Hi,
I just wanted to help maybe anyone here looking up EMC mortgage and the nightmare they are.
From the moment they "AQUIRE" your mortgage note it will be behind. If you are smart enough to look them up at this point and find these articles REFINANCE NOW!
They will pretend they are waiting for funds and start you off behind in your paymnets. This is the beggining of the end for you and your hard earned cash.
Then out of desperation you'll take money from wherever you have it saved to enter into forbearance agreements you can't possibly hold up for the entire time. They take your financial info for just this purpose.
After numerous times of not being able to keep up, they will keep trying to enter into these agreements until you have drained all of your savings, 401Ks. DON'T DO THIS! Do whatever you can to get out as soon as you can. The funds will not be applied to the mortgage. They will eat ALL of this cash with interest. Fees they make up and anything else they can think of.
In dealing with them, you must copy everything in writing to the law enforcement agencies, FBI, OTS FTC, and local and Federal Attorney generals. Tell your local news, anyone who will listen, then you also CC everything to whomever you can get a hold of at bear Sterns they are the parent company and they will care about your noise. The little person you speak to on the phone does not care about you or bear sterns' image so you don't even waist energy or time with them.
Keep plugging - NEVER EVER give up. If you have to go to bankruptcy, then go to save your home. At least EMC won't get it and you'll have proof you're sending payments on time. Meanwile go everywhere you can to get our of their mortgage. There are agencies who will help. If HUD backed your loan, they've made it illegal to foreclose if you're willing to work with them. Learn all you can this is your best tool.
I wish you all luck - it's horrible. We even have our family not understanding how all of this happened like its our fault somehow, asking why we used this company to begin with. We had no choice they bought the loan. I think this should be illeagal.
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