Homecomings Financial
MY HOUSE IS WORTHLESS - according to Homecomings PO Box 205 Waterloo, Iowa 50704 - Homecomings.com nationwide

I'm alittle bit different - my accounts are all current and my equity line balance is not even close to the amount of the line - however on 7/1/08 Homecomings decided that my homes value has decreased and therefore they are closing my line of credit. I just applied for this line on 10/17/07 - I paid over $2800 in closing costs - and today (7/1/08) not even 1 year later they are closing my line - no advanced warning - no nothing - just it is necessary to suspend your line of credit - if you want to disbute this PAY for another appriasal (from their 2 companies) and we will let you know - the bad part of this - my 1st mortgage is with GMAC (Homecomings PARENT COMPANY) - it is also current - will they be calling it due now too!

The government says that it is trying to help the people - but the only ones being helped is the BANKS! How can they do this to us - are you telling me that in 20 years my house will still be WORTHLESS? Are you telling me that the economy is never going up and that my house will never be worth anything? I pulled my house up on one of those websites - what is my house worth - adding the total of the 1st and the total of my equity line my house still is worth more NOW - so who decided that my house is not worth my line? Their new AVM - thats an automated valuation method - decided - NO ONE looked at my account - no one looked at my checks - no one looked at my payments - just a COMPUTER decided to close my account.

I went looking for a site to vent on - I hope I hear from someone as what to do if anything about this - I have emailed Homecomings as well as GMAC.

Please someone help me! This is so unfair -

Barb
Groveland, Florida
U.S.A.

Company: Homecomings Financial
Country: USA
State: Nationwide
Address: PO Box 205 Waterloo, Iowa 50704-0205
Phone: 8662625363

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