• Report: #183850

Complaint Review: Emc Mortgage Corporation

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  • Submitted: Wed, March 29, 2006
  • Updated: Wed, March 29, 2006

  • Reported By:casa grande Arizona
Emc Mortgage Corporation
909 Hidden Ridge #200 Irving, Texas U.S.A.

EMC Mortgage Corp. Help! EMC sent me a Customer Account Activity Statement to explain what they have been doing with my payments. I need someone to explain what some of the terms they use are. EMC customer service people dont know any more that I do. Help! Irving Texas

*Consumer Suggestion: Here's what I've found

*Consumer Suggestion: Here's what I've found

*Consumer Suggestion: Here's what I've found

*Consumer Suggestion: Here's what I've found

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I recently asked emc to show me what they have done with my payments. They sent me a customer account activity statement. I dont understand what alot of the terms are. I called their cutomer service people and they dont know either.

Do you know what they mean when they have a $100.50 a month of my payment going to something called "MAINTENANCE REVERSAL"
I have no idea what Maintenance Reversal is.

Also they started charging me for something called "PROPERTY PRESERVATIOM" Back in 2003 and 2002 I see charges for this every 3 or 4 months. Now in 2005 I am charaged this every month. I have no idea what this is.

What are Corporate Advance Adjustments. I see a $33,942.80 corporate advance adjustment on the statement. I recently asked for a payoff on my loan and there is a $400 charge to me for corporate advances. Once again I dont have a clue and neither do their customer service people.

When I asked to speak to a supervisor who might know.....I was told I would have to hold for 30 to 45 minutes. Of course after waiting for 40 minutes on hold....I am accidently disconnected..TWICE!!!! Is this a racket or what.

I call emc daily hoping that each new person I talk to might just happen to know something. What I should ask them is what do they know. They told me that they dont have access to any of my staements before 2006 so they cant answer any questions about anything on them.

If you have any idea what these terms mean I would be so happy if you would let me know. In the mean time I will just keep asking them again and again.....

Help

Joice
Casa Grande, Arizona
U.S.A.

This report was posted on Ripoff Report on 03/29/2006 12:11 AM and is a permanent record located here: http://www.ripoffreport.com/r/Emc-Mortgage-Corporation/Irving-Texas-75038/EMC-Mortgage-Corp-Help-EMC-sent-me-a-Customer-Account-Activity-Statement-to-explain-what-183850. 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 Suggestion

Here's what I've found

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

I did a Google search on the terms that you wanted help with and found this site: http://www.consumerlaw.org/initiatives/mortgage_servicing/content/glossary.pdf

It defines:
Property Preservation: For homes in or going into foreclosure.(Basicly a company cares for homes that are vacant by changing locks, boarding up windows etc...)

Corporate Advance Adjustments: Fees that are to be recouped from borrowers for the cost of foreclosure, attorney fees or bankruptcy fees.

I couldn't find anything on Maintenance Reversal.

I'm not even close to an expert, but from what I've found the charges are at least suspect if you aren't in foreclosure. You may want to contact a lawyer with knowledge of real estate or mortgage issues.
Respond to this report!
What's this?

#2 Consumer Suggestion

Here's what I've found

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

I did a Google search on the terms that you wanted help with and found this site: http://www.consumerlaw.org/initiatives/mortgage_servicing/content/glossary.pdf

It defines:
Property Preservation: For homes in or going into foreclosure.(Basicly a company cares for homes that are vacant by changing locks, boarding up windows etc...)

Corporate Advance Adjustments: Fees that are to be recouped from borrowers for the cost of foreclosure, attorney fees or bankruptcy fees.

I couldn't find anything on Maintenance Reversal.

I'm not even close to an expert, but from what I've found the charges are at least suspect if you aren't in foreclosure. You may want to contact a lawyer with knowledge of real estate or mortgage issues.
Respond to this report!
What's this?

#3 Consumer Suggestion

Here's what I've found

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

I did a Google search on the terms that you wanted help with and found this site: http://www.consumerlaw.org/initiatives/mortgage_servicing/content/glossary.pdf

It defines:
Property Preservation: For homes in or going into foreclosure.(Basicly a company cares for homes that are vacant by changing locks, boarding up windows etc...)

Corporate Advance Adjustments: Fees that are to be recouped from borrowers for the cost of foreclosure, attorney fees or bankruptcy fees.

I couldn't find anything on Maintenance Reversal.

I'm not even close to an expert, but from what I've found the charges are at least suspect if you aren't in foreclosure. You may want to contact a lawyer with knowledge of real estate or mortgage issues.
Respond to this report!
What's this?

#4 Consumer Suggestion

Here's what I've found

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

I did a Google search on the terms that you wanted help with and found this site: http://www.consumerlaw.org/initiatives/mortgage_servicing/content/glossary.pdf

It defines:
Property Preservation: For homes in or going into foreclosure.(Basicly a company cares for homes that are vacant by changing locks, boarding up windows etc...)

Corporate Advance Adjustments: Fees that are to be recouped from borrowers for the cost of foreclosure, attorney fees or bankruptcy fees.

I couldn't find anything on Maintenance Reversal.

I'm not even close to an expert, but from what I've found the charges are at least suspect if you aren't in foreclosure. You may want to contact a lawyer with knowledge of real estate or mortgage issues.
Respond to this report!
What's this?
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