emc mortgage
eMC is a hip hop crew comprised of rappers Masta Ace, Wordsworth, Punchline and Stricklin.
Beachbumminblonde
asked:
"A sale date was just posted on my mom;s property and I need to get hold of legal dept to stop it...can someone please help me?...I already have the C/S number, but can't get past them..need asap...thanks"
Question posted courtesy of:
Landlord replied:
"I doubt they have a legal department, most of them simply hire attorneys.You will not be able to talk to anyone anyway, it is not legal to discuss your mothers account with anyone not actually on the account.Ask C/S if you can fax in a letter authorizing you to talk to them. You will not be able to talk to their attorney, as you are the opposing side of the action. Your attorney can correspond with them, but they can not deal with you directly, it is a conflict of interest for their client."
ragazzapazzesca518
asked:
"I had someone tell me that I should be able to make partial mortgage payments and send my mortgage company a "hardship" letter to keep them from foreclosing on my house while I have it on the market trying to sell. Does anyone know much about this process? BTW, my mortgage company is the horrendous EMC Mortgage Co. - it doesn't get much worse than them."
Question posted courtesy of:
catherine s replied:
"This is possible, depending upon the lender. Only EMC Mortgage, unfortunately can answer this question for you and start that process."
Spock (rhp) replied:
"call your lender and ask them"
Diane M replied:
"This would have to be something that you got your lender to agree to. it makes sense that the lender would be better off with something until the house can be sold and the loan would be paid off. They often lose money at a foreclosure so I would hope that they would be willing to work with you."
acermill replied:
"You can ASK if the lender will accept partial payments to help stave off foreclosure, but the lender is under no obligation to agree to your request. However, lenders are not thrilled with foreclosures, and they may well agree, IF they can ascertain that their losses will be lower by agreeing to your request. You can only try.Good luck."
livnforJC23 replied:
"I seriously doubt it. We were relocated out of state a year ago and 6 months ago it became hard to pay both a mortgage and rent, so we tried working with the mortgage company and it got us nowhere. Our house has been for sale for 16 months and when we finally got an offer the bank refused it. I strongly urge you to work with them, you never know what they will accept until you try.I am with Wells Fargo, the MOST horrible lending company in the business. Everytime we talk to someone about our situation they ask who we are with and when we tell them we hear..."I am so sorry."Good Luck. At least when you work with them you can be sure you are doing the right thing, even if they wont."
LifeSaver
asked:
"I tried to re-finance my 1st and 2nd mortgage with these two banks and was not successful due to owing more on my mortgages than my house is worth (& high credit card debt of about $25K). My spouse and I have student loans to pay for ($60K) and it is very depressing for us. What can we do to fix this financial and emotional problem. More details..we make over $200K per year but the bills and unexpected situations keep coming up. It is now affecting our marriage and we may be separating because of this financial tornado. we have two kids and a dog to care for also. It is tough but right now we are just maintaining to pay bills from pay check to pay check. How do we attack these issues without killing one another and becoming angry about it when we bring up the subject? Are there any highly seasoned real estate agents or financial gurus (anyone w.knowledge) to help us? Any internet or 800#'s? We need help REALLY bad!!"
Question posted courtesy of:
The Lemur v 1.02 replied:
"Hang in there and keep paying that bill."
Paul in San Diego replied:
"If you have some kind of hardship (loss of a job, must relocate for work, etc.), you may qualify for a short sale, where the bank takes less for the house than what you owe on it and forgives the debt. And "the house is worth less than what I owe on it" is not a hardship. The only other option is foreclosure, where you just walk away from making the payments. However, this is a harder hit on your credit history and the bank could come after other assets (liens on other real or personal property).I do keep hearing on the radio about some law or government program that went into effect that allows you to renegotiate credit card debt if you owe more than $10,000. You might look into something like that.In the mean time, you're in a situation that a whole lot of people have gotten into over the last few years, mortgaging themselves to the hilt to pay for their extravagant lifestyles. So, cut back on luxuries. Only buy what's essential. Eventually, you'll start making more money and the value of real estate will come back up. You'll then either be able to afford your current situation or will at least be able to bow out gracefully.And, just so you know - getting a divorce will not make any of the problems go away. In fact it will magnify them many times. So, don't even consider that as an option."
goz1111 replied:
"Unfortunately with negative equity and two separate notes, in your case not many options, if you can not get the first note to refinance both notes. See the first note will not refinance its note alone because then the second note become the first note in line after the refinance. Kind of leaves you in a catch 22.Best bet is two work it out and hang in there until the market approves, a separation / divorce will only ruin your credit and bring you down a road best not to travel"
acermill replied:
"You and your spouse made some VERY poor financial decisions along the way, and now they are coming back to haunt you. You apparently borrowed money against your house at a 100 percent LTV ratio, which was your first poor decision. Buying that expensive a house with over $85,000 in debt was another stupid move. Sad to say, you are going to have to live with the effects of those decisions.Your income level will prevent any consideration for 'hardship' whatsoever. If you insist on dumping the house, foreclosure is your only option. Think you have problems NOW ? Wait until you have a foreclosure on your credit report."
iceprincess06
asked:
"EMC Mortgage company by far is the worst place to have your home loan land in. they never post any payments in a timely manner. They have very rude customer service people. I have tried to get out and they tell everybody that they do not sell mortgages when in fact that they do."
Question posted courtesy of:
wizjp replied:
"refi. Find a lender and pay them off."
Bettee62 replied:
"YOU COULD REFINANCE BUT YOU WILL INCUR SOME EXPENSES. ALSO CHECK YOUR CURRENT MORTGAGE TO LEARN IF THERE IS A PRE-PAYMENT PENALTY"
acermill replied:
"You have a long term contract with this lender, whether you like them or not. There is no way to get out, other than to refinance with a different lender. This will, of course, cost you a few thousand dollars. Always bear in mind that mortgages are regularly sold on the market. Would you be happy if you spent a couple of thousand dollars to refinance, only to discover that, six months later, your mortgage was sold to EMC?From past experience, I can tell you that EMC is probably no worse nor no better in CS regard than any other lender. Most have problems with payments, postings, and other issues. Simply work with them to the best of your ability."
Groundbreaking 1999 Report that first defines the term "predatory servicing" and exposes the market and mortgage abuses of Bear Stearns, EMC Mortgage, Washington Mutual, Savings of America and how homes were targeted for foreclosure due to the frauds and abuses of mortgage originators.
An in-depth analysis of the EMC Mortgage company.
Bear Stearns EMC Mortgage Corp unit received notice from U.S. regulators Tuesday it may have broken the law regarding its servicing activities, Reuters reports.
The FTC is looking into the possibility that Bear Stearns Cos' EMC Mortgage Corp unit may have violated laws regarding its servicing activities.
In response to the catastrophic fires that have burned at least 1,300 homes and forced more than 500,000 residents to flee in Southern California, EMC Mortgage Corporation is implementing its emergency response and crisis management plan in support of its customers affected by the devastation.
