Homecomings Financial forced my account into
delinquency by blocking access to their mandatory
payment system, delaying or reversing timely loan
payments, applying payments retroactively to cover
those they'd delayed or reversed and refusing payments
that would cure the default . This company's misdeeds
have put me at risk of foreclosure but a calculated series
of roadblocks has been erected to prevent me from recourse.

They continually send letters requesting that I call to discuss
my options, schedule meetings or fax information but when I do,
I'm referred to someone who's on vacation, my call is dropped
during transfer, appointments are no longer available or my faxes
have not been received. This vicious cycle creates a paper trail
for the company while making me appear unresponsive and is
obviously intended to establish a bogus loss mitigation history.

This company is publicly committed to preventing foreclosure
and was istrumental in founding the HOPE Foundation but their
true objective is to defraud America without restraint, which
they accomplish by misapplying funds, sabotaging communication
and manipulating records. Homecomings Financial is operating in
violation of the Truth In Lending Law, the Fair Debt Collections Act,
a number of Arizona Statutes and their own Principles and Practices.

Back in 2006 I refinanced my house located in IL. The lender was Decision One Mortgage (now out of business) Subsequently the mortgage was sold to Homecomings Financial (GMAC) who now services the loan.

My question arose because when I tried to refinance recently I realized there was a 5% prepayment penalty on my current ARM loan for a period of 3 years. As I delved into this issue more, I discovered the Illinois interest Act that states a prepayment penalty cannot be charged on a mortgage that has an interest rate over 8% (mine is 8.59%). And as of July ’03 that included ARM loans.

If in fact the prepayment is not allowed, I will be able to refinance my house and increase my chance of affording the payments (I am not currently in default, however it is getting harder to afford). My mortgage broker can get me into a high 5% interest rate if it weren’t for this prepayment penalty.

I have contacted Homecomings by phone, fax (at their request I faxed the test of the Illinois Interest Act to their attention since they claim to never have heard of it) and email and they are not communicating back with me. I have contacted the OBRE in IL but it takes them 45 days to respond. HELP!

My problems with Homecomings has been ongoing since 1/07 when I fell one payment behind and attempted to make arrangements with them to catch up on the payment. I spoke with numerous reps and faxed over my financial information several times. They all said they never received the information. When I did get a hold of someone I believed would help me, I faxed over the info again and was told someone would contact me within 24-48 hours. Since no one contacted me, I contacted them again but got the same answer - they never received the fax and they could not discuss the account until they received it.

I continued to make my payments each month and sent in extra when I could in an attempt to catch up. In 05/07 I received a letter stating I was in default and owed 2 payments. I contacted Homecomings and was told they could not talk to me until my payments were current.

On 8/2/07 I attempted to make my payment by phone and the rep refused to accept the payment. She said I had to pay $7500 + or they wouldn't accept anything from me. I told her I wasn't prepared to make that payment and she hung up on me.

On 8/6/07 I contacted them again and the rep agreed to accept $2600 by 8/24/07. On 8/24/07 I tried to make the payment online but the account was locked. I called them and was informed they could not accept my payment and was transferred to a different department. Someone picked up the phone and blurted 'We're closed' and hung up. I called back and was told there was nothing they could do and I had to speak with loss mitigation. I called loss mitigation and no one answered the phone. I called customer service again and was transferred to loss mitigation again, someone picked up the phone then hung it up. I made several calls to them from 8/24/07 thru 8/28/07 to make the payment and find out why it was being refused but no one could help me and no one would accept the payment.

On 8/29/07 I finally got a hold of someone that I thought was going to help me. She said I had to fill out a financial statement and fax it back to her, which I did. After discussing the matter she informed me that I would have to pay $2700 that day via Western Union and $2465 + each month (in excess of $600/mo over my normal payment). I sent the payment via Western Union as instructed and they acknowledged receipt. I believed the matter was now going to be resolved.

On 9/8/07 I got a call from a real estate agent asking if I wanted to sell my house before the foreclosure went through and was informed Homecomings filed a NOD on 9/5/07. I called Homecomings and they said they did file the NOD but it was on hold so long as the payments were made.

I sent numerous letters confirming phone conversations and requesting an accounting. I finally received an account history print-out and after reviewing it (totally confusing), I wrote to them requesting explanations of charges on the accounting, especially 'unapplied funds' and why only the regular payment was being credited and not the $600+ being sent each month, along with disputes regarding late charges and other charges when the payment was made and posted on time. They have yet to fully respond to my letters from 10/2/07 and thereafter or provide any explanations of the charges. I also noticed they did not credit my 05/07 payment and I sent them a letter with copies of all the payments I made.

To make a long story shorter, I made all payments as agreed and my payments were current... that is, until they returned my 02/08 payment and a letter stating the repayment plan was canceled as the payment received does not represent the correct amount as specified in the repayment agreement. Today I received a letter from them informing me they can no longer accept monthly payments and the entire balance of the loan is due and the full payoff will need to be remitted. I contacted them and they said disregard the letter, it was computer generated and my account is current. I would just need to make my February payment (which is now late) along with $1074 in late charges along with the March payment and the April payment is due by 4/10/08 and everything will be fine. My payments were due on the 29th of each month and they said since they canceled the repayment plan the payment is due on the 1st of each month so now my March payment is late.

I have received contradictory information from them throughout and am at my wits ends trying to deal with them. They made it impossible for me to refi, my credit score has dropped substantially because of this mess and they continue to charge me late fees even though my payments have been made on time and 'other' charges (without explanation) each month in excess of $700.

The real kicker is they sent me a letter in 11/07 informing me my payment would increase $100 per month because of a negative escrow balance. My statements say I owe one amount ($290 more) and the online account on the website says I owe a different amount ($392 more). In 01/08 they increased the interest from 6.1% to 7.6% but won't clarify what payment amount I am supposed to make - the one stated in the letter, the one on the statement or the one on the website. I was told if I made the 02/07 payment via Western Union or mail it would be the lowest amount but if I paid it on the website it would be the highest amount. Also, according to the website, there are no late charges being assessed but on the statements they are charging over $800 for late charges even though I've made my payments on time each month.

I sent ccs of all letters as well as letters directly addressed to Cyncoya Dillingham, Voice of the Customer, Homecomings Financial (BBB said to contact her to resolve disputes) but have not received one written response from her since I started writing letters in August 07.

HELP!!! Anyone that knows of a class action suit I can get in on or has suggestions on a way to resolve this nightmare, I'd really appreciate the info. Even though I was current before they returned the payment, I don't feel like they're ever going to quit manipulating the payments and threating me with foreclosure as long as my mortgage is with them.

I am taking emails from people who would like to pursue a class action law suit against Homecomings Financial in Minnesota. Please email me at [email protected] if you are interested and please share with me your story. Let's put a stop to these predatory lending practices once and for all.
Thanks.

I live in North Carolina, and have a home through homecomings. On November 31, 07 homecomings sent back my October and November payments. The very next day an officer showed up at my house with foreclosure papers. I had never recieved anything stating that there was any problem with my account. So after getting the foreclosure papers I called homecomings they said that they never recieved payment in the months of August and September, I informed them that there must be a mistake because I have reciepts from the wire transfers where the money was sent, they claimed that they never got any money, when i asked to speak to someone higher on the chain I was "accidently" hung up on. After many more similar calls to them, i gave up talking to them. On Jan 03, 08 we went to court for the foreclosure hearing and after showing all our reciepts of payment the clerk continued the case til Feb. so we could try to sort everything out. I have called many lawyers and no one seems to want to help us. In a few days we time will be up and homecomings will take our house. I work hard I pay my bills and I'm getting screwed, if anyone has any advice please email me.