Our mortgage was also sold to Homecomings Financial as so many of others have been. On June 18, 2007 my husband had a regular surgery which in two days landed him in ICU following a second emergency surgery in which he almost died. He was hospitalized at that time for 14 days. He was out of work all summer and finally went back to work middle of September. On September 25th he had to have a third surgery and has been out of work again now ever since. We have no return to work date at this time and he is now on disability from his company. I work full time. Up until this time we have been able to keep up with our mortgage payments.
Homecomings states on their web site that if you are having problems making your payments you can call this number and they will work with you. So I called and waited on hold for 45 mins. before I got someone and I explained the situation. They told me to print the 'workout' sheet and fill out and fax back to them which I did. I put down all our assets and all our liabilities and explained in full detail the situation. I waited to get a call from them.
Finally after a week I called back, again another 45 min. wait on the phone to be told there was nothing they could do for us. I asked them about their stated modification plan where they would work with you to lower your payments if there was a hardship need and I was told by the Customer Service person that he knew nothing about such a policy and so I asked why was this on their website and he said he didn't know, he didn't have anything to do with what was put on their website.
So I stated that rather than work with us during this time of hardship, they would prefer to see our house foreclosed on. He said he was sympathetic to our problems but there was nothing he could do. I asked to speak to a supervisor and was told that they would tell me the same thing. He said, besides you aren't in default yet. So I said, well we will be. I said, if you foreclose on our home and then try to sell it at this point, you will probably not get what we owe on it so why not try to work with us for a few short months until my husband is well and goes back to work and he stated that because of the type of mortgage we had, 'conventional loan' our payments were fixed and that they couldn't change them in any way.
I asked again about what they state on their website about 'modification of payments' and he said again, he knew nothing about such a thing. We can not refinance because we have no equity in the home. At this point, I hung up in disgust.
I am at a loss at this point. I have read many of the other stories on this site about Homecomings Financial and their practices. I plan to research through Consumer Protection and the Better Business Bureau in the state in which they are located to see if anything can be done.