Dianne
11-26-2008, 09:19 PM
I purchased a home 13 months ago, with the promise from Homecomings Financial for a Home Equity Line of Credit. In good faith, I entered into this purchase knowing my HELOC was there in the event of an emergency. Months after the purchase of the home, Homecomings sent a letter saying that due to declining home values, they were reducing all HELOC's, so as a result my emergency blanket was no longer there.
I would like an investigation, I would like Homecomings to purchase my home from me at the cost and equity I put in. As mentioned, I would never have purchased this home without my safety net behind me, and months later that safety net was pulled by Homecomings. I do believe Homecomings is guilty of fraud, misrepresentation, and baite and switch..and I demand a rescind of the contracts I am currently bound too. I do believe that Homecomings Financial provided me with a false sense of security, in order to purchase a property from their sister (parent) company, GMAC Mortgage.... only to then take that security away.
Just curious if we can fight these bastards, that we are now bailing out?
I would like an investigation, I would like Homecomings to purchase my home from me at the cost and equity I put in. As mentioned, I would never have purchased this home without my safety net behind me, and months later that safety net was pulled by Homecomings. I do believe Homecomings is guilty of fraud, misrepresentation, and baite and switch..and I demand a rescind of the contracts I am currently bound too. I do believe that Homecomings Financial provided me with a false sense of security, in order to purchase a property from their sister (parent) company, GMAC Mortgage.... only to then take that security away.
Just curious if we can fight these bastards, that we are now bailing out?