Homecomings Financial Let's file a class action suit against this rip-off company. Interest rates hike plan to force homeowners out of their dream homes! Internet

I have a first and a second with Homecomings. Granted that they are not very personable, but the truth is that they have honered their end of the deal thus far without any problems. IMHO you should be upset with your broker and with yourself. You signed the papers and your broker brought you the deal.

When you signed up for an adjustable-rate mortgage at a rock-bottom rate, did you think your payments would go anywhere but UP? This is what happens when people get greedy and try to buy a house they can't afford.

It's not YOUR home. The house belongs to the bank. It always did. You're just trying to skip the part about paying for it.

When you signed up for an adjustable-rate mortgage at a rock-bottom rate, did you think your payments would go anywhere but UP? This is what happens when people get greedy and try to buy a house they can't afford.

It's not YOUR home. The house belongs to the bank. It always did. You're just trying to skip the part about paying for it.

When you signed up for an adjustable-rate mortgage at a rock-bottom rate, did you think your payments would go anywhere but UP? This is what happens when people get greedy and try to buy a house they can't afford.

It's not YOUR home. The house belongs to the bank. It always did. You're just trying to skip the part about paying for it.

The reason the payment is going up is because you have an ARM. Ya, it was great when you bought the house because the payments were low and you got a great house for a small payment. However, you were also told (or should've been told) that the payment will increase over time as the interest rates rise. Nobody expected the interest to go up so much this fast, and there are a lot of people in your shoes that can't pay their mortgage now because their house payments have gone way up.

The idea of an ARM is to get low payments to begin with, and save your money and/or pay off some bills so when the payment increases, you will have the money to pay your mortgage. But of course, nobody did that, they just figured that they have extra money now, and went out and bought cars, boats, etc.

It's really not Homecomings fault here. Yes, they are rude, granted. But they aren't at fault here.

What was the terms of your mortgage before they acquired it? Was it an ARM?