We refinanced with Regions Bank in 2003 which was then sold to Homecomings Financial.
Then we claimed bankruptcy in Oct. 2005 (before the laws changed), a couple of months before we needed to refinance to get out of the 2 yr. Arm. Our interest went from 7.2% to a current 12.1% (13% cap!). We have been discharged since May. We claimed everything but the house in our bankruptcy.
Homecomings never sent a statement to us during our bankruptcy although I did continue to pay my mortgage payments under the advice of my lawyer. When I requested a statement, there was a $150 misc. Charge and late fees. I called about that, they said it was their lawyer fees and since I didn't pay that off at once, they were tacking late fees to my partial payments. I understand the lawyer fees but not the rest.
I ran my free credit report, it showed Homecomings in the negative side. I don't understand that since I had been making my payments on time all throughout my bankruptcy. I called, they kept telling my I was current with my payments but it was because I didn't reaffirm my mortgage. I had them send me the paperwork to reaffirm. My lawyer said DO NOT sign them. There is no need to sign them because I had been paying my mortgage all along.
I asked Homecomings to send me a payment history to show I have been paying my payments so when I refinance with another company, I have proof because you know Homecomings won't give me a good reference. It looked like to me that they were putting my payments in an escrow account, which I do not have with them! I later learned it was a suspended account due to the lawyer fees and I was only paying the min. Payments because of my interest being so high, I could not afford any more.
I asked Homecomings to work with me, maybe to lower my interest, refinance me or something. They WILL NOT work with me unless I reaffirm my mortgage. My lawyer & the 2nd lawyer said not to sign them.
What do I do? My one paycheck is my mortgage and the other is the two 2nd mortgages. I have no extra money to pay my taxes, which have increased, because my interst rate keeps going up! If I can't pay my taxes, the city will wage detach me & I won't be able to pay my mortgage payments anyway—so, I'm not paying! I am paying my taxes with that money and I'll worry about the rest later! I am just out of options and I have nowhere to turn!
Why is this company so unwilling to work the the regular people who are just trying to get by? And what is up with paying the $400 fee to have bi-weekly payments direct debit out of my checking account? I never heard of such a thing!!
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