We too were victims of EMC. We dealt with them for years. Finally to save our home we filed a Chap 13, that didn't work, they still did not work with us. I hired (2) companies to work out a loan mod on it (that didn't work) bottom line from them, sell or foreclosure. We opted for the last.
Well, low and behold they sold our home at auction (we only owed $219,000, they sold it for $274,000). I understand JP Morgan Chase (who ownes EMC) purchased the house at the higher price. The reason, there are other foreclusres in our neighborhood and they wanted to bring the prices up. So here we go again, inflated the home values. Ours according to a realtor was only worth $119,000 at the max.
Lesson learned.
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