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However, Samson Hewett halved the deficit for the home side in first-half injury time.
Halesowen equalised early in the second half through Jason Cowley before the same player scored an injury-time winner to complete the turnaround.
The result means Leamington sit 20th in the Southern League Premier Central table, three points from safety in the relegation zone.
Legendary former Leamington boss Holleran stood in the Halesowen dugout following the recent departure of Yeltz manager Russ Penn.
Leamington broke the deadlock on 17 minutes when Finn stabbed Kai Tonge’s initial effort into the net with Dan Platt beaten.
And the visitors doubled their lead three minutes before half time as Belmonte charged into the box to bundle Callum Cockerill-Mollett’s low cross into the net to score his first goal for the club.
However, the Yeltz responded at the end of the first period when Hewett swept home a cross from the left to give the home side hope.
And Halesowen equalised just four minutes after the break as Cowley pounced on a loose defensive header to take the ball wide of Brian Okonkwo and fire home from a tight angle.
The home side completed a dramatic turnaround one minute into injury time when Cowley darted clear down the left and found the net from a tight angle.
Leamington are next in action against Peterborough Sports on Saturday, October 31 with kick-off at 3pm at the Our Coop Community Stadium.
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