Our loan was sold to EMC in August. We didn't recieve notice of this until August 15th, by this time we had already sent our payment to the previous servicer. We called EMC to let them know. They said it is their responsibility to get that payment from them and we should not worry about it.
Well each month after that we were making our mortgage payment and EMC would apply it for the month before because of teh missing payment. We got default letters and calls every day. We called EMC everyday and explained teh situation to them. They said to ignore the letters and that they know they need to get the payment form the previous servicer.
Well it is now December and I have dealt with EMC for too long about this. We decided to refinance just to get the loan away from them. We ordered a pyoff and it came back for $8,000 more then the origianl loan amount. We should have been paying down interest each month. EMC has no explanation to this at all and they have the worst customer service each time I call. I have been asked to hold for no less then 45 minutes each time i call to talk to a supervisor.
Also EMC doesn't apply payments recieved until you call them and tell tehm where to apply the money. Even though you send in a stub with the payment they hold it until you figure out that they have not applied teh payment and by then they charge you a late fee.
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