Last year, in late 2008, we contacted EMC in an attempt to modify our loan with them. After a dozen or so papers were faxed to them, at their request, we waited. And waited. No contact, and we started to try calling them. As you can imagine, you get put on hold. Again. How convenient.
We left messages. More messages. Finally, when we were able to get through, we were told that some documents were missing. We sent them the "missing" documents. We discussed all this, we discussed why they (a Thomas Bailey) did not call to inform us of this when he had been aware of it for weeks.
Of course you get nowhere, because they think you are a deadbeat. Or at least that's what they attempt to make you think. And all the while, another payment, then another, comes due. And they know it. Hmmmm.
So in the end, after all this, we are denied the loan modification. After the rude behavior from the rep, I had expected it. But this guy didn't have the manners to even call us to let us know this.
We finally called him, and somebody else said that he denied it. He could have done the modification, without documentation from us, just like the rest of the banks are doing for others in this mess that the banks created, but he just didn't want to.
So we kept making payments, and the last one was in January, 2009. Then we did not see any more envelopes in the mail from them, with the next month's payment stub/coupon in it. Every month, since 2005 when this was purchased, an envelope faithfully arrived. You've got to wonder a bit about it. They say they mailed it out, but that it was returned to them by the post office.
I called EMC again on their convenient 800 number in late January 2009 to ask them to get a payment coupon to me, they say they'll mail it out, but they do not mail it. I called again, maybe a week later, go through their nice phone waiting game because they don't want to pay a real person to be available right away, but still the envelope doesn't arrive. Again I call, maybe a week later, they say they'll mail it again, but it doesn't show up. Again.
So now it's Feb 16th, and after this date the payment will be late, and I've never been late with them yet. They have NEVER called me to see about this payment up to now. I call them, again, go through their convenient crap of waiting for them to get somebody on the phone, finally get a real live person, and tell the rep. I want to get this payment in before the day is over to avoid a late fee. He says there will be a $10 charge for this, and there is no guarantee that the payment will go through by the end of the day, and that it may go through in 2 minutes or up to 24 hours.
I tell him the story, and could he see if he could be sure this will avoid the late fee, and I also ask if he could waive the $10, since it was me that was pursuing all this. He leaves, checks with a more important person, and comes back with "no, we can't do that".
So I tell him that we can't do business today, unless EMC does the right thing here. He goes through the bad credit scare tactics that they try, and all that, and we don't do the payment.
So........now it's a situation where a bank feels they can bully us into more money for them. Remember now, it was them that got this country into this mess in the first place, but they want us citizens to do all the monetary suffering.
Now EMC is calling me, which is what I was doing for a month,trying to get in contact about this payment. They call every few days, try their little threatening talk about bad credit, and I tell each rep the same thing. Mail the payment coupon, like you said you would three times now, and we can have a record of it at our place, and you can get paid.
Last week (about Feb. 25th, 2009), a fairly polite young lady called us on this, and I told her to get that mailed to us, and she said she would.
Today (March 4, 2009), a less-than polite young man called to get it electronically done right away, and while he was attempting to scare me into paying right now, I felt it was prudent to educate him on the merits of avoiding interrupting a conversing customer that has been up front with this whole payment thing, and to, again, mail the payment coupon out so we can get this behind us. This time, though, because of where the blame lays at his large company, there should be no late payment fee attached to it. He didn't agree, which was at this point no surprise to me. I said that was too bad for all concerned, which I'm sure was a surprise to him.
So we are at a standstill. I can short sale this thing, and probably stick EMC for tens of thousands of dollars in the process. Oh, I'd take a hit a bit myself, but in the interest of teaching a in ethics, this is an option that I have now put on the table.
Or I could just stop paying altogether, and lay the blame on a couple of select very rude individuals at this evidently very important institution that probably still feels it is too big too fight. This option would, of course, also cost EMC tens of thousands of dollars. Also an option on the table.
EMC started this, thinking they could walk all over people. Now EMC is thinking they might end up with the place. After looking over their website's list of foreclosed properties all across the country, I doubt they want still another one. Maybe I'll just let it go, and then buy another one at the distressed prices we see today, and we'll come out ahead, and EMC will still lose. With money from the IRA, this is looking too much like an opportunity. The problem they have now is this: we know they don't want it. And they know we don't much care.
So get that payment coupon mailed out, EMC. Like I said back in January. And without the late fees. Or, we go the other road, and, well, you get the picture. And you can take your medicine for your part in the mess the banks have made of this economy.
Emc is running scared now
Parish, New York