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MGC Mortgage

Posted:    

class action suit

Complaint Rating:  100 % with 4 votes
100% 4
5
Contact information:
MGC Mortgage
Plano, Texas
United States
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 subprime 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, and I genuinely hope to be proven wrong, however as it stands this is a true statement!
Before we get into the nuts and bolts of contact information and qualification for MGC loan modifications, here are a couple of sites that provide a good picture of MGC go to ripped off.com, zoom, answerbag ect people please call me or email me billybear2004@yahoo.com I have already started this suit please don't be left out!!!
Complaint comments Comments (8) Complaint country United States Complaint category Loans

Comments

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N  18th of Jul, 2010 by    0 Votes
MGC FRAUD

Like everyone here the same is happening to us they never sent a us welcome package nor do they paid our insurance or taxes. Not only that we found that MGC went under and another bank took them over however the fishy thing about this is they are still using the same name MGC doing the same exact things as MGC. I live in CT and I have written a letter to Richard Blumthol are State Attorney General Office but I have also been looking for someone to take this case I have contact Mr Weidner in PA whom specializes in CLASS ACTION SUITS. Please people help me fight these people are frauding us escrowing money and then not paying it, fraud remod's, they are stealing etc. . We need everyone to be apart of this no matter where you live we need to start this asap. I have never listed my name and number like this before but you must understand how serious this THEY ARE TRYING TO TAKE OUR HOMES ARE YOU WITH ME? thanks
T Howard 860-568-4808 email billybear2004@yahoo.com
N  21st of Jul, 2010 by    -1 Votes
As an authorized representative of MGC Mortgage, I ask the customer who posted this complaint to contact us directly at mgccomplaintescalations@mgcmortgage.com. We will be glad to work with you on this issue.

Thank you.
A  17th of Dec, 2010 by    0 Votes
Billybear,

I want to join you in the class action against MGC. I sent you and e-mail about same. We've got to stop this company.

C. Foster
N  4th of Jan, 2011 by    0 Votes
I would like to add you to my list can you please call me to discuss 860-568-4808
A  13th of Jun, 2015 by    0 Votes
My stepdad has done everything mgc has asked.he has sent documents multiple times.only to receive a letter stating they didnt get them.today he receives a letter.
dear customer,
We have completed our review of your request for a loan modification or other foreclosure alternative and have determined that you are ineligible for reason listed below:
Loan modification
you did not provide the requested documentation by the deadline. (Documents have been sent in multiple times )
You mat obtain additional documentation to support the denial decision upon written request.
what lawyer do i contact?
cause this has effected my dad health.so in turn i want to make sure he doesnt worry about another bill in his life!!
Rcw91@yahoo.com
A  25th of Aug, 2015 by    0 Votes
I would like to be added to the class action law suit against MGC Mortgage?
A  13th of Jun, 2017 by    0 Votes
I am in agreeable with what others have said regarding MGC/LNV Corporation. My father took out a Countrtwide loan that was later taken over by MGC. It was an payption arm loan that ballooned when he was 77 years old. The payments went up $3000. There is no way he could pay that at 77 and battling cancer. He was stressed out and I strongly believe the stress of fighting with MGC brought on his illness. He tried to obtain a loan modification and was denied. He pasted shortly after the denial and now MGC is trying to foreclose on the home that my father worked so hard to build. My 75 year old mother and 93 year old mother live in the home. My mother is on title but not on the loan. MGC will not modify or let her assume the loan. They will only accept payoff or reinstatement but the original loan was a predatory loan that has never been restructured and MGC has been shady in there dealings as well. You send them documentation and they say they never received it. They would not speak with my mother or any members of my family after my dad died because my mom was not on the loan. She is on title so they should have been speaking with her. I am writing a letter to the Attorney General, and Senators in Missouri where the home is located as well as a complaint with The Consumer Financial Protection Bureau. The behavior of MGC/LNV are unconscionable and they need to be stopped.
A  13th of Jun, 2017 by    0 Votes
I would like to be added to the list. My story is a super long one which consisted of 4 loan modification requests due to my husband having a heart condition and we couldn't pay our payments that we were behind on our mortgage, which consisted of 6 payments at that time, only to be turned down for paperwork by each one we filed because of their own negligence as they sat on them for months on end. Long story short; we ended up filing bankruptcy and they paid our back taxes, which forced us to re-file for bankruptcy after only 1 year left of a 5 year plan. Mind you that our back taxes were already being paid in our plan but they wouldn't listen to any of that, of course. They jacked our continued mortgage payment so high and we were still paying the Chapter 13. We lost our house in the end and all because of them and their negligence. I want in on this class action suit. I want them shut down like we were pushed out. Please add me to the list. You can contact me @ 570-606-8477.

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Illinois
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