EMC Mortgage ripoff Irving Texas
The balance on my EMC Morgage loan is less than $9,700.00 (Home Value $98,000) to pay the loan off with EMC Morgage, but EMC refuse to release the title in my name. Therefore, the EMC loan is not in my name, but the house is in my name and EMC refuse to change title information over in my name without me asuming the loan and running my credit.
I am not sure if EMC is doing the right thing because of the telephone conversation I have had with EMC "Underer Writer". The house was has a warnty deed inmy name and my mother ElDora Lay passed in January 2004 and I have been trying to assuming the loan, but EMC has not been any help and there has also been lost in paper work. I am not sure if to hire an attorney because of the small blace on the loan, but EMC stated if I do not go through the assumption process the title will not be release in my name and the intrest on the loan is 12% and I can not have the loan refinace because the loan does not have my name and I am confused.
I have been paying on the loan since 1999 and EMC is aware of this because I copies of checks to prove my aligation and other issues in regards to EMC. If there is anyone who is able to give me any advise pleae feel free to contact me through the rebuttal key.
Chayo
APPLE VALLEY, California
U.S.A.
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3 Updates & Rebuttals
John
Louisville,Kentucky,
U.S.A.
Probably not a problem, depending on the law of the state where the property is located
#4Consumer Suggestion
Wed, September 01, 2004
Depending on the law of the state where the property is located, the name on the release should probably be the same as the name on the mortgage, regardless of who the current title owner is. To be sure of this, you should probably contact a title attorney in the state where the property is, but I would definitely talk with a lawyer before going through an "assumption" process with extra fees, etc.
VB
Irving,Texas,
U.S.A.
Ex employee of EMC MORTGAGE CO. ..company run by schemey people ready to scam if given the chance! DON"T LET EMC MORTGAGE RUN AWAY WITH YOUR HOME!
#4UPDATE EX-employee responds
Mon, August 30, 2004
The reason why so many reports on EMC Mortgage Co. was filed is because it really IS a screwy company run by schemey people ready to scam if given the chance. Half of the employees there do not know what they are doing.. why? Because the turn-around rate of employees is about 6 months. So every 6 months, someone new joins w/o proper knowledge of their job or even the industry! EMC is a small company with only ONE office located in Irving, TX. There is about 1000 employees. Why am I telling you this? Because it is vital to supporting your choice of sueing this awful company... getting your home back and putting them out of their misery. This is a small company so winning the lawsuit is in your favor-- by all means, go for it! They are scared to death about lawsuits. The only thing that will not go your way is that this company is under a subsidary of a much larger company - Bear Stearns. But don't let that discourage you.
DON"T LET EMC MORTGAGE RUN AWAY WITH YOUR HOME!
Brent
Greenwood,Indiana,
U.S.A.
Chayo.....
#4Consumer Comment
Fri, August 27, 2004
i too had a mortgage with EMC. I ended up going through a divorce and EMC would not give me the time of day nor help me in any matter. I tried to explain to them that SHE was in control of the finances til i figured out the was not paying the mtg, but, byu then, it was too late. I was already 3-4 months behind.
Emc stated that after 90 days, there is not negotiating or starting up a financial plan to assist. They demanded i pay the full amount owed within two weeks or it would be sent to the courts. I contacted an attorney who put a stop to that and eventually sold the house.
I STRONGLY SUGGEST you contact an attorney a.s.a.p. !!!!