Home Eq Servicing Foreclose on my home when the value has dripped by over $40,000 Raleigh North Carolina

I originally obtained a mortgage from Wells Fargo, it was a 3 yr ARM with a 3 yr pre payment penalty. At the time I was working for the phone company making very good money. I had figured on re-fi'ing the house at a later time due to the ARM interest rate starting at 8.6%. The payment was $1,250 per month NOT including taxes or insurance. I lost my job but had other means of income. I cased out my 401k and my pension in order to save the house. After another year of faithfully making the payments I was finally out of money. I was in constant contact with Home Eq letting them know this was only a temporary situation. They didn't care. I started to fall behind on the payment. We opted to try for a short sale. However, this house that appraised for $176,000 when I bought it had fallen in value over three years to about $115,000. We offered sale price as low as $119,000 and still no offers. Obviously re-fi was not an option. I begged Home Eq for some help, the only thing they could do was to tell me that I could either pay the entire past due balance or break it up into several months and add it in with my regular payment. That is when they also informed me that my payment would be adjusting up to over $1,700 per MONTH!! After the foreclosure sale I went onto their website and now they have at least 6 programs in place that would have completely saved our home and put us in a better financial situation, not only for us but for them as well. We own over three acres so we have a year redemption period on this property. I have tried to reason with Home Eq but I receive no response from them. I have contacted some agencies that help dis-stressed home owners and they were not able to do anything with Home Eq either. With the legal fees and what not the house balance is now over $168,000 with a market value of $115,000. What is the benefit to Home Eq to try and take this house a year down the road? Why didn't they tell me about all these options for saving my house. I feel I was the victim of predatory lending initially by Wells Fargo who qualified me on an adjustable payment that when adjusted I could not afford. Now we are in a much better financical situation, however I still get no response from Home Eq. In a year I will have saved up alot of money and move on to another house. This house will sit here vacated and probably be condemend at some point.

Craig
Battle Creek, Michigan
U.S.A.