Marsha,
Thanks for the information. After threatening to take HomEq to court, they agreed to take another look at my information - they could not find the 1st 3 years of our payment history, etc. so they re-amortized our loan. The 15 year loan ended May 10th and originally they were saying that we would owe around $16,000 come May 10th - after their reamoritization, the amount came down to around $3500 - my husband just wants to get this over with, so we are going to pay the $3500 just to close this mortgage and get out from under the incompetence of this company - I know we could do a suit since they are obviously in the wrong but the hubby does not want to go through all of that.
Denise

Jeff / Denise
I am a California HomEq borrower who received a HomEq serviced loan in 2006. My rate re-set in late 2008, but they quickly agreed to modify. They had set the terms and outlined them to me on the phone, sent out my modification letter and asked me to FedEx $8,000. After everything was VERBALLY acknowledged as having been received, including my cashier's check, they said they would send me out the agreement soon - to be patient. They still needed to set up the escrow account, but "that takes time". My new payments were to start in January 2009. By the end of January I still couldn't log in to my account to pay, had not yet received the contract, had no payment vouchers - so I called to ask how I was supposed to pay... They said they would fax the contract to me, as somehow it appeared I'd never received it! On Feb. 02, 2009 a copy of the contract was faxed over (dated Dec. 10, 2008). I was told the modification was accepted, but could I FedEx the signed agreement back? I did. I also sent with it my January and Febraury payments. Payments were cashed and I have my FedEx signature verification page. I then continued to make EVERY payment. In June they told me they needed to have me sign a new modification contract because they had no record of one. I volunteered to send them a copy of the signed contract. They had a "better" one for me to sign now, that dropped my rate more than the one that didn't exist. I told them that it also mysteriously added around $20,000 to my current principal balance, and that they would need to honor my contract. I continued to make my monthly payments, but in October 2009, they sent my payment back and said unless I signed a new agreement, they would foreclose. They admitted they'd made some mistakes, but we needed to just "go forward and forget about the past". The mistakes have continued. I'm sending QWR's each week, and at this point I'm preparing my initial complaint to file. I'll be happy to help with any case you have if you would like substantiating evidence of their incompetence and possible fraud. Marsha Jewell

Live in PA and had original 15 year loan with 1st Union (now part of Wachovia) HomEQ started servicing the loan in 2000 (as far as I know - it is not a subprime) we have a fixed rate, 15 year conventional mortgage. Homeq has notified us that the loan ends on 5/10/10 and we still owe $12,000 - this after 15 years of payments - even the 1 customer service person I managed to speak to at Homeq said this seems high - I have tried to get documents from them to no avail - they say records are lost, etc. and if we do not pay the 12,000 in May they will forclose - any ideas, suggestions,e tc.
Thanks
Denise