HomEq ServicingIn the top 5 worst companies!

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.

Responses

  • El
    Elsie Ambroise Feb 26, 2007
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    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.

    0 Votes
  • Sc
    Scott vanMeter Mar 15, 2007
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    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.

    0 Votes
  • Ab
    Able to pay my bills on time Apr 06, 2007
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    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.

    0 Votes
  • Ja
    Jay Apr 15, 2007
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    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!!!

    0 Votes
  • Ca
    Casey May 06, 2007
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    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.

    0 Votes
  • Ma
    Marta Johnson May 07, 2007
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    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.

    0 Votes
  • Ah
    A. H. May 08, 2007
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    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.

    0 Votes
  • Ck
    Ckoeh23 Jun 10, 2007
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    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: [email protected]

    0 Votes
  • De
    denise smith Jun 11, 2007
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    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.

    0 Votes
  • An
    Anonymous Sep 05, 2007

    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.

    0 Votes
  • An
    Anonymous Sep 05, 2007

    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.

    0 Votes
  • Un
    Unknown Sep 14, 2007
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    a verified customer
    Verified customer

    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.

    0 Votes
  • Vi
    Vicki Sitton Sep 19, 2007
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    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

    0 Votes
  • Sh
    Sharon Sep 25, 2007
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    a verified customer
    Verified customer

    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.

    -1 Votes
  • Un
    unknown Oct 02, 2007
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    a verified customer
    Verified customer

    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!!!

    0 Votes
  • Ma
    Marta Johnson Oct 04, 2007
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    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.

    0 Votes
  • Up
    Upset in Alabama Oct 09, 2007
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    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!

    0 Votes
  • Bo
    Bob R Oct 15, 2007
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    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...

    0 Votes
  • Da
    Daniel Brown Oct 17, 2007
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    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?

    0 Votes
  • St
    steve Oct 25, 2007

    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?

    0 Votes
  • Ke
    Kelly Berrigan Nov 03, 2007
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    a verified customer
    Verified customer

    I, too have a mortgage through Homeq, and I have never in my life had so many issues. This is not my first mortgage---I have perfect credit with all my mortgages, except for Homeq! I had no choice on having a mortgage with this company. Like with most mortgage companies, ours was sold from Wilmington Finance (who is now part of legal action for misrepresenting funds on closing costs).

    We are human beings. We all make mistakes, and we all have problems due to the economy. Layoff's in America are causing many people, especially those over 35 unable to find work that is at the same compensation as to what they had before. Some jobs, like my husband's (he is a bus driver) are affected by freak weather that we have been experiencing for several years. We get sick, and get huge bills causing us to have problems with our finances, and then fall trap into using credit cards to pay our other bills--like our mortgage when there is no income coming. This is something the mortgage companies need to take into account and, instead of immediately trying to take more money from us (when we obviously don't have enough as it is), and instead, work with us in order to pay our debts, so we get back on our feet again. Let's face it--foreclosure is no good for anyone. The company loses out, the person that owns the house loses everything, etc. Isn't it much more logical to work with the client than to condemn them, harass them and finally, take the property that ends up hurting everything, including our economy.

    We were on time and always early on our mortgage with Homeq for years. Then, Colorado had heavy snow storms, that ended up closing roads from Kansas for weeks. This happened in November of 2006, and my husband is a bus driver. He could not work, and doesn't get compensated unless he does. This is an act of nature. There was no other work at the time. The bus company he works for has ski charters all winter, but were unable to continue until all the roads were opened again.

    We fell behind one month. I immediately called Homeq, and explained the situation. I talked to a very nice man that told me, I could go on a payment plan for 6 months, which helped us immensely. He told me that, I could skip December's payment, and then begin the repayment plan in January. I praised God for this, for it helped us immensely. Again, this was only ONE MONTH that we were late. We had no paychecks coming in until they cleared the roads from Kansas to Colorado--about 2 weeks, before drivers stranded in Colorado could get back and the new charters could start going through (many charters were canceled afterwards because of this).

    The rep was very understanding, read me my rights over the phone, told me I was being recorded, etc. I got confirmation in the mail and began repayment--and also began a nightmare with Homeq.

    What the rep failed to tell me was that, my grace period no longer applied during repayment. The letter I received also has nothing on it to tell me this. My husband gets paid every 2 weeks, so his check didn't come in until January 2. Well, the repayment was for Jan. 1. I paid the mortgage on January 3, but it didn't clear with homeq until January 6th, even though I had a confirmation number.

    Instead of putting on my credit report that I was 30 days late, they have that I was 6 months late, even though I was on a repayment plan. Because I paid on the 3rd of January, I was in breach of my contract (supposedly) and was marked late AGAIN because of this.

    When I called to argue this and get it off my credit report I was told that, I was late and I was disclosed this information when the employee talked to me. I told them that, it was recorded that day and to listen to the entire conversation. If it was told to me, I would apologize and not go any further. However, I took my tax income and paid off my one month that was late in February, and should not have marks on there for being late in December, January AND February. I was told again that, they couldn't review the conversation for it was already gone (since it was recorded in December), and that, even though I was paid up, I was still considered late, due to the repayment contract stating I was to pay on the first of the month, as told to me "over the phone", which I know was never told to me.

    So, even though I paid at the end of December, on Jan. 3, and paid the arrears in FULL in February, I still have negative marks of being late--even though I have electronic check confirmation numbers to PROVE I paid as stated.

    To make matters worse, I sent a payment, electronically on March 13. I received a confirmation number as well, and it was directly sent to Homeq. However, it wasn't credited to my account until March 15--again, putting a LATE mark on my credit report, even though I have proof of payment on my checking account of it being transferred immediately.

    So now, I have one of the lovely ARM's, which I figured I would just refinance when the time came. Thanks to Homeq, I can't refinance because our credit is so poor, showing 4 months of late's, even though I only had one month of late. I have investigations going through all credit reporting agencies, and am fighting this. However, I still cannot refinance until this is taken off my record--this brought my credit down to 582, which makes it very hard to refinance with because we are not rich enough to own a 401K, the employer we have doesn't offer one, and with a credit score now that low, we can't find anyone that will take the risk--why? Because, it is the MORTGAGE we were shown late with!

    I will say this--I have never had a bad rep call me. They are always very nice. It is the company I have a problem with, and what they are doing to the people that have loans through them. I also get called on the 1st of every month. I am now paying electronically on the 31st of the month before--but it isn't being credited by Homeq until the 2nd. My grace period is still the 15th, and I am paying early..yet, I still receive a call every 1st of the month, where i have to read the confirmation number to them, every time--and then get an apology for the call (you would think they would record this and check for incoming transfers, before putting us in for a collection call).

    I am disgusted. We had good credit until this all happened. This was a freak issue with weather, and we immediately took action and called Homeq to let them no. We never tried to not pay our debt, but tried to work with them, which we thought was happening. Ever since, it has been pure hell.

    I am a Christian and I know I must be responsible for our debts. I have never, once tried to not repay my duties. I just could not do it on the date it was due, and tried to explain the circumstances--yet, only got into hot water because of my honesty and wanting to make things right. How can a company do this? What good does it do for everyone involved?

    The foreclosure rate, due to arm's is supposed to rise this coming year, unless the government does something. If this happens, our economy slide even more. I don't know how I am going to pay the 250.00 more a month for my loan, so I can't imagine how those who are really struggling, due to loss of income are going to survive this either. The only ones that will make out on this are the ones that make money off of the misfortune of others--greedy landlords that take the property for nothing, fix them up a bit and resell them--or these mlm companies that sell you foreclosure lists and then have you try to bid on these houses (which is almost impossible, since there are the wealthy that can make cash payments that day, and you just can't outbid them).

    We need to all get together and fight this company. Heck, I don't know who to write but I am willing to get on the podium and start fighting for what is right and stopping what is wrong. Homeq should offer a refinance for those unable to pay for the arm rising rate. They should offer SOMETHING==after all, their site insists that they value their customers. Is it the customers that they value, or their wallets?

    Sorry, I went off on a tangent but..This is so wrong. I am praying that, someone in government takes a look at these practices and realizes that, something is desperately wrong because of so many having it happen to them (and it not just being those that truly are deadbeats), and force these mortgage companies to do something so our country does not go into foreclosure hell.

    God bless you all that have gone through it. You are absolutely right, no matter what "employee" says you are not, and I have a checking account that can prove it, as I am sure you do to.

    Sincerely,
    Kelly Berrigan

    0 Votes
  • Ka
    Kay Nov 06, 2007
    This comment was posted by
    a verified customer
    Verified customer

    Chalk one more up on the list of those forced to deal with HomEq.

    Like so many others, our loan was not originated with HomEq, but was acquired...probably in a mass purchase deal. We do not, nor have ever had a "sub-prime" mortgage. So how exactly this "Servicer" came to have control of our Note is a mystery.

    When our loan was sold, we received a call from a CSR @ HomEq, informing us of the transfer, and wanting to verify the terms of the Note. When she stated that there was no Escrow, I stopped her right there. We have always had an Escrow Acct. for taxes/insurance.

    She said that she would "look into that, and let us know". I never did get a call back FROM HomEq confirming the Escrow... it took many repeated calls TO them to get the confirmation that their error had been corrected.

    They have tried to "get us" with the forced insurance as well. We received a letter stating that their information showed a deficiency of insurance to satisfy our Note. That's funny, just before our loan was sold, we'd re-financed (with the same Co. that had held our Note since it's inception in 1999)... and there's NO WAY the re-fi could have funded thru Underwriting if there was a deficiency. Again, there was never a call FROM HomEq to verify that yet another of their errors had been corrected. I got the confirmation from my Insurance Agent that all was ok.

    When I started hearing stories from those of you who have been scammed thru Property Taxes, I immediately called our County Assessors office to verify that our taxes were properly being posted and paid on time. Thank God, we're not in your boat..yet.

    I continue to contact both my Insurance Agent, and the County Assessors Office every 6 months to be sure that there are no problems.

    We are however, being harassed each and every month with phone calls up to 5-6 per day starting on the 2nd. Very, very rude employees. Shame on HomEq for allowing and probably encouraging their employees to behave in the manner they do. I'd sure hate to think of how they'd behave if the calls weren't "recorded for quality"... can you imagine!!

    Every time they call, they demand to know why the payment hasn't been received. Us, like many of you, do not get paid until after the 1st. But always before the "grace period" expires on the 16th. We have never been late, in the legal sense. We have always paid prior to the expiration of the "grace period".

    The caller always demands that "in order to stop the calls" we need to pay prior to the 1st, or "to set up for future payments". FUNNY. On the HomEq.com site, it clearly states that they DO NOT ACCEPT POST DATED PAYMENTS. So, how the heck can I be assured that they'll take a "FUTURE PAYMENT"

    Can someone PLEASE explain to me the difference? Their employees certainly can't!

    We too, have been trying to get away from this company. When I've asked them "Who owns my loan", I've been blatantly lied to. I had intended to 'enlighten' whom ever it is that did/does in fact own the loan, exactly how the Servicing Co. they employ is treating their clients. However, each time I'm given a name, when I call the company (Wells Fargo etc.) I learn that they DO NOT hold my Note.

    Rather than us having to deal with negative/erroneous reporting to the Credit Bureau, we have no reporting at all!! That's right, zero, zippo, nada. NOTHING!!!

    When talking to a Broker about re-financing, she asked us "Are you sure you have a Mortgage?" WHAT?! HOW, exactly, does that work?? It'd sure be nice to have all of our ON-TIME payments reflected in our Credit History. But gee, I can sure imagine after hearing all your stories what would happen should we become late! Amazing. Simply, amazing.

    I certainly hope that someone with at the Federal Level with the ability to something about this company, and others like them, takes note of all the hundreds of complaints logged online... and actually does something about them... and SOON!

    0 Votes
  • An
    angela l Nov 07, 2007
    This comment was posted by
    a verified customer
    Verified customer

    How dare you call these people cry babies-who died and made you god-who are you to judge them-have you ever been in their shoes-you never know what life is going to throw at you-you can't plan for life-it just happens and you do the best you can at it-what if you a had great job and then one day there was a horrible accident at your work-let's say you work at a factory and something fell on you-that crushed your legs to pieces-did you plan for that-of course not-can you now work and pay your bills-of course not-so know your out of work and have to rely on unemployment(which could take months to get)so you use your savings until then-then you use all your savings-now what to you do-life is uncertain-and it is really unfair of you to call these people you don't know cry babies-how can you judge when you never walked a day in their shoes-how would it feel if it were you going through this-obvious-you don't have any kind of heart or you would of thought about what you posted before you posted it-shame on you-it's tough world out there and we as people need to be more caring-as they say what would Jesus do-sincerely.

    Angela L.

    0 Votes
  • Ke
    Kelly Berrigan Nov 10, 2007
    This comment was posted by
    a verified customer
    Verified customer

    Amen, Angela!

    The problem with American business is that, it has gone far beyond making a profit into pure greed. I can see those that have credit history of constantly not adhering to their mortgages but, those that "all of a sudden" have a problem, it should be looked at as "gee, I wonder why, after 15 years, they fell behind once".

    There have been nothing but news reports lately about what is going to happen, if these mortgage companies proceed with their inflated ARM's. We are headed for a recession again, and mortgage stock will fall immensely. It seems to me that, the best interest of all would be to, either offer a refinance to those that are about to have an ARM adjustment, so they can get their money every month without fear--or simply, for the federal government to get involved and put some sort of guidelines on these companies so that these things don't happen.

    As for credit--I am constantly fighting homeq, even after it comes back as validated. I have statements with confirmation numbers that I can prove, all payments were made AND accepted by homeq--including some payments made (and that would be most) with extra paid towards principal. I won't give up. Sooner or later, someone is going to investigate this.

    God Bless,
    Kelly.

    0 Votes
  • He
    Helping my Dad Nov 10, 2007

    I am getting ready to file litigation against HomeQ Serv. They are responsible for me being homeless and poisoned in a uncontained mold remediation site. They paid the contractor and didn't 2 of 3 inspections they were to conduct before disbursing my funds. Well they paid the contractor, he walked off the job and I have mold poisoning. They refused to fix my home and then foreclosed on it after it was unlivable because of their errors. If you would like for me to print out your story and use to help establish character of these criminals, please e mail me giving me permission to use your story.

    God help us all...

    Betty.

    0 Votes
  • Ye
    Yevgenny Salizar Nov 14, 2007
    This comment was posted by
    a verified customer
    Verified customer

    All-Right... all of you put your "Money" where your mouths are... email me off-line and let's get a LARGE Class Action Suit filed against these thieves. Been dealing with them for over 2 years now... no resolution... been reading posts like this for nearly as long... time to act. I'm not talking about one or 2 people... I'm talking about a HUNDRED. Strength in Numbers

    Whose in?

    0 Votes
  • An
    Anonymous Nov 29, 2007
    This comment was posted by
    a verified customer
    Verified customer

    If you need to voice your complaints and get something done, you must call the COO of the company. His number is listed below. I am in a situation with HomeQ where my home is going to foreclose because we are short $2800. They will not approve a shortage of $2800. So instaed of getting 140,000 they want the full $142,800. We of course cannot come up with the money, so it will foreclosure. So please, do me a favor, call the piss out of this man and let him know just how you feel! Oh, and if you get his voicemail, press 0 then # to get his assistant. Good luck everyone!

    Keith Becker COO - HomeQ Servicing
    916-339-6134

    Press 0# to get his assistant, she actually answers the phone.

    0 Votes
  • Fr
    fraud_checker Dec 18, 2007

    Make your payments by the due date on the first and I bet you won't receive calls.

    Just because you don't get charged a late fee doesn't mean your payment isn't due on the first. If you actually look, you payment is due on the 1st and your account is considered past due on the 2nd if you payment isn't received.

    Read your paperwork before you sign it next time.

    0 Votes
  • Jo
    JoAnn Peters Jan 09, 2008
    This comment was posted by
    a verified customer
    Verified customer

    OK our story starts out about a year ago, my husband got laid off and didn't tell me he didn't make a payment that was Jan 07. When I realized this I immediately made good on catching up on this payment, but Homeq kept calling me to pay fee's like appraisal fee's late payment fee's and foreclosure fee's they said I accrued, not to mention, our property taxes were not escrowed and they went ahead and paid them, and we did too paid double! They would not return the money and they are making us pay them back now at double payment. I paid them all diligently and paid all payments on time the rest of the year. In Nov 07 I'm calling Homeq asking why they had not cashed the oct. payment? In a few days I got a letter stating they "Discovered an overage of payment ben fits You(ME)this upcoming holiday season" They said it was 1,200. in overpayment and enclosed was my Oct Check and a payment schedule of one lower payment for Nov and back to regular payments in Dec.

    Again I find out my Dec payment (mailed early dec) was never cashed. Jan 8th we call to find out why they had not cashed it and my husband was assured they had it and dec payment was made! Yet it was not taken out of my account. That same day I get a call from homeq Collections telling me
    "they can no longer accept payment by check and I would have to arrange alternate means of payment, and they were sending my check back, and ohh by the way your home is going to foreclosure Feb 25th"! This news put me in a heart attack mode and I almost paid him thousands of dollars over the phone, but did not. I could not imagine what we had done wrong. TODAY I get a statement (I requested) from Homeq showing we are up-to-date with
    all our payments! We called there offices and they assured us it was all a mistake.

    Reading all the bad report and bad news about Homeq's shady dealings and all the people having the same problems I am experiencing, I inquired about re-mortgaging our home elsewhere, and what did they find... Homeq reported to the credit agencies Jan 8th the same day, that we are under foreclosure (I was never served) and that all of our payments to them have
    been late! When I call the company I get nothing but a runaround and lies.

    I am not going to let these people get away with this, is anyone else in the process of any legal action against them? please let me know. These people are crooks, and Wachovia owns them they have to be held responsible for Homeq's unscrupulous behavior. anyone please help...

    0 Votes
  • Er
    Erick Jan 30, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I do not work for HomEq. If you send in your payments and they are not applied. Fax them copies of your cleared checks (with account numbers covered) to prove that the payment has been made and it has been taken out of your account. Also, the only reason they call you in the first place is because you are behind; and YES even though you are in your GRACE PERIOD they CAN still call you because of the size of your loan. Credit card companies usually don't hold loans of over 100k because people wouldn't pay them and they would have to write off the debt.
    If you can't make the loan CALL HomeEq and they will do what they can to work with you and try and set you on a payment plan that fits both you and the originator of the loan. Yes, HomEq is owned by Barclays but HomEq doesn't write the loan they just SERVICE it, they service loans from not just Barclays but CountryWide, Wells Fargo, etc. THEY DON'T WRITE THEM, those companies pay HomeEq to do the "dirty work" of the loan so their names stay nice and clean. If you have problems with the terms of your loan don't blame HomEq, you need to discuss them with whomever you bought the mortgage from. Again HomEq services (making calls), not writing mortgages (loaning money).

    0 Votes
  • Re
    Realty Mediation Services Jan 31, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I agree with everyone on this comment board and I am so sorry to hear about all the trouble that you are all having. This is the reason I started my company. I have helped several people that have mortgages with ASC, Countrywide, and other mortgage companies that don't seem to care if they harass people or suck them dry. The comments I have heard are along the lines of trying to get blood from a stone or turnip, or something like that.

    I have a service that actually will take you out of the loop of contact with ASC, or Countrywide or whomever you have servicing your loan. All you have to do is tell me how we can help you. By that I mean, tell us what you are looking for us to do for you and we will pursue the help that you want, no matter what. We have all aspects of the mortgage business covered from being a mortgage mediation company, a title company, a real estate company, all the way to having access to attorneys for litigation or help to avoid foreclosure. No aspect of help is turned away.

    Let me tell you, most of the customers that I deal with have told me about the fear and the frustration of working with mortgage companies that don't seem to care or give them the runaround. To be totally fair, mortgage companies have their ways of dealing with people. Some are good, some are horrible. But one thing all mortgage companies love is being vague. When they are vague, they don't have to give you information until you ASK for it. How does that help you? How can you try to save your home if you don't know how to ask the right questions?

    That’s another reason why I created this company. I take your number out of their "system". When they mail you something, it goes to me. I take the burden away from you so you can live your life without the phone calls and the letters. And the rudeness!!! Oh, man, if I told you some of the stories I have heard....let's just say, it’s not pretty.

    I know that some people are going to look at this comment and go, this guy is trying to drum up business. Well, you're right. But here's the kicker. I used to work in mortgage collections. I used to make the phone calls and send the letters. I used to work around the people that make your lives hell. And I kept asking myself, why? Why are these people not being told about the help that’s readily available? Why are these people not being helped to make payment arrangements that are realistic? Why does this company care more about the money than about customer service when that is supposed to be their primary objective?

    That's why I got out. I can not stand collections. Just because they are hiding behind a company name they think that they can say anything or act anyway they like with the customers, being friendly with one and the next 40-50 they can treat like crap. Where is the customer service?

    I take all that frustration away from you and create solutions that work. I know that it may be hard to swallow, but I do. I have done it for several people. And I can do it for you too. If you want more specifics or just want to talk to me, call my office at 888-453-1518 and check out the website, which is being updated with a few new options available. And this isn't just for people facing foreclosure, people that are current and want to pay off their home early, call me. I can and will help as many people as I am able to. What have you got to lose? Website address is http://www.onlybusiness.com/members/RealtyMediationService...and if not for you, best of luck. In all your endeavors.

    0 Votes
  • Ch
    chris Mar 02, 2008
    This comment was posted by
    a verified customer
    Verified customer

    No disrepect toward you, but to anyone who is searching for resolution, contact your HUD or legal aid for a list of the most used arbitrators. At the time I needed one, there were 3 main ones most commonly used.
    Heres why:

    An arbitrator is supposed to be impartial and have no personal investment in the outcome. When I was dealing with HFC, they set up a meeting with an "arbitrator", who identified himself as such, then when the meeting was underway, I asked how he would feel about a recorded meeting, literally, with a recording device.

    He said he wouldnt have a problem with it.
    He was smiling big and shiny until I placed a recorder on the table between us. I stated that I need to do this to make sure I clearly understand everything, and can reference back, because HFC blamed everything on my being mistaken.

    On the recorder, I have a loud "This meeting is OVER!" and my asking why. I called the arbitrators office on the approved list, and discovered that this joker was a fake, and had hoped I would hand him my copies of bogus loan agreement so no more would exist. Mine showed evidence of fraud and the game was on to get them back.

    Moral of the story is GET ID FROM THE ARBITRATOR. LIKE A drivers License in addition to official ID. And make sure you have spoken to the arbitrators referred from HUD and that you know who you will be meeting with.

    And DONT bring your documents!!!

    Bring COPIES of your documents. With as shady as these companies are, they can and do have arbitration setups to expedite to their benefit.

    0 Votes
  • Ch
    chris Mar 02, 2008
    This comment was posted by
    a verified customer
    Verified customer

    One last thing:

    ANNA, YOU ARE A ### SUCKER. THE FACT THAT YOU WERE THE FAT UGLY GEEK IN HIGHSCHOOL WHO HAD NO FRIENDS DOESNT JUSTIFY YOUR BEHAVIOR NOW.

    BEING HATEFUL AND HURTFUL DOESNT AVENGE THAT, BECAUSE SEE... YOU WILL STILL BE YOU, AND THAT SUCKS. Youll never be good enough, so you think being a scank will help? No, now your just an ugly mean scank.

    It doesnt take a stupid person to get a bogus loan. It takes a clever thief.

    0 Votes
  • St
    steven saturno Mar 22, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I would not doubt, not for a minute that homeq is owned by some congressman or senator with a attorney actining as a front man. why else would they get away with this crap? America is being sold out and has been going down hill since the mid 80s.

    0 Votes
  • J
    J Apr 05, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I'm sure, by my very writing of this, I will attract fire from those who are in such a bad situation, they refuse to see anything else but negative comments. I know that no amount of explanation will ever sastisfy some. I apologize if this is the case.

    I think it is important to note, that the agents you speak with at HomEq are in fact only hourly employees, many of whom, are paying their way through college. They do not want to do this, but must, so they can attempt to find a better job after they graduate. Others are simply doing the same as you, working a job they may or may not like (they probably don't) so they can pay their bills, rent, and yes mortgage. Before it is mentioned, yes there are agents, who in irony, have mortgages serviced by HomEq Servicing themselves!

    HomEq Servicing is a servicing company. To some that may mean a collections company. This is sort of true, but a lot is lost in that description. They do more than collect, they handle every aspect of the loan. The Investor or owner of the loan pays HomEq to handle every aspect of the loan. HomEq has contracts with the investor to execute the contract on behalf of them. From the taxes and insurance, to Adjustable Rate related issues, to the taking and application of payments, and yes to the collection of said payments that are not paid on the due date, which for the vast majority of loans is the 1st of the month.

    Every customer has grace days, usually 15, sometimes 10, though. I'm sure many people here have been called the day after the payment is due. You may think this is wrong. HomEq, and any mortgage company is legally allowed to do this. Many servicers choose not to call on the 2nd day. HomEq chooses to exercise this right..

    One of the reasons investors choose HomEq to service their loans is HomEq has proven itself as very good at servcing loans that have had payment issues in the past, poor credit, or other issues that would make the loan considered "bad paper" by the industry. One of the reasons we've been able to do this, is by enforcing more strict policies, that we are legally able to, that other servicers may not, such as calling on the day after the payment is due.

    Its almost important to note, that HomEq and Investors do not want foreclosure, except as a last option. All parties stand to gain the most from a successful 30-year mortgage. The investor gets the money they lent back in full, plus roughly double in interest, the servicer gets paid for a full 30 years, and the customer gets to own a home, which normally they would never be able to pay in full. But sometimes things cannot happen like this. Problems happens, people lose jobs, get sick, lose loved ones, etc and a customer is unable to pay. This makes a company uneasy, afterall they lent a large amount of money, they need assurance they will be paid back. Therefore HomEq wants to prevent these issues from getting worse. We will ask you questions such as why you were late, to determine the severity of the crisis, and about how long it will last. This allows us to better find a workout solution for you. Its also complied in order to create statistics of what is currently affecting borrowers as a whole.

    It could be simple, and you will be able to make the Total Amount Due fairly soon, you've only had a temporary and minor setback. Possibly its longer than that, and we will need more information, such as your income and expenses. This is to determine if we can provide other possible options like a repayment plan, where we agree to except less than Total Amount Due, but more than one payment, until these fractions equal a full payment. (If you are 1+ months past due this is easier than making a double, or triple payment). Other options besides these are on a case by case basis, and what we can do beyond these options is largely determined by the investor. These options may include modification (this is almost exclusively for lowering ARM Rates back to their teaser rate!), short sale, short refinance, deed in lieu.

    I have heard many people complain that felt their loan is fradulent in some way. You were led to believe it was Fixed, and it was in fact an ARM or something to that effect. If this is the case you need to read your documents carefully before you sign them. I don't care if you're pissing everyone off in the room around you when you're closing, because they just want you to hurry up and sign them! This is 30 years of your life (42% of the average lifespan) we're talking about here, they can wait an hour for you to fully understand what you're getting yourself into! If you were led to believe your loan was something different than what it is, you need to contact an attorney about this. This is not the business or fault of HomEq. This is the fault of your Loan Officer, and he is repsonsible, to both us and you. I know for many an attorney is beyond your means. Search around, I'm sure there is one out there who would be willing to take the case first, and collect payment after the case is won, hopefully when financial compensation would be coming your way. If not, I'm sorry, contact the state, HUD, other gov't organizations (contacting HUD in any case when you're behind is a good idea).

    You should, in theory, have half your monthly mortgage payment left over after you've subtracted your income from all your expenses. I know that some may make some chuckle at this. If your surplus is lower than this, you may want to consider reevaulating your lifestyle, and cutting expeneses. If that doesn't do the trick, then you may want to consider selling. I know many people will not be able to sell their homes because they owe more than the home is worth. If this is because the value of the home was over-appraised you need to contact an attorney! If this is because the values of homes have declined so rapidly in your area, then attempt to sell it anyway. You won't know anything unless you try. If you still can't sell, talk to HomEq about doing a short sale. This is where, if you can sell the home for less than what you owe, we will agree to forgive the remaining debt.

    I hope this explain some to those you have issues with HomEq Servicing. Please though, on either side, personal attacks help no one in this situation. HomEq employees are not ### suckers, they are simply workers trying to get by, and HomEq customers are not deadbeats, they are simply people who have fallen on hard times, and may need more strict guidelines to ensure they can get back on track in a reasonable amount of time.

    Then if all else fails HomEq may foreclose. At this point its no longer a matter of making money, but a matter of preventing further loss. Depending on the state this may be a short process, or a long drawn out process.

    0 Votes
  • Re
    Reno Navarette May 14, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Bottomline...they are holding on to checks so that your payment "is late" so they can tack on late fees. Also- when you make online payments, the payment does not post in a timely fashion. On top of all this they provide poor customer service. I can't wait to refi.

    0 Votes
  • Ke
    Kelly B. May 15, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I have to say I just had a great experience with Homeq.

    We are in a sub-prime mortgage with an initial int. rate of 7.8 %. It was set to re-set on June 1, 2008. The payment would be going up about $500.00. We tried to refinance but couldn't because we didn't have enough equity in our home. We applied for a modification and submitted our financials to the modification dept. at HomeQ. A work out specialist called us and asked us a few pertinent questions-she was very professional and polite-she said she was submitting our case for final approval and we would hear something in two weeks.

    About a week and a half later we were faxed a modification agreement. They lowered our interest rate to 5% and froze it for 5 years. They did require we put taxes and insurance in our payment-which was fine with us. Our payment is now $400.00 less than our initial payment and our initial payment only included principal and interest.

    Now we do have documentable income, we are still living in our house, we were current in our payments and have decent(not excellent) credit. This modification will not impact our credit negatively at all.

    The whole process took only about 45 days.

    So I am sorry to all of those of you who had negative experiences with Homeq-but I did need to tell you about my positive one. I think if you fit the parameters for a modification it really helps. Being current in your payments, having documentable income, and being able to still afford the new payment is important it seems.

    And no, I don't work for Homeq. I am an escrow officer at a title company.

    0 Votes
  • B
    B Jun 07, 2008
    This comment was posted by
    a verified customer
    Verified customer

    """"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?"""""

    what a crock. why would homeq want your home? what a dumb statement. and for the person that mentioned "barclad." its BARCLAYS you incompetent fool.

    The ONLY reason they would call you within your grace period is if you have gone past a certain level of deliquency in the past. they don't call everyone in the grace period...they're calling you because you pose a certain risk. And guess what, even with a grace period, you are deliquent on the second day of the due date. get over yourselves, pay your mortgage on time and take responsibility for your own inability to afford your home. it is not homeq's fault.

    0 Votes
  • La
    Larry mezzacapa Jul 07, 2008
    This comment was posted by
    a verified customer
    Verified customer

    What every body who has a loan with HomEq should do is form a Blog of information on HomEq .That way by way of computer they can all be united to at the same time, all stop there morgage payments at once.That will definetly get the Government and the Federal Regulators who loan HomEq there money at 2% and they turn around and loan it to use tax payers at 7% for doing little of nothing for it.That would also draw in the news media and get it on Telivision as the real reason for the collapse of HomEq and there henchmen.See Ch.7 on your side, they love to investigate jerks like these clowns who think we tax payers are a bunch of ignorante folks.

    0 Votes
  • Hl
    hlvnhlpme Aug 21, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I don't have a problem with the persons who have complaints, but I do have a problem with the negative and nasty replies of others giving a response, with the exception of the HomEq employee. People, the complainers have a point, YOUR attacks on their problems are arrogant and personal. They are making a case in point. YOU are responding with no idea of what their situation or lifestyle is whatsoever. What makesyou think you are handling your situation better than them, and what makes you think that this will not happen to you at some point in time? If and when it does, how will YOU handle it? "There by the Grace of God . . ."

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