Has anyone else recently tried for a loan modification with Homecomings...

  • Thread starter Thread starter aboutowne
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aboutowne

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...Financial and ended up in default? After 8 months of a comedy of errors, I finally receive my papers for Homecomings via FedEx . What they offered was unacceptable. I sent the papers back unsigned with a letter declining their offer. It seems they can not get my payments applied correctly since. Now they say I am in default status. Has anyone had similar results with Homecomings?
 
GMAC company. You should not be in default because your original loan and payment obligations stay in effect until the new paperwork is finalized and signed. If they dragged their feet, knowing you were in trouble and needed help, I suspect they delayed processing the paperwork to cause a foreclosure. Did they tell you you don't have to make payments because your are modifying your loan? That's a ploy to force you to sign unacceptable terms (21% interest) to avoid foreclosure.

However, reading this complaint site: http://www.complaintsboard.com/complaints/homecomings-financial-c4149.html I think Homecomings Financial has major problems.
 
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