GMAC Homecomings Financial

For the past 8 months I have been asking for help with restructuring my mortgage due to my divorce. Giving them ample time to provide assistance. I finally started missing payments and they agreed to start a 3 month trial period towards modification of my loan. However, over the past 3 months I have been subject to misinformation, incompetent customer service reps, claims that they are not receiving the requested paperwork. Gmac's problem is their right hand has no clue what the left is doing. I received a notice that I was being removed from the trial program for not making my payments yet when I call to ask why, the rep tells me there is no problem. Then I get a letter in the mail that I am going into foreclosure proceedings, and a week later I get paperwork congratulating me on being approved for the loan modification. When I call to verify this I am told that there are putting in on another 3 month trial because they don't have 2 current pay stubs. THEY NEVER ASKED FOR THEM. I did send them 2 current pay stubs in April when the whole process started. And now its been over 3 months and we are not any closer to completion. Actually its back to square 1! They actually raised my mortgage payment during the 3 months trial period, that makes no sense. If I couldn't afford the original payment why would I be able to pay a higher one? Geniuses! They claimed it was due to es-crowing the taxes and insurance, it was already es-crowed. All they seem to be doing is making excuses so they can just get another mortgage payment, if they continue to string me along they will be getting my house for Christmas this year, and then they can my the payment!

Posted 09/29/09 | Report Abuse

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Homecomings GMAC is a horrible company. They put me in foreclosure while I had been working with them providing all requested documentation. They would lie to me repeatedly, claim they didn't receive information, different customer reps would contradict one another. My payments are never reflected. I would be speaking to reps in India who did not understand the language and vice versa. This company should be investigated by the federal government for breaching all consumer protection laws and fraud. I am still trying to work through this mess. NEVER USE THIS COMPANY!

Posted 07/18/09 | Report Abuse

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I ditto all the negative remarks from the previous homeowner's remarks of 4/2008.

I was in default. Forclosure proceedings were filed against me. I asserted a request for a review of penalties charged, plede Katrina problems to no avail. I made arrangements with the attorney, made every payment of $1500 a month, paid the arrangement off early, continued to pay the additional $700 a month and then start getting letters that I am behind. Ask were my payments had been applied and got a copy of their accounting records which they couldn't even explain. Got a letter saying payments were 1600 and e-mailed them again asking why and where my payments had been applied and they responded with a letter telling me my payments were 1342. I had one payment they never received until I gave them the money tracking no. from western union. I can't find out if they did not apply another payment in error. 9/2 get a letter I am 2980 something behind. Next I receive a letter my monthly payment is 994. Then 9/10 a letter saying I am 3300 something behind. Man on phone tells me my payment at one point was 892 and I was paying 1500. How am I behind? They want to do the foreclosure thing again. I paid 18,000 in interest last year!!!! I didn't make much more than that.

Posted 09/18/08 | Report Abuse

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Over the past six months, my account has been systematically
forced into delinquency by the predatory servicing practices of
Homecomings Financial. These events are well documented and
plainly indicate a deliberate effort by Homecomings to expedite
the foreclosure of my home. CASE IN POINT:

My online account is routinely unavailable- usually on or around
my payment date- which prevents me from using their electronic
system. Billing information is inaccurate or out of date and any
attempt I make to bring my account current is counteracted by
such tactics as delaying or reversing payments, applying them
retroactively to cover those they've delayed or reversed and
refusing payments that would cure the default.

Also well documented are my repeated attempts to get assistance
through their fictitious Loss Mitigation process- a calculated series
of roadblocks erected to create a paper trail for the company while
keeping me from recourse by making it appear as if I've been
unresponsive to their contrived outreach efforts. CASE IN POINT:

They continually send letters requesting that I call to discuss my
options, schedule meetings or fax information but when I do, I'm
referred to someone who's on vacation, my call is dropped during
transfer, appointments are no longer available or my fax is never
received.

Their methods are transparent and though I find it unbelievable
that a company would victimize it's customers so ruthlessly, the
facts speak for themselves. There are hundreds of complaints on
the internet and in the courts from similarly situated individuals
who's experiences establish a pattern of abuse by Homecomings
that insures the company's profits at the expense of the borrower.

I have filed complaints with the FTC, the Attorney General, the BBB
and various other regulatory agencies and I urge anyone who has,
or suspects they have been victimized by this company to follow
suit. I don't know if we can save our homes but perhaps we can
prevent further harm by boycotting Homecomings until they take
responsibility for their devastating actions and address the situation
appropriately.

Posted 04/26/08 | Report Abuse

2 out of 2 people found this review helpful.

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If your looking to refinance or a company to service your loan, i would choose GMAC Homecomings. They provide very good customer service because they do what is promised. When you realize that you can't afford to make any more payments, they help you out with it. They have programs to set you up on temporary employment, or set you up repay plans, or they even have a credit counseling service. I feel very well cared for under Homecomings.

Posted 10/20/05 | Report Abuse

0 out of 2 people found this review helpful.

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