In November, after just 1-1/2 years with GMAC home mortgage, who by the way promised they never sell their mortgages to other lenders, they sold our mortgage to Midland Mortgage Co. Liars! My antenna went up and my heart palpitations began. I went through one of these switch deals 12 years ago that ended with my losing my home and going into full bankruptcy. We have not been late on a payment with GMAC. When I asked why we were sold, they said they had every right to do so and that we were a good risk and therefore a good sale for them to move money. It doesn't matter that the consumer doesn't want a change or requested one.
I then called Midland, and they promised me they would have an online payment program set up by the 1st of the year. My first payment due them was Jan 1, 09. I mailed the payment on Jan 2nd. Today is Jan 8th, and I have been watching my accounts and find they still have not cashed my check. I called their offices. The rude woman on the other end said they can't cash a check I didn't send! I told her I was concerned because I didn't want any problems with their bank, and they have no internet payment process and no local payment agencies. She said they had no plans for either, that it is our responsibility to be sure they have the payments on time, and that they cannot be responsible for lost mail deliveries. But apparently we are! She said I can mail another payment, which would bounce to high heaven if it cleared at the same time as the first one. Or I could pay on the final day by phone and pay an extra $20, or pay the late fee the day after of $31.97.
I think this is their way of lining their pockets and setting people up to steal their homes through forced foreclosures. I don't feel I am jumping the gun, as I had this happen with a company called Equicredit/Select Service out of Utah years ago. Even though the bankruptcy courts ended up filing against them for contempt, I still lost my house, my cars, my job, etc. I am not about to sit by and watch this happen again!
I checked with my bank about electronic payments and found out that they only mail a check as well, which was a big surprise. So that doesn't help either. I have decided to watch this very carefully. If need be, I will pay again this month, but from now on I will send it to them by certified mail, signature requested, and keep all my documents. I suggest you do the same. I had kept a copy of the payment slip and the check I mailed, and I was told that doesn't prove anything until they get the payment and post it. What is the consumer to do?
All I want in the latter years of my life is a home and as few hassles as I can get. Now here we go again on a roller coaster caused by the greed of someone else! How do these people get away with being licensed and handling people's lives in such an irresponsible way?
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