We have endured the same failure formula implemented by E.M.C. As many others here have with sub-prime mortgage market land sharks E.M.C. Mortgage.
The sub-prime mortgage market buyout by E.M.C. Foreclosure factory of our note from New Century Mortgage was the beginning of a nightmare for us, two years ago our payment sky rocked from $1,025.00 to $1,650.00 a month, no payment book, no monthly statement just waiting for payments to sit in a drop box until their formula of failure succeeds...
The critical difference in our situation is we received a letter of acceleration one month then followed a certified foreclosure from their attorneys the next month.
The foreclosure was filed and our names plastered in the Sunday Edition of our local newspaper. The Harassing automated calls and letters have resumed again also.
Our Bankruptcy attorney called them and they stated oops our mistake but you can bet the attorneys fees ect are on our note... And of course no retraction in the paper.
The strange thing about this is we are supposed to be protected from such an action because we have a stay in place, from filing Chapter 13 Bankruptcy. It has been in place for months preceding their action and continues at least until confirmation next week.
Where are our consumer rights?
Totally neglected by the 800 lb. Gorilla E.M.C. A subsidiary of Bear Stearns.
A request for a payoff amount and a detailed expender statement from E.M.C. Goes ignored, as the certified R.E.S.P.A. Letter a year ago did.
We honestly don't know where to go from here.
The Bankruptcy consists of 99% arrearage $33,000.00 for one years penalties and attorney fees, to E.M.C. Of coarse payments are sent back as usual until, as assuredly as they will at some point get the stay lifted and get a $225.000.00 3000 sq ft Log home on a beautiful hill overlooking our lake and twenty acres for a $112,000.00 dollar loan.
God help us all when dealing with such Goliaths..
They keep you totally in the dark until they devour all your equity and take your home.
0 comments