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MGC Mortgage Complaints - Fraud and scam

Review all MGC Mortgage complaints

MGC Mortgage

Posted: 2008-09-26 by Tony [send email]

Fraud and scam

Complaint Rating:

Company information:
MGC Mortgage
United States
mgcmortgage.com

Like everyone else this company has never sent me a statement they have not paid our taxes or insurance. They are not returning our phones calls nor have they answered any letters. We have have never rec'd a welcome package with our account information amount nothing. Is this company a fraud? Our loan was sold to this company as Sept 1 and today is the Sept 24 and still nothing where are we suppose to send our payments and are they marking us as late?

We need a lawyer people and should band together on this there is something fishy about this company and they are treating people like this all over the usa I am in Ct.

We need justice making complaints here our not getting anywhere they don't care... they can foreclose on us and the State Attorney General Office in Tx could not care less!! These are our homes we need to protect them from these people making payments is great but if they are not cashing our checks and sending out statements and paying the taxes and insurance like they are suppose to do then we need HELP!! My insurance is going to laspe because I am unable to get anyone on the phone at this place I will have to pay it myself when this is included in my mortgage they will put a lien on my house if my taxes are not paid then what...

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United States

Mortgage Companies

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More MGC Mortgage complaints

MGC Mortgage - Does not accept payments

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MGC Mortgage - NO SERVICE

Comments

68 days ago by Suzanne [send email]

My mortgage was sold to MGC in July and I have yet to receive anything in writing that they are my mortgage company. I refuse to send them a payment. And if that is not bad enough, when I told "Keith" at MGC I wanted something, anything on their company letter head before I would send my money, he "officially" welcomed me on the phone and told me to call him when the checks were in the mail and he would be expecting them! Are you kidding???? So, I have not paid my mortgage, I contact MGC every other week by phone and ask them for a statement and they say it is in the mail. You cannot access your account online or pay online. My next step is to contact a lawyer. Good luck MGC customers!

64 days ago by Mgraham [send email]

My mortgage was sold to MGC in May and I have not been able to get anyone to answer my calls, emails, etc. I have reported them to the FTC and I implore everyone else to do the same.

When I left a message notifying them I filed a complaint with the FTC I received a phone call with someone giving me their direct number. When I called it though I received a voicemail and he has never returned my call.

Report them to the FTC so that there is a trail that you are doing all that you can to resolve your mortgage issue.

58 days ago by Maria Violano [send email]

I have the same issue. CitiFinancial sold my loan to them for Sept 1. Very difficult to get on the phone. I did speak to someone who said they have had checks for months that they have not cashed as yet that they were still setting people up in the system. They finally sent me something in the mail with my new account number on it. He also told me it was "OK" to send the payment late as they were so behind and they would not be reporting people to the credit bureaus for 30-60 days being late.. they still have not cashed my check.

51 days ago by Michael Bentley [send email]

I have yet to get anything from MGC. My mortgage was sold to them in July as well. It took them months to begin depositing my checks, but finally they seem to be caught up. However, no one from the company will return my phone calls or emails. I have threatened BBB complaints, with no results. My problem is I wanted to refinance before this crap hit the fan and I couldnt because MGC hasnt updated my credit report to show that I'm still paying my mortgage. So the 50 point jump i was holding out for for the fixed rate loans hasnt arrived yet and I'm stuck with an ARM for the moment. It would also be great to get a monthly statement and know that they have paid my property taxes, but alas, no communication from MGC yet...

I say they're not in a position to service our loans and should be reported to the FTC & BBB & Plano TX authorities as well. Any updates from anyone else?

51 days ago by Michael Bentley [send email]
Please click on the send email button and send me an email if you are having any luck or not with MGC. If we team up and file complaints together we might make a difference. Their cut you off and hang up on you telephone system, and non-responsive email address is driving me nuts! Thanks!

49 days ago by Emmy [send email]

I have been in the same boat.

I tried to pay them - they couldn't take the July payment the day it was due, then they sent us a letter to pay homecoming the last payment. Homecomings won't take it. Then I get a past due on the July payment.

Two weeks ago. No bills, nothing. I called, they said 'send the money' and a week later I get a call asking why we were so behind. (you never billed us)

Also was asked how much our payment was, and how many payments did we owe. Then he tried to say that we owed for June since they bought it June 30th.

But there is hope - I got a letter yesterday telling us we were sold again.

Now to straighten up this MESS that MGC left us.

49 days ago by Michael D. [send email]

Just Curious how everyone is making out? I am in the midst of starting a class action suit against this company, and if you are interested please forward me an email with your story, etc. They took my mortgage over back in July, and I still have not received a statement to this day, and it's almost November now. I sent in my July, August, and Sept payment, and it took them almost 2 months to cash both my July and August payment. They cashed my Sept. payment right away, but still have not received a statement to back up my payments, and to give me piece of mind. After countless calls, certified letters, and emails, followed by countless stories from then stating how they are backed up, and the statement is in the mail, etc. I have decided to move forward with legal action at this point. We can't allow them to treat us this way. Had it been any different, and we were the ones behind, forget about it, we would have fee's, letters of default, and every legal action thrown at us without any understanding from them, so why should we have to bear with them? No thanks!!!

35 days ago by Li Li [send email]

The story told by Michael D. is exactly what we have been experiencing, even within the same timeline. Ironically, we sent out our November payment to their Plano office by certified mail this morning.
Yes, yesterday we received a mail updated with our new acount number starting with a bunch of zeros and a new mailing address located somewhere in Massachusetts to forward our payment to.
It seems like we have been trying hard to play by the rule, and this company is really some kind of scam. We would like to save our home and join the class action against this company.

25 days ago by Cindi [send email]

OMG!! I can't believe the comments I have just read. Me and My husband are in the same boat with this so called company! Our mortgage was sold to them in july of this year and still no statement as of this date. Same problems with payments not being posted and don't worry they are not reporting to the credit buros . Called them numerous times and never any results. Got a letter saying my interest rate was going up again with them from 9.5 to 11%. We don't know what to do and are afraid we are going to loose our home.

25 days ago by Li Li [send email]
Hi Cindi, Michael D., in this board, is arranging a classing action against this nerve wracking MGC company. Maybe it's a good idea to stand together, in order to have a better chance...

24 days ago by Frank [send email]
I have never received a statement. They've lost checks, they don't cash them for 2 months, I don't know where I stand. Has anyone found any solutions?

2 days ago by Deb [send email]

My husband is 64. He is dying because of this situation. We have paid all of our monthly mortgage payments and have received one statement in 6 months. Now at the Sudbury Massachussets branch they say we haven't paid since June. Where are our fine politicians . Now the elections over we are chopped liver. I have copies of my checks but the my husbands life is worth more than this. They are responsible and I am taking action . Any one interested may come along. Thanks so much and God Bless.

2 days ago by Rob [send email]

THIS IS AN OBVIOUS CONSPIRACY TO GET PEOPLE OFF SCHEDULE WITH THEIR PAYMENTS TO CREATE A FORCLOSURE ENVIRONMENT. WHY ELSE WOULD YOU NOT PROVIDE STATEMENTS AND PROCESS CHECKS MONTHS AFTER THEY ARE RECEIVED ? THE FBI SHOULD BE ALL OVER THIS COMPANY. THEY CANNOT ACCOUNT FOR PAYMENTS RECEIVED, AND CASHED. THEY ARE PLAYING A SHELL GAME WITH PEOPLES LIVES & PROPERTY. THE EXCUSE THAT THEY ARE OVERWHELMED IS TOTALLY UNACCEPTABLE. THEY SHOULD HAVE BEEN UP TO SPEED WHEN THEY TOOK ON THE BUSINESS. WHERE ARE ALL THESE MISSING PAYMENTS ? ARE THEY SKIMMING ? WHERE WILL THE YEAR END STATEMENTS BE WHEN YOU NEED TO DO YOUR TAXES ? WHERE IS THE MANAGEMENT OF THIS COMPANY ? HIDING AT THE COUNTRY CLUB ?

2 days ago by Rob [send email]
IN ANY OTHER BUSINESS, WHEN YOU CANNOT ACCOUNT FOR MONEY YOU HAVE BEEN PAID IT ISN'T CALLED "DECEPTIVE BUSINESS PRACTICE" OR " UNFAIR BUSINESS PRACTICE" IT IS CALLED WHAT IT IS...THEFT