Homecomings

[columbusw]

Your story is similar to mine to the tee and incidentally it is with the same lender Homecomings.They agreed to modify our loan in Nov 07 after we were asked to pay a month's mortgage through western union.
We stayed in touch with them at least once a month to enquire about the status and we were always told that they are working on it. We eventually recieved a mail from them hoping that it was the agreement that was enclosed however,it was a letter asking us to send the same information that was provided to them three months earlier. We complied and the wait game started all of over again. Then on the first week of may we received another letter asking for the same information,this time even though we were concerned about what's going on over there we nevertheless complied once again.
A week after our compliance we received a voicemail from Homecomings asking us to call. We finally called and we were told that we were not qualified for modification because our income is $200.00 less than our expenditure. That was when we were informed that our home is going back into foreclosure and we eventually received a letter form their attorney stating the same.
We are now dealing with them through a counseling agency inorder to forstall the foreclusure schedule for 05/22/2008.
It seems that for the most part the left doesn't know what the right hand is doing over there. Why is it called loan modification when ther are incapable to provide temporary or permanent relief to borrowers in distress like us. Zakmal

[Moe Bedard]

Hi columbusw,

Welcome to the forum and thank you for joining.......

To even be considered for a modification one would have to show a surplus of $100-$250 for the household income versus the household expenses.

Good Luck with the modification..........I hope it all works out for you.....

[columbusw]

Thanks very much ***. However,any suggestions on how to forstall the foreclosure process until they are able to review all the documents. I am currently working with a counseling agency but they are moving too slow for us considering that time is running out.They received our paper work since last wednesday and uptil now I've not heard anything from them except over the weekend when I received a call that hpefully they would get word for me today.

[columbusw]

Can someone kindly post the phone number or numbers for the loan modification dept of homecomings. I have hired two unscrupulous counseling companies that did nothing for the funds they collected from my family.I am now faced with a situation where I may have to seek protection with chapter 13 whilst I try this on my own as I don't who to now trust to help my family.

[Moe Bedard]

Hi columbussw,

Homecomings has one contact number here is the one........

Homecomings Financial
2711 North Haskell Suite 900
Dallas, TX 75204
800-206-2901
800-399-2690 fax

[columbusw]

Thanks ***. I have just gotten off the phone with the loss mitigation dept of homecomings. The lady who answered my call was very nice indeed and she told me the only way a foreclosure can be prevented is for me to pay at least a month's mortgage. This action would prevent the foreclosure and may qualify us for a modification.However, I 've just started a new job and I am yet to have any savings to pay anything at this time. However, I think I may have to fall back on chapter 13 bankcruptcy whilst I 'm working on raising the funds.