Complaint Rating:

Company information:
United States
www.homecomings.com

10+ years as a customer until 2004 when I began to have problems (I lost my job). They were nice to help (help??? you don't have a job and what do they do: don't stop the late fees, don't stop the monthly inspections fee, and others... on top, they add the catch up payments, so you ending paying about 50% extra a month... remember, no job).

Then, I when back to full time at the end of 2006, but I was behind payments so now, no more negotiations, even though I have a good salary and I am willing to abide to their requirements. The problem is that they refuse to negotiate. In the meantime, they tell you that they are "checking" the requirements when in reality they were planning the foreclosure. As a result, I have a foreclosure date of December 4, 2007 given to the North Texas Housing Coalition on November 9 (Christmas present!).

I don't understand why they don't want to negotiate (well, kind of, the balance of the house is $90K, the market value is $150K, 11 years at 10% ARM, they already got the money for this house, so they don't care about foreclosure, makes sense). Yes, my credit report shows $0 balance and probably it will screw up my credit as soon as they insert the "foreclosure" on it.

I wish they could be more open to talk, at least now that I have a full time. They could answer the calls and tell you and don't play the game that they are "checking" when in reality they are proceeding with the foreclosure. Bad deal GMAC/Homecomings Financial. Not for Texans. No more.