The most trusted and popular consumer complaints website
Explore your opportunities! Create an account or Sign In

Morequity / Harassing Phone Calls!!!!!

1 P.O.Box 3788Evansville, IN, United States Review updated:
Contact information:
Phone: 1-800-205-8640

These people call you if your 1 day late on your payment!Then if you are stupid enough to answer the phone, they'll try anything to get a payment over the phone.We've had a home loan with them since 2003 and weren't hardly ever late till my husband lost his job last year.Now, we are right at 3 months behind and they are threatening to foreclose!I know they would love to since we just owe them 50, 000 and our home is worth at least 3 times that amount.On top of their late chgs. they are trying to get even more!This is THE worst company I've ever dealt with.I think I'll file bankruptcy on them if they keep it up!

Sort by: UpDate | Rating

Comments

  • To
      24th of Apr, 2008
    0 Votes

    These people call you if your 1 day late on your payment!Then if you are stupid enough to answer the phone, they'll try anything to get a payment over the phone.We've had a home loan with them since 2003 and weren't hardly ever late till my husband lost his job last year.Now, we are right at 3 months behind and they are threatening to foreclose!I know they would love to since we just owe them 50, 000 and our home is worth at least 3 times that amount.On top of their late chgs. they are trying to get even more!This is THE worst company I've ever dealt with.I think I'll file bankruptcy on them if they keep it up!

  • La
      21st of Jan, 2009
    +1 Votes

    I will say that they did the same thing to me. However when I threatened to let them have the house, they were more than willing to work with me. They did a loan modification by lowering my intrest rate, and extending out my loan to help. I will say that the calls are a pain, but if you call them, they will work with you given the circumstances of todays market.

  • Sf
      18th of Mar, 2009
    +1 Votes

    My wife and I are currently trying to get them to modify our loan and they have denied us twice. We're school teachers. They are threatening to cut our pay by 10% and they want to raise our insurance. I think they just might have to take the damn house! It hardly seems worth it anymore. In the meantime, I am paying intrest on a $1400.00 fee that I have paid a 3rd party legal fee in attempts to negotiate with them. Don't ever work with them if you can help it. If you do get stuck with them, refinance as soon as possible!

  • Ma
      6th of Apr, 2009
    +1 Votes

    I am going thru somthing just like the above!!! I have 5 months left in a prepayment penalty and I asked if they would waive it they came back and said 50%. I said that they could have the house since I am trying to do the right thing and let tem get the monwy that is owed on my loan. Why can't they let me out of this, I have paid my payments on time do you really need to tack on another $10, 000 because I want eo pay it off????

  • Fr
      17th of Apr, 2009
    0 Votes

    I have had my morequity loan for 5 years now and I have only been late one time during those 5 years. I paid my loan on the 16th at 7pm pacific time and I was charged a late fee. I called the next day to see if they would waive the late fee because I did pay it on the 16th and they said I would have to submit it in writing, but my payment is due on the 1st. I agree my payment is due on the 1st but I get paid on the 15th and for the last 5 years have always paid on the 15th or the 16th so that I fell within the grace period. I have for the past few months receiving calls at least twice a month wanting me to make my payment via phone and I have told them over and over again that I can't pay it until the 15th. They are rude and not helpful if you get a loan with them run. Oh yeah and they don't qualify for the stimulus refi because they own their own loans and I too was turned down for the remodification loan once before and they told me a could try again, but what to be turned down again because they are under no obligation to help.

  • Ge
      2nd of Jul, 2009
    0 Votes

    I agree with all the above. MorEquity is the I mean the "devil" in a human flesh. You can be lying in the hospital with all limbs missing and two eyeballs blown out, they don't give a damn.

    Nat in Denver

  • Fa
      12th of Mar, 2010
    0 Votes

    I too am having problem with Morequity. I applied for a loan modification in March was offered a $20 saving, which I refused. In January of 2010 I again applied for a modification under HAMP. On 3/9 I received a letter informing me that my application was denied. On 3/9 I receved another letter stating that my application was approved and giving the terms of the modification. The terms are the interest rate remains the same, the loan was extended for another 5yrs so the payment was reduced by $88. The only person this help is Morequity as they would be adding another 50k+to their bottom line. This company as a subsidary of AIG got over $180 billion in bailout money but refuse to help homeowners who are having financial difficulties.
    I wish someone would expose them for their insentivity knowing that it was our money that bailed them out.

  • Je
      3rd of Apr, 2010
    0 Votes

    Nope and I work there--- pay your payments people! Jennifer

  • Me
      18th of Jun, 2010
    0 Votes

    Question for all to ponder. What possible reason could a prudent business have for disallowing a payment? I also am a victim of this wonderful economy, and during the 5+ years I have had a mortgage with Morequity I have been 30 days late once, before this month, now is the second time. I now find myself trying to catch up only to be harassed by their employees asking to update information. I simply want to make a payment.
    When this mortgage was originated, I was duped by the broker and the mortgage company, by not being informed that there was a prepayment penalty for 5 years, that was a mere 5% of the mortgage balance. What a ploy, to expect that much more, to pay what you owe.
    The first time I knew the penalty existed, was the day before closing, when I received the package, that, by law was to have been in my posession prior to the night before closing. I still have the original package, with documents, in my posession. I did object at closing, but was told, nothing could be done, and I had already vacated my previous residence and people were on the way from Florida to move in to my previous residence. I sent letters to all the mortgage companies and the broker requesting a waiver of the penalty, and as expected, they simply took advantage of the situation. The AIG group and the original mortgage company never had any intention of maintaining my mortgage, as it was transferred to Morequity before the first payment was made. Of course they are all affiliated.

  • Fr
      4th of May, 2011
    0 Votes

    omg im glad its not just us having problems with morequity, they would call day and night if we were one day late, they would even call us a week before it was due just to remind us it was due, we were denied twice for modification on our loan, we were lucky enough though to get bought out by another mortgage company who have been awesome, we have been with them for 3 months and have been approved for modification and is going smoothly, there is hope out there people just get rid of morequity (:

Post your comment