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HomEq Servicing / In the top 5 worst companies!

1 United States Review updated:

Homeq has got to rate in the top, 5 worst companies. It is unfortunate that substandard companies are able to operate for so long before they are shut down. I don't understand why Homeq will call you repeatedly every hour on the due date of payment, you due have a grace period.

Va
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Comments

  • El
      26th of Feb, 2007
    0 Votes

    I totally agree with you and I wish that there were something that I could do about this company. They have unprofessional service rep, they offer little help, your payment is applied late, they have the most absolutely worst lockbox operation, they do not like researching and they are so quick to tell you they will foreclose your property. This company is a total nightmare that I am just waiting for the day to refinance.

  • Sc
      15th of Mar, 2007
    0 Votes

    I have to agree with the comments, I to have had several problems with money being placed into wrong accounts and then the company not telling you then in return send you foreclosure papers and in return state this was all our fault because we dealt with the wrong dept. In turn it cost me several thousand dollars in attorney fees and inst. fees from their company. The people are rude and you can never talk to the same person. No one knows whats going on and they use that to their advantage. This company has been the worst I have dealt with. They rob people and no one does anything about it.

  • Ab
      6th of Apr, 2007
    0 Votes

    Simple concept pay on time you won't receive collection activity. Blaming someone else for the consequences of you either being unable or choosing not to make your payment is simply ignorant.

  • Ja
      15th of Apr, 2007
    0 Votes

    I agree with all of you 200% Homeq is awful!!! I hate them with a passion they don't post your payments on time, and they come up with some ridiculous figure for you to pay in order to keep your house. I have been going through the ringer with these people since they've brought out my loan. I can't wait for my day to Refi. They missed placed my payments and I've had to follow up on it numerous amounts of time. I've even had to pay extra money just in sending my payments certified so I would have a signed receipt that its been received, it's ridiculous. But, until something is done about it they will never change. It's not them having to deal with the harassment or heartache... Therefore, WE NEED TO TAKE A STAND!!!

  • Ca
      6th of May, 2007
    0 Votes

    I whole-heartedly agree with the complaints about Homeq.

    And, as for the jerk using "able to pay my bills on time" -- dude so am I. However, they give you a grace period of 16 days because sometimes your paychecks don't fall exactly on the first day of the month. In fact this month, it was the fourth day of the month.

    Plus, they started calling me on Monday - April 30th. My payment wasn't even due until Tuesday May 1st!

    And, god forbid that you should have something happen to you like -- an serious accident, a death of a spouse or a divorce or a serious illness. In most states it is considered an unfair collection practice to contact you by telephone before the end of the grace period, more than once a week, if request all contact be in writing or if you have give them a date the payment will be made. But they don't give a damn -- they just keeping calling you and calling you and calling three and four times a day from different people who if you ask can see the notes in the computer in your earlier call, but don't seem to care.

    So take your little pious attitude and get a clue as to the real world -- they are employing unfair collection practices, and sometimes you can't pay right on the first -- that is the reason they give you grace period.

  • Ma
      7th of May, 2007
    0 Votes

    I am currently in a complete nightmare with this company. I have never had problems like this with any other mortgage company.

    I did not have any escrow with this company but they paid my house taxes before I even had a chance too . They also added forced insurance and were refusing to except my insurance policy. I have been fighting with them for 5 months and they now are agreeing that my insurance is acceptable to them. In the meantime I have been paying off the insurance they paid for in advance plus escrow premiums for next year. Of course, I am also paying insurance premiums to my local agent.

    Now they have come up with some ridiculous new mortgage payment that will put over $6,000.00 in their pocket by the end of the year. They refuse to tell me what this extra amount is for or where it is going.

    They refuse to accept anything less than what they say you owe to them. They refused a payment because I refused to send them money I did not and do not owe them. I tried to be sneaky and Western Union it but they blocked that. At the end of the month they sent someone to my home, lucky for them I was away at the time. This man was seen by my neighbor walking into my fenced in yard and was peeking into my living room windows, curtains open at the time. They also sent someone the next week to take pictures of my home. He was found wandering around my backyard. I had guests inside at the time. Homeq informed me they had the right to do this and would continue to do so periodically. We will not be informed in advance of these visits . We are also charged for these visits. The Peeping Tom fee is $8.50. The photo shoot is $11.50. The charge comes under property preservation. I asked one of the customer service reps why they weren't mowing my grass while they were there too.

    As for Able To Pay My Bills On Time, you must be a HomeQ employee and are taking offense to the comments. If not, why do you care what people say about this company.

  • Ah
      8th of May, 2007
    0 Votes

    We re-financed our home loan almost a year ago. They promptly sold it to this company. We make the payment inside the grace period every month.

    They start calling on the 2nd and don't let up. Not even after you tell them to check their mailbox - the payment's had plenty of time (usually more than 5 days) to get there.

    The callers are rude, unprofessional and belligerent. You tell them that you mailed it on the 4th and they demand to know what prevented it from reaching them by the 1st.

    When our mortgage was sold to them, they sent a "confirmation of debt" letter, that stated on the first page, in bold font, that they were a "collection company" and that any information they collected would be used for that purpose.

    When they call us, they start of telling us that "this is an attempt to collect a debt" in the first breath, but that they "are not a collection company" in the next breath. They state on the phone that they are simply "servicing our loan" yet they treat us like we are derelict.

    The callers contradict themselves (by that I mean lie outright), and the company's own paperwork.
    We are going to have to re-fi or sell to get rid of them.

    And to the person saying that we just pay it on the first... If you can do that every month, good for you. I really hope that you are always able to do that. Not all of us are that fortunate.

  • Ck
      10th of Jun, 2007
    0 Votes

    I have owned my own home since 1988 and never missed a payment.

    I have asthma and a sensitivity to perfumes and chemicals and other toxins. In 2003, my then employer ignored my needs. As a result, I breathed in some toxins sprayed at work. I could not breathe and catch my breath. I was left writhing in pain on the floor for 45 minutes in front of a room full of people before an ambulance was called. By the time I got to the hospital, my stomach had perforated resulting in emergency surgery and a $15,000 bill, which the employer or its insurance company refused to pay. I also lost my job for reporting the situation and tried to obtain worker's compensation to cover the income losses and get help with the bills. As a result of the outstanding hospital bills, I could not get treatment to be able to heal from my surgery properly. My former employee threatened me for reporting them.

    I was deep in debt from the medical bills and credit card debt. At the same time, I became fodder for identity theft. While I was on pain killers. A telemarketer from a software company, Smart Certify billed me for $3,000 for a web design course I did not authorize on an MBNA credit card. Smart Certify and MBNA would not remove the debt and it went on my credit report. Before the surgery, my FICO score was 710.

    To avoid bankruptcy, I attended a seminar with others in Cedar Rapids, sponsored by Financial Rescue Services and the National Consumer Council for debt settlement. My debts were settled for pennies on the dollar. I filed for financial assistance for payment of the hospital bills. I was told the application was approved and the debt was cleared. Yet, the 3 credit reports (Experian, TransUnion and Equifax) and still are reporting the medical as collection accounts, when they are not and the MBNA does not have the fraud disclaimer I requested. I was trying to heal from my surgery and the terminal illness of my mother from colon cancer.

    Household Finance was paid off as part of the settlement, yet I am still hounded and harassed by collectors. My home mortgage was refinanced to clear off the debt by Financial Rescue Services. My mortgage loan was sold in 2005. I was living on income from bonds I had inherited. An ex-friend, which a substance abuse problem broke into my home and stole the bonds. Even though he couldn't cash the bonds, it took 2 months to replace them. I was never notified that they were taking over my loan.

    At the same time, my youngest brother was injured in a fall down some stairs, sustaining a serious brain injury. I explained the situation to Homeq Servicing Corporation, the company who took over my loan. They seemed to understand, yet many things happened. They took advantage of my situation and that's when the hassle began.


    Thanks to Homeq:

    1. They canceled my home owner's insurance (which I had had since 1988) for $500/year and replaced it with a policy for $989/year and told me I couldn't have other insurance. (this is a practice called “forced insurance.

    2. My payments were increased from $500 to $800/mo which violates my mortgage, without legal notification.

    3. Payments have not been applied even though I have shown proof of payment of checks cleared through my bank. So I am being told I am behind and in breach, when I am not. It is now on my credit report and I have been accessed late fees. They have destroyed my credit by reporting late payments, which have been made.

    4. Still continue to charge me for an escrow account, when my interest and taxes are included in my mortgage payments, according to my mortgage deed.

    5. I have been called a deadbeat and profane names by collectors even at 10:00 pm as well as “f—ing ###” and that because I am a low-life deadbeat, I do not deserve to be treated fairly and that they can do as they please and there's nothing I can do about the situation. I even sent Homeq a cease and desist letter and they still call.

    6. An "attorney" called telling me that if I didn't make payment and if I reported them to anyone-I wouldn't have my home and job and I needed to pay in full by July 1st or face foreclosure. He wasn't an attorney but posing as one, which is illegal.


    In my research on predatory lending, I learned that my current mortgage which was financed by Financial Rescue Services through their bank, First Financial Bank NLC in California contains illegal items:

    1. The HUD settlement statement has illegal fees charged by the bank they cannot charge.

    2. I was promised a fixed rate but got an adjustable rate mortgage.

    3. My truth in lending and good faith estimates have 2 different rates, which is illegal.

    4. My interest and taxes were financed as part of the loan and yet appear not to be part of the loan, which is illegal.

    5. Did the loan you got at closing turn out to be very different from what you were promised? Is the rate much higher than the lender led you to expect? Did you think you were getting a fixed rate loan, and end up with a variable rate loan which can only go up from where it started? Were large fees financed into the loan? Were you looking for lower payments only to find that you now have to pay your taxes and insurance on your own, outside of the loan? Yes

    I learned that in 2004, Financial Rescue Services and the National Consumer Council were shut down by the FTC for fraud and failure of full disclosure. (Court Closes National Consumer Council )

    Because I don't have the money, I cannot obtain adequate legal representation. The Iowa Attorney General has referred my case to the Office of the US Currency, who are slow to act even after 2 referrals by the Attorney General's office. People are losing their homes because of this fraud and I don't want to lose mine. I have home repairs that need to be made (leaky faucets and gutter cleaning to clear out trees that have grown) and haven't the money to do so. The stress has been ungodly because of the harassment and red tape. My loan is owned by Wells Fargo who is known for predatory lending practices (Links and Information. )

    I am asking for help in stopping the practices by Homeq and that my credit report is cleared of all negative information, restoring my FICO score and the negation of my mortgage and being paid in full due to fraud. Just because I am lower-income, does not mean I am beneath anyone and deserve to be treated fairly.

    Cynthia J Koehler
    1119B Avenue NW
    CedarRapids, Iowa 52405
    Phone:(319)-364-0385 Cell Phone: (319) 431-7524
    Email: ckoeh5405@aol.com

  • De
      11th of Jun, 2007
    0 Votes

    I had my mortgage with homeq serving for 5 years I pay my payments on time each much, I never had any problem with homeq servicing. God forbid that anything happen to me, and I'm not able to make my payment on time then I will have to seek other option Homeq is only serving the loan so the investor is who so hard and wants there money not homeq. Homeq was paid to do a service for the investor... and if you agree to pay on time then thats what you should do and if your not able to pay b / c something happen sale your home and don't let it get any worst then it can get, even thought that might be the worst thing that you feel that you will have to do, but you always have to save for unexpected reason so if something drastic happen you will be able to take care of it thats life... life is build on changes just be prepare and a lot of mortgagor are not educated on buying a house and what type or loan that THEY agreed on with the loan officer like arm loan which makes payment increase and they blame homeq if payment increase the real estate market is a unpredicted market so b4 you get a house make sure you get educated. B4 you start putting the blame on homeq.

  • An
      5th of Sep, 2007
    0 Votes

    This is in response to comments made by Cynthia J Koehler, and other whiny babies:

    "Thanks to Homeq:

    1. They canceled my home owner's insurance (which I had had since 1988) for $500/year and replaced it with a policy for $989/year and told me I couldn't have other insurance. (this is a practice called “forced insurance."

    Mortgage companies don't cancel insurance, they don't have that ability. Your insurance becomes cancelled when you don't make the payment. Then the company notifies you 30 days after the expiration of your policy, as well as 60 days and 90 days, and then, after all of that, they place their own insurance on your property at approximately 120 days. You had that extended period of time to provide proof of insurance before they placed their own policy. As well as the loan documents you signed included a clause saying that that would happen. If this was something you'd rather not have had happen, then perhaps you should have (a) read the contract before signing it or (b) paid your insurance bill within 120 days of it expiring. Homeq would not refuse to let you get your own insurance, they in fact would reimburse you if you did that, and every single time you call into their offices, they are required to advise you that it would be BETTER FOR YOU if you went ahead and got your own cheaper policy. So yeah, that entirely your fault. Sorry you can't blame "big bad homeq" for that one.

    "2. My payments were increased from $500 to $800/mo which violates my mortgage, without legal notification."

    Of course that's illegal, unless your loan documents included a variable rate. If it was illegal why didn't you obtain legal aid and sue the company? They are subject to federal and state guidelines and regulations. I'm almost 100% positive they just didn't increase your payment for no reason, it was probably to pay for the insurance policy you didn't maintain on your own, or part of an adjustable rate note, which of course you had to have signed in order for them to increase your payment, again not homeq's fault. They don't even originate loans, they merely hold you to the terms of the agreement you signed.

    "3. Payments have not been applied even though I have shown proof of payment of checks cleared through my bank. So I am being told I am behind and in breach, when I am not. It is now on my credit report and I have been accessed late fees. They have destroyed my credit by reporting late payments, which have been made."

    If you sent in the proper proof that these payments were made on time, homeq would be legally responsible for changing your credit report to reflect the true events, obviously you didn't provide them with adequate proof, and if you have then why don't you contact an attourney? And while you're at it advise them that homeq just raised your payments for no reason (unless of course you're lying and just didn't read any of your documents).


    "4. Still continue to charge me for an escrow account, when my interest and taxes are included in my mortgage payments, according to my mortgage deed."

    An escrow account is how your taxes are paid through your mortgage payment. Did you even read your mortgage? You make a payment towards principal and interest and then a payment into an escrow account so that funds will be available for Homeq to use when your taxes become due, if they didn't charge you for an escrow account then you wouldn't have any money to pay your taxes. You can't really be as stupid as you sound. Perhaps you should just actually intelligently investigate how mortgages work before blaming homeq for doing their job simply because you're too stupid to have read the document which outlined possibly the largest financial endeavor of your entire life.

    "5. I have been called a deadbeat and profane names by collectors even at 10:00 pm as well as “f—ing ###” and that because I am a low-life deadbeat, I do not deserve to be treated fairly and that they can do as they please and there's nothing I can do about the situation. I even sent Homeq a cease and desist letter and they still call."

    What the hell is a cease and desist letter? If you had called them and advised them that collectors had been rude with you they could have sent you a LEGALLY acceptable document. Also if you had called in and stated they had been rude to you and given their name to someone, they would be properly disciplined because no mortgage company would endorse it's employees to use profanity and all calls are recorded and often even monitored by quality assurance employees from outside branches. This is also something you could have brought to an attourney.

    "6. An "attorney" called telling me that if I didn't make payment and if I reported them to anyone-I wouldn't have my home and job and I needed to pay in full by July 1st or face foreclosure. He wasn't an attorney but posing as one, which is illegal."

    Are you sure this was someone from homeq and not just someone else attempting to collect payment? Also, if you knew this was illegal then you should have contacted an actual attourney and brought a case against homeq. If anything you have said already was true you'd have quite a case against homeq, even though logically speaking you're probably just someone with bad credit who signed a document they didn't understand and now want to blame their new servicer, whom is in no way responsible for the original terms of the agreement.

    In closing, it's always important to READ YOUR DOCUMENTS. It's not very intelligent to blame homeq for your illiteracy. Stop pretending that they bullied you around. They are subject to rigorous federal guidelines and if they went around breaking them the way you and the others on this page have described, they wouldn't be in business anymore. But since most of you have no idea what you're talking about, no respectful attourney would actually take your case to court because it's all a bunch of whining about a contract you signed.

    Also in regards to all the complaints about collection calls in the grace period: the grace period is a courtesy, it doesn't mean your payment is not late, it simply means that you will not receieve a late charge as long as you make your payment. If you didn't want someone to call you collecting a payment then perhaps you should made your payment by the 1st or not gotten a mortgage. If someone owed you over 100,000 and they had terrible credit (which is how your account was obtained by homeq in the first place, since they only service delinquent and subprime) wouldn't you start calling them if you didn't receive your money? Homeq is a debt collector, you owe them a debt. It's sad that you're upset by being repeatedly reminded to make a payment you signed a legally binding contract promising to pay, but if you had good credit and made your payments on time you wouldn't be with homeq in the first place.

    Any other specific questions regarding mortgages I would be happy to answer, since none of you appear to even know what a frigging escrow account is for. It's so laughable that you Cynthia said that your monthly payment was supposed to include taxes without an escrow payment. That's the most ridiculously stupid and impossible thing ever.

    Thank you for your time.

  • An
      5th of Sep, 2007
    0 Votes

    Oh and Marta Johnson, people taking pictures of your property is part of going into foreclosure and is outlined in your loan documents as something you are responsible for paying for since you quit making your payments and owe a company thousand of dollars. Should have made your payments on time if you didn't want the company to start worrying about the property conditions after months of non-payment.

  • Un
      14th of Sep, 2007
    0 Votes

    As a previous employee of Homeq Servicing I understand everything that I have just read. The fact of the matter is there is no collection company in the world that is run efficently. If you do not want the phone calls starting on the first of the month call in do a future dated check by phone. Now I know you do not agree that people should call you on the second when your payment was due on the first. By Law they can and will continue to. Fact is any finacial institute can do this, not just Homeq. The papers you signed clearly state that. We all need to start reading everything word for word. Most of the people that they deal with should have never even got loans. Let's face it if you can't pay it then don't buy it. I realize that some of the employees at Homeq can be very cruel, although how would you act if all you heard all day long is people lying to you and cursing at you. There are ways to get out of dealing with Homeq until you can get re-financed. Always, always pay on time. If you can'l set up a check by phone or at Homeq.com for a later date. If you ever have problems and can't pay before 30 days call in and get someone to let you talk to a supervisor (try to nicely suggest it) Truth is the last payment you ever make late should be your mortgage. Do whatever you have to and pay your mortgage first no matter who is servicing it. Credit card companies are more apt to work with you because it is an un-secured debt. They can either work with you or eat the cost. I hope some of this info has helped a few of you understand. Remeber these people on the phones didn't make the rules and most of the agents aren't getting paid no where near what they are worth. About the force placed insurance- if you will fax in the decleration page of your policy, legally they have to take the insurance off. As far as escrow goes once they escrow taxes they always will. They do not charge you anything to escrow! It's higher at first becuase you are paying 2 years of taxes at once.

  • Vi
      19th of Sep, 2007
    0 Votes

    To Unknown,

    Unknown you don't know what you are talking about. You know you lied to people too. As far as sending electronic payment by phone, boy is that a joke. Took 14 days then they tell me it was refused. I was told one story the first time another story the second time. Have asked for Supervisor on numerous occasions only to be denied. And they do cause peoples insurance to get cancelled by not paying it. Never get questions answered. And if you got cused out you probably deserved it. Every one at HomEq is TAUGHT to lie. Some just lie nicer than others. So many stories are the same. I read at least 10 other stories that were so close to mine its frightening. You make payments when they tell you to and then they lie on you. HomEq is evil. Hundreds of us agree, with more to come I'm sure

  • Sh
      25th of Sep, 2007
    -1 Votes

    I have a question for the HomEq employees/ex-employees, and I hope one of you can make a suggestion. My parents have gotten periodic calls from HomeEq looking for someone we don't know, have never known and aren't related to. The caller asks for an "Octavia G----". Since my dad's first initial is "O", we've figured that it's a remote/sequence dialed call trying to track this person down. The calls will taper off for a while and then start up again.

    The call originates in Sacramento, and I used US Search to confirm that an Octavia G----- had a cell phone with the 916 area code and my parents seven-digit number. I even went as far as searching for Octavia G-----s in the U.S. and found only two, one in California and one in North Carolina---my parents are in Georgia, though. (If I can do these simple searches online, I don't understand why someone at HomEq can't do the same. NetDetective is pretty helpful for basic information, too.)

    Look, my folks are elderly and are pretty frustrated and upset in trying to make the HomeEq staff understand that they aren't trying to cover up for someone--they just don't know this person. They've been on the "do not call" list for five years, but I'm not sure this is exactly covered by the DNC registry. Is there anything one of you can suggest to reach a second- or third-tier manager to have their number disassociated from this person's file? I would be so grateful for your help.

  • Un
      2nd of Oct, 2007
    0 Votes

    What about Homeq holding your payments into a holding account? Is this illegal?What, so they can gain interest off of it. You later find out that there is two months of mortage sitting in a "holding account", while they are trying to foreclose on your house. NOW, this is illegal!! Wow, now I have to pay attorney's fees, while they have two months of my money in a holding account. Why was this money never applied??What, is this ENRON!!!

  • Ma
      4th of Oct, 2007
    0 Votes

    Anna, you could not be more wrong. Your remarks and the apparent attitude that goes along with them are so typical of the employees of Homeq . I was 30 days behind because of a misapplication of funds by Homeq. I have been told they have the right to come and take pictures and send what I call a Peeping Tom to my home whenever you are 30 days late. Don't assume what you apparently don't know. Of course, no one who works there is truthful anyway.

  • Up
      9th of Oct, 2007
    0 Votes

    HomeEq says that they are only the "servicer" of the loan owned by Barclad, a European company, BUT Barclad is the mother company of HomeEq. All this nonsense about not being able to "work with the consumer" is a crock. They are predatory, ignorant, and do not care about customer service. Our escrow has been depleted by HomeEq after they bought out our mortgage and thus allowing them to increase our payment. We have turned in a complaint with Consumer Affairs and are working with a HUD counselor but so far nothing but a run around. They don't post payments in an appropriate time manner and report negatives to credit bureau's. They need to be put out of business!

  • Bo
      15th of Oct, 2007
    0 Votes

    I agree with most of you... I am a RE Broker and my"friend" refiled my home on a stated income loan 2 years ago and said hey when the thing gets ready to adjust we'll refit again but get you a better rate.

    Well here we are October 2007 no loan programs for stated income borrowers because these freaking' Lenders cooked the books a got loans approved that should never have been done.
    HomEq calls me almost everyday and says within the first 30 seconds" Why don't you just move out and let us have the house back?

    Then I ask them if thats what they really want? Then we go from there.

    They totally lie to customers and you almost have to have a law degree to handle them. They are so aggressive and have no compassion whatsoever.

    I am considering filing a legal action against them or at least having them investigated for fraud and un-ethical collection practices.

    I feel for all of you who are suffering because of this company and please know that these people always get theirs in the end... somehow some way this horrible treatment will be visited on them in return. Not much of a consolation but I guess after you get kicked in the teeth enough times its something at least...

  • Da
      17th of Oct, 2007
    0 Votes

    HomEq Servicing is the worst company I have ever dealt with. Home123 sold my mortgage to them and I can't escape. They have called me twice in October before the 16th, which my agreement
    clearly says is the end of the grace period. Is there something we can collectively do to get rid of this company?

  • St
      25th of Oct, 2007
    0 Votes

    Pay your debts, and listen to Anna... You all claim to be either planning on suing HomeEq, or wanting to start a coalition. Fact of the matter is you'll do neither. If you can't take the time to take care of your family's home and send your mortgage payment in on time, how are you going to do all that you preach?

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