In Nov 2008, after just 1-1/2 years with GMAC home mortgage, who by the way promised they never sell their mortgages to other lenders...LIARS!!!! sold our mortgage to Midland Mortgage Co., my antenna went up and my heart palpatations began. I had been thru one of these switch deals 12 years ago that ended up with my losing my home and putting us in full bankruptcy. We have not been late on a payment with GMAC and when I inquired why we were sold, they said because they had every right to do so and we were a good risk and therefore a good sale for them to move money. It doesn't matter that the consumer doesn't want a change or requested one.
I then called Midland and they promised me they would have an online payment program set up by the 1st of the year. My 1st payment due them was Jan 1, 09. I mailed the payment on Jan2nd. today is Jan 8th and I have been watching my accounts and find they still have not cashed my check. I called their offices...the snotty woman on the other end said they can't cash a check I didn't send!! I informed her I was concerned as I didn't want any problems with their bank and they have no internet payment process and no local payment agencies. She said that they had no plans of doing either and it is our responsibility to be sure they have they payments on time and they cannot be responsible for lost mail deliveries....but apparently we are!!!! She said I can mail another payment...which would bounce to high heaven if it would clear at the same time as the 1st one. Or pay on the final day by phone and pay extra $20 or the late fee the day after of $31.97.
I think this is their way of lining their pockets and setting people up to steal their homes thru forced forclosures. I don't feel I am jumping the gun here as I had this happen with a company called Equicredit/Select Service ...out of Utah years ago, and even though Bankruptcy courts ended up filing against them for contempt....I still lost my house, my cars, my job.....etc....I am not about to sit by and watch this happen again!!!!!
I checked with my bank about electronic payments to find out that they only mail a check as well, that was a big surprise!! So that doesn't help either. So, I have decided to watch this very carefully. If need be, I will pay again this month but from now on I will send it to them with certified mail, signature requested and keep all my documents...I suggest you do the same, as I had kept a copy of the payment slip and the check I mailed and was told that that doesn't prove anything till they get the payment and post it. What is the consumer to do????
All I want in the latter years of my life is a home and as few hassles as I can get. Now, here we go again on a rollercoaster caused by greed of someone else!!!! How do these people get away with being licensed and handling peoples lives in such a irresponsible way???