EMC Mortgage Corp bought our mortgage from Mila Inc 2 years ago. At first my loan was an interest only fixed rate then after two years it switched to a variable rate and the payments went from $860-$1190 a month. My husband and I began to struggle and eventually in December of 07 we became behind on our payment.
We were two weeks behind and EMC began calling. They told my husband they were going to start fore closer proceedings unless we paid them $ so we paid the amount and then about two weeks later they started calling again. This time they said we would have to pay another $1500 or they would start to foreclose. So we scrounged up every penny we had and paid them another $1500.
Two days before our next payment was due we received a notice of forcloser saying that our home would be put up for sale at public auction on Feb 14th. I contacted EMC's attorney to see what the redemption amount was and they said they would send me a letter which I received about two weeks later. The letter said that our redemption amount was over $9000!
The letter broked down the amount which included the supposed $5000 some odd dollars we were behind on our mortgage? So in despair my husband and I started discussing bankruptcy and other options. Well the house did not sell at the Feb. Auction so EMC started sending us statements again. Then they began calling again and the routine cycled.
Then we received another letter from their attorney saying that the house would go back to public auction on May 24th. So I contacted a company that specializes in short sales. They filed all the paperwork, Emc sent out an IOP (which is like an appraiser) and then we waited.
The house still did not sell at public auction. My redemption period is up on July 24th and we still have not heard one word from EMC. The company that is representing my interest had not been able to reach the person assigned to my case once. Nor has he returned any of her phone calls. They apparently refuse to comply with any of the FTC mandated business practices?
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