The complaint has been investigated and
resolved to the customer's satisfaction
Resolved
MGC Mortgagefraud 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...

Responses

  • Ca
    Calling for remittance Aug 20, 2018

    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!!!

    0 Votes
  • Je
    Jeryl Cook Aug 20, 2018
    This comment was posted by
    a verified customer
    Verified customer

    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.

    0 Votes
  • Je
    Jeryl Cook Aug 10, 2018
    This comment was posted by
    a verified customer
    Verified customer

    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 !

    0 Votes
  • Jo
    Joy Palmer Jan 05, 2018
    This comment was posted by
    a verified customer
    Verified customer

    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.

    0 Votes
  • Ti
    tiffany eaves Mar 19, 2013
    This comment was posted by
    a verified customer
    Verified customer

    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

    0 Votes
  • Ro
    Robert Alington Mar 16, 2013
    This comment was posted by
    a verified customer
    Verified customer

    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.

    0 Votes
  • Ba
    babyballerjenkins Dec 07, 2011

    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].

    0 Votes
  • Tr
    Tracy Claiborne Nov 22, 2011
    This comment was posted by
    a verified customer
    Verified customer

    PLEASE SOMEONE CONTACT ME ABOUT A SUIT AGAINST THESE THIEVES!!!
    TRACY AT [protected] Email at [email protected]

    0 Votes
  • Tr
    Tracy Claiborne Nov 22, 2011
    This comment was posted by
    a verified customer
    Verified customer

    SOMEONE PLEASE CONTACT ME ABOUT THIS LAWSUIT!!!
    TRACY [protected]

    0 Votes
  • Tr
    Tracy Claiborne Nov 22, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I too would love to be part of a class action suit against these thieves! August of 2008, they told me I was
    a month behind on a 934.79 payment, but for some reason there was 634.00 in un applied funds. I reluctantly did a check by phone for 1246.50 . Two months later, they send me a notice saying I am behind 2 months, plus late charges, assessments, and appraisal fees. Then they deny the check by phone payment, saying there is no record of it!! I have my bank send them proof twice, but they still deny another 60 days, until I get a lawyer, then they tell him that it was used to pay late fees, assessments, and other B.S like that. My so called lawyer finally came to me January of this year and said if I gave them 5, 000.00, I would be able to get current again and all would be straight. I never missed a payment though!!! I paid the money, then I get another default letter. Lawyer comes back and says Ihave to pay another 3384.00 to get the matter taken care of. All the while, every time we call this bunch of crooks, we get a different story of just what is owed. I paid the 3384.00, only to find out that now they want extra 250.00 a month for escrow
    account. This just keeps getting worse, and 2 days ago, I get my 6th default letter with intent to forclose because they say my mortgage is 3 months behind, plus late charges, escrow, and assessment fees again. Today I get another notice saying because of default, they are taking house. Someone please contact me for this lawsuit!!! I want to be a part of this if it is possible. My name is Tracy, my number is [protected]. Email is [email protected]

    0 Votes
  • Sh
    Shar Nov 09, 2011

    sorry Mortgagemaster 19, this information is not correct. They are not inundated with too much. They are not competent nor are they are real company. Check it out for yourself.

    0 Votes
  • Of
    Officer in need of justice Oct 23, 2011
    This comment was posted by
    a verified customer
    Verified customer

    My former mortgage company HSBC sold to MGC and it has been nothing but hell since!! They do not cash checks or credit your account. They gave us several address's to forward payments and then did not cash checks when we sent them. We started to fall behind according to them even though we sent payments. We started receiving letters stating that we were about to go into foreclosure. We contacted them telling them that we were willing to send payments but they declined! We were then told that they were going to work-out a loan modification with us and that we needed to forward a bunch of documents to them. We did that and then they sent two appraisers to our home to take photos. Shortly after that we were served with a summons for a foreclosure on our home. I called them and asked why and was told that they were still trying work with us on a modification. I did not feel like they were dealing in good faith with us and decided to retain an attorney. I HIGHLY recommend that everyone do the same, DON'T TRUST THEM!!! They are about foreclosing on people to flip the houses and make a quick buck! We filed a chapter 13 bankruptcy this does not allow them to take your home and gives you a plan to catch up. We are going to keep extremely detailed records of every payment sent out!!! Once back on track try to refinance with a different company. I will write in a month or two to let you know how things are going but dont believe a word they say!!!

    0 Votes
  • Be
    Belagrl Oct 22, 2011

    I am dealing with this company and having the same problems. My home is now in foreclosure and is scheduled for sale in 15 days! Our note went from $1, 500 to $2, 300 a month because they added forced insurance. Our insurance was not included in our mortgage note, we pay that separately, it is combined with our car and life insurance. MGC would not accept the $1, 500 as they considered it a partial payment. We were forced to pay the higher note for several months but it was just too much for us. We missed two or three notes in a years time, they claimed we were $19, 000 behind! I think it's too late to save our home. If you can help me, please let me know.

    0 Votes
  • Br
    Bryan C Wright Jul 21, 2011

    I too am having trouble with these CROOKS, they are holding my title to my car that was totaled a month ago over $37.15 and will not accept my payment AND are claiming to collect $2, 200 in "back interest".In the meantime my Insurance company will not release a check for my loss over the vehicle.I never borrowed a dime off of these people because my note was thru a different company and was "paid off" in 2009 with them.MGC took over the unsecured portion without any notice, in which the balance is $37.15 and to this day I have no vehicle to replace my loss because of their wrongdoings.My attorney seems to be of no help as well.HELP!!

    0 Votes
  • Sh
    Sharon RN Jun 01, 2011

    My former mortgage company sold my mortgage to MGC. Since they took over, it has been a tremendous nightmare...Although all my payments have been made, they now say that I am over $7000.00 behind. How can that be when I am sending them 2 payments a month? I am a single mother of 4 children, 2 of which are disabled. I simply cannot afford their mistakes, nor can I afford to send them that kind of money. Let me know when you sue them, class action style. I want to be part of that.
    Sharon

    0 Votes
  • No
    noCBreporting Jan 10, 2011

    I've read in various forums that MGC *IS* reporting some accounts - those with LATE payments.
    If reporting those with LATE payments, are they not required to report those with CURRENT payments, as well?
    I was under the impression that if a mortgage lender reports ONE account - it must report ALL accounts.

    0 Votes
  • Je
    Jenelk Jul 27, 2010

    I agree this company is very lacking. First off, they were taking a mysterious escrow charge out on us every month that no one knew what it was. The account is in my husbands name and they would'nt talk to me unless I faxed a written request by my husband to be allowed to speak for him. After going to the library and doing this they still say they didnt recieve it! What do I do? Well finally we got the escrow partially resolved and they returned part of what we payed in! It was very hard for me to get this far.

    0 Votes
  • Bo
    bobparsons May 06, 2010

    WE ARE ORGANIZING OVER HERE EVERYONE: >> mgcmortgagesucks dot com

    It takes a while for the moderators to activate your account but this message board is devoted to all things MGC'evil.

    0 Votes
  • Se
    sergio p Apr 16, 2010

    Please add my name to the class action law suit against MGC mortgage .This company has lost my payments then found them and has promised to correct my account for 5 months but has not done so . When I call them and let them know my frustration they let me know that im one of the few hundred people that is having this issue .I either get doulbe billing for the month or this month nothing at all . Just found out that the company is changing there name and my account number as of 4/16/10 Thanks Sergio P fax [protected]

    0 Votes
  • Sh
    SherryM Mar 06, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Our mortgage was bought by MGC mortgage from Bank of America sometime in Aug. 2009. We received nothing from them. We hired an attorney to start working with MGC to modify the mortgage. MGC was the 5th morgage company we were sold to in 2009. Today is March 6, 2010 and we still have not heard from MGC mortgage. Our taxes were not paid by MGC motgage and in result our taxes were sold on the court house steps. Now we have to pay them immediately. I have NO idea what is going on with my property. In Aug 2009 when I called MGC mortgage I was told that there was a third party investor connected with this mortgage. I was never aware of anything like this...our mortgage was originated with a reputable mortgage company and NO third party investors. This company should be brought down and there CEO thrown in jail for a long time. How dare they mess with our life long acheivements. Who is protecting us now!!! If anyone has started a suit against them please let me know, I am on board!!! I am now hiring another attorney to try and figure this out.

    0 Votes
  • Ph
    philcamille Mar 05, 2010

    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

    0 Votes
  • Li
    Lizk Jan 29, 2010

    I am so in with any lawsuit. They have been processing my checks but have NEVER updated their files. Now they tell me I am 30 daus part due. This company is a total rip off. How do we get this fixed!! They are going to kill my credit!

    0 Votes
  • Al
    Alyssaalana Jan 12, 2010

    * * * * * * CLASS ACTION LAW SUIT AGAINST MGC * * * * * *
    Please contact me [email protected]

    0 Votes
  • Al
    Alyssaalana Jan 12, 2010

    If anyone is filing a CLASS ACTION law suite against MGC please contact me.
    [email protected]

    0 Votes
  • Mo
    Mortgagemaster19 Nov 12, 2009

    Although it is frustrating with the mortgage transfers they are probably so innundated with loans that they cannot function. The law states they are required (Servicing Disclosure) that the company let you know after 15 days that they are your new mortgage holder and cannot show you as being delinquent. They have 60 days to work it out. As far as reporting mortgages to a credit reporting agency, you are out of luck. No company is required to report to a credit agency. The credit agencies are private companies that are for-profit and we as consumers are conditioned to believe credit has to be reported to an agency. Nothing makes this situation right but it is what it is. They most likely are not going to steal money from you. They are trying to figure out their systemization and trying to have continuity with file transfers. Just imaging loans sold 3-4 times, some are in default with attorneys and then a new person has to sort it out. They, most likely, purchase your mortgage at a steep discount and would like for you to take your business elsewhere which will help them make money. Imagine, if a mortgage for 100, 000 was sold for $50, 000 and then you pay it off! They would clear $50, 000 and can head on down the road. They have opened themselves up for exposure but the situation is the same as if a lay person were able to handle 20 files in a given day to service customers and then they are told they now need to handle 200 daily. Any worker would be ready to give up and definitely would not want to take the crazy calls when they know they cannot keep up.

    -1 Votes
  • Yc
    y. cooper Nov 09, 2009

    Most of the problems mention by everyone i've had with MGC. I was bought from homecoming in '08. i wasn't in the system so they wanted me to send them my payments anyway and said they would update my account. I didn't like that idea so i didn''t send any payments. when they were finally up i sent in my back payment which were about 3 of them then i was sold to gmac and again back to mgc...somewhere between the buying and selling a payment got lost now i'm behind. since i've been w/ them this time... they've given me a new acct num..its alot of 0's and4 digits and a packet of papers w/some info and their phone#...when i mentioned the lost payment they said they would investigate and get back to me and of course nothing was found according to them. I have received statements from them and have spoken w/customer service when i was able to understand them...but no doubt this helpfulness is probably resulting from the people here trying to get justice...i'm disabled and on a fixed income, playing catch is not even a remote possibility. And after sending in your payment it take them 10 days to add it to your account and that's not even including travel time then u get a threatening letter. I WOULD LIKE TO STAY POSTED ON THE LAW SUIT. Thanks and good luck

    0 Votes
  • Hu
    huntergirl Oct 31, 2009

    I belive everyone is having the same issues. We sure are. Our mortgage was sold to MGC from Countrywide. I've made one payment, which has actually posted. We are now having some financial difficulties as my husband is self-employed. We contacted MGC and they took all of our financial information, but have not contacted us since. We now have 3 payments due, but I cannot get ahold of anyone to see where our account stands. If I do get through to someone, they either put me on hold, which then rings over to a voicemail, or they disconnect me. It's sad and ridiculous that these people can have us scared and stressed about losing the only thing that alot of us have left. And if you do get a human on the phone, they don't know what they are doing, or don't speak enough English to properly help you if they did. I honestly don't know what can be done. But if anyone has any ideas, I'm open for suggestions. Hang in there everyone!!

    0 Votes
  • Gg
    gg00 Sep 17, 2009

    I am going through the samething, I have sent them many letters and have not heard from. Also have left a many messages like others on here and still no return phone calls. My mortgage was with Homecomings before being transfer to them.

    0 Votes
  • Tr
    Trecman Sep 09, 2009

    This company has just bought my Mortgage and needless to say that after reading all of the complaints against this one company I am concerned and very weary about doing any business with them at all. Like many others, I have yet to receive a statement asking for "X" amount of money. My mortgage has always been payed on time, always... UNTIL NOW. I will not be sending these thieves a dime, since they have yet to send me a statement. And question, how can they charge late fees when they have not sent out statements requesting any payment. This company has some serious issues and the State Attorney's office in Texas should be notified. if I have ANY problems at all with this company which now OWNS my mortgage I will be joining those of you whom are seeking out a class action law suit.

    You'd think that this company would have been closed down by now, seeeing as to how many people they have literally screwed over. I am disabled, live on a fixed income and will not be throwing my money away to a bunch of thieves. My home is all I have left, since my health has deteriorated dramatically over the past few months. The stress involved of dealing with this company will surely have a detrimental effect on my health and if that is the case MGC will also be sued for needlessly subjecting me to this stress. Stress is what is killing me and MGC has just added a lot of stress to my life. I hope for their benefit they do the right thing and send me a PAYMENT/STATEMENT soon... It is already the 9th of the month and I have yet to receive any statements... Not even a Welcome to our Family pack, NOTHING. But I have read these pages and am now mortified of what is yet to come.

    Peace to all and good luck.

    0 Votes
  • Ag
    agonzalez Sep 01, 2009

    1. they are not applying payments
    2. charging me 2% higher interest rate than what is in my note
    3. refusing to refund my escrow excess because they say the account is past due - see note 1
    4. they hang up on you when you actually get a person on the phone
    5. I was told to fax all proof documents to one number a month ago, now they are telling me I should have faxed everything to different fax numbers for each issue
    6. applying negative amortization on the loan

    I'm having the same problems with MGC, should i get an atty?

    0 Votes
  • Si
    Sick of MGC Aug 19, 2009

    I'm having the same problems with MGC. They bought my loan 3 months ago and
    1. they are not applying payments
    2. charging me 2% higher interest rate than what is in my note
    3. refusing to refund my escrow excess because they say the account is past due - see note 1
    4. they hang up on you when you actually get a person on the phone
    5. I was told to fax all proof documents to one number a month ago, now they are telling me I should have faxed everything to different fax numbers for each issue
    6. applying negative amortization on the loan

    I'm consulting an attorney today to see what I can do and I am also filing complaints with the FTC and the BBB. This is just outrageous!

    0 Votes
  • Co
    comaltexas Aug 17, 2009

    You aren't kidding they are so screwed up its not funny. From them not properly crediting payments to railroading customers on loan modifications to raping people with high interest rates on adjustable loans, etc, etc, its ridiculous to say the least. Hate is a kind word in this case.

    0 Votes
  • Fr
    FreddyKristiansen Jul 07, 2009

    Wow - I thought I was alone in hating MGC.
    My loan was sold to MGC last year - and my story is the same as all the stories I read here.
    Suddenly my loan was sold back to GMAC - only to find out that two of the payments I made to MGC wasn't registered and GMAC was about to put me on foreclosure.
    I was very awake during the entire time - had everything backed up, all payments on time and contacted an attorney who threadened with a lawsuit against GMAC if they where to put me in foreclosure. He also wrote to MGC and suddenly they found my money and I was good.
    In the meantime I had to pay my home owners insurance myself - because they didn't get their act together and my insurance company was about to cancel my policy.
    Back at GMAC I thought I was in the clear - but now July 1st 2009 - MGC bought my loan again - and it seems like everything starts all over.

    I hate MGC Mortgage!

    Freddy Kristiansen

    0 Votes
  • Ej
    Ejmcconnell Jul 06, 2009

    My mortgage was sold to MGC in July 2008, I was with Waterfield Mortgage prior. I started with applying for a loan modification in September 2008, as my mortgage was a 2-year arm and wanted to modify my interest rate prior to the acceleration on January 1, 2009, however, as of today, 7-5-09, I have gotten the run around from MGC. They advised me in April 2008, that they still have not heard from the "negotiators" on whether I would be approved for the loan modification, therefore, they were requesting that I send in 3 monthly payments, on time and once the payments were all made on time, the loan modification process would continue. The CSR mentioned that they were doing this so that my file would look better when it was sent to a negotiator. I sent the payments in, however, before I sent any payment I requested something in writing indicating that I agreed to the 3 month payments and the CSR indicated that they would not give anything in writing and if I didn't make the payments, they would begin foreclosure proceedings. I have been working with a CSR named Chevette Wade and she has been very helpful. I am still hoping that I will be approved for my loan modification, however, I just learned that after I make my July payment, I must submit a whole new package for the loan modification, per Chevette, I asked her why I had to fill out another packet and she indicated that the last one I submitted was now out dated, I told her that was not my fault, why did I have to prepare another one? Why hasn't my loan modification request been looked at? She only said, she would send me another application along with a list of items required to begin the process again. I have been so stressed out over all of this mess, I want to save my house, but I don't feel I am getting help from MGC. I can never get through to them, however, Chevette gave me her direct line and she always calls me back within 48 hours, sometimes if I call over and over again, she will pick up the phone. She has really been helpful. MCG was not taking my payments which put my home in a foreclosure status and once they said they would take my payments so long as I agreed to the 3 month of payments on time, I received letters in the mail, the very next day that I agreed to the 3 payments on time, indicating that my foreclosure sale date was 7-3-09, I panicked and got on the phone with Chevette, she said just make my payments by 6-22-09 and once I made the payment via Quick Collect western union, call her with some MICS number and she would put a temporary hold on the foreclosure. I did as she indicated and low and behold, my house was not sold. I feel so helpless though. I need help and don't know what to do.

    0 Votes
  • Ja
    J.A. Jun 24, 2009

    Well, I am in the same boat. I had Homecomings and everything was fine. Made my payments online, etc--then last July, I went online to Homecomings, and could not access the online payment page. I called and found out that my mortgage was sold to MGC 1 July 2008. I never recieved any notice. I called MGC and was told the same thing as everyone else. Just continue to make your payments. Thank God, I always printed out the payment confirmation page from my online bill pay. So I had a record! When the payments were not clearing my bank, I called MGC and was told they were running behind, but just keep sending my payments. Which I did. Then my mortgage was sold to GMAC effective Nov1 2008. Everything seemed fine, until I started getting calls from GMAC about a payment not recieved. I faxed all the copies of my payments to MGC to GMAC and told them to find it. It took 8 months for GMAC to locate it, but they finally did. Now my mortgage is sold again back to GMC effective 1 July. I am really nervous as I see from these postings that nothing has changed with them. There seems to be a pattern here--Homecomings to MGC then to GMAC. Add me to the list of interested parties for the lawsuite.
    Joanne

    0 Votes
  • Ta
    TAMMY MARIE ARNOLD Jun 08, 2009

    I AGREE WITH ALL OF THE ABOVE DUE TO THE FACT THAT ITS HAPPENING TO ME TOO.
    [email protected], TAMMY MARIE ARNOLD, 475 GILTEDGE GIN ROAD, BURLISON, TN 38015

    0 Votes
  • Ka
    Kathy in mortgage hell May 09, 2009

    Your stories are my story. I was in the process of refinancing my ARM when CitiResidential sold to MGC on 9/4/08. Today is May 11, 2009 and I have still not gotten a correct pay-off letter to refinance. I AM IN MORTGAGE HELL!!! I stopped paying them for a few months, thinking I would "let the dust settle". Nothing changed. I got a letter threatening foreclosure, so I called them and they took a $5, 000.00 payment over the phone, after I told them I would NOT pay them a fee. She waived it. She said this would stop any foreclosure issues and to continue paying my monthly payment. (Which I cannot afford due to a 8.99% interest rate). She sent me loan modification papers. I am in the process of filling all that out.
    A week after I made the payment, I got a letter from a lawyer for MGC stating I owed them some outrageous amount of money, about $25, 000 over my original mortgage amount and stating if I did not dispute this in writing over 30 days, they would collect the debt.
    I also have the problem of being charged for homeowners insurance. It happened right at the time of the sale. I have faxed my homeowners policy several times and they are still billing me an ADDITIONAL $225 to pay for insurance. I can't explain this to anyone. They speak English, but they don't understand it. We are the enemy to them.
    My loan broker said they stopped reporting to the Credit Bureaus so it would be impossible to give a new lender any credit history, proving I had paid. No to mention, no pay off letter.
    I am at my witts end!!! I can't sleep.
    email me at [email protected] I want to be on board with any action that is taken, as well. I will help where I can, too. I hope this thread will convince a new mortgage company what I have been saying all along is true and I can get away from this rip off institution asap.

    0 Votes
  • Di
    Distress111np Apr 28, 2009

    I was in the same boat for like a year. Homecomings use to service my loan or own it, i'm not sure who owns my loan. Initially, my loan was owned by a bank in california and then it was sold to homecomings. Well apparently the first owner never send every single paper to Homecomings so they never received my insurance papers. So thinking that i had my insurance papers in order i didn't pay attention to some letters, and i ignored it. So later, my payments starting changing, so i called homecomings why this changing. Apparently, Homecomings believed i didn't have insurance, so the force a placement insurance which cost a lot more than my original insurance. So finally after fighting and calling them and calling my farmer agent i got it straighted out. Replacing the force place insurance with my original insurance, and getting reinburse.
    But the next month, my loan got sold or transfer to MGC mortgage, it got a letter that it say it was transfer and my payments should be made to MGC. Well, so it did for three months. And i was checking that MGC was receiving my payments because i wasn't getting any type of receive at all. MGC kept telling that since my account was in transfer mode it was gonna take sometimes to update it. Well, i kept making the payments amount that was agreed when homecomings fixed the insurance problem. So for three months, i send payments in the amount. So three months pass, and i got another letter saying my account was going to be service or transfer again to GMAC. Not until then, i found that i was behind in payments and the payments that i made were not the amount expected. So apparently, Homecomings never updated MGC of my insurance error. MGC never updated my account, and never applied all my payments and they even lost a money order that i stupidly sent.
    so it took me like six months to fix these problems with GMAC, and to get my payments back to it was when i bought the house. I called MGC to send my copies of payments and receives to get things fix, but they wouldn't give to me. They kept saying GMAC was supposed to fix any problems. And they didn't have any records.

    So finally, I proved my case with GMAC that what i was claiming was right, but even then GMAC was making mistakes and my escroll was negative because GMAC sent an early Taxes payment. The took me another week to fix.

    I believe this company are trying to make people foreclose. So if you are having this kind of problem, just keep calling these company and ask for supervisors. Don't talk to the people the answer the phone. They don't know anything, they usually tell you anything to get rid of you.

    0 Votes
  • Di
    Disappointed Apr 11, 2009

    OMG! I can't believe this! We too have fallen victim..We always paid online thru our old loan co., Green Tree and now I call MGC & the automated system (which is the only thing accesible) says...INVALID acct #..surprise surprise! Now I am late! My first statement also shows a month late which is B S ! I can't believe a mortgage company doesn't have a website to begin with..these people truly need HELP! and so do we!!

    0 Votes
  • Up
    upset Apr 07, 2009

    I'm in the same boat. I have left several voicemails today and still no call backs. How do you make a payment when they won't talk to you. Do I need to consult a lawyer over this? Thats more cash to put out then. How can this company get away with this?

    0 Votes

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