MGC Mortgage — class action suit
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 [protected]@yahoo.com I have already started this suit please don't be left out!!!