate would go up after their time period was over (1, 2 or 3 years). That is not Homecomings being ruthless and mean, that is the type of loan your sister and brother in law accepted.

I also had an ARM mortgage. I knew, from the date I signed my paperwork, what month and year my interest rate would increase and what was the worst case scenario interest rate I would get. I prepared for the entire 2 years of my lower interest rate to be in the best possible position to refinance. Every month I paid the $12 fee to pay my mortgage over the phone (to not have to rely on the postal service). I made sure every payment was posted on the date it should have been and I made sure every payment was properly debited from my bank account. I'm not trying to "toot my own horn" I just want to give others ideas what they can do to stay ahead. I did refinance and now have a 30 year fixed mortgage with a decent rate, something I once thought I would never have.

To everyone, I know you have read this time and time again on this board. Read your documents. Read everything you sign. Most of the info I got regarding dates and interest rates were found within the first 2 pages of my mortgage documents.
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#3 Consumer Comment

Many have these loans

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

First let me say I am truly sorry for your sister & brother in law's predicament.

Also, I am not condoning the actions of Homecomings for their harrassment or their not applying payments as they should have.

However, when it comes to the interest rate, your sister and brother in law signed, in their original mortgage documents, that they were aware the interest rate would go up after their time period was over (1, 2 or 3 years). That is not Homecomings being ruthless and mean, that is the type of loan your sister and brother in law accepted.

I also had an ARM mortgage. I knew, from the date I signed my paperwork, what month and year my interest rate would increase and what was the worst case scenario interest rate I would get. I prepared for the entire 2 years of my lower interest rate to be in the best possible position to refinance. Every month I paid the $12 fee to pay my mortgage over the phone (to not have to rely on the postal service). I made sure every payment was posted on the date it should have been and I made sure every payment was properly debited from my bank account. I'm not trying to "toot my own horn" I just want to give others ideas what they can do to stay ahead. I did refinance and now have a 30 year fixed mortgage with a decent rate, something I once thought I would never have.

To everyone, I know you have read this time and time again on this board. Read your documents. Read everything you sign. Most of the info I got regarding dates and interest rates were found within the first 2 pages of my mortgage documents.
Respond to this report!
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#4 Consumer Comment

Many have these loans

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

First let me say I am truly sorry for your sister & brother in law's predicament.

Also, I am not condoning the actions of Homecomings for their harrassment or their not applying payments as they should have.

However, when it comes to the interest rate, your sister and brother in law signed, in their original mortgage documents, that they were aware the interest rate would go up after their time period was over (1, 2 or 3 years). That is not Homecomings being ruthless and mean, that is the type of loan your sister and brother in law accepted.

I also had an ARM mortgage. I knew, from the date I signed my paperwork, what month and year my interest rate would increase and what was the worst case scenario interest rate I would get. I prepared for the entire 2 years of my lower interest rate to be in the best possible position to refinance. Every month I paid the $12 fee to pay my mortgage over the phone (to not have to rely on the postal service). I made sure every payment was posted on the date it should have been and I made sure every payment was properly debited from my bank account. I'm not trying to "toot my own horn" I just want to give others ideas what they can do to stay ahead. I did refinance and now have a 30 year fixed mortgage with a decent rate, something I once thought I would never have.

To everyone, I know you have read this time and time again on this board. Read your documents. Read everything you sign. Most of the info I got regarding dates and interest rates were found within the first 2 pages of my mortgage documents.
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