The following is my story.
I have a piece of rental property located in Gretna, La. Which is 1 of over 20. My original loan was with a company called Option One. I have been paying the loan for some time. On or around November 20 I was contacted by a tele marketer from a company called HomeEq out of California that I was late on my payments. I stated I was not and my loan on the property in question was not with them and hung up the phone. I do have another piece of rental property in Gretna, and that loan is with HomeEq, and I haven't had any problems with it, nor have they had any problems reaching me on it. I thought they had reached the wrong person. I had not received any notification in the mail of any change in companies. All of my mail goes to one address. I got a couple of more phone calls from the company, so I became concerned.
After finding out that this company HomeEq did in fact bought my loan, and the previous company never notified me.By this time I was late with this company, and no one knows where the payments to the other company went. HomeEq allowed the loan to become so late that they were going to foreclose on the loan. I spoke to a representative and they told me that if I paid $1,500.00 dollars all late fees would be waved and that this would not affect my credit report, How ever I am now showing 90 days late in my credit report, as well as late payments. To add more trouble to the pot, on December 20 I was contacted by HomeEg again and was told that they had not received any payment from from. They said they never got the $1,500.00 dollars. I was then told that if I make a money draft out of my account to them that it would be taken care of and they would straiten every thing in my credit bureau. So I did. My credit has been ruined by this company and now they won't do a thing to rectify there mistakes.
I finally got a woman out of Charlotte, NC named Julie Vivilaqua she assured me that she would handle the problem and get every thing cleared up. I faxed information to her 4 times and she still claims she has not received the information. That was on January 5. I have now spent thousands of dollars and have an attorney working with me, and still this company will not do a thing to rectify the wrong that was done. I then spoke to a Bill Balester and he said he would do the same thing for me, now he point blank to me to get lost, and there isn't a thing I can do them.
Because of this company I have come to a screeching halt in my business, and am having trouble finding lenders because of what HomeEg placed in my credit bureau. It is my firm believe that this company was out to take my property. More important than that I can just imagine how many other people they are doing this to across the country not just here in Louisiana. They could be forcing hundreds, maybe thousands of people into foreclosure and taking there homes for profit.
You do the math. I have one house with HomeEq that has very little equity in it. My other house that they acquired by buying the loan has a great deal of equity in it. Do the math if they repo just 10 a month, I would say that's a good pay day for them.
I can only do so much with my resources, and legal council. As I said in the beginning of this letter, this is a critical matter as needs your office's attention NOW. The matter is just not limited to here in La, but on a national level. I have done some research and found a consumer web page concerning this matter it is as follows. Usacomplaints.com. This matter is so critical in a number of states. California, North Carolina, Fort Wayne Indiana.
If the doesn't qualify as a consumer scam, fraud, unconscionable practices, what ever you want to call it. I don't know what is. We are talking Millions of dollars, and thousands of people who have lost there homes, or about to lose them. Their lives, my live has been turned upside down in the name of profit.
Sincerely,
Donald A. G
Robert C.B
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