Homeq serviced my adjustable rate mortgage and ended up bullying us out of our home with the use of threats and insufficient payments. We had to sell our home which was deemed "short sale" by Homeq because of a loan modification scam we got involved in. When our house sold, we in fact walked away owing nothing but yet it was a short sale? How?
It all began with my adjustable rate mortgage. Homeq would send me my monthly bill, and I would turn around and pay the amount that was owed. The next month, I would receive a statement from Homeq stating that I was short on my payment for the last month, so they held it and were applying it to this month; which in turn accumulated "late" hits on my credit report making it impossible to refinance. This went on for almost two years before the loan Modification scams began. I was desperate to fix my loan and keep my home.
Every time I tried to contact someone from Homeq, i would get patched through every department before ending up where I started. My wife and I decided that after a vicious battle, via mail and phone, we would sell our home and try to recoop what we were going to lose. When it came time to sell my home, Homeq found fee after fee to charge me, thus rendering my sale a "short sale", even though there was NO outstanding balance after the finalization of the sale.
The effects of this "process" are still being dicovered over 2 years later. My wife and I have began to inquire about purchasing another home but found that having a short sale on our credit report created a 3 year minimum wait on purchasing another home! So even though my home was not technically a short sale, homeq "named" our loan a short sale thus making us ineligible for another loan.
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