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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

  • Ve
    very unhappy people Jul 19, 2010

    I think they should have someone check the accounts and then make them give back some of the money that they have taken from people. since the allow the people they work for call and threaten people anytime they want to . they keep saying that i will here something from them well it has been 3 wks. and nothing but that is no suprise they would have to admit they wer wrong in the way they treat us the working people trying to buy a home

    0 Votes
  • Fr
    frankcisco Jun 30, 2010

    Homeq has claimed to want to help clients in distress...most clients I have spoken to have been ridiculed by these telemarketers for their misfortunes and turned down for a modification. My last client was told to "move his mother to cheaper quarters" so that they could make the mortgage payment...This company is truly disgusting and it's a shame that when mortgages are sold off on the secondary market, the unsuspecting homeowner can end up at their mercy!

    0 Votes
  • Ve
    very unhappy people Jun 22, 2010

    P.S. TO THE PEOPLE MAKING THE REMARK ABOUT MAKING PAYMENTS ON TIME . WE WERE AND BECAUSE WE DID NOT INCLUDE THEIR INSURANCE PAYMENT WITH THE PAYMENT. THEY CALLED AT 8 AM ON A SUNDAY MORNING AND TOLD ME TO GET FOOD FROM A CHURCH NOT BUY GROCERIES FOR MY FAMILY THAT THEIR PAYMENT CAME FIRST. SO UNTIL YOU GET A PHONE CALL LIKE THAT FIRST THING IN THE MORNING YOU DO NOT KNOW WHAT YOU ARE TALKING ABOUT. SO THINK ABOUT THAT THEN MAKE YOUR LITTLE HATEFUL REMARKS

    0 Votes
  • Jo
    Joe the dude May 29, 2010

    Everyone that has a major beef with HomEq - get ready - they just got sold, to Ocwen. The deal will be done within the year, and by deal, I mean that all of you with HomEq loans will now be getting calls from Ocwen.

    Before you jump for joy at the thought of your least favorite company being shut down, look at the following.

    1. HomEq is one of the HIGHEST rated servicers by Moodys/Fitch.
    2. Ocwen has 80% of it's employees in India.

    Here is a snippet from the Ocwen 2009 10-k SEC filing:

    of 1, 894 Employees, only 328 reside in the USA.

    You thought HomEq was bad? Just wait until you get connected to a representative in India - GOOD LUCK with your modification while talking to them.

    Oh, one other thing, OCWEN is rated BELOW HomEq.

    One last little tidbit. While you may hate HomEq, they employ almost 1, 400 American's - and all that is probably going away. Think about that the next time you come on here ranting about your raising mortgage payment because you couldn't read or understand the terms that YOU signed for. What the hell happened to responsibility? You signed the contract - you complained when HomEq tried to hold you too it (which they are legally bound to do for the investors that OWN your loan and fronted the money to you to begin with). Just get over yourselves.

    You thought you had it bad with HomEq ... just you wait ... just you wait.

    0 Votes
  • Ca
    CA Home Owner May 11, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I have had some serious frustrations with this company and actually obtained an attorney. My loan was sold to them from a reputable bank and this company is a bill collector and whether you pay on time or not, when they call you they say we are a debt collector trying to collect a debt. I lost my job after many years and 8 months later ran out of savings. Living in CA, my mortgage is a costly one and without a job or savings it went into foreclosure. It took them three months to tell me I did not qualify for any programs that they had already prequalified me for. They put my house on the market, I told them I had money coming in within a few weeks and an attorney could verify this. The money was coming in on the same day the house was scheduled to be sold. SERIOUSLY. They refused to give me an extra few days. I got an attorney and they changed their mind and gave me an extra 30 days. I paid the back payments, and now I pay on the last day of the grace period. They call 2-3 times a day to see when the payment will be made even though it is in the grace period. They are a nightmare and each rep gives a different answer. One of the reps told me my house was NOT in foreclosure and another rep said it was. I cannot stress enough how much this company seems to lack any compassion or even legal business practices. I cannot imagine it is legal to call 2-3 times a day when a payment that is due on the first has not been paid in the 15 day grace period. I seriously hope a class action lawsuit is pending and it might start from me.

    0 Votes
  • Da
    David Landman May 07, 2010

    HOMEQ is the worst when a short sale request is submitted. They will not accept a short sale payoff from a borrower in hardship and they will send the property to foreclosure for no reason, they want to get for a house that is worth 100k, 150k!, and they will not accept a short payoff even thou the market went to the floor. They are not short sale - borrower friendly and their clerks are very disrespectfull and tyrants.

    0 Votes
  • Un
    unknown35 Apr 19, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Hi There,
    As a current employee of Homeq.com seem that the supervisors there are not all on the same page when it comes to there team members.. The company has a particular supervisor who does not allow employees on her team to use the restroom unles it is on their break. She further states that if an employee must use the restroom other than a break, then they must obtain a doctors note allowing them permission which needs to be forwarded over to the human resource department who would then allow it under FMLA. I don't think this is a fair practice, especially when it comes to a woman and that time of the month. This is also not even noted in their policy and procedures for the employee once hired. It seems to be a made up rule. Not too mention, FMLA under the law states that you can't use it unless you have been with the employer for a year. Is this something that they can get away with?

    0 Votes
  • Ca
    cafe31 Mar 08, 2010

    Yup Home eq is unscrupulous the few folks that have sided with Home Eq in favor of their practices .. you must work for them.. They are liars pure and simple.. we've come up with everything they've asked and still we've gotten the run around.. Why are they allowed to continue doing business.. Home Eq is the devil and we've been trying to modify our loan since last year.. they aren't applying our payments to our account.. They are robbing from us all.. We came up with another $4000.00 and it went to pay "fees" Why is the government not able to help?

    0 Votes
  • St
    Stephy2316 Feb 16, 2010

    I totally agree with everyone, HomeQ Servicing is an awful company to do business with. The reps are very rude and inconsiderate, and for some reason I think they are taught to be this way, because out of the seven years I have been financed with their company, I have only talked to one person who appeared to be remotely sane. They are trying to foreclose on my house because they foreceplaced insurance and paid taxes for my home one year. I tried to make arrangements to pay them back. They would not try to understand anything I said. I paid my mortgage on time for all of those years, and as soon as the road got bumpy because of the economy, me and my husband's income went down. I tried to get approved for a loan modification, and the rep told me that I didn't make enough money. Then I tried again after I got a part-time job to add more income and they told me I made too much. I don't understand what they want you to do.

    This company needs to be shut down immediately, and someone else who knows how to deal with people and finances needs to take over. I am completely so over this incompetent so-called debt coollecting service.

    The person who is stating that people should pay theuir bills, get a clue, it could easily be you soon. They misplace payments that you have already sent in, and they post your payments late at times, so the next late post might be yours. Better hope you don't have to eat all of those words you are stating. You nay be the next one posting how much you hate HomeQ. Unless you work for them, then I can understand because then I know you're just brain washed by people who are getting rich off of others, is it making your pockets that much fatter? If you don't have a problem with them, stay off the blog and let thise who need to voice their opinion do so w/o your two cents.

    0 Votes
  • Fr
    frustrated homeowner Jan 09, 2010

    The Attorney General in the State of Ohio is filing suit against this company...
    Read more at:http://www.ohioattorneygeneral.gov/SpeakOutOhio/Blog/December-2009/Ohio-files-third-servicer-lawsuit

    0 Votes
  • St
    Sterry1 Jan 06, 2010

    I know this may be hard to beleive. I filed bankruptcy over 2 yrs ago. At the time I filed my bankruptcy & began making my monthly bankruptcy payments. I thought I was on the road to recovery from a divorce. 2 years later I received notification that I had not made a payment to this mortage company. My concern all along has been that if a client misses 1 or 2 payments the mortage company starts contacting you several times a day until payment is received. I received NO! notification from this company at all. Now I am in the process of going through the loan modifcation with this company. I have been waiting over a month in a half for a response. Today I was told that it could take another 2 weeks to a month because they are behind. Meanwhile my sale date for my home is in 3 weeks. Besides that my interest rate is 11.5 % which is outragous!

    0 Votes
  • Id
    I DON' T THINK SO Dec 15, 2009

    I AGREE HOMEQ IS A NIGHTMARE. I ALSO HAD AND HAVE PROBLEMS WITH HOMEQ. WHAT I DID I CALLED THE CEO BARCLAY. I CALLED MY SENATOR OF GEORGIA. I CALLED MY CONGRESSMAN. I CALLED THE FEDERAL RESERVE PUT IN MY COMPLAINT. I WROTE NAMES, DATES AND TIMES WITH EVERY PHONE CALL. THIS WAS JUST TO GET MY MORTGAGE MODIFICATION. WHEN I GOT ALL THESE PEOPLE INVOLVE HOMEQ STARTED CALLING ME TO RESOLVE THIS PROBLEM. WHEN I WOULD SPEAK TO CSR AT HOMEQ I WOULD LET THEM KNOW I'M RECORDING THE CONVERSATION AND I WOULD CALL NAMES THAT I SPOKE TO, BECAUSE SOME OF THE CSR DID NOT THEIR BOSS NAME. I REQUESTED ANSWERS AND IF THAT CSR COULDN'T ANSWER THE QUESTION I REQUESTED TO SPEAK TO SOMEONE WHO COULD AND I WOULD REMIND THE CSR THAT I AM RECORDING THE CONVERSATION SO THEY CAN PASS IT ON TO THE NEXT PERSON I SPOKE TO. JUST BECAUSE HOMEQ TELLS YOU THEY ARE RECORDING THE CONVERSATION DON'T BELIEVE ( THEY ARE LIARS ). HOMEQ IS AGRESSIVE COMPANY SO YOU HAVE TO BE THE SAME WAY, LET HOMEQ KNOW YOU ARE NOT GOING TO BACK DOWN AND STOP FIGHTING FOR YOUR HOME.

    0 Votes
  • Mi
    miserable consumer Nov 17, 2009

    Can't even get them to return calls! I speak to an automated voice system...they are terrible! Like others, we were sold to them..I sure as heck would NEVER choose them for a mortgage company. They owe me for overpaid taxes and can't even produce the transaction number of the electronic transfer, , been trying to get it for two years! In short! They are a miserable, deceptive, customer unfriendly company.

    0 Votes
  • Jo
    joie Jul 05, 2009

    this company is a total nightmare, that can wait for day to refinance, i called them .told them that my mortgage was to higt she told me what dont you go look for a another jobs, i was so mad. can belieave she just told me that. i hate this company.the worst company ever

    0 Votes
  • Jo
    Joe Jun 16, 2009

    I represent a client who is being serviced by HomEq in California. We just filed suit against them in LA Superior Court for servicing issues and a fraudulent loan mod transaction (they put language in the loan mod agreement waiving all rights of the borrower against them and the note holder; agreement only in english; borrower only speaks spanish). The loan mod was barely a mod too. They also sent a "collector" out to the borrower's home unannounced who wouldn't give them any info and call at all hours of the day and night even after they've been told the borrower is represented by counsel. It appears they are an overly aggressive company. I have heard some servicers are paid more when they institute foreclosures then when they agree to a loan mod - not sure if this is true. In this case, they started the foreclosure process immediately after one payment was missed, without any attempt to work with the borrower. When I call them, they say they are transferring me to the "legal department" and then I get a busy signal - happens every time. If anyone has experiences like these from HomEq, I would be happy to hear from you. email: [email protected]

    0 Votes
  • No
    Norma Jean Jun 02, 2009
    This comment was posted by
    a verified customer
    Verified customer

    3 1/2 yrs ago my husband went to the hositpal, near death. So we get behind 2 payments. When they called me to make payment arragments, I went down and made the payment. When I went to make the next payment, HomEq turned it down and started forcloser. We had to file for Chapter 13. Another story.
    Will my husband passed away 5/12/09 and now they want my house.

    0 Votes
  • Ca
    carpediem May 06, 2009

    This is all some hysterical reading prior to going to bed..I love it.

    How can you blame Homeq for the loan you signed...???????? I don't understand it.

    0 Votes
  • Ti
    TIREDOFHOMEQ Apr 20, 2009

    I think I finally see the big pic with HomeQ. reading pretty much the same thing over and over on regards to payments that were never applied to the account properly and reported to the credit bureau, I can say this:

    1) They knew what loans had ARMS and could possibly be of high risk when they bought them.
    2) Isn't it convenient for them that your credit worsens and worsens when they dont apply the payments and neglect taking them off the Credit reports after the issue has been "resolved"?

    Of course it is! for them anyways...
    Check it out,
    If you got into an ARM loan thinking you could refinance after 3 years, they would know that the only possible way you could get out of their servicing company would be exactly by going somewhere else and refinancing. Ah, but here is the problem...

    If your credit score is nailed constantly with "late payments" and delinquent status, how long would it be until your credit score was so worthless you couldnt get a gas card??

    So, my theory, is:
    This company knew what they were looking for when it comes to loans, they knew how to run around the system and knew that by purposely ruining people's credit would be the only way to maintain a steady clientele, otherwise everyone that has HomeQ as a servicing company would have fled or bailed out by now. But, where can you go when your credit report looks like hell? nowhere! you have to stay with them or lose the house or find a way to fix your credit (which at this time in the economy is extremely hard) now, I suggest to all of those that had the issues of late payments to create a group and sign a petition to be taken to congress and have this company investigated inmediately. I am sure that by starting there the whole company will unravel in a heartbeat.

    Think about it... compare how your score would be without those "reports" they filed against you to the one you have now. Chances are 90% or more people out there would have been able to walk away from HomeQ a long time ago.Personally, I think that would be to me ehough proof that there is definately negligent intent on their part. I myself have issues with HomeQ because they gave me a 5 year modification plan offer and later told me that the offer was only good for 30 days. Now they are asking for $1000 just to review my situation and decide if I qualify for a higher payment, although my financial status changed barely enough to qualify for their first offer (which is no longer available).

    Just to show how these people's "house always wins" casino attitude is:
    1) Last time I talked with a rep was in March and they didnt inform me of the new Obama plan which is now posted on their site. If I wouldnt have gone there trying to find more in depth details I would have never known it existed just by talking to them over the phone and pretty much would have to settle with the 5 year "modification". By the way, the 5 year "modification" is just a patch on the Dam, as you will go back to square 1 in 5 years and who says they wont "misplace" your payments again in those 5 years keeping your credit score down? Vicious circle aint it?

    2) I recently found work (I had a job that would cover most of my bills exept the house payment), so if I have to send my previous 30 days bank statement for April how would that show I can now make enough to pay the house if I dont get paid until the first of May??

    In the following days i am going to look at my options and see what I can do to save my house. One thing is for certain though, If my house gets Foreclosed I am not going to let it eat me up inside, because HomeQ, their employees or anybody working for those people isn't worth getting an ulcer or a heart attack. As long as I am alive and well I can always find a way (besides, right now with the market how it is it is still cheaper to rent than to buy a home that God knows how long will take to gain equity or go upside down again). Best advice to those of you out there in my same predicament? try to save your house, but if it doesnt seem "doable" just turn in the keys, try to resolve your other credit issues, rent an apartment and wait till this whole housing mess blows over. Chances are by the time everything starts looking up again it will be 2 to 4 years so your credit has a chance to get fixed from here till then.

    0 Votes
  • On
    OnTimeBilly Apr 15, 2009
    This comment was posted by
    a verified customer
    Verified customer

    Okay I have had many mortgages in my house buying and selling time. And I have NEVER been naive / dumb enough to take out an Adjustable Rate Mortgage. If YOU signed on the dotted line for an ARM, they YOU should not complain when your monthly mortgage payment goes up.

    I pay my mortgage payments on time, and they are received by the mortgage companies by the due date.

    Guess what? Then you don't get collection calls.

    It does NOT matter why you can't make your mortgage payments on time, no one cares what your sob story is...your payment is due on the due date. No one owes you a f*cking break. Pay your bills on time and stop ###, losers!

    0 Votes
  • Me
    mefurious Mar 31, 2009

    1st and foremost my mortgage was bought by homeq, i wasn't delinquent and if i knew what i knew now about mortgages i would of run screaming 5yrs. ago. not trying to find a quiet place to raise my kids, still all said and done if your mortgage increased every 6mnths and is at an outrageous $2559., then u still have to pay a second mortgage of 517. fixed then maybe u decide that the kids eat 1 st. credit last. by the way every time my mortgage goes up my credit goes down

    0 Votes
  • Me
    mefurious Mar 31, 2009

    why is the gov't not getting involved in how this company does subprime mortgages, they call u the first of the month when the 13th or the 15th is your late date. my other complaint is my mortgage increases every 6months and has never decreased now my credit sucks. thanks homeq

    0 Votes
  • Re
    renaud0966 Mar 27, 2009

    I completely agree - I contacted then when I was just 1 month over due asking for a loan modification to be done. I was told that it as NO PROBLEM I was given the interest rate of 5.5 and was even told what my new loan payment would be. I immediately started sending them 1/4 of that payment every Friday - even though they said they didn't want me to send ANY money during the modification process. I called, and e-mailed and faxed for the next month - always being told the same thing - your modification is with supervisors for review we will contact you when it is done... finally on November 3rd I called and was told it was completed. I asked the girl to fax it to me - she did. The rate was 8.5 - the payment was about 500.00 more than I had been told and the paperwork said that the first payment was due NOVEMBER 1st - two days before I had even seen the paperwork. I immediately wrote a note and faxed all the documents back to them explaining the situation and asking for it to be reviewed - again I was told NOT to send any money while they reviewed it. In November my 17 year old daughter was killed in a car accident and I was begging them to assist me and get this finished because I couldn't handle all the stress... nothing then in December they started sending back the payments was making each Friday. I kept calling and e-mailing and faxing for the next months - getting very little back and no detailed info - all the while being told to NOT send any money... Then I get the letter saying my modification was denied and I was in FORCLOSURE???!?!? I wrote again and called and they said OH Yes we can modify - send us 3244.00 and we will look at it.. I did and they approved it - sent me paperwork and tacked on over 5, 000 in interest to the end of the loan increasing what I owe. Then they passed the servicing of my loan onto another company - telling them it was PAST DUE SINCE SEPTEMBER... uughghgh... so now I am currently trying to get this resolved - and Homeq is still telling me I have to wait while the "research" the issue. It's been over a week.

    0 Votes
  • Re
    Rev. Stephen Greene Feb 14, 2009

    We inherited Homeq Servicing through the predatory lenders scam. New Century Home Mortgage sold our mortgage to Homeq Servicing in late 2006. When I contacted Homeq Servicing reps, they told me that they were representing USB, a mortgage holding company, and that our mortgage was sent to Homeq through USB. Well, I contacted USB and they did not buy our mortgage, nor did they have any mortgages in the state of Pennsylvania. When I finally got back in touch with Homeq Servicing, they told me they were a "collection agency" and that our mortgage was sold to them by New Century. In March of 2007, my employer fired me for false reasons. I was out of work for three months and fell behind on my mortgage payments. Rather than put me on a "forebearance plan, " Homeq reps told me that I had to send in a full mortgage payment every two weeks, or my mortgage would go into foreclosure. So, I sent in a full mortgage payment every two weeks for six weeks, before I realized that I was falling behind in all my other payments, car, utilities etc. I called Homeq again and asked them if I could miss a payment so that I could attempt to get caught up on my other bills. They gave me a one payment grace period, but raised and extended the future payment amount to over $1, 300 and I had to make four more of these payments.
    To make a long story short, we went into foreclosure, got financial counseling and PHFA was able to help us save our mortgage.
    In August of 2008, we sought assistance under the Bush program that helps homeowners get their mortgage loans "remodified." We contacted a company called First Universal Lenders. They were extremely nice and explained how they could help us. They charged me $1, 800.00 for their services with the promise that we would have a new mortgage, with a guaranteed fixed rate and lower payments. They also assured me that they would renegotiate our mortgage and be able to pay off our credit cards and my outstanding repossession note from Toyota.
    Well, six months and over $8, 000 later, I am still with Homeq Servicing, and will only get a fixed, low interest rate mortgage with them when I pay this over $8, 000 fee by June 30th.
    First Universal Lenders took $2, 700 from my checking account; $900.00 without my prior knowledge and authorization.
    I am fighting with them to get my money back and am still trying to get out from under Homeq Servicing.

    1 Votes
  • Do
    Doug Jan 27, 2009

    p.s. Pay your bills on time, and life is simple. Don't pay your bills, and you're a lousy deadbeat. Simple stuff, folks.

    0 Votes
  • Do
    Doug Jan 27, 2009

    If you are too stupid and immature to understand finance and mortgages, you should remain a renter. You whiners are the real problem in our society. Nothing is ever YOUR fault, is it?? Amazing the level of ###icness in our culture today. A mortgage is NOT rocket science, you fools. Just shut up and go away. Maybe it's your nap time. Pathetic.

    0 Votes
  • Th
    The Solution Jan 27, 2009

    HOMEQ is a company that handles many of its customers money. A bank that is disorganized and improperly working should be delt with. I feel the pain with all of you. To those that are in favor or defense of Homeq, you are in the wrong blog. Your pittiful and uneducated comments are sad. If you were a homeowner or had to deal with these ARM problems, then I would possibly listen. But you're not. So go away.

    My fellow freinds, Homeq is a weak and problematic company that takes no responsibility for its actions. Down with HOMEQ and all its employees! This company with be taken care soon...

    0 Votes
  • Do
    Doug Jan 22, 2009

    Many of you whiners are just looking for someone to blame other than your own laziness, ignorance, and trying to get out of making your payments. Grow up and make your mortgage payments, or face foreclosure. Many of you have no business owning a home. You're too immature.

    0 Votes
  • Ni
    Nikki Dec 22, 2008

    I understand all of your frustrations. My husband was laid-off back in February of '08 and couldn't find work until July of '08. I was late on many bills, but I put my priorities in line. House first. We were lucky enough to get unemployment and food stamps when my husband lost his job. We budgeted, lived off of our measly savings and did it. Yes, my cell phone was cut off, yes I canceled internet and cable, but you know what, I always paid my house payment on time. American's, in general, do not know how to budget money. You cannot blame your inability to budget on your bill collectors. It is human nature to place the blame in someone else. I have done this on many occasions. Yet each time I do, I try to step back, and say, "I will not do this again." We all need to learn to accept responsibility for our own actions.
    If someone owes you $100, and they say, I am going to pay you on Friday. What do you do when Saturday comes around? Do you just sit by and do nothing?
    As far as escrow accounts are concerned, I googled some info :) If you are behind on your taxes or if your insurance and say, your insurance policy is canceled (for whatever reason) your mortgage company has every right to take out a policy or pay those taxes. It is to protect their investments. What happens if an insurance policy runs out, or is canceled, and the next day the house burns to the ground? The mortgage company just lost a lot of money! What happens if your taxes are past due and the county/city/town decides to go ahead and auction off the property to pay the tax lein? The motgage company again, just lost a lot of money! Makes sense to me.
    Good luck to all of you, and I hope you come into better situations in the near future. I am very sorry you are all going through such hard times.

    0 Votes
  • Mi
    mike Nov 19, 2008
    This comment was posted by
    a verified customer
    Verified customer

    These guys sound like a bunch of terriosts. I'm a vet and a pround to be an american. I risk my life for people to have freedom and enjoy this great life we have in america. But it makes me sad that we have these kind of people living in the great usa. I think that all of these people should be stripped of their citzenship and kick out of this country. One for treason and two for killing the american dream. These people are no better than the taiban and -Al-Qaeda We cant win the war on terrisom if we have this kind of business being allowed to opearate in the good usa. So come on lets write our congressman start marching against this kind of practice. We need to start letting people know we want our country back and stop big business from ruining it.

    0 Votes
  • Di
    diklxik Nov 02, 2008

    I am currently with homeq, there for i am in homeq hell. I admit to being at fault for late payments at time. But with every intention of making it up. For which i am charged a penalty based on how late i am! I feel that to be only fair as long as all is fair as well. Now considering our national deficit that will never be paid back, and the political crooks in charge of doing that. I am pretty sure they will blame that debit on somebody like me? My only debit is my mortgage, i refuse to use plastic, its too easy to spend what you dont have. Now at a glance the complaints i read only they know in detail where they stand and why. If though i am penalized with mortgage payment hell based solely on being late than damn the U.S.A to hell. And that may be the case? ...But when a person such as myself is late and they refuse my payments that do bring me current than I think there is something wrong. When history shows a struggle, but one that is being delt with and evan brought current. Than it seems beneficial to every one involved to work with that situation. ...There is always some advice from someplace free of charge. And if there was no hypocrisy in the world it may be good honest valid advice. . .But for me personally i know that from the basement up to the top level of HomEq to be rotten to the core! They might have a small hand full of employees that are honest hard working human people. But only a few! None i have yet delt with though. They have started foreclosure on me many times. The last one I had sent two late payments complete along with the current month due. They received and stamped them so on the last day of the month and returned them. Forcing me into another month late. There forbearance repayment plan included the additional $2200. hundred for legal fees. OF WHICH IS A CROCK OF OLD BREWED SEWAGE THEY FEED TO EVERYONE! Now after paying that to them over a three month period at $2000. a month, $750. above my regular payment. I have been back to normal payments. ...And had slowly fallen behind, I know when i am or not. When i spoke to one of there reps. she said that homeq will always accept my monthly payment evan if it does not bring me current. (SHE DOESNT SAY WHERE THE MONEY GOES ! TO SOME HOLDING NOT APPLIED TO THE MORTGAGE) This i know from experience. . . .It was from her the first i had learned of some corporate advance fees i had owed, once she said around $4000 up to $8000, but they were forgiven not to worry ...??? FORGIVEN Nothing is FORGIVEN by homeq. I stated she was wrong and she replied that she would send the details.. . .Nothing has come! Now on Oct 28 i was about to western union two payments to them. It's worth the charge to have it documented. . . ..But just before doing so i spoke with another rep. of homeq. She said I was not behind, I only owed for the month of Oct. But some corporate fees of $1200+ were owed????? . .She also said that homeq structures there repayment plans to end me up a month ahead. Therefore having me current with my payment. So whats the corporate advance fees due ??? And Why haven't i received anything yet from the last rep i spoke with ??? . . Well here's what i have done, I sent the Sept. payment i believe due. and waited a day to send the Oct. payment. . .I can only imagine what they are up to, I am still waiting for the details of there corporate advance fees. BUT I PROMISE TO GOD AND THE HUMAN RACE I WILL NOT WAITE A SECOND TO PERSUE THEM LEGALLY THROUGH ANY MEANS I CAN FIND !!! I LOOK AT THEM AS CROOKED AS A POLITICIAN JUST LIKE THE FEDERAL RESERVE OF NEW YORK WHO REGULATES THEM ! THEY ARE SUBJECT TO IN-HOUSE REGULATION IN A SENSE!! THAT MEANS THOSE IN-CHARGE OF MAKING SURE THEY ARE OPERATING IN A LEGAL MEANS ARE ALSO EMPLOYED BY THEM AS WELL!!! BUT DON'T EXPECT TO FIND THE PAPER TRAILS, THEY ARE AS OLD OS OUR GOVERNMENT JUST ABOUT. SO REMEMBER WE THE PEOPLE BRINGING OUR DEBIT CURRENT IS NOT THE SAME AS THEM THE GOVERNMENT JUST BLAMING IT ON THE PEOPLE. . .UNTILL THE ABILITY TO REMOVE THE HUGE INFLUENCE OF MASSIVE AMOUNTS OF MONEY IS GONE IN POLITICS !!! GET USED TO GETTING SCREWED!!! IM SURPRISED THAT THERE HAS NOT BEEN SOME NEWS OF EXTREME MEASURES ON THE PART OF SOME OF THE PEOPLE BEING SERVICED BY HOMEQ??? Does anybody know of such???? FOR NOW I WILL WRITE CONGRESS AND EVERY COMPLAINT SERVICE KNOWN!!! BBB of who they are members! Its like a waste of time but i dont think it will be in the end AND YES ITS BARCLAY THAT SCREWED I MUST REMEMBER TO INCLUDE THAT NAME !!! BUT WHO OWNES THEM ????? I AM BETTING THE STINCH OF SEWAGE IS PERMANENT ON THERE BREATH. IT IS ALL THEY CAN TALK S#!^ !!! ANY WAY HAVE A GRATE DAY. :)

    0 Votes
  • Da
    Darlene Oct 06, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I have been dealing w/ those so called "people" @ HomEq for toooooooo many years, they are total liars and I wish that all of them could be put through what they enjoy putting so many others through. And for those of you who are sticking up for HomEq how long have you been working there? Oh can't give a stright answer, we know why!!!
    And Lord willing they and many like them will be stopped through the right channels, but then we would have to relie on our goverment, forget it, lifes hell.

    0 Votes
  • Ts
    TS Oct 05, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I have been with Homeq since my ARM loan was sold to them 2 years ago. It has been difficult ever since. I lost my full-time job in 2005, got behind on the mortgage payments and since then it has been a nightmare. Homeq isn't totally to blame but I did fax all of my financials months ago hoping to go back to the "teaser" rate but no one has contacted us and our rate is due to re-adjust Nov. 1st. I have spent countless hours on the phone with Homeq to no avail. I was told to think about a short-sale during my last conversation with a CSR. I am looking for help but it seems to fall on deaf ears with each conversation. It looks like I am going to have to call again this week so that I can see where I am in the food-chain. Our mortgage is affordable if we get back to the original rate. Why wouldn't they want to help get us there? I am so confused.

    0 Votes
  • Jj
    JJO Sep 12, 2008
    This comment was posted by
    a verified customer
    Verified customer

    According to Fannie Mae and Freddie Mac the mortgage crisis is not only being caused by subprime lenders but also by loans to people with excellent credit who had plenty income at the time to back up their home purchasing. Now everyone who has ever bought anything on credit knows that if you have good-excellent credit you are offered many different financing options including low interest rates, no/low down payment, no payment for many years etc etc etc. The people with bad credit signed away b/c they were just glad to get something they couldn't get before while believing they could refinance in 2-3 years. People with great credit signed for the same reasons but also decided we can make some real profit here. Then once every sucker they could get in took the bait, interest rates were raised. Homes were almost doubling in value which made it almost impossible for working class people to obtain a descent loan. This situation has collided with ARM and interest only loans becoming due. Now even people that paid their bills on time are about to be homeless within a year or 2. I think it is a combination of greedy lenders and a number of ignorant buyers not sizing up their own income and looking to the future.(I wonder what made most (not all) buyers overlook the fact that their interest rate may go up so high) Probably that lender, broker or realtor who were trying to make a profit and eased their clients' concerns regarding this issue. The bottom line to some of this is if you get an ARM or Interest Only loan you should calculate the highest possible interest rate or payment(research PREVIOUS YEARS interest rates). If your income does not allow you to pay the highest ratet comfortably and still eat you cannot afford that type of loan. One other tip is if you're married but the loan can only be obtained in both names do not borrow more than one income can support. This is especially helpful if a spouse gets sick, loses a job or dies. I know that's difficult to do b/c lenders always tell you that you can get 3 times your income. We are the ones that have to repay so we have to decide what's best by looking into the future and factoring in all of this. Everyone in the equation wants a cut but the borrower is always gonna be subjct to the lender and their practices. I wanted a big home as well but I'm glad I turned down a number of offers b/c I determined that I couldn't afford it. It takes time for some of us to learn not to be moved when everybody is yelling "it's hot" and "I gotta have it". And last thing is some people are feeling the crisis b/c of job losses, sickness and death. All of which are uncontrollable factors but nevertheless must be considered when buying ANYTHING. I wish everyone who is having this issue success as you overcome this obstacle. We all have to learn from it and keep moving and simutaneously control our desires to have everything NOW. Best of luck to all!

    0 Votes
  • Ca
    carpediem Aug 27, 2008

    They help people that help themselves. if you complain about the economy but refuse to rent a room or get a second job, why would HomEq be responsible? I would never refuse to get a second job and blame my loan servicer for the loan I signed, or blame them for my own personal economic situation. My husband and I have gone through very hard times but it is up to us to pull out, not our servicing company.

    I have a loan with homeq and have received help and information whenever I need it.

    ~you do not receive calls if you always pay before/during the grace period
    ~no one is going to say "give up your house" within 30 seconds. why would they do that? there is no benefit to them
    ~payments post according to when they are made. I've had one issue in the past but when I was able to prove what the issue was, they apologized, reversed my late fee and it never happened again
    ~THEY DID NOT ORIGINATE YOUR LOAN
    ~All calls are recorded right? If these agents are truly saying the depraved things you are saying they are, report it, request the call to be listened to!
    ~The person that posted "scumsucker" is just an example of someone who would probably twist what actually happened and say the agent was the rude one
    ~Pay your loan on time. If you can't, you will receive calls. Thats how it should be. Thats what is put forth in your original loan documents
    ~If there was enough founded information, HomEq would be closing down, not growing but the fact is HomEq is a good company
    ~Your account is never escrowed "before you had time to pay them." Most states have to have deliquent taxes for two installments before escrowed. If you are allowing taxes to be deliquent, then your account should be escrowed.

    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 . . ."

    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
  • 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
  • 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
  • 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
  • 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

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