The Money Store/a.k.a HomEq Wachovia Nothing You Try, Will Stop These Demons Sacramento, Charlotte, & Florida

Hi, Kevin I hope that you have taken care of the flood insurance situation now and I am sorry that you had any problems.

I am curious about this though. I know mortgage companies typically obtain their flood determination information directly from the counties, townships, or parishes that a property is located in.

This paperwork should have been with your loan package. It sounds like your either had to obtain a Letter of Map revision (LOMR) or a Letter of Map Amendment Letter (LOMA) letter from your county that you used to let this company know that you did not need flood insurance.

I know the LOMA is given on a case by case basis and the structure on the property itself is evaluated and the property itself though it may still be in the flood is exempted from the flood insurance requirement.

The LOMR is when the county or flood officials reevaluate the risk of a flood within a particular area if say the probability of a flood occuring there is significantly reduced. Example: New levis in an area where they were previously weak could cause this change.

I know that based on my experience. My home was in a flood zone, however it was very unlikely that flood waters would ever actually enter the home due to it being on a four foot foundation so we had contacted the county to have our home reeavaluated and received a LOMA letter that we gave to the mortgage company. The property itself is actually still in a flood zone, however there is no flood insurance requirement.

You can check Fema's web at http://www.fema.gov/
for more info on how this is done.

I recently worked for HomEq and was laid off, but lets say I am not doing this due to that, I totally understand all everyone feels, fore I was a rep for them and had to deal with many hurt and distraught people on a daily basis, example, I had a woman who had a specific type loan that had to be paid every month on time at the same time every month, she called asking her Pay Off amount and how much her interest and balance was, in which I had informed her of, she then replied I have been paying on this laon for 5 years and you are telling me that all I have paid on my home is 600.00, yes maam only 600.00 , and the reason why is the type of loan you have does not allow you to pay your mortgage payments early, unfortunately you have to pay your bill every month on the same exact day or the amount of days early or late accrue interest.

So lets say you are due on the tenth and pay the bill two weeks early, you are then accruing interest for 14 days! And yes folks if you pay your bill early you are charged interest, no pat on the back saying good for you you will pay your bill off early, its we screwed you by giving you a loan we know you needed because no one else would, and because we were so nice to do so we are going to screw you and basically own you for the next 30 years it takes to pay of your loan.....

Yes folks this is how they work, can you now understand why they used to be the Money Store and when everyone showed up for work the doors were locked and everyone was told to go home....Yes folks the door was locked and no one was thier this happened I believe in 2000, not too exact, when at work and we mentioned this or had questions we didnt get too many answers.

Anyways tho, this company is a joke they have horrible practices they have terrible rules especially when it comes to your escrow accts and them saying we didnt get the information from your insurance company in time which forced us to place our own.....

They are awful and like its predecessor they will crumble like The Money Store after all thats who they are just under a different name!

I recently worked for HomEq and was laid off, but lets say I am not doing this due to that, I totally understand all everyone feels, fore I was a rep for them and had to deal with many hurt and distraught people on a daily basis, example, I had a woman who had a specific type loan that had to be paid every month on time at the same time every month, she called asking her Pay Off amount and how much her interest and balance was, in which I had informed her of, she then replied I have been paying on this laon for 5 years and you are telling me that all I have paid on my home is 600.00, yes maam only 600.00 , and the reason why is the type of loan you have does not allow you to pay your mortgage payments early, unfortunately you have to pay your bill every month on the same exact day or the amount of days early or late accrue interest.

So lets say you are due on the tenth and pay the bill two weeks early, you are then accruing interest for 14 days! And yes folks if you pay your bill early you are charged interest, no pat on the back saying good for you you will pay your bill off early, its we screwed you by giving you a loan we know you needed because no one else would, and because we were so nice to do so we are going to screw you and basically own you for the next 30 years it takes to pay of your loan.....

Yes folks this is how they work, can you now understand why they used to be the Money Store and when everyone showed up for work the doors were locked and everyone was told to go home....Yes folks the door was locked and no one was thier this happened I believe in 2000, not too exact, when at work and we mentioned this or had questions we didnt get too many answers.

Anyways tho, this company is a joke they have horrible practices they have terrible rules especially when it comes to your escrow accts and them saying we didnt get the information from your insurance company in time which forced us to place our own.....

They are awful and like its predecessor they will crumble like The Money Store after all thats who they are just under a different name!

I recently worked for HomEq and was laid off, but lets say I am not doing this due to that, I totally understand all everyone feels, fore I was a rep for them and had to deal with many hurt and distraught people on a daily basis, example, I had a woman who had a specific type loan that had to be paid every month on time at the same time every month, she called asking her Pay Off amount and how much her interest and balance was, in which I had informed her of, she then replied I have been paying on this laon for 5 years and you are telling me that all I have paid on my home is 600.00, yes maam only 600.00 , and the reason why is the type of loan you have does not allow you to pay your mortgage payments early, unfortunately you have to pay your bill every month on the same exact day or the amount of days early or late accrue interest.

So lets say you are due on the tenth and pay the bill two weeks early, you are then accruing interest for 14 days! And yes folks if you pay your bill early you are charged interest, no pat on the back saying good for you you will pay your bill off early, its we screwed you by giving you a loan we know you needed because no one else would, and because we were so nice to do so we are going to screw you and basically own you for the next 30 years it takes to pay of your loan.....

Yes folks this is how they work, can you now understand why they used to be the Money Store and when everyone showed up for work the doors were locked and everyone was told to go home....Yes folks the door was locked and no one was thier this happened I believe in 2000, not too exact, when at work and we mentioned this or had questions we didnt get too many answers.

Anyways tho, this company is a joke they have horrible practices they have terrible rules especially when it comes to your escrow accts and them saying we didnt get the information from your insurance company in time which forced us to place our own.....

They are awful and like its predecessor they will crumble like The Money Store after all thats who they are just under a different name!