I too have lived the "hellcomings" way of life (in fact I am still living it). We purchased our home a little over 6yrs. Ago. Had no problems what so ever for the first 4 years. We then decided to try to adopt a little one and use our equity in our home. We refinanaced through a broker (mistake#1) who had our house appraised for more than its value. This is partially my fault for being to caught up in the adoption at the time. Anyway Homecomings then took over the loan and we followed through with all scheduled payments.
Here is where it gets good!
Little over a year later we (like everyone else) began to have some financial problems. We made a very tough choice to sell our house before we got behind in payments (fact: we were never late). We called Homecomings and discussed our issue of the balance being higher than homes value and how we planned to make it right by selling our home for highest dollar and repay the remaining balance with a personal loan. They were OK with that idea and even offered a 0% intrest for 6 months to refinance into new home mortgage.
We sell our home in just three weeks for 96% of balance. They proceed to tell us that" since you are so close to the payoff we will just write off our loss" We asked if this would affect our credit. They assured us there would be no affect. They said that it would just be easier for them and us! How could you turn that down when you hear it from a creditor?
We sold our house and bought a new one (downsized) and now 6months after we have a"short sale/forclosure" on our credit report. We called them back and disputed this and they replied" It's too late now!" My credit report dispute was declined! I will pay this balance if need be (like I planned to From the begining). I just want my credit score corrected! Does anybody have any advise (not the employee from homecomings telling me they will put me first!)?
0 comments