Home Eq Servicing Complaint - Foreclosure - Mortgage Servicer

Review by cannotcatchup on 2008-10-09
15697 -- Home Eq Servicing, a California based mortgage servicer, is not at all interested in avoiding foreclosures or helping people stay in their homes. I contacted a Hope Counselor several weeks ago, Home Eq Servicing refuses to put anyone in touch with these Hope negotiators, and refuses to do loan modifications, forbearance plans or reasonable payment plans.

The representatives at Home Eq have no sympathy for hardships and lie their way through each conversation. They create fake names, and charge enormous late fees onto their defaults preventing anyone from becoming current. Upon my request for a modification, I was told by a Home Eq representative that they do not do modifications. However, a Hope counselor requested one for me and I received a letter of denial, I phoned them to find out the reason for denial....I was told; "you do not meet our investor's criteria." HMMMM.. the same investors the government just bailed out? Well, my home goes into foreclosure on Monday, and the only choice I have is to pay an attorney $3200.00 for chapter 13. $3200.00 I could be paying to my lender over time-Does this make sense? I wish a representative from Home Eq. could be here when I have to break the news to my children that our house is in foreclosure. I am not asking them for money, just a payment plan I can afford even if it means extending the terms of my loan.

Once again, it is all about them, never about the average people.
Comments:2 Replies - Latest reply on 2008-10-21
Posted by Suusan B. on 2008-10-09:
Go to the Home Eq Servicing website www.homeq.com and look under "Repayment Options and Foreclosure Alternatives". If you qualifiy for any of their programs then you need to press the issue with them. But keep in mind that this company is only a mortgage servicer for subprime mortgages and they are not a mortgage lender and do not have the ability to refinance loans.
Posted by ymeliz on 2008-10-21:
I am currently in the same situation. and waiting to hear back from Home EQ, to see if they are going to modify my loan. You posted a week or so ago, so it doesnt look good for me. I will keep you updated. What did your hope counsler say was the next step? What state do you live in?

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