EMC Mortgage ripoff Irving Texas

EMC took my home from me! I fell behind on my payments after husband had a serious motorcycle accident. I was going to file for bankrupcty but decided on calling the mortage company and asking for help. EMC put me on a payment plan, but before beginning this plan, I needed a down payment of 2800.00, remember in financial strain but I came up with the money. The plan was for 1 year @ 1100.00 a month. My regular house payment was for 550.00. I made those 1100.00 for 4 months, then again I called and explained I can't do this any longer. EMC said either we'll forclose the home or we can put on another payment plan. I went with the plan, another down payment was needed, 2900.00. I sold a classic, running 1968 Ford Mustang to get this down payment. They lowered the monthly plan to 800.00 a month. After keeping this arrangement for 7 months, I couldn't do it any longer. This company took approximately 10,000 dollars from me in 1 year. This happened in 12 months. After all this, they still said I was behind 12,000.00 dollars. How this adds up, I don't know. They said I was behind 14 months. I adds up to 7700.00, the additional cost they said was for attorney fees and courts fee. This I not right! No one cares over there! They forclosed on my home in January 6, 2004. My husband told me numerous times that something is not right over there and that someone is pocketing the money. I can't argue with them, their attitude is that there right and I'm wrong! I'm kind of surprised to see these articles about my ex-mortage company. I wish something could be done about this. I lived in my home for 8 years. I bought the home for 45,000.00, when they forclosed on the home, they said I owed 43,000.00. I also put 5000.00 down when I bought the home, leaving my balance 40,000.00. I honestly also feel that my husband and I were ripped off as well.

Im going to a Lawyer Monday, I have to stop our sherrif sale thses people lied talling us all the time they were working with us and kept proceding with the sale. They also have numerous paymnets very large 20,000 paymnets NOT credited to our account, weve paid them about 40,000 the past 3 yrs had a 121000 mortgage and they say the payoff is 140600???

Hubby wants to claim bankrupsy Im going to try and stop it with their predatory lending pracitices, we are selling the home anyway so Im just going to stop the sale long enough to sell it, but on the open market, its now worth 280000
Double what we paid I want ALL of my equity.

Please contact me together we can recoup they have been suied in differnt states for predatory lending NC and VA and settled a few times.
Good luck to you all, I hope your OK
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I HAVE JUST READ REGINA'S COMPLAINT, WHAT I DON'T UNDERSTAND IS IF YOU WERE IN SUCH A FINANCIAL BIND TO BEGIN WITH HOW DID YOU GET ALL THAT MONEY WHEN YOU WOULD HAVE BEEN BETTER OFF TO DEAL WITH THE $550.00 A MONTH HOUSE PAYMENT. SEEMS STUPID TO SPEND THAT MUCH MONEY WHEN YOU ARE IN SUCH A BIND. DOES NOT MAKE SENSE, I FEEL LIKE YOU JUST WANT TO BASH SOMEONE OR COMPANY BECAUSE OF THE POSITION YOU HAVE PUT YOURSELF IN, IF YOU ARE CALLING TO GET HELP BUT HAVE TO COME UP WITH THAT KIND OF MONEY FOR A PLAN, TO ME THAT IS NOT A PAYMENT PLAN AT ALL. I WOULD HAVE STUCK WITH WHAT I HAD IN THE BEGINNING. SUGGESTION: USE YOUR HEAD AND DON'T LET PEOPLE TAKE ADVANTAGE OF YOU IN THE BEGINNING.

I got into a little bit of trouble when I didn't transfer money in time to cover the check. They presented the check four times to the bank after I had made a telephone payment at realising my error, it was two days late. I then paid anoth two payments during the month of September to bring me up to and early payoff for October. They never acknowleged one of the three payments instead focusing on the returned and late payment. They still have not confirmed it and now won't respond to any phone calls, just passing me around from operator to operator who constantly ask for the same info to be mailed marked for their attention, twice I have done this, faxing off bank staements to get this sorted out asap then ten days go by and they claim that "You have never sent anything". The address that is handed out is a PO box which couriers will not deliver to therefore making it impossible to have a recorded transaction and proof they have received the paperwork. I did find a postal address and as of yet have not heard anything in writing.

Meanwhile they have been asked not to contact me by telephone anymore as I want a written record of this disagreement until it has been sorted out which they have responded by filling my answer machine with daily messages that start "EMC customer service representatives are busy please hold "

When brought to there attention that the payment that they claim was returned, was indeed funded by the bank, they claim the bank is wrong and refuse to investigate.

If they won't give me dates that match my bank debits, won't give me check numbers (instead asking for the info then ignoring it) Giving false information (ie one girl claimed that early payment of the loan would require 20% of the balance) claiming that the calls don't go to the same office therefore you can't ever deal with the same person on your next call, losing bank statements, losing personal information and basically doing whatever they like and telling me that they have 60 days to actually do anything about anything sent in writing and all the while that it is in dispute they are over-rule anything that the bank states.

When given dates, one representative shouted at methat the dates I was giving him don't even match what was on his account, therefore my dates were wrong.

When pointed out that the telephone reps give out different info than the automated service and that is different again to the mailings that get sent, they claim technology is at fault, as the automated service isn't as up to date as their monitors. Surely the automated service is connected via there computer system?

The point is that EMC are trained to lie, lie, lie, and will constantly tell you that you are 2 weeks/ months away from success while the suck you dry and have absolutely no intention of helping you, and won't contribute your payment to your loan ammount. I read many, many posts like this before I started dealing with them and had the exact same experience. I was telling myself that it only happened to stupid people and it would be different for me. I am a real estate agent! I have a degree in Busines. I am not ignorant, it happened to me and I had the backing of a "credit counselling agency" who couldn't get any more results than I could. This company was set up by Bear Stearns specifically to sell the more dodgy loans to ripoff consumers under another label so as not to affect the "good" Bear Stearns name. Ironically Bear Stearns are gone out of business. EMC ARE a preditory lending service. Anyone who works for this company has first hand knowledge of the training which includes lying to customers at point blank. They are very well trainned and told me for 12 months that I was a few weeks away from success, month after month. Now they can have my home and shove it up their wazoo. I will never do business with this company again and I will advise every client I have to not touch them either. And inevitably somewhere down the line they will change their name and package up the same crap loans for the general public and apply the exact same extortion tactics. If you have been a victim of this company - don't feel stupid. They are using every trick in the book to extort money out of people and employing illegal tactics, while the government does absolutely nothing. EMC mortgage corporation are a preditory lending service. If they try to foreclose on your home ask them to "produce the original note" (which probably was originally made with Bear Stearns and is lost in some warehouse). They won't be able to produce it and you will be able to keep your home. The sooner EMC are shown up for what the scumbags they are the better. EMC YOU lose! Now take my old rusty A/C, damaged roof, bad garage door, mold in the bathroom, (because of my neighbor's leak), home owner association dues, 130,000 upside down mortgage and deal with it! You just outsmarted yourself. I tried to work with you for over a year in a totally professional manner, now I am going to file bankruptcy and buy another home and there is not a damn thing you can do about it. Power to the people.