Mortgage lender / Mishandling account funds
From: Comikia Price
3936 N. 40th Street
Milwaukee, WI 53216
Re: 3606 N. 38th Street, Milwaukee, WI 53216
Account number: [protected]
I have two accounts with Homecoming Financial and was in an ARM loan once I refi both of my home with them. On July 16, 2008 I received a letter stating a rate change and I inquired about a loan modification, due to the value of my home being to low at this time. The loan modification was approved for both accounts. One of the accounts is my primary resident which was approved August 12, 2008 and the other account was approved July 25th, 2008 for my investment property. Now both documents we sent in the month of August of 2008 and both of them were signed and notarized by a notarize that Homecomings Financial sent to my resident. Enclosed were instructions and payment arrangements that were to be made in order for the loan modification to be completed. For account [protected], which is my investment property, $710.00 was the amount to be made by August 31, 2008. For account [protected], which is my resident, $46.06 was to be paid in order for that loan modification to be approved at the same time.
Now I sent both loan modification packet to Homecomings Financial in the return envelope that they sent to me. Both documents and cashier checks were enclosed. That was the instructions. Later to find out that Homecomings Financial made a human error. A person applied both of the cashier checks to account [protected], which is the account that is current and the loan modification is still approved. Now by appling both payments to one account, made my other loan modification agreement go into default. That is why I am writing you. This was not my fault and I am later finding out when I pulled my credit. I am currently 2 months late on my credit and I been making payments on time. I am not understanding what happen.
I did receive a letter stating that my investment property payment is going up, at that time I gave Homecoming Financial a call and I asks the rep. what was the letter in regards to, because I have a loan modification agreement and my payment were to stay at $710.00 for at least 5 years. The rep. reviewed information that was in the system and I faxed to him my copy of my loan modifications for both loans and the two stubs for the cashier checks. At that time the rep stated that I will need to give it sometime for the system to be update my account information. Now Homecomings Financial records conversations when you call. All of this should be documented and recorded. The rep. ask that I continue to make the payment that was agree and that I did. The next month I got a letter and called again and this rep. told me to disregard the letters, after sending the information again and that rep sent notes at that time. So that I did. I also ask the rep if they were reporting any negative information to my credit report and at that time the rep. stated NO.
Later finding out that not only my first payment was improperly routed, I no long have a modification loan because of this. My whole account is structured different than what I agreed and expected. Now at that at that time I brought MY ACCOUNT CURRENT with the information that they have in the system. Which I am not sure about. I know that I paid $1, 255.00 more than what I expected. That is because of the mistake that was made on Homecoming financial behalf. Because of that mistake the amount of $710 per month monthly mortgage was not a suitable amount because of the system change to keep my account current. Of course when a mistake was made to cause the problem. That is why I was getting those letters in the past.
I contact there office many of times and tried to resolve the problem but it not resolved. I need a letter stating that I was never late so that my credit can be corrected. I was never late. My February payment is made but because of the mistake that was done when the office received my express mail with the loan modification agreements, signed, with cashier checks for both loan, were not entered in the computer right. This has cause a late comment to be on my credit and my score to go down. NEGATIVE! That I will not except. I did what was needed and asked of me. I clearly understand that any late payments on a mortgage will harm me for about two years. After there mistake, I brought the account current and now they will not provide me documentation to correct the error with the creditor due to there error. I am not looking over what happen. They need to review my account and see what happen and help me. I am the customer.
I am sending you this information and would like to speak with someone in regards to this matter. I am in great need to get my credit score back to where it was and in great need of a letter for my record that I was never late. It was totally Homecomings Financial mistake and I am just asking for a letter to correct my credit and for them to clear my late comments on my credit. I am still working with them putting me back in an modification loan all over again. Which is not the answer to problem. That is what they can do for me now. But I know it was not my fault the first time, why my loan modification went into default . After correcting my account I am now asking for a letter for my credit should. This is not fair I should not take the hit for this it was totally out of my hands.
Please advise me on how to take care of this manner, with my credit. I will be willing to get a lawyer. This is very frightening to know that this can happen to people. And to have a company that has multiple departments and none that can help me. I was bounded around all day and I feel like it is not hope with calling the company any more. I care to change my lenders once I am able. Also the rep were not helpful. I had to dig deep to find out the problem, I spoke with over 20 of them and only one of them found the problem. That is because he wanted to help me and it was obvious of what happen. Matter of fact that rep. was the one that told me what happen to my account and why my loan modification was default. He told me that they stated that they did not get any money to complete the agreement. I already called my bank to verify the cashing of the funds and I told the rep that it was cashed by Homecomings financial on August 25, 2008, both checks. At that time that rep. look at my other account, which is my residents, and the rep found my funds. It was two cashier check that was applied to that account which was in the amount of $756.06, which only needed 46.06 to complete that agreement for that loan modification. That is what happen to my account it was mismanaged and it was a human error on Homecomings Financial. The problem is Homecoming Financial clearing up my credit in the timely manner. I am trying to apply for a loan and this information has cause my situation hardship. It is causing me not to get anything with my credit at this time and I projected to be able to make the next move, due to knowing I am paying all my bills on time. It isn’t my fault. I need help when dealing with a company over the phone that has not help me at all at this time.
Please contact me at [protected] or by e-mail [protected]@yahoo.com. I brought my account current because I always keep my agreements to my best ability. I do understand that I have a loan with them on my homes so I wanted my account to be a good status at all time. Now I know that I paid $1, 255.00 more than what I expected and what I signed for and what I agreed to but I need my mortgage together now do that is why I paid the $1, 255.00 to Homecomings Financial to bring it current as of February 6, 2009. Please help me to obtain the credit/ credit score that I worked hard for.
I was never late before the loan modification and I plan to not be late ever. The Sept. of 2008 payment is an issue because of the default loan. So they did not grant me the agreement to pay on Oct 1, 2008 for the first payment on the loan modification because the person that entered my payment done it incorrect and mess up big for me.
Please respond ASAP if possible!