MGC Mortgage, CLASS ACTION SUIT Plano, Texas

Greetings

I have finally moved forward with our action against MGC Mortgage. I can't continue get bogus statements with bogus amounts, paying escrows and double paying and not having items paid for such taxes and insurances,forecloses without not even a letter,and no re-mod's etc. Mgc Mortgage should have come out a long time ago and just told people that they don't do re-mod's instead what did they do is throw your paperwork in the trash and claim that they did not get it. Sending out statements that tell you pay by last years date, not applying payments, asking for more money than the customer really owes,driving by taking pictures of your home then charging you for it calling it a BPO,charging fees and passing them along to you and not telling you,being a victim or predatory lending etc.

I have had it!! No more talking them unless it's in front of a judge. Since I started this I have gotten more calls from Beal Bank than I have gotten in 2 years. 

A MGC loan modification is almost impossible to get these days without extensive attorney help as well as a well prepared case. Throughout the Country, homeowners are completely fed up with MGC and their lack of response to qualified, make sense requests for loan modifications, and the amount of fraud and predatory lending that has turned up in MGC originated mortgages is staggering. Most loans serviced by MGC were sold to them by GMAC, or by Homecomings Financial (a GMAC subsidiary specializing in mortgages). This is not a coincidence; it is my belief that these loans that are being sent over to MGC are viewed as high risk, or as one representative of MGC told me on the phone, bottom of the barrel. These are loans that GMAC does not want to have to modify under Making Home Affordable. I mean no slander by this statement,however as it stands this is a true statement!