HOMECOMINGS FINANCIAL Ripoff Reports, Complaints, Reviews, Scams, Lawsuits and Frauds Reported

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1, Report #383765
Oct 22 2008
11:45 AM
HOMECOMINGS FINANCIAL LOUISVILLE Kentucky
Since getting my mortage refinanced though Homecomings finanacial. I have had to go to court every 3 months for 2 years to show proof of my payments. They finally agreed I was correct. After my lawyer and I spent all our time there. But now here we go again. I have been making them sign for each payment since the last time. So I recently recieved my new statement and once again. They say I am 2 payments behind. So I have contacted my lawyer and here we go again. There should be some way to stop these people. They are costing me time and money. If there are any lawyers who is interested in stoping these people please let me know. Efellows MECCA, IndianaU.S.A.
Entity: LOUISVILLE, Nationwide
2, Report #169655
Dec 29 2005
09:16 AM
Homecomings Financial ripoff Dallas Texas
As soon as I decided to have my payments automatically deducted from my checking account Homecimngs decided to add a extra $2000 of taxes onto my escrow. This tax all of the sudden appeared out of no where and made my monthly nut go up about $300 a month. I had to go through my local tax office and fax them a copy of all my taxes and go through a huge mess just to get taxes off my mortage that never should have been there. All in All it was finally taken care of, but not until after I had a heart attack about a mortage payment I will no longer be able to afford and an overdrawn checking account because the payment was taken out before I realized what had happened. If you can try and aavoid homecomings finacial, I would have but my mortage was sold to them from Fairfield mortage and I had no choice. Josh Quakertown, PennsylvaniaU.S.A.
Entity: Dallas, Texas
3, Report #112576
Oct 12 2004
12:09 PM
Homecomings Financial Ripoff Dallas Texas
Homecomings Financial bought my mortgage from my original lender evidently the end of last year...mind you, I only refinanced my loan in November of last year. Well, I was not aware of the change in lenders until JULY of this year!! No notice was given to me, no communication, no registered letter, nothing. My previous lender was Regions Bank and they were kind enough to send my AUTOMATIC bank payments ON TO Homecomings Financial. In July I received notice from REGIONS that my loan had been sold back the end of 2003 and that they would no longer send on my payments to Homecomings Financial. I was DEVASTATED as I had been using the automatic payments, on time, etc. to reestablish my credit!! Anyway, I changed my automatic payments through my bank to go to Homecomings as of August...as of last week they had not 'accepted' or cashed my payments for August OR September. Just the other day I got a letter from some Specialized, Inc. out of Leesburg, VA saying I had 10 days to reply and get my account current with Homecomings or they would FORECLOSE!!!! I had tried repeadedly to contact Homecomings Financial thru their 800 number and keep getting 'cut off', put on 'hold' or 'transferred'....I don't know WHAT to do....I have my bank sending me all the information of where and when the money was paid, so hopefully that will help. This company seems to be in the business of CHEATING people OUT of their homes based on everything I've seen written here, and, also I have a friend whose father is going through the SAME mess with Homecomings...DO NOT DO BUSINESS WITH THIS COMPANY IF YOU CAN HELP IT...good luck. John e. Richmond, VirginiaU.S.A.
Entity: Dallas, Texas
4, Report #125768
Jan 04 2005
03:26 PM
HOMECOMINGS FINANCIAL RIPOFF PHOENIX ARIZONA
I need any help I can get. They haver repeatedly turned me over to bankruptcy attorneys(3 times) and therefore I have had to pay numerous fees. Once they are turned over they will not talk to you. I had my attorney try to contact them to no avail. I was 2 months late when my 2nd pymt was sitting at a western union for them to accept which they never did. I am currently reafirmed but they still have me worried. Jessica HUNTSVILLE, AlabamaU.S.A.
Entity: HUNTSVILLE, Alabama
5, Report #151074
Jul 24 2005
11:42 AM
Homecomings Financial ripoff Dallas texas
I have been reading all the rip Offs on Homecomings and I can relate to most of them. I get drive by charges on account, forced ins. they jump and pay the taxes I am to pay not in escrow, they are a terrible mess. They report late when I pay on time each month and on pay plan it is a way to keep folks with them so they can make money off them by charging fees for this and that. Lois gainesville, MissouriU.S.A.
Entity: Dallas, Texas
6, Report #140041
Apr 23 2005
04:49 PM
Homecomings Financial ripoff Dallas Texas
To all who are having PROBLEMS with Homecomings Financial. We are at wits end with Homecomings Financial, we were told in Jan of 2005 that we owed $6600.00. So we sent them a check. In Feb of 2005 they sent us a letter stating that we owed ANOTHER $6700.00 (mind you we are not paying it as they still have not cashed the cashiers check from JAN 2005). So they called us and FORCED us into a Repayment Plan that they offer. We were originally paying $1126.47 per month and now they are telling us that we have to pay $1582.67 per month for the next ten months which I think is unfair. So we called around to get someone to refinance us and every place that we have called asked us Who is your mortgage company now? We tell them Homecomings Financial and every single Mortgage Company has told us to report them here as they are a FRAUDULANT Company and that there is a class action lawsuit against them. Every Mortgage company wants to see us gone from them because they too have heard nothing but bad things about Homecomings. Now if you ask us that is pretty bad and we feel that they need to be stopped. So what we did is we contacted our Attorney General in our state and made them aware of what is going on. They are going to be writting to Homecomings and if Homecomings does not respond they will lose their licenses in Wisconsin. We also contacted a Class Action Lawsuit Attorney and we explained to him what is going on and he is taking the CASE as he said we are not the first ones to complain about HOMECOMINGS. Does Homecomings not have a heart? Obviously not....how would they like to be on our side and see what we are going thru...and let them all lose their houses. See the original lady that we used to deal with is no longer with the company...can we say..OOPPSS be mistake on their part.... anyway now we supposedly have a new person handling our loan....hmmmmm...makes us wonder how come so many people handle our loan but yet they never know anything....We have sent HOMECOMINGS a letter...mind you...to tell them that we reported them and that we are filing a lawsuit against them. Our Attorney told us to stop making payments because his statement was...do you really want to send money to a company that is FRAUDULANT??? We told him no and so he wrote them a letter stating that they need to stop and not bother us and to not make contact with us and if they need to get ahold of us then they need to contact our attorney. Everytime they send us something or not listen to the attorney we notify him right away and everything is noted. The attorney told us to let everyone know on here to do the same steps that we have done and it will make the CLASS ACTION LAWSUIT go quicker. The only reason you see ROSEMARY replying is because she is repeating the same thing over and over. we believe it is a computer generated typing that comes and and replies to everyone's comment. REMEMBER DO THE STEPS WE DID AND LET'S PUT HOMECOMINGS OUT OF BUSINESS!!!!....TELL EVERYONE YOU KNOW TO DO THE SAME THING AND POST IT ON HERE!!!!!!!!!! Edmund Greenleaf, WisconsinU.S.A.
Entity: Dallas, Texas
7, Report #309308
Feb 15 2008
06:26 PM
Homecomings Financial liars Tampa Florida texas
i have been a customer for homecomings for 2 years . bought my first home from another company who sold the mortgage to homecomings before i could even make my first payment. have had problems with ever since , lost payments, to later be found only after i paid a penalty. recently contacted homecomings to work out payment plan after being laid off of work. upon going back to work and asking for assistance from homecomings and getting thier famous run around of not our department or leave a message and we will call back. i was informed by a process server who served the notice to my 9 yr old son that i was being placed in foreclosure. tried to contact the attorney on record to no avail, finally met with a homecomings counsellor who informed me that even that i was back to work making more money than i originally had that i could not afford my home and they would accept my deed in leau of foreclosure . i agreed signed the paper only to be informed that my foreclosure is still proceeding as planned. they lie to you cant answer questions and by the way will charge off your account and put you in foreclosure while you are still paying them . interesting isnt it. Gene palm harbor, FloridaU.S.A.
Entity: Nationwide
8, Report #312063
Feb 26 2008
04:03 AM
Homecomings Financial Loan Remodification Waterloo Iowa
Homecomings Financial is the company we currently go through and due to them not applying payments properly and a hardship we fell into hard times. They told us that we were behind $5634 including back mortgage and legal fees. I paid half of that and they renegotiated our payments. Thinking that the more I sent in the less I owed I sent in a total of $2000 which is $1352.44 plus an additional 600. When I spoke to them they said we still owed $3000 and I don't understand how. I plan on speaking with them to see if they will renegotiate the plan since we paid more than what was owed. I don't see this as being a problem. My question is does that sound like an unreasonable request? I have dealt with them several times and it seems that they are more willing to talk with the way things are going. With the housing slump and declining economy they do not want the house. It is more beneficial to work with the borrower so why won't they? Tonya Clarksville, TennesseeU.S.A.
Entity: Nationwide
9, Report #85437
Mar 25 2004
09:40 PM
Homecomings Financial ripoff Dallas Florida
My sister-in-law is a daycare provider for low-income families. She purchased a larger home and piece of land in central Florida for herself, 3 children and her clients. She has been repeatedly calling Homecomings financial to make payment and has not received any calls back. Finally, today, a process server came to her door and notified her that her mortgage is 3 months behind and that her house is in foreclosure. She is far too distraught to write this herself, so I am doing it for her. She has the money and is willing to send it, however, after reading this site, I believe they may keep her money and then claim that she never sent it. Although the mess could be sorted out, it would take a very long time and a very good attorney especially since we are dealing with a company with offices located in several states. If ANYONE has any way to resolve this issue, please respond to me. I really need to help her with this or she and her 3 small children could be out on the street by month's end. Lisa naranja, FloridaU.S.A.
Entity: Dallas, Texas
10, Report #269125
Aug 21 2007
11:11 AM
Homecomings Financial Foreclosure Orefield Pennsylvania
I also have been having trouble with our mortgage company, Homecomings Financial. We fell behind on our payments, but managed to send them something every month. We contacted them, and they said to just continue our payments. One month I sent in our mortgage payment, and they sent it back. They claimed because it was not for the full amount owed, they wouldn't accept it. Have you ever heard of a creditor not accepting money? I called and was on the phone for an hour, as I was switched from uninformative representative to uninformative representative, I became angry. I just wanted to make a payment. That was four months ago. I haven't made a payment because they won't accept them, and they claim I am being reviewed for a mortgage modification. I've complied and faxed numerous pages of documentation to let them know our situation has improved, and we WANT to pay our mortgage. I'm scared that one day I will just receive a letter saying foreclosure. I call to get information on our situation, but nobody seems to know anything. They continue to transfer me around whenever I call. There is no direct number to their mortgage modification department. I feel I'm being set up for failure in this situation. Any one have any similar experiences with this company? I have news for Homecomings, if they decide to sell our home, good luck. The housing market in our area has taken a dive, and there is a house for sale on every street. I would figure they would rather make money off of us than take a hit in our sluggish real estate market. Nicole Orefield, PennsylvaniaU.S.A.
Entity: Orefield, Pennsylvania
11, Report #175584
Feb 09 2006
06:16 PM
Homecomings Financial ripoff Dallas Texas
Hello all I sold my house last year because a 69500 loan turned into more than 90000 dollars. I found a lawyer that might take our case but we need to band together. contact me if you want included and I will keep you upto date on what this lawyer says. If any of you have started a class action please contact me as well thanks Matt Kriner Matt brandon, FloridaU.S.A. Click here to read other Rip Off Reports on Homecomings Financial font color=red> 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.
Entity: Dallas, Texas
12, Report #200383
Jul 11 2006
07:20 AM
HOMECOMINGS FINANCIAL ripoff DALLAS Texas
My husband and I are also victims of Homecomings Financial, they caused us to go into a chapter 13, and that was discharged January, 2006, but Homecomings is still showing us in bankruptcy, plus they are stating that we still owe them $5,000.00. Our monthly escrow is over 150.00 more than it should be, and they have all the charges on my statement that were on there before the chapter 13. They have raised our house payment 300.00, and we can harldy make those payment, they are going to cause us to go into another chapter 13. No one will refinance us at all, they are saying the homecomings has really done a number to our credit report. So we can't refinance with anyone, we can not any kind of a loan at all due to these people. I have been on hold for 2 hours, they will not let me speak to a supervisor. Plus everytime that I call them about taking us out of bankruptcy I get a different answer. I have our attorney trying to deal with them, since everything has been discharged and they will not even respond to his letters. We all very much in need of help. I would be more than glad to join a class action suit against homecomings. Thank goodness for the ripoff report, at least we know that we are not alone in this nightmare. Kathy Springfield, IllinoisU.S.A.
Entity: DALLAS, Texas
13, Report #179594
Mar 06 2006
03:42 PM
Homecomings Financial ripoff Dallas Texas
We also suffered through a foreclosure with Homecomings. We had similar problems as many others have listed here, you cannot get through to talk to anyone, they don't return calls or emails. I have been belittled, made fun of and degraded by some of their employees. We did have one guy who was compassionate and would work with us, but the company just kept adding more and more fees and payments on until we couldn't do it any more. I think this company needs to be looked at for their practices. They also won't take payments unless it's some big amount... why not apply what you have and work with you? People can never catch up when you keep adding on more fees, and you won't reply ever. We need a group organized to see what can be done about this company. Joan Small Town, NebraskaU.S.A.
Entity: Dallas, Texas
14, Report #137586
Apr 05 2005
03:52 AM
Homecomings Financial ripoff Dallas Texas
I am presently in a chapter 13 bankruptcy due to Homecomings failing to work with me on payments. I had no choice. I must sell my home due to relocation of work. I cannot sell my home until the chapter 13 is dismissed. I cannot get it dismissed because after homecomings has added an exorbedent amount of fees, there will not be enough monies to pay my first mortgage & Homecomings which is my 2nd mortgage. I have tried to request a short payoff from homecomings, an amount that is more than fair & they refuse to help me. They would rather let the chapter 13 run its course & receive no monies.It make no sense to me . The offer is more than fair. Time is running out as I need to move very shortly. Do I just let me home forclose? These people will not work with you on anything. Can anyone help me, Please Deborah Emmaus, PennsylvaniaU.S.A.
Entity: Dallas, Texas
15, Report #69447
Oct 18 2003
04:47 AM
Homecomings Financial ripoff Internet
Like many I have read about on here I too and being ripped off. Due to my husband loosing his job of 13 years last year we became behind on our payments. I finally got a person on the phone and explained the situation to them and asked if we could defer two payments to get us up to date. I was told no they don't do that. The person I talked to was very cold and seemed like I was wasting their time. She did say that after we became 3 months late to keep it from going into foreclosure that they would work out a payment plan to keep us from loosing our house. Well, if I could not pay the regular payment how the devil was I going to be able to pay an even larger amount. I had emailed several emails to the company on their web site, which by the way I use to use to pay my bills online but now they have fixed it to where I cannot go online and pay my bill anymore just because I am behind a month now. I never received a reply to any of my emails and when I told the woman this she just simply stated they had not gotten any emails from me. You get tired of month after month after month telling them the who what where's and why's of being late. I feel like a broken record here. Every company that I have ever dealt with weather it be small loan companies or even larger companies like the company that I have my car financed through, always can do deferments some up to two a year no problem. All of my creditors have been willing to work with us but Homecomings. I even asked about refinancing the loan to get the payments lowered since my husbands new job is paying him 8 dollars an hour less than what he was making at his last job. They said they could not refinance because I have been continually late on payments for the last 11 months. Well if they would be willing to help I would not be so behind now. Shelia Tupelo, MississippiU.S.A.
Entity: Internet
16, Report #373465
Sep 16 2008
01:23 PM
Homecomings Financial mad Dallas Texas
my dda died in 2006 and myo mom got the house the frist thing that happend is they said your homeowner insurance droped and made my mom buy a new one then they wont send us our monthly statement and still pull out of bank by autopay but dose not say Homecomings Financial instead it saye loanservicing. for 06 we got a taxs statement but since then we havent got one we pay 1,446.49 a month but donot know where its going Marcus mound, MinnesotaU.S.A.
Entity: Dallas, Texas
17, Report #449254
May 06 2009
11:53 AM
HOMECOMINGS FINANCIAL - GMAC Louisville Kentucky
Homecomings Financial is the WORST mortgage company I have ever worked with, and I have worked with a bunch of them!!! I have an investment property mortage loan with HF. I want to drop my PMI insurance. So I called HF to have y PMI dropped. They sent me a letter listing the steps I need to have completed to drop the PMI: have no late payments in last 24 months, have 30% equity, and pay for an appraisal. I have credit score in the high 700's, I never have had a late mortgage payment in my life, I have 37% equity in this particular property, and I have a low debt to income ratio. Any mortgage company would love to have me as a customer. I'm sorry I signed with HF! Well, when I followed up with HF to schedule the appraisal (I already know the value of my property as I an a RE agent qualified to do comparative analysis, and 2 years earlier I bought the property at 50% value), HF told me they decided they will not drop my PMI. When I asked why, they simply said that they have the option not to allow me to drop it. Well, in the mortgage I signed it said I, yes I have the option to jump through their hoops and have my PMI dropped. Now they all of the sudden are randomly deciding that they just won't let me drop it. And why send me the form letter detailing the requirements and procedures for dropping it if they never intended to allow me to drop it in the first pace. SWINDLERS! Long story long, I callled everyone in the company, no return calls, always a we'll have someone call you back, but nobody ever did. I don't deserve to be treated like this. I have an exemplary record with all my lenders. Caveat Emptor - buyer beware! If you have ANY other options than to sign a note with Homecomings, do so, and save yourself a lot of grief. I assure you, sooner or later you will need something, and HF will not help you out. STAY AWAY FROM HOMECOMINGS FINANCIAL - They Are Horrible!!!!!!!!! Michelle miami, FloridaU.S.A.
Entity: Louisville, Kentucky
18, Report #157850
Sep 21 2005
10:42 AM
Homecomings Financial RIPOFF, GET OUT FROM UNDER HOMECOMINGS ASAP!!! Nationwide
TO ALL OF YOU THAT I HAVE SHARED YOUR GRIEF OVER THIS HELLCOMINGS FINANCIAL COMPANY, I CAN REPORT MY ACCOUNT IS PAID IN FULL. IT SOUND GREAT BUT, I HAD TO SELL IT. I REALIZED IT WAS MY ONLY WAY OUT FROM UNDER THEM. PLEASE STOP PUTTING YOURSELVES THRU HELL, AND SELL. I HOPE THAT ALL OF US WILL SEE THE DAY WHEN THIS COMPANY IS BROUGHT TO ITS END. Lisa Alto, GeorgiaU.S.A.
Entity: Nationwide
19, Report #305350
Feb 01 2008
06:25 PM
Homecomings Financial Homecomings should be named Homegone! Waterloo Iowa
Changed jobs in 2005, my pay was cut in half. Homecomings was contacted in 2006 and early in 2007 by me and my wife, in an attempt to refinance and get lower mortgage payment. Thought it was worth a try, after all, I kept getting their monthly mailers stating that I could refinance and get a lower monthly payment...all I had to do was call! YEAH, RIGHT!!! Homecomings refused to refinance our home...the first (and last) home my wife and I owned. They foreclosed, and the house sold at Sheriff's auction in Sept. 2007. Now, 5 months AFTER the house sold, Homecomings sends me a notice that they have obtained insurance on the property (since I cancelled insurance - DUH!). Not only did they insure a house that they sold 5 months ago, they are adding the $2,000.00 premium to the mortgage cost and they expect me to pay it. NOT! Plus, they insured it for forty-thousand dollars more than the mortgage was for! If the place would have burned, they would have instantly made a $40,000 profit!!! This has destroyed our credit rating, and my dream of ever owning a home again. Renting is the way for me now. Thanks, Homecomings, for destroying my dreams and helping me to see how cruel life can be!!! Fred Martinsville, OhioU.S.A.
Entity: Waterloo, Iowa
20, Report #319669
Mar 20 2008
11:48 AM
Homecomings Financial homecomings a thief & liar Dallas Texas
homecomings has tried to take my home three times in the past eight years. had to file ch.13 to save my home .they would lie about my payment. say they didn't get them even though i had canceled checks. didn't chose this company, my loan was sold to them. Brute Berea, KentuckyU.S.A.
Entity: Dallas, Texas
21, Report #285673
Nov 20 2007
10:31 AM
Homecomings Financial Nonresponsive, THEIVING, SCAMING and IRRESPONSIBLE!! Phoenix Arizona
This company has tried over and over again to take my home. They have taken my money several months in a row and still say they are going to foreclose on my home. I have tried several time to contact this company and I get nowhere. No return calls, no statements sent to me. They would not even tell my the amount of any late fees. I would like the information regarding the class action suit against them. Jennifer Birmingham, AlabamaU.S.A.
Entity: Phoenix, Arizona
22, Report #224760
Dec 11 2006
12:13 PM
Homecomings Financial foreclosure scam Ripoff Dallas Texas
I was financed with homecoming financial for my mortgage. They raised my payment from $700 to $1250 a month to cover escrow. I willing paid this to keep my home. They then sent a payment back to me and proceeded to foreclose. I hired an attorney I have now paid him $6000 for him to tell me we need to find a different mortgage holder. This is impossible with the foreclosure. I have now been served by the sheriffs dept. to vacate in 30 days. This is the home I have lived in for 26 years and now house my elderly parents with my father in endstage renal and heart disease. I am more than willing to pay my mortgage and can't understand how they can just take my home with no just cause. Cindy Locke, New YorkU.S.A.
Entity: Dallas, Texas
23, Report #163310
Nov 04 2005
06:50 AM
Homecomings Financial Fair Collection Practices Dallas Texas
I have been a client of Homecomings for about 4 years. During the first three years we paid our second mortgage on time every month. Well the fourth year we ran into several problems my wife had a baby prematurely approximately 9 weeks early. My wife was on bed rest for 5 weeks prior to this. When we took the child home we were not able to have her go to daycare because she had a weak immune system. My wife stayed home and our income was decreased by 50%. I called Homecomings and asked for assistance and received a packet to complete. I completed the packet and sent it back. IT SAT on someone's desk for over 3 months before it was addressed. We then were set up on a repayment plan. We paid for 3 months when then my wife needed surgery and was out of work for 6 weeks. She received disability but only at 60% of her salary. We feel behind again. Homecomings called and I explained the situation and the gentlemen stated it was took far from our due date and to call back in 3 weeks. The next day I receive another call about the delinquency of our loan. I stated my wife was out of work for 6 weeks and when she returned her was fired. She did no want to hear it and she said the calls would continue. I asked for them to stop calling at my place of employment and she stated they would continue to. Legally they are not able to if I ask them not to. She said they would remove the work number only temporarily. This is turning into harassment. I would never recommend this company to anyone. They do not know anything about the Fair Debt Collection Act. Allen raleigh, North CarolinaU.S.A.
Entity: Dallas, Texas
24, Report #179140
Mar 03 2006
01:02 PM
HOMECOMINGS FINANCIAL ripoff DALLAS Texas
DUE TO ILLNESS I GOT BEHIND ON MY MORTGAGE CALL OMECOMINGS SENT ME A WORK OUT PLAN. THE FIRST PERSON MARCUS KANE WHO INITIALLY SET UP THIS PLAN LEFT THE COMPANY I WAS THEN REFERRED TO A YOLANDI BUITETAG WHO SAID SHE WOULD OVERNIGHT ME THIS PACKAGE TO SIGN AND RETURN. ON RECEIPT OF THE PACKAGE I WAS SEND AN INITAL PAYMENT OF $3000. AFTER I DID NOT RECEIVE THE PACKAGE I CALLED HOMECOMINGS THEY USED THERE FEDEX TRACKING SAID THE PACKAGE WOULD BE DELIVERED BY 2/20/06 THE PACAGE NEVER ARRIVED MIND YOU EVERYDAY I CALLED HOMECOMINGS TO MAKE THEM AWARE THAT THE PACKAGE STILL HAD NOT BEEN DELIVERED. I WAS TOLD THEY WOULD FAX ME THE AGREEMENT TO SIGN THEN SEND BACK. I WIRED THE FUNDS ON 2/24/2006 THEY FAXED ME THE PACKAGE 02/27/06.THE PACKAGE THAT WAS FAXED TO ME HAD SOMEELSE NAME HENRY REESE SOMEONE IN LOUISVILLE KY HIS LOAN # HIS REINSTATEMENT INFORMATION BUT THE LAST SHEET WAS MY SIGNATURE PAGE. I STILL HAVE THIS INFORMATION FOR EVIDENCE. I CALLED HOMECOMINGS AGAIN TO TELL THEM OF THERE ERROR HEY SAID I WAS JUST MAKING EXCUSES. WHAT DO I DO? Stacey pleasant grove, AlabamaU.S.A.
Entity: DALLAS, Texas
25, Report #183591
Mar 27 2006
07:50 PM
GMAC - Homecomings Financial ripoff Dallas Texas
I have a fixed rate loan with GMAC on a property owned as an investment. I have insurance and taxes escrowed. I have payments made automatically via my checking account. I didn't notice that the payment amount was different, due to a change in the minimum escrow amount required (unbeknownst to me!) by GMAC. I continued to pay the full PITI that I THOUGHT was due, but was not paying the minimum due to this escrow shortage. The total amounted to about $6 per payment. There was NEVER a time when there were insufficient funds to pay the principal, interest, taxes, and insurance PLUS the mortgage insurance, but GMAC insisted that I was underpaying because the minimum escrow balance was too low (it was hundreds of dollars higher than what was required). So, I have months of delinquencies reported on my credit report, and--here's the REAL kicker--my insurance carrier sent me a check for $100 because GMAC had OVERPAID the insurance. Now, my credit looks horrible, I can't get out of the mortgage insurance (even though the house appraises at $210K and the mortgage balance is only $136K), nor can I pay my OWN taxes and insurance (so I'd NEVER have to deal with this again!). So, I'm just going to refinance. I WILL NEVER, EVER DO BUSINESS WITH GMAC/HOMECOMINGS FINANCIAL EVER, EVER AGAIN. They have LOST a customer for life! Jeri Evergreen, ColoradoU.S.A.
Entity: Dallas, Texas

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