We refinanced our home in 2002 to finish paying the balance of some large medical bills due to a crippling injury I suffered in 1999. The loan was sold to Homecomings and in June we began making payments. The first thing they did was increase our payment 18% over what they had previously given us plus increased the payment to raise the balance of the escrow account. This is after they determined what amount was needed for THEIR loan.
During the next two years we never missed a payment yet they would start calling us wanting to know when the payment was mailed about 7 days before it was due.in 2004 I received a notice from our county tax office that the property taxes had not been paid since 6. I checked my monthly statements and they indicated the payments were made in June and December and 2003. My wife and I called homecomings numerous times and was placed on hold for extended periods of time each call. I was told the payments were made and the county was wrong. Then I was called a liar for stating the taxes were not paid.
I sent a couple of registered-letters-no response - then I sent one that was marked cc: to an attorney on the bottom of the page.
About three months later I received a letter from Homecomings stating the taxes were paid.in one of the monthly statements I had received following the cc: letter I noticed the balance of my escrow account was changed dramatically. It indicated we were now over $ 7000.00 in the minus. It took them another two months before they corrected the amount in the account and confirmed the tax payment.
They had never made the tax payments indicated on the statements until I forced them to do so. Following our tax payment problem they raised our mortgage rate one percent per month. When I contacted them to see why it was changed each of two months I was told "because we can". I did have an adjustable rate loan, my mistake. They continued to raise it one percent per month for 6 months and that is when we refied with another company.
Since then we have been called and received letters from the idiots wanting us to refi with them. The last time I told the moron who called I would ever use them again if they were the last ones on earth.
I strongly advised any one thinking about using Homecomings or GMAC (I have never used GMAC but it is the same company) not to do so. The personnel we have had contact with are uncooperative, liars, do not do what they say and may work on a commission. Maybe the policy is if they can screw you out of some money then they get a percentage. I don't know just a thought. Good luck.
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