I bought my house on December 27, with a reputable mortgage company. Two weeks later, I received a letter stating that Homecomings Financial bought my loan. After a year of trying, I closed on a refinance out of my loan with Homecomings on May 26. A week later, I found out that the pay-off amount was short by $1,563.33. We sent the additional money on June 2.
On June 5, I was served with foreclosure documents. I came to find out that I overpaid in excess of $12,000. (Law suite #1) When I tried to call and find out why there was such a difference between the foreclosure documents I was served with and the payoff statement that was sent to the title company, I was placed on hold for 45 minutes and was then transferred to Victoria Wilson's voice mail. Please note that Vic has not returned the last 7 messages left to try and find out why my account had not been closed.
My problems originally started when I had surgery in June. I went on a repayment plan. I made all my payments only to find out that every last payment was reported to the credit bureaus as being late. (Law suit #2) My credit score dropped to 463. During the process of trying to fix the score by disputing this information with the credit bureaus directly, I discovered that Homecomings Financial NEVER makes mistakes and they will NEVER correct information especially if it is discovered after 90 days. The corrections obviously never happened.
During the process of refinancing, I received a transaction history from Homecomings showing all activity on my account since it began. This is where law suit #3 comes in.in each of the instances where my interest rate was raised, I was given a new amount to pay each month.
In July of my payment was $1279 a month. When the payment was posted to my account, they only applied $1119. The amount of the original payment. Every six months my payment would go up and every single payment was posted incorrectly. Since they were only applying $1119 to my account, the payment I made in the amount of $1279 was reported late to the credit bureau, they showed that payment as not being made and then showed it on my statement as being unpaid.
When the FINAL pay-off statement was sent, over $19,000 was shown as being unpaid. That amount included all of the higher interest rates which were paid ON TIME. All of the high interest was paid twice once I closed.
Watch your backs with this company. Their name does them no justice. They should be called "don't let your own front door hit you on the backside on your way out".
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