My original mortage was sold to Homecomings Financial two years ago. Although I did agree to a two year fixed rate with the third year changing to an adjustable, at the time it was my only option inorder to purchase my home. I was led to believe that at the third year I could re-finance and get back into an adjustable rate.
Because of financial issues, refinancing has been a no go. Apparently, making payments on time for two years doesn't count for anything.
Thinking my current mortgae company would be willing to help, seeing as they are getting my money, I talked to the customer service folks at the company. No, Homecomings Financial will not help.in order to change my mortage from fixed to adjustable, someone in their office had to change the information on my account. This is done with out any conversation with me. Like magic my rate is now ten percent. Like magic my rate is higher than I can afford. Yet the company can not work with me to give me a fixed rate unless I refinance. Yet I was turned down for refinancing.
Homecomings does have a paymnet plan, yet I do not qualify.in order to qualify I must become delinquent in my payments, destroying my credit and most likely causing me to loose my home in the end anyway. I don't understand why this company would want to go through all of the trouble and expense to foreclose on my home or end up loosing me as a customer. Why are these big companies helping people to loose their homes and ultimately increasing the down fall of the economic balance?
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