• Report: #320213

Complaint Review: EMC Mortgage Or Bear Stearns Residential Mortgage

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  • Submitted: Sat, March 22, 2008
  • Updated: Sun, March 23, 2008

  • Reported By:Houston Texas
EMC Mortgage Or Bear Stearns Residential Mortgage
909 Hidden Ridge Dr. Ste 200 Irving, Texas U.S.A.

EMC Corporation, Bear Stearns Residential Mortg.. the Non Holder Of The Mortgage NoteEMC Mortgage Or Bear Stearns Residential Mortgage Foreclosed and they do not own the mortgage notes Irving Texas

*Consumer Comment: My Experience With EMC

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EMC or Bear Stearns Residential Mortgage has been sued and there is a lawsuit pending that is class action status: Here is the info and it is also contained on MSFraud.org under the legal lounge.

Scott Rodriguez Dejay, Nisha Modica and Tammy Smith are the main plaintiffs listed and it gives way to other class action plaintiffs that have been harmed by EMC and Bear Stearns.

The Case # 3.07CV1816(JCH) was filed in civil cout in Connecticut as that is where Bear and EMC Corporate is located.

In a nutshell EMC at Bear Stearns direction targeted Minority homeowners and purchased their loans because most of them were considered subprime or as EMC and Bear refered to in manuals as 'scratch and dent'. They then used deceptive practices including force place insurance, lost and misapplied payments, paid taxes that were in escrow late throwing the borrower in deliquent status etc, etc, and you all know EMC and Bears sordid history.

There is a hit list of charges in the lawsuit. One of the attorney agencies names as representatives for plaintiffs are James Hoyer and Associates, their number is 1 800 634 0877.

If you believe that you have been victimized by this company give them a call, others are listed in the lawsuit as well.

Isn't it a nice feeling when justice prevails and that these crooks are about to get what is coming to them and are as we speak, and their mighty company Bear Stearns going down in blaze of shame this past week. Too bad the Fed couldn't just let them go down for all of the hateful, spiteful and shameful way that they have targeted and treated people now and in the past. The only other thing that could be perfect is that the attorney agencies that do Bear and EMC's dirty work will get theirs too.

Where is the justice?
Houston, Texas

This report was posted on Ripoff Report on 03/22/2008 01:39 PM and is a permanent record located here: http://www.ripoffreport.com/r/EMC-Mortgage-Or-Bear-Stearns-Residential-Mortgage/Irving-Texas-75038/EMC-Corporation-Bear-Stearns-Residential-Mortg-the-Non-Holder-Of-The-Mortgage-NoteEMC-M-320213. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 Consumer Comment

My Experience With EMC

AUTHOR: Cory - (U.S.A.)

Appox. 5 years ago we received a phone call from EMC telling us they could lower our mortgage payment. They sent out some kid on a Wed night. We were interested in a 15 year note. I was talking to my present loan holder who was dickin around. The kid tells us our note will be around 5.75% for 15 years, takes a $250 depsit and tells me I'll get the truth in lending statement in around one week. We set the closing for TWO weeks off. TWO DAYS later my insurance company calls me and tells me EMC is trying to make them the payee. I tell them hell no, thanks for the call and not to allow anything to be changed.

My next call is to my attorney who tells me to tell them to go screw themselves. I then call EMC, tell them to screw themselves based on my attorney's advice AND I want an immediate refund of my $250 which I got. The following week I get the truth in lending statement. They were gonna charge me 6.5% AND TWELVE THOUSAND DOLLARS in fees. TWELVE THOUSAND IN FEES. When I refinanced with my current lender, I got 5.5% and they charged me Eight Hundred and Seventy Five Dollars. $875 V $12,000. Talk about a rip.
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