We had MortgageIT first. They sold our loan to EMC last year Nov. We had so many different troubles with MortgageIT from the start. We wanted to rescissions our loan but they wouldn't answer us or talk to us until after the 3 day then this is what they said. 3 days of Rights of rescissions has gone way too past the 3 days of Rights Of Rescission and if they ever got audited they would be fined. Anyway we were stuck with the loan and they sold our loan right away to EMC.
Well things gotten harder for us with this loan so we file bankruptcy. We file bankruptcy back in Fed 2006. So when we file the trustee said he would pay the bal we owe to our mortgage company EMC out of the money we send the trustee and for us just to keep paying our mortgage payment like it we just started. We started sending it on time but we got charge late fee and it has a large amount saying we owe then which it not the right amount and really that what the trustee has to pay them.
Now two months we send the payment two weeks late because we had to pay the School tax's and now we are being charge late fee inspection fee and we were put in a Suspense account and something Elsa call outstanding advance due by borrower. When we were sending the payment on time I send extra so it can be put on our principle because we have an interest only loan that we didn't know what we were getting into. We try to send a little extra for principle but they never put it toward principle it goes on the late fee.
We had gotten our mortgage with MortgageIT and they sold it to EMC and they really screw us. I wrote all over the place but the Banking Department and OCC The Office of the Comptroller of the Currency - Federal Trade Commission -HUD -Better Business Bureau they have don't noting they all pass the buck. So we are stuck with this mortgage and we can seem to get out of it.
We try refinancing and know one will touch this loan. We didn't even know we had a interest only loan until now. After all this happen I started doing research on our loan reading it and we notice that we have an interest only loan and that if we pay early that we may have to pay a penalty. We just don't know what to do anymore with this loan I don't think their anything we can do.
I call EMC told them I wanted. We requested a complete "life of loan" payment history that includes a rundown of how all our payments have been applied from the inception of the loan to the present time, and which includes all of the charges that have been imposed whether paid or pending. We requested a payoff statement good through January 1. I spoke with Gloria Craig on DEC 11 at 315 PM. Her extension is 14880 from the Bankruptcy Department. She gave me a hard time and told me that I pay my bankruptcy lawyer good money and that he should ask for it. I told her I was going to have my loan audit then she agree to send me the information but as yet I have not received anything just my statement for Jan.
I am sure our Mortgage is one of the Mortgage EMC is suing MortgageIT for. This is the link call Bad loans draw bad blood My husband and I we feel that they prey on us because we were under duress that the bottom Dollar. I think with this lesson my husband and I have learn a lot about Mortgage fraud and about all the crooks out their trying to take your home away. Before all this happen we never knew this was happening it really a shame how they let them get away with this but like they say money talk's bullshit walks.
I though Loan-shark was legal in NY that it a criminal offense I want to know because Is EMC run by mafia is that why know one will touch them. Could someone answer that for me. I also want to know what is the credit score to get a fairly good loan I want to check what our score was at the time when we got the loan also how many days late do you have to be before they can report it to the credit bureau and cuare you late fee.
Lillian H
Campbell Hall, New York
U.S.A.
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