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Midland MortgageFraud and cheating

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Our mortgage was sold by GMAC to Midland Mortgage in November 2008. I have never ever dealt with a company as heartless and unwilling to even take calls or money as this company. I call them daily to try to discuss a work out solution for our mortgage, offering cash for a forbearance plan that they suggested. The amount they want changes constantly and now they hang up on me after passing me from one non-knowing customer service rep to another.

All I wanted to know is, what we owe on the house and how much they claim we are past due. After notifying us with one figure, they claimed we had money sitting in escrow so would owe less. Then when it came time to wire the funds, the number changed by 3, 000 more. No explanation - they don't know why? At this point, we are days from loosing our home, have the money to send but are afraid it won't get applied and we will be out the money and our house.

With everything in the news about how there are so many programs and banks are supposed to be helping people keep their homes, someone needs to tell this to Midland. I feel it should be illegal for them to hold the mortgage on your home and not be willing to service it according to law. I feel like I want to say forget it, they can have this house - since they won't even answer any questions or give me an accurate figure. That only hurts me.

I am sure there have to be others. Our loan is a FHA loan and it seems there should be guidelines they have to follow? This whole thing is unbelievable, that they should be in business. I would be willing to join a lawsuit.

Responses

  • Ti
    Tired in Louisiana Feb 14, 2010

    Good luck if you are hoping HUD will help you out, I called HUD and they assigned my case to the servicing center on Oklahoma City only for me to get a representative that was a previous MidFirst/Midland employee. She provided no assistance whatsoever, all she did was reaffirm Midland's rights to assess all sorts of inspections fees, late payment fees and wiring fees etc. I have sought counsel and he is working on the matter now. I will not give up I will make sure they are in compliance with TILA and RESPA.

    -1 Votes
  • Ma
    madscientist_42 Nov 23, 2009

    There are guidelines to follow... Unfortunately Midland's typical business practices tend to be in violation of them.

    $1000 "late" fees are the norm.
    Mystery fees are also the norm.
    Until they were allowed by HUD to fold in legal fees into the plan modifications, they'd lie about the durations of in-arrearage to "get those paid for".
    They won't follow proper amounts as required by HUD for the modification (They're allowed to only charge 1.5% over debenture rates for the modification as a MAXIMUM)- they typically charge more.
    They'll misplace partial claims that you've actioned, claiming they never got them, and then send them again with the paperwork being different and the amount being more.

    Everything they do appears to be predicated on getting you to eventually default on the note and precluding you from getting out from underneath
    their "servicing" unless you've got stellar credit. Unfortunately, most of the poor souls that have this bunch as a Mortgage Company at this point
    are with poor credit and unless you meet the criteria for a streamline, you're going to be stuck with them. Until you get to a position to get a
    streamline refi, pay the note off however you can, improve your credit so you can do a regular refi...or lose the house.

    Right now, I'm talking with HUD over their latest loss-mitigation fiasco I'm involved in. We'll see if HUD gnaws them a new one, or if I need to retain Counsel.

    0 Votes
  • Ro
    Robingd Mar 21, 2019
    This comment was posted by
    a verified customer
    Verified customer

    @madscientist_42 I have retained council, this mortgage company is unscrupulous, my mortgage was sold to them during the hurricane and they did not honor the previous companies terms of a deferment. they wanted a lump sum payment or a modification. Their modification increased my interest rate more than the allowed rate and my payment giving themselves over $100, 000. more over the life of the loan. With help like this you don't need enemies. I refused the modification and paid up what I owed now they are still trying to raise my payment but through my escrows, stating I owe a cushion (HUD states only 2 payment allowed) they want a years worth. They are requiring me to pay back $1700. for a wind'n hail policy I was paying myself and was not required by my original terms sold to them. They paid my policy and now require me to pay them plus a new policy for 2019 (not due till September) making double payments till September. They are not applying escrow payments of the last 6 payments. Where those monies are I don't know. They also have destroyed my good credit rating by reporting by reporting the deferment payments as late 90, 60 and 30. This all because I refused their modification and paid all back payments on my own. I have had 4 homes in the past and never missed a payment. They probably know this and want to increase my payments as a result. They took advantage of a federally declared disaster. SHAME on them!!

    -1 Votes

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