Following is a letter that I sent to a very high executive at the top of HomEq Servicing Corp. I truly do not expect a response even though I did recieve a "Read Reciept" almost (2) weeks later!
This letter was sent at the same time I requested a payment history in which I recieved via Fax along with another HomEq Servicing customers' Payment History! I have contacted that customer and told him that I recieved his information along with mine and he stated that he is going through the same thing with HomEq Servicing Corp.
February 1, 2003
HomEq Servicing Corp.
4837 Watt Ave., Ste. 100
North Highlands, CA 95660
Subject: FORBEARANCE AGREEMENT
I am a customer with First Union Mortgage and quite some time back my mortgage was turned over to HomEq Servicing Corp. In the year 2000, I had moved into a very bad position with my mortgage and in the early part of 2001, HomEq Servicing gave me the opportunity to bring my mortgage current through a repayment program. I was very pleased to have this opportunity since the burden of default was on me.
HomEq Servicing Corp. initiated a repayment plan and submitted it to me in May 2001. The plan requested a down payment of $0,000.00 dollars and an additional $000.00 dollars along with my regular monthly payment of $0,000.00 dollars, totaling $0,000.00 dollars. After the $0,000.00 dollar down payment, $0,000.00 would be payable with certified funds each month for the following (18) months, final payment due November 2002. At this point my mortgage would be current!
All payments were made during the (18) month agreement strictly by the agreement! Even though I fulfilled this agreement, according to HomEq Servicing, I failed!
At the end of November 2002, I made the final payment according to the agreement and also made my December 2002 payment early. At this point HomEq Servicing sent me a letter stating that I had defaulted on my Forbearance Agreement. After many days and hours on the telephone with various representatives of HomEq Servicing Corp., it seems as though no one can really give me a straight answer.
These are the reasons that I have received from HomEq Servicing in a very serious situation concerning my Home. Yes, Mr. __________, you have made all payments according to the contract, but-
1. You were given an (18) month contract in which HomEq does not offer any more due to the fact most consumers cannot and will not fulfill the (18) month Agreement. (I did, so what does this statistic have to do with my situation)
2. We (HomEq Servicing) have put in place a new computer system that automatically does the Forbearance Agreement set-up, only for (6) months. Therefore your (18) month agreement did not register with the system correctly and the computer kicked it out as DEFAULT.
3. The new computer system recalculated your Forbearance Agreement which the total owed came out higher than the Original Agreement signed in May 2001. Therefore you are in Default because you have not paid all that is owed!
4. Mr. _________, you talk about this so-called written Forbearance Agreement, we (HomEq Servicing) do not have access or even have this Agreement because it was created such a long time ago! We (HomEq Servicing) have no proof that it actually even existed because of the time period involved! To these remarks, I offered to fax the HomEq Servicing Agreement to the representatives and their supervisors. They were not interested and stated that it would nothing to the fact that I am in Default.
5. I stated to HomEq representatives that I fulfilled the agreement and that according to this I was not in Default. I was told to forget the Agreement and that according to the new system I was in default and that if I do not pay the balance owed, HomEq Servicing will pursue foreclosure on my property!
I have also requested many times for a statement of my account since May 2001 and they will not release this until my account is brought current according to the New Amount owed! The last statement that I have received is July 2000, from First Union Mortgage.
First and foremost, I was fortunate that HomEq Servicing allowed me the opportunity to fulfill my obligation on my home mortgage and bring it current! This Agreement was fulfilled all the way to the end! I thank you and your company for the opportunity!
Second, I do not feel that it is justified for HomEq Servicing Corp. to place me in default because of a new computer system that was put in place during the course of my Agreement with HomEq Servicing, which recalculated my terms and worse than that, not one individual from HomEq notified me to advice me of the new found dollar amount.
Third, this new dollar amount owed is approximately equal to (1) one months payment, plus additional accruing attorney fees and late fees that no one ever mentioned during the (18) months.
Therefore HomEq Servicing Corp. has reported to the Credit Bureaus that I am (30) thirty days past due every month for the entire course of the payment terms. Needless to say this has totally destroyed my personal credit!
Final, HomEq Servicing has not honored what they put in writing, because of a new computer system, supposedly!
The representatives have no concern what so ever regarding this agreement! Quote: As a consumer, you are obligated to pay what we show is owed, period, regardless of what this agreement outlines and regardless of the prompt payment for the past (19) nineteen months. The new hidden amount being reported to the Credit Bureau has totally destroyed any credit worthiness that I had. Simply put, I honored what HomEq Servicing Corp. outlined concerning my mortgage and I am paying a heavy price for it on my credit worthiness (HomEq showing the (30) day late pay every month) and worse the possibility of foreclosure if I do not fulfill the request of the new found amount!
The reality is that I honored the HomEq Servicing Agreement outlined by HomEq Servicing, the very agreement that HomEq Servicing is choosing to breech. And no one at HomEq Servicing seems to be concerned about anything except the revised amount owed and there is no one above the representatives (supervisor or manager) that will acknowledge and honor this Agreement either!
HomEq Servicing Corp. generated this Agreement; I did not. The only authority I had was to honor it, in which I did, right down to the final payment, with every Western Union receipt in hand!
Due to the serious nature of all the above, I need to know who and where to make contact with HomEq Servicing to resolve this matter!
From a consumer stand point; HomEq Servicing Corp. has put me in a wrongful, dishonorable Catch 22 situation with representatives demonstrating no concern!
Can you advice me as to where I can fax the Forbearance Agreement provided by HomEq Servicing Corp. to someone who may be concerned with what was outlined by HomEq Servicing Corp.?
Thanking you in advance for your prompt attention!
Charlotte, North Carolina
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