• Report: #164918

Complaint Review: Midland Mortgage Company

  • Submitted: Thu, November 17, 2005
  • Updated: Thu, November 17, 2005

  • Reported By:Summerville South Carolina
Midland Mortgage Company
3232 West Reno Oklahoma City, Oklahoma U.S.A.

Midland Mortgage Victimizes Yet Another Unsuspecting Consumer Summerville South Carolina

*Consumer Comment: Same thing happened to me

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I have lived in my first home for just over four years now and my mortgage was sold by Aurora to Midland Mortgage in June of 2005. I have just come out of bankruptcy due to poor financial decisons and poor money management. My house was not listed as a part of the bankruptcy. Prior to receiving my "discharge" I was notified of the sale of the mortgage.
I paid my first payment to Midland for July at the end of June. I have paid it ontime every month since. I received a phone call from Midland Mortgage this past Saturday to call them. They, of course, were closed but I listed to the prompts. I was "informed" that I owed them over $176.00 in late fees. I mailed my last house payment via USPS 3 day delivery with signature confirmation. They received my payment at their facility on 11/14/05 yet it has not cleared my bank yet (today is the 17th).
I have researched it and all of my checks have cleared the bank 7-10 days after the 16th of each month.
I am very concerned. I want to know how can the consumer be impowered to prevent Mortgage companies from selling mortgages? Good luck to those of us who are being victimized by corporate America.

Jamii
Summerville, South Carolina
U.S.A.

This report was posted on Ripoff Report on 11/17/2005 06:48 AM and is a permanent record located here: http://www.ripoffreport.com/r/Midland-Mortgage-Company/Oklahoma-City-Oklahoma-73107/Midland-Mortgage-Victimizes-Yet-Another-Unsuspecting-Consumer-Summerville-South-Carolina-164918. 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 Comment

Same thing happened to me

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

I also noticed that when I mailed a payment to my mortgage company it was not posted until the actual due date (despite being mailed well ahead of time). I've found that one way to avoid this from happening is to drop the payment off at the bank on the due date (or a couple of days ahead of time) and get a stamped receipt that they have gotten the payment. This has worked wonderful for me, as now my payment is always posted the day after I drop it off, for the actual date that it was paid. For those that are not within driving distance of their mortgage company, check to see if they have online payments available. You get a confirmation number when you pay online, which is printable, and the payment is normally posted within 4 hours or so.

As for selling your mortgage, I've heard that a lot of companies will exercise this 'right' as soon as they find out that you've filed a bankruptcy. Even when not filing your home on the court forms, they feel that they must protect themselves from a possible loss in the future, so they sell it to another company willing to take the risk. (Three of my friends have gone through this in the last year. Two had their mortgages sold to Vanderbilt, the third held her mortgage because they knew her personally and felt comfortable that she would continue to make payments). Unfortunately, there's very little that you can do about this, except hope that you can refinance in a couple years with a mortgage company of your choice.

Good Luck, and I truly hope that things work out for you.
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