We refinanced our home with Homecomings Financial 8/05. We thought that they were going to be a great reliable company, since we heard good things about GMAC financial. That is when our nightmare began. Our very first payment which we made on time, was misapplied to someone elses account, and reported 30 days late to our credit bureau.
Several months later after having to take a leave from work to take care of my Father, who had parotid gland cancer, and my father-in-law who has Lou Gherig's disease, we fell on hard financial times, and set up a repayment plan with Homecomings. That was 10/06, we set up the repayment plan on auto-draft to come out on the 30th of every month, which it did until May of when a customer service person there informed me that due to their new computer system and new account numbers at Homecomings somehow CANCELLED EVERYONE'S REPAYMENT PLANS! How could this happen to the people who are trying to make things right with them, and needed that security the most.
The worst part for us is that on May 30th the payment was deducted from our bank account, but never posted to our Homecomings account. I have since then, called them 3 times a week since June 1st, faxed our bank documentation, showing that in fact they did receive our funds, and THEY STILL HAVE NOT CREDITED our account, and have been reporting us late.
We are in the process of deciding whether or not to file for bankruptcy—this has greatly affected our home life, our work life, and basically everything we ever believed about the great American dream of home ownership. My husband has since developed high blood pressure, and the constant nagging to them on my behalf to credit the payment to our account, has caused tremendous stress, and taken time away from my 3 year old son, who doesn't understand, that instead of reading a book to him, I have to spend 3 hours a week on the phone with Homecomings to try to resolve this issue.
This has been going on for 3 MONTHS! This is also not the first time they have misapplied a payment — it is the THIRD! I am at my wits end on what to do, and we are seriously considering hiring an attorney to take care of this matter.
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