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2.9 70 Reviews

MGC Mortgage Complaints Summary

33 Resolved
37 Unresolved
Our verdict: Dealing with MGC Mortgage, which has an average resolution rate, requires some diligence. Research their service in depth and read a variety of customer reviews for a balanced view. Approach any customer service interactions with detailed and well-prepared queries to facilitate a better resolution process.
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12:01 am EST
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MGC Mortgage no service

I too was sold to mgc in july 0f 2008 — they didn't have any idean who I was or have any kind of a loan number for me... I was with homecomings before that and they sold me to mgc... I sent them payments which they only cashed 1 payment which they don't have any record that they did... I sent them bank information that the checks were cashed and no one is getting back to me... But in november they put me back with gmac who now claims that I am late and telling me I have to come up with all this money or I will be foreclosed upon... I would be more that happy to participate in a class action lawsuit against them... Any help I would appreciate it

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JillC
,
Sep 02, 2008 10:59 am EDT

This mortgage company is not a legitimate business. Our story is the same as all of the others I have read on various discussion boards. Our loan transferred to MGC on July 1. We didn't receive any notification until August. We sent our July and August payments but nothing has posted or cashed. I call and get hung up on. I got through today to a real person who told me that she was just an operator and had no management contacts for the company, only email.
I am worried about this being a potential foreclosure scam. I have filed complaints with the BBB, the Federal Trade Commission and the Texas state Attny General. I am going to try and obtain some legal advice. I am going to try to make contact with a person making posts on loansafe.org, see if we can all join together to get something done about this ridiculous operation!
Good Luck to everyone, I will keep updating if I make any progress.

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GBS
Columbia, US
Apr 22, 2009 12:03 am EDT

My loan was sold to MGC mortgage, September, 2008. Payments are not posted properly and you can never get anyone in the loss mitigation on the phone. I am in the process of trying to get my loan modified, have submitted all paperwork with them and through NACA and can get no reponse from MGC except threatening mail to foreclose. Why is this company able to stay in business with so much shady/unethicial practices? Are they not governed in anyway? These complaints have been going on since 2008, when they apparently bought a lot of loans. Who owns this company or who are the investors? Can anyone find out that information?

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ERichard
north kingstown, US
Sep 11, 2009 3:11 pm EDT

This is our SECOND dealing with this so called Mortgage Company. First time we were in the middle of a refinance when our loan was sold to them They claimed never to have gotten a payment from us...even though we had the returned check and they had cashed it. Our loan was sold BACK to the original company we had our loan through...and sold BACK to these fakes in Aug of this year. I cant get hold of them by phone...they have sent NO welcome packet OR statements...when THEY call it is all automated. And for some reason my payment has gone up over 1000 dollars I think SOMETHING needs to be done here...before we all go down in flames because of a bogus company. If a class action suit is begun PLEASE include me

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tehoward
East Hartford, US
Jan 13, 2011 3:29 am EST
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I have not heard from you did you want to be on my list? or has MGC Mortgage helped you? either way I would not wait to be added to my list. thanks

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tehoward
East Hartford, US
Aug 07, 2010 12:42 pm EDT
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My name is Terry Howard and the samething has happen to me I am hoping that we can get together and do something about these people if you can please call me at [protected] or email me at billybear2004@yahoo.com thanks

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bobparsons
Savannah, US
May 06, 2010 10:27 pm EDT

WE'RE ORGANIZING OVER HERE EVERYONE: mgcmortgagesucks dot com

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Mad and Madder
Baton Rouge, US
Mar 20, 2010 7:38 pm EDT

Now I really don't feel so alone. We have been patient enough with this company and it is time for them to pay. They say what goes around comes back around and I am interested in talking to anyone who can help bring this horrible nightmare to an end!If anyone knows of a class suit against this company PLEASE let me me know(hughesdwayne@bellsouth.net).Thank You!

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On the EDGE
Hollywood, US
Feb 26, 2010 10:25 pm EST

I totally agree, please keep us posted. For anyone looking for help contact NACA, they are investigation this company and they will help save your home and your insanity, MGC need to be destroyed, FEDERAL AGENT, we need your help!PRESIDENT OBAMA, we need your help!PLEASE SHUT DOWN THIS COMPANY!

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Tinab222
Gardner, US
Feb 18, 2010 2:03 pm EST

i strongly agree. MGC for "some strange reason" let me get away with 29 missed payments. I never recieved a billing statement from them, just a welcome package not long ago but nothing more but a "Default Notice" in Nov./09 saying they want $36, 000.00 by 2/17/10. why did i get away with it for that long? was my note lost? they claim they have it and they were supposed to fax it to me 3 days ago. My loan number off of the "default notice" does not match any of their records and neither does my social. But they told me today that they changed my loan number... in that little bit of time?! My latest document did not have the new # on it and what did they change my social too?! i need to find a probono lawyer.. does anybody know who i can talk to? My name is Tina- iluvlucy687@ymail.com. I am on disability and cannot afford to file a lawsuite or hire a high end attorney. Has anyone thought of talking to the media about any of these complaints? I mean, they are never ending!

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boiling in tx
, US
Jan 31, 2010 5:21 pm EST

I am having the same trouble as others. I had a counselor from HOPE contact them they refussed to allow the call to be recorded. I have been refused for a modification twice because my wifes employer does not provide"professioanl pay stubs " just a monthly check and w2's at the end of the year. They claim this information could be made up and will not refunance. If there is a class action suit filed please post how to join in,

pat

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10:48 am EST
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MGC Mortgage mortgage

I am trying to get new loan from a fha .MGC is not reporting loan payments or sending taxes.they dot anw. the phone want is going on

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tehoward
East Hartford, US
Jul 24, 2010 1:45 pm EDT
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You must join us in the Class Action Suit MGC Mortgage is not going to help you. They are a bunch of investors that don't care about you. Please stand firm and fight back if they help you today please don't give up on this fight because there will be others that will have the same problems as all of please call and do the fist step by calling and filing your complaint with the FTC Federal Trade Commission [protected] and keep every single piece of paper document everything you have done such every phone call please keep dates times every letters that you have sent all of these things are going to be needed. My name is Terry Howard please contact me either by email or phone [protected] billybear2004@yahoo.com

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6:56 pm EST
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MGC Mortgage file a complaint to your attorney general /bbb/mortgage servicing

Loan was transfered to this company because their plano tx firm could not handle it. Now they say my loan is $6, 000 behind. I have all my certified reciepts. They wants ans calls, neither will they call you back. Want send out statements etc... Do like we did turn the whole mgc mortgage in. These people or dumb

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LoanModificationPrograms
LoanModificationPrograms
Glendale, US
Nov 30, 2009 6:30 pm EST

They are many companies that are legitimate and can help homeowners stop foreclosure and keep their homes.

Mortgage Assistance Group is one of those companies that holds an "A" rating with the BBB and has help over 500 homeowners keep their homes.

They give a discount to the homeowners who have been scammed and treat each client with respect and dignity.

You can reach them at [protected] and at www.mag-az.com.

Thanks and good luck,

Randy D.

P.S. If you know someowner they can help, They will pay a $100 referral!

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hippo2932
, US
Nov 09, 2009 11:24 am EST

My loan was transferred to this company in February 2009. Despite making my monthly payments, I get daily pre-recorded messages saying I am delinquent. When I call to inquire they indicate that the system upgrade is pending and that they see my payments, however, they have not been applied. I have been waiting on a response to our loan modification for 3 months and was told last week that I should re-apply because they don't see it in their system. I have not received a statement in 9 months and I am getting very nervous for my 2009 taxes that I won't get a statement. Scary!

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1Lady
Atlanta, US
Aug 27, 2009 2:54 pm EDT

Yes, this company is unethical! Complain successfully to:

MGC Mortgage, Inc.
Owned by Beal Bank FSB
Regulated by OTS,
Washington, DC [protected], Fax: [protected]...

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James
Richardson, US
Apr 22, 2009 4:59 pm EDT

I wish an attorney would read these posts and shut this company down! I did not get a statement for six months. I begged, begged, begged them to modify my loan. They then said I was uncooperative and would have to reapply. There is something horribly, horribly illegal going on with this company, and I cannot get anyone's attention. I am so desperate, I am considering hiring one of those internet lawyer companies! Please respond

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ken90004
Brazil, US
Mar 13, 2009 12:58 pm EDT

You realize the BBB will not do anything worth noting. They are a great service, as they can warn other buyers to stay away, but it isn't like anyone had a choice to switch here.

The BBB can mediate, but MGC isn't mediating anything.

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William and Bonnie Connelly
Weeki Wachee, US
Mar 05, 2009 5:35 pm EST

our mortgage was sold to MGC, we didnt know this until we could not get a hold of market street mortgage. we never rec'd a welcome letter, phones are always busy never return your call. we decided we neede d to go into loss mitigation, in nov. sent papaer work in nov. after weekly phone calls from dec. on we find out today they dont have our paperwork, despite being told that our file was in review!92109

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Rhonda
Maumelle, US
Jan 21, 2009 12:54 pm EST

Hello,

Same with our loan transferred July 1, 2008! You can never get a person on the phone to contact you or call you back>
They have horrible service and NEVER have sent any statements to our home in the last 7 months! I'm sick of it! Any of you out there whose payments go to sudbury, MAssachsettes have their tax id number? PLEASE FORWARD THEIR TAX ID NUMBER to me at rhonwilk@yahoo.com> THANKS!

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9:25 pm EST
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MGC Mortgage missing payments

My mortgage was sold to this company in late June 2008. I was told I could not pay the mortgage then because they were not ready. They did not even have a loan number for me until early August. I requested the loan number, they did not offer it to me. I paid my mort. They did not cash the checks for 1 month. Then they claimed they did not get them. I was called on 9/10/2008 when my checks for july and August were cashed on 9/4/2008. They said they were experiencing difficulties. They sold me back to GMAC in Oct. Now MGC said I am dilinquent. they reported me to the crredit bureaus. They said I did not pay 2 months. I did !They are very unprofessional and it looks like a scam to me. They have destroyed my credit score. I am a single parent. I work 2 jobs and am very concerned about paying my bills on time. This company has destroed my good name. Please assist me and the others they have been deceived by this company.

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Crystal1982
, US
Oct 15, 2015 5:15 pm EDT

We have been having difficulties with this company every since our mort. was sold to them 3 years ago. We will receive statements saying they are missing e months of payments. I would fax them the Western Union copies. Then everything would be fine for 2 months. The the process would repeat. We would call them. They would say one thing.. Hang up and call them again and they would have no record of the previous conversation. Now they are no longer excepting payments even though we keep western union them. I have all my payment receipts from western union. This is so frustrating. Someone email me crystal_crystal1982@yahoo.com

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lovelyred5
Warrior, US
Mar 18, 2009 8:20 am EDT

I too have expereinced the same. My mortgage was sold last year from Homecomings to MGC in June 2008. I receved a letter telling me about being sold to MGC but that is all I got. I never received a payment notice through mail but I continued to send my payments. After 4 months I called them to find out why they haven't cashed my checks and they said that they had bought many mortgages and they were behind on getting them programmed into the computer. In September they cashed 3 of my checks and then I got a letter saying they had sold my mortgage to GMAC who is the owner of Homecomings. I never knew what happened to the 4th check that I sent to MGC. I am still in lingo about all of this. I am about to seek an attorney about all of this.

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Sue Anderson
Bloomfield, US
Jan 28, 2009 9:25 am EST

I also have this mortgage company and it has been
an ongoing nightmare. I keep receiving late payment
notices when my payments were never late. It is
impossible to get phone calls to them and they don't
return calls when left messages.

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Wendy L
Franklinville, US
Dec 31, 2008 10:00 am EST

I also have had many problems with MGC Mortgage since our loan was sold to them back in June 2008. A check was lost in July and after 2 months I put a stop payment and Western Union the cash. During the last six months I have not received any statement but had made every payment most thru western union after the check was lost. Then I received a letter from the Texas office asking me to remit funds on the check from July which had already been sent 2 months prior. When I called to clear this up they had no record of the letter being sent and our account had been forwarded to another office in MA. who told me they had no records before November! I also received a letter from their insurance dept stating my homeowners had lapsed back in August which they are to pay from our escrow account. I did verify that the insurance was in fact up to date. Now just last week I had finally received my first statement which was so confusing I can't make heads or tales out of it but they say we owe over $2000 and our mortgage payments are $696 and all payments have been made. I would be interested in joining in a classaction suit for the nightmare they have made out of my life since they took over the loan wendylaahs@yahoo.com

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Michael D.
Raynham, US
Dec 31, 2008 1:36 am EST

I have been dealing with this for (6) months now, and am on the same page.

Countless people have reached out to me, with nothing but disturbing experiences, worries,
and hardship concerning this ordeal.

Back towards the late summer. I made the smartest decision of all and that was hiring an
attorney to oversee all of this. I needed to feel protected in some way shape or form, as I couldn't
seem to get the comfort I needed in dealing with the the mortgage company directly. With endless
phone calls to no avail, countless letters, emails, and faxes, that were never returned. I needed to
make a decision to protect my family and my home.

Since then we have been able to dig up a tremendous amount of information on this company.
Back in November, we were ready to officially file a suit against them, but then decided to hold
off until the first of year. Reason being, is the company appears to be bouncing around and
opening offices in many other various states. Well they call it branching out, while I call it
bouncing around. My attorney seems views it as creating confusion, etc.

Never the less, we will be officially moving forward with our action against them after the first
of the new year. Now I have taken note of each and every one of your posts, and will be in contact with
with those of you that appeared interested, but if there is anyone else additionally that is experiencing the
sames issues that you have read here on these forums that would like to participate. Please
post your story here and get in touch with me via the send a message button above.

We can't let them treat us in this manner. It's unjust!

Set aside from all this...
After almost (6) Months, I finally received a statement from MGC.
Regardless of the fact, the statement is a mess.

First, There is a missing payment?, un-applied funds?
About $300 Late Fees? (Which we have never missed a payment)
and further-more it appears that they have rolled all of our future
taxes into our loan. Taxes that aren't even due yet nor have been
paid by them. An amount that substantually increases our monthly
payment by hundreds of dollars, and it's very disturbing. Fortunately
I am in a position to be able to afford the increase, but I am beside myelf,
and can't imagine what it would be like for someone that couldn't afford
an overnight increase like this. Perhaps someone that is on a fixed income,
or only makes enough to be able to afford their previous monthly payment.
Maybe a family that is struggling due to a job loss, and unfortunate
death, or simply a decrease in pay due to the economy.

This is extremely outragious! And has to stop!
I will be looking forward to hearing from you all, we need to come together on
this or people are going to start losing their homes due to these deceptive business
practices.

-Michael D.

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9:51 am EST
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MGC Mortgage fraudulent trade practices

As per other posters here - we have experienced extremely questionable non actions by this mortgage company. We're hoping others will share the proper email addresses and phone numbers for the correct texas attorney general's department related to this.

Thanks in advance!

Katfish

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MGC Sucks
, US
Aug 28, 2009 1:41 pm EDT

Beal Bank owns MGC Mortgage and teh owner of Beal Bank is Andy Beal

Beal Bank, Retail Banking Department, 5909 Berkshire Lane, Dallas, TX 75225

# Telephone: 1-877-TRY-BEAL [protected])

I've had the same issue and have filed complaints with the FTC and the BBB. I will now call Andy Beal every day until they fix my loan. Please call him too.

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6:42 pm EDT

MGC Mortgage no service

I received a letter from suntrust mortgage that my loan was transferred to mgc in july. As of today, I have not receive my welcome package as promise repeatly over the phone nor any statement from mgc. I mailed in my july, august and september payment to the mortgage company and I have not receive any statement from this mortgage co. Indicating that the payment has been posted to my account. I need an answer asap, my mortgage payment is over 5000.00 a month and I would like to know if this a legimate mortgage company. Money is being withdrawal from my bank account on the 15th of each month. Please advise

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Jennefer Polak
, US
Jun 17, 2019 9:30 pm EDT

They refuse to provide payoff statement. They have filed false reports with IRS. Have returned mortgage payments by check they refuse to honor, will not reissue. Have tried to foreclose but they are going about it illegally and our attorneys have been able to stop them. They are now trying to fast track a foreclose to prevent us from selling.

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KATHY CUSHING
Philadelphia, US
Apr 07, 2010 11:07 am EDT

no notice when loan purchased 8/08, no timely mortgage statements, erroneous payment of 2017 insurance and taxes, doubled my monthly payment, posting payments into unapplied cash, reversing payments, charging late fees, returning checks months later, foreclosure w/o 90 notice and no act 91 letters. general failure to ever answer letters and faxes notices sent between 9/08 and 11/09. verbal agreements not honored at all
3/31/10

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mgcnot
Dallas, US
Mar 02, 2010 3:29 pm EST

The phone number above is incorrect. The correct phone number for MGC Mortgage is [protected].

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Barbara Green
St. Louis, US
Apr 06, 2009 4:40 pm EDT

I agree this company MGC is a scam. I pay all my payments online. They hold on to them for a week or sometimes two before they cash them. You can pay them though your bank that way you can always see when they get your payment in and when it was cashed . Then they try to send you a late charge. I checked out my credit report to see if they put it in there but they're not in there as my mortgage company.
They don't have anything in there. I think everybody need to get together and get real of this company.

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Mike
, US
Apr 01, 2009 11:22 am EDT

Haven't been able ta make a payment by phone. Can I make a payment on line?

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marie
HOLLYWOOD, US
Mar 17, 2009 8:42 am EDT

i was modifing my loan when i was transfered to mgc texas so after month i finlly reached them so filled out for modfy and then as soon as my papers were sent to the investers then 4days later my account was transfered to mgc servicening in suldbury mass.[in novber] so then i had to start over again then after all this time i have been paying my payments they say they did not get the payments so i just paid them 4, 300.00 dollars and still dont know if i am going to get a modfy one month after i refinanced my home the disablity ck i was getting for 15yrs was cut 500.00mo becauese they made a mistake when they first started my checks go figure i am totaly disabled and have lived in this house since 1987.

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Tom Wood
,
Dec 01, 2008 8:43 pm EST

I am in the same boat with these guys! My mortgage was transferred to them from homecomings financial and I have yet to receive a statement from them. I have tried to contact the company several times. Finally I told them I wouldn't keep paying my mortgage if they didn't send me a statement. Well they finally sent me a half assed statement and two of my payments were missing! so where did my money go? Not towards my loan thats for sure! BEWARE of this company I'm not sending them another dime until I can get some answers!

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MGC Mortgage fraud and scam

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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Calling for remittance
, US
Aug 20, 2018 6:57 pm EDT

I've entered correctly my routing number and account number for making my payment and your system is not working correctly as it keeps stating that my routing number is incorrect WHICH IT IS NOT INCORRECT! And it's stating that I need to have nine(9) digits of my routing number... WHICH I HAVE!

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Jeryl Cook
, US
Aug 20, 2018 10:54 am EDT

Received multiple calls, after speaking with them MGC stated one of my homes BBT mortgage was sold to them and I was late payment, then wanted me to pay...I hung up called BBT mortgage and my mortgage was not sold and never late.

These folks are scammers I am at a lost why they are still in business.

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Jeryl Cook
, US
Aug 10, 2018 9:18 am EDT

This company is a scam..they called me a few times stating my mortgage with BBT was sold to them..i went to the branch to confirm and BBT DOES NOT Sell your mortgages to anyone! this company is a fraud !

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Joy Palmer
, US
Jan 05, 2018 3:41 pm EST
Verified customer This comment was posted by a verified customer. Learn more

Add me also. My husband passed away in 2014 and when I called them to ask about the life insurance policy that we had carried since 1993 on him and I, they told me that there was no insurance and that I had to still pay this mortgage. I have had nothing but fight after fight with them since October of 2014 and to this day, I am still fighting. I just received a letter in the mail from them about them wanted 2 months worth of house payments and when I called them, they tried to tell me that I was still past due even though I had my bank account up and in front of me, along with the email confirmation from them that they received the monthly payments. They still argued with me. I'm so tired of dealing with these people. I shouldn't have to. They also re-added another pay off date to my mortgage. Now instead of it being paid off in 2023, I have until 2033. I just don't understand.

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Robert Alington
Elmira, US
Mar 16, 2013 2:35 pm EDT
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Our Morgtage starting in 1993 has been sold or turned over quite a few times and our current holder is MGC Mortgage Co. and our starting balance of $63, 000 should have been about paid off. MGC has tripled our interest and has overcharged us for insurance for the last 3 or 4 years. The say our balance is still around $50, 000. This will be investigated by our attorney.

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philcamille
Philadelphia, US
Mar 05, 2010 6:38 pm EST

My first encounter with this company I was told that I had over payments to my account. I never received statements so I thought that I could skip a couple months then I was told that that was not true and I was behind several months so starting last July I doubled my payments and was told that in January I should be current. Well I was told again that I had to pay another 200.00 that would bring me current. I just receive a call saying that I owe a month?I have been requesting statements for a long time. Today they call me again on my job about the supposeable late payment. Something is not right with this company. I was told that if I recently transferred from another mortgage company that getting statements were a problem. They're telling me all kinds of things. I was told to put everything in writing and to fax them my issues (which I"ll do), but some how I believe that this will be done in vain. I'm very angry reading all these complaints because I believe there is alot of fraud going on here and it's just not me. I hope that the attorney general gets involved. That's my next step

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tiffany eaves
, US
Mar 19, 2013 7:47 am EDT
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i have had my home with MCG mortgage and i just recieved a letter from a lawyer where my home is being forclosed on, back in November a gentleman called me from MCG and said my acct was behind and I needed to send 2700.00 in money order or cashiers check ASAP, i did, and he stated my acct would be back up to date and payments would be taken out of my checking acct. on the 30th as scheduled and I havent heard nothing else until this letter, Im a single mother and i cant loose my home I have worked so hard to keep for 21 years. please help

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babyballerjenkins
, US
Dec 07, 2011 2:34 am EST

WOW! Lets all pray and touch in agreement that the Lord our Savior Jesus Chris will intervene. My mortgage was sold as well to GMAC, Homecoming and finally GNC. I was recently foreclosed on with in a two week period. I didn't know what was going on. I was not behind on my payments. Lost litigation was in the middle of trying to figure out why the paper work was showing a foreclosure. Come to find out. I had changed insurance companies and some how the escrow was not correct. I have hired a lawyer and I am in the process of suing for the possession of my home. Please pray for me, and phone me for the class action suit at [protected].

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Tracy Claiborne
Knoxville, US
Nov 22, 2011 6:34 am EST
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PLEASE SOMEONE CONTACT ME ABOUT A SUIT AGAINST THESE THIEVES!
TRACY AT [protected] Email at Claibornecontracting@yahoo.com

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Tracy Claiborne
Knoxville, US
Nov 22, 2011 6:32 am EST
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SOMEONE PLEASE CONTACT ME ABOUT THIS LAWSUIT!
TRACY [protected]

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MGC Mortgage mortgage loan

My loan was sold to this company (mgc mortgage, inc.) I was sent a statement showing my loan balance, and the payment which is $811.95, I have re-located because of hurricane katrina, paid 13, 568.13 to my former mortgage co, which sold the loan to mgc mortgage, inc. And I was sent a statment showing the mortgage balance 91, 103.92 now after I asked for a payoff, because the property is for sale, by owner, mgc mortgage finally sent me a statement stating I owe them $ 4, 174.72 I need to clear this up immediately! Thank you! Brenda d. Smith [protected]@tx. Rr.com please get back with me immediately, because I am at my wits end with this company. Thank you! I can be reached at [protected]. Thank you!

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clayton wai
NCS dededo, US
Jul 18, 2010 9:25 am EDT

MCG...bought out my loan from bank of america in 2008...and never sent me a statement for my payments for one year...then sent me a statement for 3, 800.00.my monthly was only 216.00they never sent me a letter that they were in ownership of my loan from BOA...Now they want to foreclose our home...[censor]...
my name is clay wai from guam

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Mad in Md.
Baltimore, US
Jan 05, 2010 10:41 pm EST

To all please file a complaint with your state/local Commissioner of Financial Regulations over banking institutions! They are helping me and advised that the more complaints the stronger we are! Please! This company is the worst! Please if there are any Md. residents, I am urging you to file.

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Nona Barnes
Chicago, US
Oct 20, 2009 1:01 pm EDT

MGC mortgage sucks. they are not professional. I have all of the complaints as all of the above.

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dee
, US
May 31, 2009 11:22 pm EDT

I agree that MGC Mortgage shouldn't be in business. We have been trying to do a modification on are loan since November 2008. We talk to a different person every time we call, and always get a different answer to are question every time. First don't send any money, then send what you can, then send a certified check in the full of your monthly payment. Then we get a letter saying its in foreclosure. Then they say its still in review. Why is this company still in business?

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Michael D.
Raynham, US
Nov 03, 2008 12:12 am EST

Brenda,

Wondering how you made out with this?

There are several cases getting ready to come together against this company,
and may news stations are starting to pick up on what is happening.

Myself including hundreds or thousands of others like us have also
experienced nothing but heachaches dealing with this company what
seems to be over a span of one year now. Myself personally since July '08

Still do this day I have not received a single statement and we are into
November now...They took over my mortgage in July!

Make sure to write them a letter demanding them to review your account,
and make sure the letter is sent certified mail.

Do you have an attorney that you can talk to? I would suggest
that you bounce this off him, pertaining to precisely how you
should word the letter further making sure that it's a qualified letter
so to speak. I am eager to hear from you.

Thanks

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3:59 pm EDT

MGC Mortgage does not accept payments

Like so many others I was verbally told by homecomings financial that they sold my mortgage in july but I have not received anything from them or from MGC mortgage advising me of the transfer. I did receive a letter from my homeowners insurance company that homecomings contacted them to add mgc mortgage on my policy. I called mgc in late july and mailed them a check in for my august payment which has still not been cashed. I tried calling and am not able to speak with a live person or leave a message and I am not sure what to do now to avoid late charges or reporting my account is past due. I don't know whether to stop payment of the check I mailed or what my legal rights are. himecomings financial which is a GMAC company would not help me at all and advised me they would not provide me with the alternate phone number they had for MGC mortgage.

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April
kennesaw, US
Jun 01, 2009 4:55 pm EDT

Let me know - we'll sign on to the law suit!

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Michael D.
Raynham, US
Dec 31, 2008 1:32 am EST

I have been dealing with this for 6 months now, and am on the same page.

Countless people have reached out to me, with nothing but disturbing experiences, worries,
and hardship concerning this ordeal.

Back towards the late summer. I made the smartest decision of all and that was hiring an
attorney to oversee all of this. I needed to feel protected in some way shape or form, as I couldn't
seem to get the comfort I needed in dealing with the the mortgage company directly. With endless
phone calls to no avail, countless letters, emails, and faxes, that were never returned. I needed to
make a decision to protect my family and my home.

Since then we have been able to dig up a tremendous amount of information on this company.
Back in November, we were ready to officially file a suit against them, but then decided to hold
off until the first of year. Reason being, is the company appears to be bouncing around and
opening offices in many other various states. Well they call it branching out, while I call it
bouncing around. My attorney seems views it as creating confusion, etc.

Never the less, we will be officially moving forward with our action against them after the first
of the new year. Now I have taken note of each and every one of your posts, and will be in contact with
with those of you that appeared interested, but if there is anyone else additionally that is experiencing the
sames issues that you have read here on these forums that would like to participate. Please
post your story here and get in touch with me via the send a message button above.

We can't let them treat us in this manner. It's unjust!

Set aside from all this...
After almost (6) Months, I finally received a statement from MGC.
Regardless of the fact, the statement is a mess.

First, There is a missing payment?, un-applied funds?
About $300 Late Fees? (Which we have never missed a payment)
and further-more it appears that they have rolled all of our future
taxes into our loan. Taxes that aren't even due yet nor have been
paid by them. An amount that substantually increases our monthly
payment by hundreds of dollars, and it's very disturbing. Fortunately
I am in a position to be able to afford the increase, but I am beside myelf,
and can't imagine what it would be like for someone that couldn't afford
an overnight increase like this. Perhaps someone that is on a fixed income,
or only makes enough to be able to afford their previous monthly payment.
Maybe a family that is struggling due to a job loss, and unfortunate
death, or simply a decrease in pay due to the economy.

This is extremely outragious! And has to stop!
I will be looking forward to hearing from you all, we need to come together on
this or people are going to start losing their homes due to these deceptive business
practices.

-Michael D.

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Gene
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Sep 12, 2008 4:31 pm EDT

Please help me! verizon and afnicollections, are trying to say i o them money 1, 074.93 and that i had lived in Rochester ny i have never even been there the address they gave me, go to a safe house. and this person is using my name and all my information. What do i do . please help me... i been living at this address for over 12years.

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9:41 am EDT
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MGC Mortgage loan servicing or lack thereof

This loan servicer or lack thereof is pathetic. They received my loan on 7/1/08, committed a RESPA Violation by not notifying me with 15 days as required by law. Instead they sent a welcome letter dated 7/30/08. They have not posted July and Augusts payment. There telphone lines consistently say "we are unable to take your call and hang up on you". Their website is deplorable. You cannot see your account history, you cannot pay online. To add insutlt to injury they did not pay my real estate taxes as required under RESPA either. You email them, you get no response. You call them, they hang up on you.

This is a ma pa operation that needs to be put right out of business.

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Tesha
Richmond, US
Nov 24, 2009 10:19 am EST

Well my loan just got transfered to MGC in October and they have not posted my payments yet. I have received numerous past due notices and have faxed them several times copies of the checks they cashed, as well as spoken with several customer services reps even a supervisor, the collections etc. and I have been getting the run around for almost 2 months now. They say whatever they can to get you off the phone and still nothing has been done..I have excellent credit and I am just waiting for them to report any past due/late payments to the credit bureau. They need not to be in business if they cant handle the loans they are taking on etc. It is very frustrating and ridiculous to put clients in these type of situation thats honest and doing everthing to pay their bills, and on time. I am giving them to the end of this week to fix my account. I am going to the news, attorney general, etc .whatever this takes this company does not need to be in business..

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Nettie215
Fremont, US
Aug 10, 2009 3:54 pm EDT

I also have problems with MGC Mortgage. My account is set up on an ACH. Since I am disabled and receive disability they were requested 4 times to take my payment out on the 3rd of each month as that's when my Social Security is deposited in my account and the idoits working there can't get it right, they either try to get it on the 1st causing me to get a overdraft fee or they wait until they can charge me a late fee. In July they took it on the 7th, charged me a late fee and didn't credit me with the payment and this month it's already the 10th and they still haven't taken the payment. I was able to reach them by phone and they say they are working on the problem but I have my doubts. I feel that the government should do a full investigation into just what these people are doing.

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Ms. Wilson
, US
Jul 21, 2009 4:05 pm EDT

I am just getting started with MGC and I am frustrated already. I was in the process of completing a modification with B of A when my loan was transferred to MGC. I was informed by B of A that I would have to begin the modification process all over again with MGC. When I called MGC I was informed that they do not do permanent modifications. I am baffled. How can you be a mortgage company in this economy and not complete modifcations. I have yet to receive my welcome package and dreading the future with them after reading the other complaints. This is the first time I am hoping my loan get transferred.

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Angie
Conroe, US
Apr 16, 2009 1:03 pm EDT

I am a widow living in Texas, and I'm going to also complain about MGC, Mtg. Co. I also wish I knew what was going on with them...and, my loan! I was halfway shocked to find all these complaints, but when I thought about it, not so surprised after what I've dealt with regarding MGC Mtg.

I have never received a welcome package or anything at all regarding my loan with MGC, Mtg. When my loan was sold originally in 2008, I received some weird statements in the mail, so I promptly called MGC, Mtg. I too had a problem getting in touch with anyone by phone. I left numerous voice mails, and my calls were NEVER returned. When I finally did talk to someone, that 'someone' apologized and agreed that the information mailed to me was incorrect, and I was asked to 'bear with us'.

The information on my loan transfer originally came from an address in Plano, TX after I had sent a payment for that month..November, 2008. When December 1st rolled around and my November check had not yet cleared my bank, I called MGC, Mtg. After several attempts, I finally was able to talk to someone in the Plano office who told me at first that 'he' didn't know anything about my loan. At my insistence to know something, I was put on hold and after some time, he returned to the line and told me that I should call Sudbury, MA, that my loan was now in that office due to the overload in the Plano office. They gave me a number to call. I called the number and was actually able to talk to someone. Unfortunately that someone didn't know anything about my loan either, saying it was probably still in transfer. I was so frustrated! Even though I was hesitant to do so, I went ahead and mailed my December payment. It didn't clear my bank til close to the end of December! And, it's been that way to this day. One HUGE problem...my November payment is still out there somewhere! I sent my April mortgage payment which did finally clear my bank a couple of days ago.

When MGC Mtg received my loan, it was in good standing with my previous mortgage company who drafted my bank account on the First day of every month as long as they had my loan. I feel it was a huge mistake to send my loan to MGC, Mtg who has managed to mangle it! When my mortgage payment checks are sent to MGC, Mtg, they do not clear my bank for up to two weeks or more. I will say, however, that they did finally pay my property taxes for which I am thankful.

I discovered recently that my Home Owners Insurance has not been paid. This after I not only called, but sent documentation in plenty of time, from my Insurance Company, along with a letter from me as to what needed, what was to be done and whom to contact at my insurance agency.. I talked to the folks at my insurance agency just this morning, and as of this date, nothing has been done by MGC, Mtg! No documentaion, no call and no payment to my insurance carrier regarding my Home Owners Insurance. Now I have 3 days to pay my Home Owners Insurance policy or it will be cancelled! This is another hurdle to climb. I need to consider getting my loan processed somewhere else!

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Ryan Maher
,
Sep 25, 2008 7:52 pm EDT

Well, They just cashed two checks. I'm still going to pay the property taxes on my own and try to get a refund from them them this century!

Good luck every one

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tehoward
East Hartford, US
Sep 24, 2008 8:19 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

This company is the pits they are returning our calls they have not sent a welcome package I am unable to get anyone on the phone other than a voicemail and no one returns your calls our loan was tranferred to this place I will not use the word company on Sept 1 2008 we nothing they have not paid our insurance we are getting laspe notices they have not paid our taxes what kind of place is this? Should we be reporting them to the State's General or what?

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Ryan Maher
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Sep 17, 2008 11:13 am EDT

Thank You for your posts Kim and Jackie. It is slightly encouraging to hear that they are now starting to cash a few checks. I had to pay my property taxes yesterday because MGC didn't pay them from my escrow account. I hope it woln't take 6 months to be reimbursed. Sine my last post I filed an FTC report from www.ftc.gov and I also filed a RESPA complaint with the RESPA HUD DEPT.[protected] The lady's name there is GERI HANSON and she will tell you exactly how to draft a specific legal letter called a QUALIFIED WRITTEN REQUEST in which MGC must reply to in 20 days or government action is taken. What a big pain in the butt this is!
RYAN

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Jacki
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Sep 17, 2008 10:25 am EDT

I marked my attitude towards complaints as "agree". When I looked back here I found it was changed to"neutral". That is not right either.
Jacki

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Jacki
,
Sep 17, 2008 10:21 am EDT

I have all the same problems as all of you. When the system is to transfer you to speak to a rep you are immediately disconnected.
I have sent e-mails and mailer-demon says cannot deliver to loan servicing, etc.
I had three payments that were showing I was delinquent which I was not. My checks (from my agent/manager) had not been cashed.
With some miraculous help yesterday a rep did say that three payments have posted as paid now. Today I tried to call to get that in writing, i.e. by e-mail a current statement, totally unable to get to a rep.
I too felt I was in jeapordy of losing my home or showing delinquent to the credit agencies. I'm not sure I am out of the woods yet.
Jacki

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Kim
,
Sep 14, 2008 7:29 am EDT

I have the same trouble i sent a check on 7/31 it was just cashed last week. I'm afraid to send in payments when the first payment just got cashed, I get the same story we are tied up you will not get any fees. I have only gotten a letter which was sent much over the 15 day time limit and no bills as of yet. I am also afraid for my home. I am calling them on Monday and we'll see how it goes. They should put some of the payments to the back of the loan and start fresh due to their mistakes.

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