I am writing to report on one of EMC's asset manager's unethical foreclosure practice. Mr. Jon E.
One week before the actual settlement date (Jan 16, 2009), I was notified that the title to the house that was on contract could not settle due to title not being clear. By this time I have already spent about a thousand dollars to get to settlement. I waited 30 days for the title to cleared and tried to communicate with Mr. Jon E via the selling/buyer agents about rescheduling settlement date and concessions due to this major issue. Mr. E refused to respond even after 30 days after the settlement date. So on Feb 19, after several attempts to get a respond from Mr. E on the continuation of the contract signed on Dec 16, 2008 I had to send a VOID notice due to my loan expiring and poor customer interface from EMC Corp Bank Asset Manager Mr. Jon E.
Mr. E was very quick to relist the house on the market at a $15,000 reduction ($204,900). However, has not signed my earnest money release. I rebid on the house at $212,000. Mr. E insisted on my signing of the release that is more favorable to him before he would consider my bid. I have proposed alternatives to this problem as 1) get addendum on signing releasing after EMC accepted my offer or 2) concurrently settle and sign release at settlement. Mr. E continues to refuse to work with me to proceed to settlement. I understand as an asset manager his job is to help the bank make money. However, ethical conduct, fairness to the consumer, and good customer service (i.e. good public relation) are still part of the foreclosure transaction market. He has conducted poorly in all three areas and has treated me unfairly.
Now he is tying up my earnest money and won't release it unless I sign a release that waiver any monetary liability from them. Total unethical.
Do not do business with EMC Corp or deal with Mr. E
Great mills, Maryland