Behind in mortgage payments

vondevan · Joined: 22 Jun 2007 Posts: 10 4.96 Dollars($)

My mortgage is through Homecomings Financial.

Back in February when I told the representative about my situation, that's when I was told they could not do anything. I was advised last month to ask for a forebearance, I did and was turned down again. I believe I was told that since they had already sent a letter informing me of my default status, the forebearance was not possible.

I definitely believe I need assistance/advice from a counseling agency. I was very surprised they were not willing to work with me. I told them I reduced my expenses (cable, cell phone, home internet service) and was trying to increase my income by looking for a second job (at that time my second income came from working at my church on Sundays in the Finance Office)...since then I've added another job a grocery store chain. I've been working there for two weeks and should be receiving my first check this Thursday.

Niicss · Posted: Sat Jun 23, 2007 6:08 pm Post subject:

I too feel counseling agencies will be able to provide you with some help in convincing Homecomings Financial to agree to some kind of forbearance plan.

Get in touch with some of them at the earliest and tell them about your position and the efforts you are making to increase your income.

Niicss

Caron

Hi vondevan,

I can understand what you're going through right at this moment. But hey, just don't worry; have patience.

It's good that you have informed the loan company that you are into reducing your expenses just to pay off the loan they've offered. This will make them feel that you are trying to make the payments.

Now, what I shall suggest is that you can make a single payment and then request them to suspend the payments for some time. In the meantime, you can gather the funds required to make the payments.

However, if they do not wish to suspend payments, then I don't think there's any other way left for you than to sell the home and look for a rental. I know, you may be depressed if I say this, but then they aren't willing to do forbearance, so selling the home then becomes the only option here.

May god help you overcome this situation

vondevan · Joined: 22 Jun 2007 Posts: 10 4.96 Dollars($)

Thanks everybody. I have a number of leads to try to contact...Miller gave me a great source of HUD approved counseling agencies in my metropolitan area, that better than another source which only had regional offices--my regional office was in Atlanta!

By reducing my expenses, I have cancelled my home internet service--so I try to squeeze in a few minutes during my 1st job to post comments.

I will stay in touch as much as I can.

miller_st · Joined: 17 Jan 2007 Posts: 917 168.84 Dollars($)

You are doing your best to cut out expenses and make the payments more affordable. That's very good. The link I sent would be helpful for you in locating a counseling agency in your area. Contact them at your earliest to get the picture of where you stand in terms of your loan.

And keep us posted on what happens so that we can give further advice to help you out. Smile

Miller

vondevan · Joined: 22 Jun 2007 Posts: 10 4.96 Dollars($)

Miller,

Thank you and everyone who responded to my cry for help. I am truly grateful I found this site.

I will call on the local agencies and I will definitely keep you all up to date and any and all progess.

carnahandavid · Joined: 21 Dec 2006 Posts: 239 58.41 Dollars($)

Vondevan, we would really feel great if you can come out from this position you are in.

With the amount of action you are taking to increase your income source and cut on expenses you will be able to come over this crisis situation.

vondevan · Joined: 22 Jun 2007 Posts: 10 4.96 Dollars($)

You guys are a great source of encouragement. I have told several people about this site...

miller_st · Joined: 17 Jan 2007 Posts: 917 168.84 Dollars($)

So what happened Vondevan. Did you call any counseling agency.

Miller

Niicss · Posted: Tue Jun 26, 2007 2:24 pm Post subject:

I would also be curious to know about the reply you get from the agencies. Hope it works out well.

Guest 0.10 Dollars($)

read these, it sounds that your mortgage company (Homecomings Financial) is not so good:

(ripoffreport.com/searchresults.asp?q1=ALL&q4=&q6=&q3=&q2=&q7=&searcht ype=0&submit2=Search!&q5=Homecomings+Financial)

(complaintsboard.com/bycompany/homecomings-financial-a3276.html)

Caron

Yes Leskinen, I have come to know about a lot of complaints against Homecomings Financial. It's all about predatory lending practices as well as other fraudulent charges against the company. Indeed one should think twice before accepting a deal with such a company.

All times are GMT - 7 Hours
Previous 1 2
Page 2 of 2