My story with Homecomings Financial started in June. After being a loyal customer for six years, I became very ill and was diagnosed with Multiple Sclerosis. My employer terminated me as I had become too ill to work and had lost most of my vision. My wife was a stay at home mom for over 10 years caring for our 4 children ages 11,9, 8, and 3. We had lost all of our income within a period of 1 month. I kept in constant contact with Homecomings, informing them of our situation, as I was waiting for a decision from Social Security Disability.
My wife was able to gain employment. I was asked to fill out numerous 'workout packages" that were supposed to help people in my situation. The customer service representatives were never able to offer me any information or update anything on my account. They were useless. Apparantly, no records are kept as you speak with each different customer service representative.
By August Homecomings had started forclosure proceedings. At this point, I was introduced to the HOPE project. The purpose of Homecomings' HOPE project is to help customers in need by re-modifying their loans. This is just another marketing technique used by GMAC, the owner of Homecomings Financial, GMC cars and trucks, etc., to help put a kinder face on the company.
When everything was done with the meetings between myself and the representative from Homecomings Financial/HOPE, the following had occured: The representative arrived at my home with a realtor from Exit Realty, who informed me that my home was worth less than what was owed. I was offered $2,000.00 to leave, while the rates for homes in my area were $200,000.00, and I was left with the impression that the Philadelphia Sheriff was coming to my home to throw my family out in the street.
I was informed numerous times, the last being on August 27, by the loss mitigation department, that I did not qualify for any of Homecomings Financial special programs because I was "disabled." Homecomings received a judgement against me in court, and the Sheriff's sale was set. The sale price was $168,910.26. However, I received a payoff statement from Homecomings on August 31, and the amount I owe is $185,526.18.
Homecomings Financial has done nothing but discriminate against me due to my disability and now they gave me a higher payoff amount. The only thing my family has ever asked for was to have our loan re-modified with a lower interest rate and longer term. From the very beginning, Homecomings Financial was only interested in one thing, foreclosing on my home.
They never tried to help us, they lied to us, and dumped my kids on the curb. The thing about GMAC, is that while they are foreclosing on thousands of families in the United States, a media bulletin was recently released stating that GMAC and Habitat for Humanity have teamed up to build homes for low income people in Philadelphia, etc., how ironic.
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