Katrina Victim Abused by Mortgage Co

[2broke2go]

I live in the New Orleans metro area and my community was severely impacted by Hurricane Katrina. My mortgage company, Homecomings Financial, offered 3 months of deferred payments and I accepted. The deferred payments were for Sept-Nov 2005. Understandably, the paperwork could not be delivered before the deferred payments started. When the Deferment Agreement did arrive, I discovered ALL THREE deferred payments were due in April 2006. I placed a very distraught call to Homecomings and was told that I would receive refinance documents in Jan or Feb 2006. Repayment of the deferred amount would be done by incorporating it into the loan balance, resulting in a monthly payment increase of about $1. They assured me that the loan would be refinanced long before April.

The refinance documents did not arrive as promised and Homecomings finally told me that due to a "software glitch" they were unable to generate the refinance documents.

In April 2006, Homecomings began reporting to the Bureaus that I was 3 months behind on my mortgage payments!!!! Homecomings repeatedly told me that until I signed the refinance documents, I was 3 months behind. They said it was irrelevant that they could not provide the papers for me to sign!!! They continued reporting me as 3 months late until October 2006 when I finally received the refinance documents.

I needed to trade cars during that time but knew I would pay a ridiculous interest rate if I could even get a loan. I had to continue paying for repairs on my old car (about $2200) until they finally got around to sending the refinance documents. I repeatedly made Homecomings aware of the financial problems they were causing, and not just customer service staff. I paid for long distance calls to their corporate headquarters and went as high as I could get within their structure. I was told they were not responsible for my poor credit score or inability to get a decent interest rate, etc.

Do I have any recourse against them now? I think they have a liability for the expenses of keeping my old car running (morally if not legally) but have not had time or energy to do anything about it before now. I recorded many of the phone calls and can prove I made them aware of the problems they caused. I am furious that their offer to "help" Katrina affected customers turned into one more NIGHTMARE to deal with during an already very difficult time. I could really use the money, too. Help???

[burdettefamily4]

I dont know if this will help or not but Homecomings is the worst of the worst they are nothing but crooks.there is a web site called the ripoffreport.com or just pull up Homecomings and you will see all the people who have been cheated and lost thier homes. There is a class action lawsuit that is being put together all the info is on the rip off report.as far as your credit Homcomings did that on purpose to keep you from getting any refi should you ever want to change mortage companys. They ruin your credit and then raise your interest rates, knowing full well that you will have to pay or they get your house. I know because they are doing it to me. Good Luck

[Bailey3017]

Not sure if you will come across this thread again but maybe someone else will. I myself am in the process of finding out what I can do to stop or get away from Homecomings Financial. They are the worst as the previous poster stated. I have had nothing but heartache from them and what you posted that they did sounds classic from them.

[NotSoGoodAtProSe]

I don't know if this link will show up. Good Luck!

[NotSoGoodAtProSe]

http://www.consumerwarningnetwork.com/2009/04/24/produce-the-note-3-little-words-to-save-your-home/

[Bailey3017]

Thanks for the link, wish I had that information when dealing with Homecomings back in 2006 and I ended up filing CH13 to pretty much save my home from them. They are a nasty group of people to say the least! Looks as though still fighting.