I have a mortgage with EMC that was bought out by another company. They had carried my loan about 2 years when all of a sudden they decided that there was a balance for insurance escrow that was owed and that UC Lending had paid for and they had not collected money. Without a letter or anything they increased my monthly payment by about 40.00 a month for 1 year.
I spent relentless hours on the phone with various people and sent in numberous documention to them showing where I had no insurance escrow set up and that I purchased my own homeowner' insurance through a private company. It went over the year time perios trying to no avail to straighten this out but they won because I had to pay the money to keep my home. I also am paying a 11.5% interest rate when I originally bought the home it was 8% because I bought the interest rate down this means 4000.00 was added to the note and now they are scoring money from every angle.
This is a scam and they should not be allowed to get away with it. They also refuse to change the last name on my loan note and was married 4 years ago and they still have not changed it. This is poor customer service. I had sent in extra payments and instead of applying it to my account they let it stay in limbo and caused me to go over 2 months on my note and then called me and tried to repossess and I told them that I had sent in 2 extra payment and after hours of phone calls they told me that there was a credit but had not been applied to my account. This company is scamming and committing fraud and there seems to be nothing the poor consumers can do about it. Ain't this America?!!
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