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There Are 24 Responses So Far. »

1. Comment by shaun mclane on 16 April 2007:

   Great concept, although it sounds a bit gimmicky. It’s a shame we didn’t have something like this in 2004 to stop people from buying 4 houses on all interest only loans with $0 down - oh yeah, and all somehow primary residence.

2. Comment by shanzida younus on 18 April 2007:

   i do not know what to do, i can’t play my mortgage any more. please i need help to lower my payment asap.my adds 43252 harper manor ct, ahsburn,va.21048.phone 703-723-9249.

3. Comment by Wiley Bunn on 9 May 2007:

   I’m in need of help also. I called the so called “Mod Squad” after waiting 30 mins on line, and they told me that they are only servicing home owners with an adjustable rate mortgages that’s adjusting 2007. Otherwise, your on your own. I could’nt get them to work with me, which really sucks.
   Im trying to decide whether to just give my home up. My mortgage has really taken a toll on myself and my family. The sad part is that I love my home, but I’m facing a steel wall.
   Wiley Bunn - Buckeye AZ

4. Comment by greg on 18 May 2007:

   I was served foreclosure papers last week. I called EMC and they reinstated my loan which is a great break for my family and I but I was in foreclosure before because I wasn’t able to afford the hefty payment of $1,700 a month for a $140,000 dollar house now they raised the amount to $2,300 a month and now we have to give up our home. Working in rural PA earning $16.00 an hour I am unable to pay this large amount. We started out at $1,200 and Indy Mac sold our Mortgage to EMC and they tell us we have an adjustable loan and our payment is consideribly higher. I know EMC would rather people stay in their homes I get that, but what I dont get is the fact that EMC doesnt see who can afford what. We probably should have never got the loan in the first place with INDY Mac and thats where EMC needs to investigate. They need to investigate if loan to income is valid because I know that It couldn’t have been. I could make the mortgage payment if my family could live on crackers and water, we didn’t need electric or heat, and if I was able to walk to work. It was affordable somewhat in the beginning, now I cant do it, not even with me working two jobs.

5. Comment by Us on 13 June 2007:

   The mod squad is a damn joke! They won’t help you if you have an interest only loan! They just keep upping the interest! Well, that means we’re forced to foreclose…what idiots! It makes me sick that they can get away with being such scum! I hope they lose a ton! Jerks!

6. Comment by LadyV on 19 September 2007:

   This company is not attempting to work with their customers. They buy out loans without customers knowing until they receive the letter informing them of the fact. I’ve tried for 2 years to work with them, have been stonewalled, mislead, misinformed, and lied to. I sent proof 7 times that I made all my payments, and they still refuse to acknowledge the facts in front of them. With the mortgage industry crashing, one would think they would value their customers and work with them.
   If I could get away from them, I would.

7. Comment by jose on 7 October 2007:

   EMC mortgage is not willing to help anyboby.
   I have asked for help with the sub-prime hell of a mortgage I have of 8.5% with a 5% prepayment penalty. My house is currently for sale and have already tried to refinancing - however, my score has plumetted due to this loan.
   At this point, I am considering two aptions, short sale or foreclosure. The value of my South florida home is degcreasing monthly, I am almost upside down. I have lost all hope and am feeling almost careless at this point. the “mob squat” is a big joke, like florida politicians with the property tax and insuranse rates. but, driving your citizen into forecloure is a lose lose situation for everybody. May we all sink together!

8. Comment by misowi on 31 October 2007:

   EMC sucks…They have no consideration for their customers

9. Comment by BRANDY on 1 November 2007:

   The MOD SQUAD is a joke, my husband broke his back and contacted EMC to let them know we lost his income and would need to go over our mortgage and work something out BEFORE the first payment was late. We were told they could not help us untill we we 3 months behind. I kept calling and kept getting same answer. In the end they nearly forclosed but the MOD SQUAD saved us by allowing us to pay interest only for 6 months. Our payments went from 1035.33 to 882.73 a month (we barely make it) We are supposed to go back over it and make that payment perm but that is no guarentee. To be honest it is only paying the interest too and we do not want that. They took over our mortgage and refinanced it for $9000. over which brought our payment from $700. to that 1035.73 huge jump when the originally were supposed to give us $40,000. instead of the $9000. They strung us along 3 months told us not to pay our mortgage before they dropped the bomb about the $9000.. and we were forced to sign the paper or foreclose on our home. My husband was out of work with a broken back, we had no choice then we had an even higher payment. We used the $9000. just to make it through the first couple of payments and live off of while he was not walking. We wanna get out of their mortgage but they screwed our credit..

10. Comment by Family Girl on 6 December 2007:

    They would not help me either….Basically I asked about a partial Hud claim since it was a FHA loan and that acted like they had never heard of that. I called a Hud Counselor and they thought that was ridiculous!

11. Comment by Teresa D'Onofrio on 24 January 2008:

    Is anyone working on my file the property address is 975 Murrieta Blvd Livermore, Calif.? It has been several months and payment has gone up alot. I do not want this property to foreclose I have called everyday and can not get any answers. I thought they were trying to do a modification but does it take 3 months? Please if there is anyone at all that works there and cares . Please call me I hope noone else it having to go through this???? I hope someone will read this email.
    Thank you,
    Teresa D’Onofrio
    925 980-7195

12. Comment by Sandy E on 20 February 2008:

    Teresa, I first called EMC on December 18th about a loan modification on my loan and I finally was contacted about the loan mod. yesterday, February 19th, so it took them around 2 months on my loan. Maybe they will contact you soon.

13. Comment by Sandy E on 20 February 2008:

    Teresa, I also just read that they are trying to modify around 2000 loans each month, That’s an awful lot of loans. Just know that you are probably not the only one waiting. I worried myself sick, but they actually came up with a plan much better than I asked for. The lady I worked with was an incredibly nice person. I will hope for the same for you.

14. Comment by melissa on 22 February 2008:

    EMC is the worst mortgage company, they lost all my speedpay payments and accussed me of not paying
    and wont help even though I sent myproof of payment
    mean people, no sense

15. Comment by Keoni on 2 March 2008:

    EMC Mod Squad? What a joke. I first contacted Mod Squad 10/07 about the ARM increase going into effect in 1/08 and how it was just too much to afford (at the time I was current for 2 yrs). I let them know that as of 12/07 that this payment will be last I will make unless I can modify the loan. The property was not worth what I bought it for and the only way to refi was to bring 45k to closing (if I had that I wouldn’t be asking for a modification). Was told by rep. Andrine the Hardship packet will be mailed to me and should get it in 2-3 business days. Just follow the information and fax completed paperwork to her. After NOT recieving letter and phone calls to EMC Mod Squad 3x’s a week until 01/08 about NOT getting letter, their response was “I show letter was sent. All I can do is re-send letter.” I fineally got letter 02/16/08. FOUR MONTHS AFTER FIRST CONTACT WITH MOD SQUAD!! Needless to say I am in Foreclosure and the only contact from EMC is their COLLECTIONS DEPARTMENT 16-18 TIMES A DAY!

16. Comment by Denise Salazar on 27 March 2008:

    EMC Mortgage does not give a crap about any of there customers financial situation, I have not even hit the 120 day mark for file of NOD per CA law, but yet EMC is trying to get me to sign a foberance agreement that says that I will pay them attorneys fees of $2500. I contacted the Company in December regarding a Loan Modification, I was told, that I should not make payments until I was approved or denied.Well i had not heard anything decided to call on January 27,2008 and spoke with a nice gentleman by the name of James Brook that told us we had been denied, but he would make payment arrangments with us and that in 6 months we would qualify for loan modification, he told he me would call us back, never heard from him. We called and left messages with several customer service for him to call us back, never heard from him. On March 10th called and spoke with a Sabrina Williams and she offered a same payment arrangement with us, but wanted us to give 2000.00 western un ion and a agreement signed and faxed to her, when i read paperwork that she faxed to me I notice there was more fees that were not spoken about before, when I called her to find what it was, she said that they are entitled to those fees, I disagreed , she then started telling me that i should allow these fees, make me lose my home, and also told me that she makes more money than me and my husband put togther……. All these peole work on a commision and want to suck as much money out of you as they can, they try to make you feel as if they are helping you when they are just putting you more in DEBT… they are sharks. If you are trying to get a loan modification or doing forebarance agreement, GO over the #’s first before you allow these theifs take your money.

17. Comment by Lynne on 30 May 2008:

    I have been making huge payments on my EMC Mortgage! My husband was diagnosed with cancer in Nov and was out of work for 3 months. During this time we lost his income. EMC would not help us until we were so far in the hole that we had to set up a work-out plan for the next twelve months. We are required to pay an extra $320 per month on our mortgage. It has been a nightmare and on top of that we have to pay via Western Union, which is more money out of our pocket. I am really afraid when our modification plan ends what will happen. Will the payment go back to our original? MMMM……I wonder! If we could we would refi but being late on your mortgage des nothing for your credit score. This company does not care about their clients and I hope one day they all have the same issues we have and are treated as poorly as we have been!

18. Comment by sheila on 17 June 2008:

    since my loan changed hands 4 or 5 times and ended up with EMC there have been 4 or 5 mistakes…i am not behind but a few days but they still have a 7 year old mistake dogging me they inherited from indymac who has it corrected finally after years of me suppplying all their proof of their mistakes and collected extra fees and then refunded them with no explanation, charged a year of insurance i held private insurance; physically i am so seriously depressed and been in intolerable situation where they leave garbly messages on filling up my answering service which forces me to have no phone due to also their phonecalls using up all my minutes. i might not be making sense at this point because i am so fearful of their next mistake i cant even think about it without crying and wonder how to get them to help me without them taking more advantage of me. Im alone and 55 disabled and have lived on my property 18 plus years and have been paying on this loan 10 plus years. its so lonely and sad to not know if there’s help for me.

19. Comment by M. Gray on 30 June 2008:

    Hi,

    For those who have had a successful loan modification with EMC Mortgage did they put anything negative on your credit report?

    Thanks

20. Comment by Charles on 1 July 2008:

    The largest problem I’ve come across with their ‘loan modification’ program is the absolute inept way they handle phone calls. You can’t call your representative directly, you have to call, have the phone rep send an email and wait for a call back. God forbid you’re busy when they do finally call back. In the end it’s a business, run poorly like a business, with little or no real thought towards ‘helping’ the customers. It’ll be a miracle if I ever get things set up properly.

21. Comment by Roy on 24 July 2008:

    I have great luck helping people get modifications resolved with EMC. It is a pain if you are dealing with someone lower on the rung but we have direct numbers to people who can get things resolved. As much as it may not seem like it no mortgage company wants to own homes.

22. Comment by Angie on 4 November 2008:

    I did a modification with EMC last May and thought everything was going okay, still high but a little more manageable.
    What they failed to let us know is that due to the modification we would now have a balance owed, past due and on our credit report.
    I am looking through all of my paperwork and nowhere does it state that I would end up with a balance of $18,000 which is past due and has now affected our credit. If this isn’t deception I don’t know what is. Is this how they help people. I’m not trying to get out of my financial responsibilities, but this is ridiculous.
    I would like to know who can I report this to and what can I legally do against this company

23. Comment by Krista on 11 November 2008:

    Ok… I just found out that there is a suite against EMC because of their practices. The 20 to 30 phone calls a day, the extra fees, the bad credit reports. The Complaint has been ordered, filed and now we just have to wait and see what happens to all of us. Also Bears and Stearn who was the backer of EMC filed bankruptcy and is no longer in business. Google EMC and see what you can find…. very very interesting. They are supposed to redress our loans, make them current and fix out credit if I am reading the infomation correctly.

24. Comment by JoAnn Wilbur on 12 November 2008:

    The fact that a recipient of an “extreme home makeover” should have to sell their new home because of the owners not having enough money for the upkeep (in spite of $60,000 dollars given to them for same), is extremely upsetting to me! When the home was first built, was it a home that would provide the necessities (without over building)? Yes, the home built was so beautiful BUT not which the inhabitants could afford. Could the city or town (State) step in and re-evaluate this home. Are there any people out there that could sit down with the owners and see where their financial burden lies?

    I watch the Show every week, and I’m flabbergasted at the size of the rooms and the extravagant decorations that are shown. My idea for the future would be to build homes that the future recipients can ‘afford’.
    I am sure, even with my own unprofessional capability, the inhabitants would be overwhelm end and happy, but at the same time within their means of living there.

    Of all the shows that I watch, the feeling I get watching the folks be surprised makes me have ‘goose-pimples’. I just love the whole crew. I would just love to put my arms around them and give them a sincere, giant hug! Keep on with this most awesome and heartwarming show.

    JoAnn Wilbur

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