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HomeComings Financial / Unfair Lending & Servicing Practices

3339 Bentwood DriveKodak, TN, United States Review updated:
5
We refinanced our home of 16 years in 2004 with Homecomings Financial. We were advised to do an adjustable rate mortgage and the interest rate was 8.5%. This was because we were self-employed and they went on stated income, rather than income verification. Our interest started at 8/5% and is now 13.625%!!! My husband had cancer surgery in Mar., 2005 and is now on disability. I requested loan modification to reduce interest rate April, 2006 and they always say that they have not received it. Submitted several times and even talked to their credit counselor contractor, which means they did receive request. Have paid over $32,000 interest 2007 to date, not to mention thousands in fees & additional charges. Need help!! Congressman & Senators have been no help at all!!
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Mi
  26th of Mar, 2008
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I have had Homecomings for about 5 years now. When I first had them they were not bad and would actually provide customer service. For the last two years or so, after their sale to GMAC, this has gone downhill in a bad way. They also have become more aggressive with their collections and now charge a variety of fees they never did before. Recently in March, 2008, I just got notified of a $95.00 fee they SUPPOSABLY put on my account some 4 months ago without my knowledge. This fee was never told to me prior and never showed up on my statement. I was less than two full months behind (do to job loss), working with them to come current (and have been current for two months now), and this is how they treat you. I swear they have outsourced their tele-services as you can hardly ever get a clear English speaking representative (no disrespect intended but one must be able to understand who they are talking with). Anyways, when I contested this fee, they never can find the department that is responsible. I am currently filing complaints with the Florida consumer complaints and suing for my money back in small claims.

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