EMC Mortgage
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Category: Business & Finances
Contact Information
United States
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EMC Mortgage Reviews
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RachG72
January 5, 2010
Unfair loan practices
EMC used unfair loan practices, that caused me to lose my house, my payment started at under $500 the last payment I made was $719, I told them that I could not make that high of a payment and they foreclosed on my house April 2006. The Federal Trade Commission sued them and I have received 3 checks for less than $1600 total, but I still do not have a house, and my credit score has dropped. I found out today that the date on my foreclosure was moved to Dec 2009, How can they do this? I Think that EMC is making us pay for there poor loan practices. We need someone to help us regain our lives. This is why the housing industry is in the shape it is in now thanks EMC ! I hope you get all you deserve.
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Stacey
June 20, 2009
Awful company
We too were victims of EMC. We dealt with them for years. Finally to save our home we filed a Chap 13, that didn't work, they still did not work with us. I hired (2) companies to work out a loan mod on it (that didn't work) bottom line from them, sell or foreclosure. We opted for the last.
Well, low and behold they sold our home at auction (we only owed $219, 000, they sold it for $274, 000). I understand JP Morgan Chase (who ownes EMC) purchased the house at the higher price. The reason, there are other foreclusres in our neighborhood and they wanted to bring the prices up. So here we go again, inflated the home values. Ours according to a realtor was only worth $119, 000 at the max.
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Lenek
June 12, 2009
Can't speak to real person
We have been calling for the last month and have not been able to get a real person to answer the phone. They give you the run around. When the person finally answered they told us they will call us back to change our mortgage to a traditional loan. Never got the call. We left more than 10 messages and BEGGED him to call us back on the messages and to no avail, he never did. Today we finally got someone live. IF YOU WANT TO SPEAK TO A REAL PERSON DO NOT PUSH ANY ANY ANY BUTTONS. You have to listen to the promptings message repeat about 4 times and then DO NOT PUT IN YOUR LOAN NUMBER. You will get cut off. If you just hold eventually someone will get one-We hate the company-we will never use them again.
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Jack
January 15, 2009
No customer care
Terrible mortgage company, no customer service, uses high-school drop-outs to answer the phone, has one generic phone number to hide all customer service reps, supervisors. They furnish fax numbers but never respond, they furnish addresses but never respond to any correspondence. They furnish incorrect info and will tell you they have fixed the problem but did nothing except lie.They make ach drafts on the wrong date and constantly threaten you with threats of harassing phone calls. They impose a penalty if you try to escape their emc maze of deception.I am 53 yrs old and the worst financial company I ever encountered.
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October 31, 2008
Usery Unrealistic Profit Taking
These "people" took advantage of me by offering me a Interest-Only Loan for 3 yrs on the BEGGINING BALANCE. When that is paid, THEN THEY WANT ME TO PAY INTEREST AND PRINCIPAL FOR 30 YEARS ON THAT SAME BEGINNING BALANCE AGAIN...CAN YOU IMAGINE THE BALLS ON THESE PEOPLE! NOT ONLY IS THIS USERY AT A UNPRECEDENTED LEVEL, BUT IS CRIMINAL AND THESE SOBs NEED TO GO TO PRISON.
AFTER TELLING THEM TO TAKE THE PROPERTY OVER, THEN CONTINUE TO HARASS ME FOR THE DAMN MONEY!
CAN YOU IMAGINE???
EVERYBODY WONDERS WHY THE COUNTRY IS IN THE GARBAGE CAN?
THERE IS PART OF THE ANSWER.
I WONDER HOW MANY OTHER STUPID PEOPLE THERE ARE OUT THERE PAYING THESE EXORBATANT FEES FOR A LOUSY $130K???
ARE YOU DOING THIS?
YOU MUST BE A FOOL LIKE I WAS...NO MORE!
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October 9, 2008
Overcharged
EMC Mortgage is very hard to get along with and they shield their supervisors/managers also. I pay my mortgage on line. When I made my September payment it seems that EMC took double the payment I designated for both first and second mortgages. After 5 days of sending bank statements and explanations to at least 5 different people I finally have received a check for my money they tried to keep. Well that's not all, Now I find out that EMC is charging me a late fee and they have reported to the credit bureaus that I was late on my payments. Yeah maybe so, but it was due to their CareNet problem. I will not be using electronic payments any longer with these people. Paper checks in the mail will be good enough for them. Also I am very tempted to quit claim the house and let them take it. I'll take the loss off my income tax. My Accountant will be the deciding factor on that one.
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September 24, 2008
Fraud and scam
My homeowners insurance lapsed. EMC mortgage sent me a notice. I ran down to the courthouse to pay the taxes, they already had. I bought a new insurance policy from Liberty Mutual and before my payment was received EMC sent the premium for the whole year!!
I know they are able to do this although I feel it is their choice not their duty. My gripe is that even if I pay them for taxes and insurance for this year and next they will NOT let me have back my old principal and interest payment of $685, they want now $933 per month. They will not accept $685-they send it back. I'm two months into this $933 payment-owe for August and September. I'm headed straight for foreclosure and they will not do anything to help me avoid this. A modification was suggested however there is no promise that the escrow will be removed even if taxes and insurance are paid in full for 2008 and 2009.
Is there any way out of this besides refinancing right now-income slow due to hurricanes in my area. Bush put a moratorium on Louisiana however EMC not honoring this.
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