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MGC Mortgage / missing payments

1 Plano, TX, United States Review updated:

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.

De
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Mi
  31st of Dec, 2008
Agree Disagree 0 Votes

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.

We
  31st of Dec, 2008
Agree Disagree 0 Votes

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

Su
  28th of Jan, 2009
Agree Disagree 0 Votes

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.

Lo
  18th of Mar, 2009
Agree Disagree 0 Votes

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.

Cr
  15th of Oct, 2015
Agree Disagree 0 Votes

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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