I ran into difficulty with mortgage payments to Homecomings Financial earlier this year. Like many other customers, Homecomings Financial was not my choice as a lender. My account was purchased shortly after the closing on the home.
I fell behind one payment back in April 08 due to a loss of income. I immediately wrote a letter explaining my situation of having cash flow problems. I did send a payment for (20) percent of the mortgage which was all I could afford.
I never received a letter directly addressing my situation or offering any type of assistance in restructuring the loan. I did receive collection phone calls twice daily and after 30 days a form letter listing options that could be taken none of which offered a loan restructuring. Phone calls to their customer service department were a waste of time as they offer no solutions.
After realizing Homecomings Financial was not customer friendly and after researching the company's record in past customer service. It was clear there was to be no assistance from Homecomings Financial in helping me reduce my mortgage payments.
I was fortunate to have the mortgage caught up by June. I am no longer delinquent, however, Homecomings Financial continues to send form letters directing me into one of their pre-foreclosure programs. I am convinced they are out of touch with customers. They may also have a pattern of bilking additional late fees out of their customers. I have proof, as they are trying to make me pay a delinquent penalty, when in fact my last payment, which was the entire owed balance, posted prior to penalty date.
A letter sent to Homecoming Financial pointing it out like other past letters was ignored. I am not sure on the outcome of this penalty issue but their past record makes me believe they will continue to include it on my statement. I will not pay it. When I cam across complaint online it was alarming to see the number of customers being abused by this company.
I would welcome contact by any attorney putting together a class action suit against this company. They should not be allowed to do business with the public. Homecoming Financial is abusing their customers when they fall upon difficult times, instead of providing some helpful assistance. That should not be allowed and hopefully a class action law suit will prevail and hit them where they hurt most.
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