• Report: #165065

Complaint Review: Emc MORTAGAE

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  • Submitted: Fri, November 18, 2005
  • Updated: Mon, February 13, 2006

  • Reported By:BROADALBIN New York
Emc MORTAGAE
MAC ARTHER RIDGE H SUITE 200 Irving Texas Irving, Texas U.S.A.

Emc MORTAGAE CORP ripped off by emc mortgage corp Irving Texas

*Consumer Suggestion: escrow

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I am new at this and need help I am being robbed by EMC and each month it's getting worse I am loosing my home little by little...Eah month i pay my mortagage, which by the way is getting larger and larger all the time. Briefly I took out a mortgage with superior bank and it was sold to emc...now i am paying 3,000 dollars a year hor HOMEOWNERS insurance which i cannot even use and they have escrowed my taxes. I have been paying on this 30 yr mortgage for almost 7 yrs at over $700 a month and i am in a negitive escroll still. I am a victim of equity sripping plus alot of other illegal practices... This has got to be ILLEGAL and I am going to do something about it...If anyone has any advise please post below your suggestions and by the way if anyone from EMC is reading this I am seeking legal representation.... So stop your illegal practices for gods sake I can't even feed my children and i work hard saving lives and helping people every day i wake up and get out bed... You should be ashamed of your selves. Is money really worth what you are doing to people?

Deborah
BROADALBIN, New York
U.S.A.

This report was posted on Ripoff Report on 11/18/2005 08:59 AM and is a permanent record located here: http://www.ripoffreport.com/r/Emc-MORTAGAE/Irving-Texas/Emc-MORTAGAE-CORP-ripped-off-by-emc-mortgage-corp-Irving-Texas-165065. 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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#1 Consumer Suggestion

escrow

AUTHOR: Dom - (Canada)

$3000 A year for h/o's ins? do you have your own insurance company or is your insurance through emc, mortgage companies have there own ins providers with unreal premiums, which only covers the home itself and nothing in it, If you have your own then spk with your company and getting your ins comp to deal with theres. If you don't then I suggest getting your own.

As for your taxes, Have you always paid them? on time? alot of people think just because they don't sign anything for escrow then they can't end up having it, this is a sad misconception. Everything you sign at closing, note, hud 1, deed, etc is the same thing as signing on for esc, however only if you request one or you have taxes that haven't been paid, another thing you would have to show proof of. As well if your still in a negative escrow i'd request something that shows where all this escrow money is going, If you have a negative escrow it's normally paid back over 12 mnths, if you request paying it back over a longer period of time then your going to be in a negative for a really really long time.

You also say your mortgage is getting larger and larger? Is this because of escrow or your prin and interest payments? You really have to know what kind of loan you have as well. is it a fixed interest rate? Adjustable? Monthly Rate? Daily Rate? Something you really have to look into befor closing.

without more info its hard to tell you exactly how to approach the situation, Best of luck
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