Click here to view a copy of the Civil Complaint
EMC Mortgage Corporation filed a civil lawsuit in the United States District Court for the Eastern District of New York against the following defendants:
D&M Financial Corp.;
Dimitri Michelaki (alleged to be an officer, employee and director of D&M and the representative of D&M who executed the contract between the parties);
Regency Capital Funding (alleged to be the mortgage broker on the majority of the loans);
Lou Sandella (alleged to be branch manager of both D&M and Regency and acted as loan officer);
Andy Perdikos (complaint alleges that, upon information and belief, Perdikos is not a licensed appraiser in New York although he represents himself as such.)
The lawsuit arises out of EMC’s purchase of 42 loans originated by D&M. According to the Complaint, following its purchase of the loans, EMC discovered the following misrepresentations in the loans:
(i) vastly inflated appraisals, oftentimes done by an unlicensed appraiser; (ii) fake checks presented at closing to hide that the purchase price on the mortgaged properties was being misrepresented; (iii) inaccurate information about the borrower?s income and assets; (iv) material misstatements about the number of units at the mortgaged properties intended to hide that the properties in question were note, in fact, eligible for purchase by EMC, pursuant to the terms of the parties? purchase agreement; and (v) misrepresentations about the intent of respective purchasers to reside at the mortgaged premises . . .
The Complaint alleges that D&M refused to repurchase the loans and seeks damages of no less than $3,000,000 based on causes of action for Breach of Contract and Warranty (as to D&M only), Fraud, Negligent Misrepresentation and Negligence.
how are you?
I was an employee at D&M Financial corp for about 3 years i was a processor and i also worked as an investagator,i now live in brooklyn but went home to belleville last week and noticed the company was no longer there and i wondered what happend.well im not suprised about this artical the reason why i even looked up d&m online was because i wanted to know if they moved or if they were shut down.dimitri michelaki aka jimmy is the very reason why i quit,that man should be locked away for good, i have seen him rob honest working people and not care at all that their homes were all they had to show of there hard work.i feel really bad for andy and lou who were at one time good people i was there when lou worked for the belleville branch then he moved to ny with jeff pennington to start their own branch. andy im very surprised at he was very nice.iv said all this to say jimmy is a crook and his wife knows full and well whats up.the company is hers not jimmys i bet you didnt know that.
DEAR MS.DOLLAR,
I AM NOT SURE IF YOU CAN HELP OR IF YOU KNOW ANYTHING ABOUT THIS BUT,BECAUSE OF FALSE ALLEGATIONS AND THE THREAT OF FORECLOSURE ON MY HOUSE IN TEXAS IT HAS CAUSED ME FINANCIAL AND MENTAL STRESS THAT I FEEL WAS NOT NECESSARY FOR EMC MORTGAGE TO SUBJECT ME TO.
IF THERE IS ANY WAY THAT I CAN SOMEHOW LET OTHER PEOPLE KNOW HOW UNFAIR AND DISHONEST THEY ARE I WOULD APPRECIATE YOUR SUGGESTIONS.
IF YOU HAVE TIME TO CONTACT ME AND PROVIDE SOME INFORMATION CONCERNING MY CONCERNS PLEASE,LET ME KNOW.
THANK-YOU,
JAN GUM
my name is rosetta huffman i was in a mortage fraud, i still live in the house in question. i want to know can i buy my house back from emc? my number is 3135162347 .
Dear Ms. Dollar,
Love your informative website. Greta service.
At any rate, regarding Jan Gum’s posting below and her nightmare with EMC mortage…we are going through a similar situation with EMC – where Wells Fargo did a loan -re-mod fo rus and then subequently transferred our mortage to EMC,,,and now EMC is claiming not to know anything about the re-mod.; eventhough we have faxed them copies of it and, eventhough Wells Fargo claimed that they would proivde EMC copies as well. All we are expecting is for EMC to honor the terms and agreements – asw Wells Fargo wrote in their communication to us that nothing would change when the mortage goes to EMC. Please, please, provide us advise about our rights. I’m getting the feelign that this is a way of EMC doing business so that people wil foreclose and they can then re-sell the homes for a profit. Am I’m being paranoid here? Please advise. Thank you.
Hi
I just had a question. If my mortage loan was done has a FHA loan, and all the paper work shows as such… Can a mortage company change it to what type of loan they want it to be? Our mortage company changed our loan fron a FHA to a non-conventional, then to a convential loan. Now we are not sure what type of loan we have now. Is this legal?
Thank You,
Sincerely
Cindy
thank god there are honest people out there, i am struggling to keep my house but EMC is making it real hard. They keep remoding my mortgage and not accepting payments, i get foreclosure letters on a weekly bases, i really am in the process of a nervous break-down, please help me.
i work for emc in the collections and loss mitigation dept. for the person that said emc is not working with them and not accepting their pymts, i find that hard to believe. if we are refusing to accept your pymts, its b/c you are not willing to pay the minimum amount that emc wants you to. people have monthly pymts of $5k and are behind 3 months and are only willing to pay $1000 to get on a repayment plan. of course we will deny that. and emc does not threaten anyone with foreclosure. we just put the facts on the table. if you don’t pay your mortgage your home will go into foreclosure. simple as that. it’s a secured debt. what do you expect to happen? you expect emc to let you just live in the home for free?
To the “EMC” loss mitigation person denying EMC doesnt work with borrowers, it is a total crock. EMC is not the least bit interested in working something out. EMC has driven people out of their homes, and have hijacked the mortgage with falsified fees, inflating fees etc. Hundreds of people across the country have filed complaints with the FTC, FBI and others regarding EMC’s bad deeds. There are lawsuits pending across the country. WAKE UP everyone is on to your company. Most of your execs are under investigation and are going to jail. Your company is corrupt, morally bankrupt and your company is going down just like your parent company Bear Stearns.
sorry anon but you’re wrong. emc can’t drive anyone out of their home. if there mortgage is current, how can we take the home from them. emc is simply following the same procedures all serivcers do which is if the mortgage is not getting paid, then it goes into foreclosure. do yall not understand that!! why should emc let you live in a home they paid for for free?? and as far as the fees. if you’re talking about high interest rates, maybe the customers should’ve read their note and the rest of their closing documents before signing them and they wouldn’t be in this mess. why would you sign your life away without reading first. if you pay your mortgage late, you get accessed a late charge, if you bounce a check, you pay a returned check fee. when we have to put your home into foreclosure, we have to pay attorney fees. why should we be responsible for attorney fees because you can’t pay mortgage. emc is more than willing to put people on repayment plans, people just rather pay on unsecured credit cards and cable,internet, and cell phones than make sure their mortgage is taken care of. don’t blame emc for your wrongdoing!
EMC ruined us. They are liars and cheats. We are losing our home because they scammed us on a repayment plan. We paid them on time every month and completed the plan. They then said we never finished the payment plan and that we owed them another $5000 within 3 days. This is not an exaggeration. We were not ‘confused’…they screwed us.
I filed chapter 13 bankruptcy to prevent EMC from forclosing on my home. I completed my repayment plan and received a court discharge. Every dollar that I agreed to pay them they had received form the court. They coninued to mis-apply the payments and tacked on “inspection fees, Lawyer fees and late charges”. On their Oct. 1 ’08 statement, I was current on my account. then the phone calls came saying I was in foreclosure and was demanding payment. Nov.1 I recieved a notice claiming I owed them 1,507 dollars just to bring the account current plus this months payment. I am forced to take all the neccessary steps allowed by law to protect myself and my home. Emc seems to have no regard for the law and should be punished accordingly. How can they continue to try to extort money by fear and intimidation? I have filed complaints to the FTC and the credit bureous. I have disputed this claim with them and I am waiting for their reply.
My original loan was with Greentree. If I had read and understood the contract, I would never had taken the loan.
Emc, is owned by Bear Stearns who is now owned by JP Morgan Chase, engages in business practices contrary to any sibilance of fair and equitable good and sound business practices. They do engage in business practices that reek of incompetence, arrogance and a general believe that we as forced customers of EMC, my original loan was not with them, are compelled to do whatever they say we must do without regard for our rights as customers. The complaints I have read above resonate this theme. Anyone interested getting a clear and unbiased view of this fact need only go to the FTC’s website, complaint EMC settled for 28 million dollars; and read the articles posted on the NY Times, Bloomberg and sfgate websites to name a few. For the posts that defend EMC by making broad assumptions as to what the customer’s individual situation is and or simply stating things as factual without any proof of it being so. I say read the FTC’s settlement with EMC. The fact that EMC shelled out 28 million dollars speaks for itself. My experience: I called EMC before I missed a payment to let them know I was having difficulties and that I wanted to work something out in the short term to avoid any issues. EMC response was to tell me I needed to keep making the payment and at this time there is nothing we can do for you. What else could have reasonably done? Nothing. I tried to work with EMC and EMC blew me off. Soon after my first payment became delinquent I began receiving collection calls, 10-15 a day, demanding I make my payment. I tried three times to work with the customer service people to resolve this issue only to be treated as if this was a personal matter. I gave up trying to work with people who had no desire to work with me. EMC’s collections calls have been 10-15 a day for the past 6 months. Four months into my missed payments I called, again, on or about 9/17/2008, EMC and requested a balance as to what I owed to bring the loan current. I was told the amount was 4,662.34 plus lawyer fees. When I informed the customer service person I had not received any notice of foreclosure he informed me the law firm handling it had a backlog as if this made this legal and also stated the action was done a week prior to me calling and that EMC tried to call me repeatedly. (EMC could have notified me by voice mail, email and or their own website. I had a user ID and password to access my account. EMC did none of this. Of the several hundred calls to my phone that caused my voice mailbox to overflow on a daily basis not one time did they notify me of this; they also cancelled my on line access to my account thus denying me any opportunity to be notified of this fact or know what the balance was to bring the account current.) He also tells me the loan would not be reinstated without me paying lawyer’s fees but he could not tell me who the lawyer was, the fee amount or anything to support and prove a lawyer had done anything to justify getting paid by me as he put it likely 1,500-3000 based on my insistence to get an idea. He also informed me if I made the 4,662.34 payment, and did not do and sign a loan modification agreement prior to doing so my loan payment would be returned. It was. As I spoke to the customer service person I felt like I was dealing with a con man, a wheeler deal who would say anything. He tells me I could make a payment of 2,000-2,500 to stop the foreclosure proceedings. The problem with this I had the whole 4.662.34 due on the missed payments. Why would anyone want less money when the issue is not an issue of the paying party about the larger amount? He know my problem was with the unknown and questionable issue with the ‘’lawyer fees’’. That I made it clear to him I was not going to pay or agree to pay without proof. EMC never provide me any proof and has allowed the foreclosure process to continue. EMC wants people to pay for things based on them saying it is so and nothing else. EMC refused a payment of 4,662.34 because of a desire to get me to pay for a lawyer for services I have no knowledge of them performing on a home that is likely worth 60k less than what is owed to them. This begs the question of why is it EMC is so willing to foreclose on an asset worth much less than what the owner is willing to pay? I say the reason is do to all the fraudulent and criminal acts theses companies have engaged in it is quite possible my home has been sold through the process known as securitization several times over. Sliced up and sold to many other entities that it is likely they have already made their money off of it.See rest below
Rest from above post
Read the articles on how loans are bundled, known as securitization, and how this whole mess is tied together will give you good insight as to how lending institutions do business. I say fight for your rights by educating yourself. If they want your home make them prove ownership in court! If you live in a non- Judicial foreclose state, this is a state where the lender can bypass the court and sell your home. File a lawsuit and make the issue one for the courts, a Judicial foreclosure, where you get to defend yourself and raise issues. Most states if not all allow you to file your case, known as a pleading, without using a lawyer. The lender relies on the fact that if you are unable to pay your mortgage or need to defend yourself you will likely not fight do to the cost. They also rely on the fact that you will not know that you have the right to see proof that they are the legal owners of the property free and clear thus giving them the right to foreclose. Read the Articles!!! If your notice of foreclosure has who the current beneficiary is look for Bear Stearns, now owed by JP Morgan Chase. Chase recently announced that if you have an EMC mortgage that have decided to stop the foreclosures on these homes for up to 90 days. Call Chase, now!!!
Question::Why would EMC mortgage sue you for breach of contract??
I guess I meant how can EMC sue an individual? What grounds?
I have several loans with EMC. As I sit and read EVERYTHING that I can find about EMC, I can honestly say that I have gone through every situation that you have, only it concerns just one of our loans. EMC put an escrow on our NON ESCROWED loan at the first billing (we closed December 2006). I immediately got that taken care of (of course, it only took 3 different people to fax the info to EMC). Everything was going fine, however, I did inquire with EMC in October 2007 for re-fi or modification on our loans. That situation alone got soooo out of hand that I was working with 3 individuals in the executive office (I still have their numbers in my cell phone addresses). Anna, Crystal, & Barbara all of sudden were no longer at the executive offices. So, I had to start the whole situation over from the beginning. Then in February 2008, I received a statement from EMC showing, AGAIN, an escrow payment that they were charging us for. To make a long story short, more than once a month, I would call and try to get this situation straightened out, BUT, gee-whiz, no one at EMC knew exactly why OR how we were being charged, after all, they showed in their system where I did in fact fax proof of insurance coverage and paid property taxes to them, ON MORE THAN ONE OCCASSION. Of course, the EMC rep, “would look into this and call me back as soon as him/her find out what was going on with the account.” You guessed it, no one ever called me back, except for the 10-12 daily collections calls. Everytime I ‘thought’ I was making a mortgage payment, I had to explain to them that the escrow was put on our account by mistake and that nobody knows why or how. Well, since I was instructed by EMC reps to make the ‘usual’ mortgage payment and that payment was not quite as much as the escrow amount, our account was being charged a late fee, and our money was going ‘somewhere’. I just haven’t figured out where yet. Then in May 2008, my husband lost his job with no warning. We took a very very bad financial hit. The first thing I did was to call EMC to see if they would work with us or even deferr our payments for 3 months until he found another job. They instructed us that we had to call The HopeNow Foundation and then have a report sent to them and then they will re-work the loan. So we did. The ‘credit-counseler’ told us to NOT pay mortgage, credit cards, etc. Just ONLY pay necessities. I had him to verify this in writing. Then EMC called us a couple of weeks later and stated, “We’re sorry, but we can’t help you right now because your husband is unemployed. However, when he does go back to work, please feel free to call us and then we can work on your account.” Well, I kept making the mortgage payments. More than once a month when I would call to make the payments, I was mysteriously cut off after going thru the 20 minute verification that I am actually me. On December 19, 2008, an EMC Insurance Rep (from the Ohio office) finally figured out what caused this escrow. (and stated to me that it was something that happened with the title company and the insurance company – NOT US). We were served foreclosure papers on December 29, 2008 stating that we were 4 months behind on our payments (which we were not). The late fees just keep getting added on, and the lawyer fees, and the incidentals, etc. Of course Loss/Mitt wanted to make a deal: If we paid 2 months payments and signed an agreement, they would put a hold on the foreclosure. BUT, when we got that agreement, it was inflated AND stated that we had to make a balloon payment of over $5,000.00 when our arrears was paid in full (additional money to paid along with the mortgage) AND we would waive all rights to rebuttal with EMC for anything!!!!!!!!!!!!! Under my lawyer’s advisement, I paid the 2 months (Western Union payment) and didn’t send the agreement back. EMC sent my payment back to me. I have retained a lawyer and also filed a complaint with the FTC. I have experienced almost everything that others on here have, only all of the situations are rolled into one ball and we are being hit with that one ball. I really don’t think that there is much more that EMC can possibly do that I haven’t read about from others or experienced on this one loan. They have destroyed our credit (causing our homeowners insurance to go up over $500.00 more), caused our credit cards to be cut off, caused so much distress on myself and my husband. CONTINUED BELOW………
***** CONTINUED FROM ABOVE: I have had to leave work early to take care of situations with EMC, which could cause me to lose my job. I am so distraught that I shake all day, am very depressed, cry, feel like throwing up and I think I am getting an ulcer. HOW can EMC get by with this time and time again? I have contacted a lawyer that does class action law suits against EMC and hopefully, I can be on the next one. I have a large box of documents and notes of dealings with EMC. I have also been informed that the reps at EMC will give false names and ID#’s. Which probably explains the reason that their reps “can’t find any notes in their system that I have called previously?????” Please can someone give me any information that I could possibly obtain to help me fight this. We live simple lives (we drive a 1993 BIG van and 1999 Buick – not overly lavish!) and are honest people trying to raise our children with a good home and lots of love. That’s it, we just want to be able to enjoy our life with our family, not worry daily about EMC and end up sick due to the stress.
EMC needs to be shut down or at least be given a wake up call. When I recieved my notification and verification of debt, (which would have been impossible for an un-educated layman to understand) I immediately called EMC. I got transfered and put on hold numerous times until I was hung up on an hour and a half later, after explaining my situation each time to various individuals. I was feeling fustrated but I would not give up. I called back and immediaatly talked to someone who would help.
I felt as if they were testing my resolve because I heard alot more typing going on in the backgound that was warranted for the information I was giving them. I felt that they were trying to get me to just give up and go away unsatisfied and frustrated enough to just give them my house.
I still had not been told a specific dollar amount to pay them or was given a repayment plan. I had a dollar figure in mind to offer them but I made them give me one first. It was lower than what I planned to pay them. But they are satisfied with the plan and are accepting my payments. Mind you I make sure the payment is sent by certified mail and is send before the payment due date. EMC was hoping I was having a merry chistmas and had spend all my available cash, that I was broke and could not come up with the cash and they could foreclose.
Emc wants you to give up and just go away so they can foreclose and make a huge profit on your small loan.
I have not worked this hard to save my home to have it stolen from me.
Regretfully enough, they are acting within the bounds of that rediculous contract I should never have signed if I were educated enough at the time I took out this loan.
I am sure this saga is not over just yet.
HELLO I DON’T KNOW IF YOU CAN HELP ME OR NOT. I GOT THIS CHECK IN THE MAIL AND DON’T KNOW IF IT IS REAL. IT CAME FROM UNITED STSTES OF AMERICA FEDERAL TRADE COMMISSION,FTC V. EMC MORTAGE CORPORATION,et al.CLAIMS ADMINISTRATION center p.o.BOX 8060,SAN RAFAEL,CA 94912-8060. IS THERE ANY LAWSUIT? THE LETTER SAYS IF I DON’T CASH IT BY MARCH 23,2009 THAT AFTER THE CHECK COULD BOUNCE.
Hi, I also received the same check in the mail as above. I am wondering the same thing. I am not sure if it is safe to cash either. After reading all of this…. Could this be another one of their scams???? I never signed anything for a class action lawsuit. ??????
My home was destroyed by Island Home Designs Inc/Corp who in concert with D&M;Financial of Bellville New Jersey and American General Finance Branch located in Commack New York. Fraudulently advertised as procurers of FHA TITLE -1 HOME IMPROVEMENT LOANS with a generous renewable $25,000 dollar revolving line of credit. They monitor the county records for newly signed home closings. D&M;Financial converted what was suppose to be a rough proposal work
contract to be approved by FHA into a $25,000 mortgage on my home. The papers were negotiated on the same day and forwarded to American General Finance who didn’t file the mortgage for 3 years. AGF knew I was fighting this fraudulent mortgage and AGF knew D&M;was not license to conduct mortgage banking.
D&M;although not license in September of 1999 to conduct mortgage banking submitted frudulent and altered documents to the county and obtained a mortgage on my home. No town permits were filed, I never saw a FHA inspector. The entire operation was consumer and mortage banking fraud. American General Finance filed a lis pendens and summary judgment for forclose and sale. The Supreme Court denied the motion and the holder in do cause status filed by AGF who claims they bought a valid mortgage from D&M;Financial. I’ve spent $23,000 fighting AGF. I was informed by an attorney… there is an ative class action suit to recover losses.
D&M;and American General Finance and their officers are the worst kind of predetors. Through deception and fraud, they steal the only assets every day working people have, their homes. There needs to be a nationwide alert board and these companies names should be sent to congress for investigation on how high-up this consumer and banking fraud goes. I understand the Giant AIG is in partnership with AMERICAN GENERAL FINANCE Who was a business partner with D&M;Financial. Check out American General Finance Website for info. AGF did $25,000,000 yes, twenty five billion
dollars in 2005. I wonder how many people lost their homes from the home improvement scam?
Hello Rachel Dollar,
EMC is my servicer transfer from Chase bank. I have an attorney representing me but he along with myself is having a very differcult time trying to get the original documents of my loan. The loan has been sold 4 times now EMC being the 4th. Rachel Dollar any suggestion on how I can retrieve my orignal loan documents?
Thank you
Hello-
I have a question. I have a mortgage with Citimortgage. My sons father is responsible for paying our mortgage. He paid the mortgage twice on the last day of the month (our grace only goes until the 15th) and paid the applicable late fees. He bounced two checks and then paid the payment again. For example, the January payment was paid 1/30. The payment was returned on 2/13 and he repaid it on 2/24. I told him that this constitutes a 30 day late payment on my credit report. He is adamant that it is not because the payment was made on 1/30, even though the funds were not collected. I have a great credit rating and I do not want to jeopardize it because of his recklessness. Please tell me if I am correct. Thank you.
What are our elected officials doing to help the thousands of homeowners who want to fight back against companies like American General Finance? Are they too afraid to go after companies with deep pockets? Are they gun shy after the fall of NYS ATTY. GENERAL, Elliot SPITZER who fought the big bad boys and they set him up and took him out. (He enabled them on an unrelated issue. Sad he was a racket buster.) Working class people can’t volley with these big companies in court at the cost of $175-300 an hour, they have lawyers on staff and retainers 24/7. When a company like AIG / American General Finance/ Morequity etc. names are on a daily list of consumer complaints regarding mortgage – banking, home repair and personal and Gov. bail out loans, why won’t our elected officials enact a law mandating all financial contracts issued by theses parasites be re-examined like the courts do to judges and law enforcement personnel who are indicted for judicial misconduct, evidence or case tamporing? There is a well accepted rule of common law, False in one, at the least, suspect in all.
When a company like the defunk D&M;, and American General Finance are found guilty for altering documents and disengenuous oral and written affirmations, that lead to consumers losing their homes or paying thousands of dollars for services not rendered at loan shark rates, because they can’t afford quality legal representation, elected officials have to step in.
It is so disheartening to hear the consumer affairs dept. response, If your case is in litigation we can’t interfere. So what happens when the consumer runs out of money after countless adjournments and the leagl stall tactics the giant companies use to beat the little guy down?
ALL OF US who have fell victim to companies like AMERICAN GENERAL FINANCE,
Morequity and all the rest, need to start a class action petition and confront our Elected Officials and demand they take our cases to the Well of the Congress for investigation and propose a temporary injunction on all liens and forclosures relating to American General Finance and all lenders engaged in the practice of Fraudulent Mortgages and straw mortgagor lending practices.
I had no idea so many people had problems with EMC. I have communication issues with them since my mortgage was transferred from WR Starkey. In October I began calling and requesting some kind of help in the way of reduced payments, lower interest, loan modification. In December, a customer service representative told me I could not qualify for a loan modification unless I was 30 days default. I duly complied and submitted my application only to find out this was not the case at all.
I have sent letters, I have called and get no where. I’ve been abused over the phone.
Now I am 4 months delinquent and I’m afraid to send them any money because they say they do not accept “partial payments”. They kept sending payment requests for which the amount continually increased. Lately I have heard nothing.
They frighten me simply because they are inconsistent, uninformed and unpredictable. I have filed a Chapter 7 to stop any impending foreclosure that may or may not be their plan.
I want to keep my home – but I do not want to fight with big bears.
AMERICAN GENERAL FINANCE CORP – D&M;FINANCIAL and ISLAND HOME REMODELING of Levittown, NY. Formally ISLAND HOME DESIGNS INC./CORP. that the net is slowly closing around American General Finance involvment with defunct D&M;financial corp. and the criminal home improvement contractors. American General Finance position is, “They were just innocent purchers of a note and disavows any knowledge of D&M;Financial Corp. CRIMINAL ACTIVITY. AGF would like us to believe they bought a note without first investigating who their buying the note from. Now AGF is trying to sue me the victimized home owner for $25,000 for destructive and unfinished work performed INEXPERIENCE, exploited and undocumented day workers. The workers lack of experience resulted in the destruction of my home inside and out
AGF latest position may well be the dagger that will pierce their corrupt legal protective membrane and expose them for what they are.
The TINMEN who started the scam in this case have been caught up with. It will be interesting to see how AGF and the contractors can defend them selves with out incriminating each other. AGF believes all adversary attorneys can be bought. Soon AGF will make an offer to the wrong Officer of the Court. Remember, D&M;was the middle man in this scam. D&M;Executives and a subsidiary of AGF were taken down with TOTO by the NYS Atty. General and prosecuted by the US Attorney. Where do the circle of thieves who prey on the elderly, poor, uneducated and trusting home owners go from here? Engaged attorneys have already distanced themselves from this ten year old case that began with a fraudulently advertised FHA Title-1 Home Improvement scam. They went as far as using the U.S. Postal service to solicit their victims.
do you have any info on emc mortgage corp buying green tree assets or accounts or any of their holdings in 2003 or anytime?
No. Sandra I have limited info on EMC. All I know is EMC tried to hold D&M;Financial to their contractural agreement that D&M;Notes were good.
Can an attorney continue with a foreclosure proceeding after the mortgage has been re-instated by the mortage company and mortgage is current in status with no late payments? Is that lawful?
It is just like an EMC employee to be so smug and arrogant. Like so many of you my loan was transfered within 3 months by another theif Freemont. We had a problem with a payment. I immediately called trying to workout the situation. I was appalled at the horrible treatment I recieved. They would not take any money if it was not in full. Now I was in a situation that I could not pay any payments for subsequent months. I was told it would be returned. I called continuely. After a few months. I recieved a Default notice. Again I called, By this time about 5 months. They said I owed close to 20,000 dollars in back payments, fees, and lawyer fees. Like other postings. I was in astounded. I asked for an accounting, which was never forthcoming. I finally talked to about 4-5 Reps. that told me in order to do a loan mod I would have to put a down payment on the account. They started at six thousand. Days before a foreclousure I Got the to agree to 2000 dollars down. To make a long story short this was two years ago. I have been on three mod programs, yet never modified. The latest one, after the 3 months trial, I called yet again although I called once a month to stay ” proactive”. They at first said just make the same payment we have a backlog. It will take a little longer. I called in a few weeks again, after not hearing from them as promised. I then was told I was missing documents. I sent every document and the earlier people I spoke to said it was all in order. They want to keep me in default I have done everythin asked of me. I can’t believe it is now yrs. I put my life savings down on this house. I am stressed to the max. sometimes I feel like sitting down and sobbing. But instead I will fight them tooth and nail.
Looking for an attorney to file legal-action against Emc mortgage
In response to cases involving American General Finance shady operations and how quick they are to file for summary judgments and foreclosures, you first need to hire an consumer advocate attorney to stop American General Finance from taking your property.
In the interim, you should write a strong letter with all the facts pertaing to your case to your STATE ATTORNEY GENERAL. There are countless consumers who fell victim to AGF shady practices aimed at equity stripping of the consummer’s homes. Advise your friends, don’t sign anything that involves your home as security, with out first having your lawyer review the documents. It may cost you a few dollars to retain a lawyer, but it may cost you your house if you don’t. whether it is a money loan or home improvement financing. And for God’s sake, never engage in a first mortgage whith AGF. Their home base is in the state of Indiana. Call the Indiana dept. of consumer affairs. AGF has a long record of settling cases against them, out of court. AND KEEP IN MIND, THAT’S JUST IN THE STATE OF INDIANA.
AGF is a nation wide corporation. But, they are not licensed to conduct mortgage banking in many of the states they conduct business in. In my case, AGF played it safe and testified, they purchased a note and disavowed knowledge of any criminal act perpetrated by the original fraudulent note holder, D&M;Financial Corp and ISLAND HOME DESIGNS CORP.
Log onto AMERICAN GENERAL FINANCE PREDATORY LENDING LOAN FRAUD. You will see a laundry list of complaints against AGF.
EMC did NOT follow the foreclosure laws of the state of California. We had a mortgage with EMC and fell behind on our mortgage. I contacted EMC’s Loss Mitigation’s Depart. and worked out a repayment agreement with them in July of 08. The oral agreement that I made with them was that we would like three pays to them large then the amount of our original payment on the 20th of each month and then “if the three payments were made on time that they would modify our loan for us. I made the first payment to them that same day which was the 20th of July. The next month I was contacted by EMC with them telling me that I had missed my payment due August 1st. I proceeded to tell them that I had made a repayment agreement with them and had made the first repayment to them on the 20th of July and that the next on wasn’t due until the 20th of August. They told me that they didn’t have a record of the agreement. I told them who I had made the agreement with and they told me that I would have to start it all over again as it was never put into their system. The repayment agreement was then started again for Aug. 20th of 08. I made all of my payments on time and notice on each of the statement that were sent to me that EMC was charging me late fees on each payment along with bounce check fees when I had not written them a check or bounced any check with them. EMC would not resolve this issue. After the third payment I contacted EMC to modify my loan and they refused to even take any documents to start a modification. I tried for several months to get them to modify my loan continuing to make the large repayment payments to them. In Sept. of 09 EMC started foreclosure proceedings against me and through the whole process would not talk to me about any ways to work around the foreclosure. In Oct. of 09 I finally paid a loan modification company to work with EMC for me. (Big mistake) The attorney for the loan mod company told us to not have contact with EMC as they would handle everything. (I am not a lawyer and you usually follow the lawyers advise, BIG MISTAKE AGAIN) In Dec of 09 EMC filed a notice of sale in the papers but none was posted on the property and they also stated that they had made every effort to work with us on a mod or saving our home which is a complete LIE. The sale was scheculed for Jan 6th of 2010. They postponed the sale and then sold our home to B of A on Feb. 4th of 2010. We didn’t get any note of the sale, of anyone purchasing our home and didn’t know that it had happened until we got served a unlawful detainer. B of A LIED and said that they had given a three day and that they had posted our home which they did neither one. Can anyone help to stop what they have done?
To all of the victim’s who fell prey to the consumer rip of tactics of these companies like American General Finance Corp. EMC and companies like D&M;Financial who lost their license as a result of their criminal activities, you have to unite and go PUBLIC on these thieves. Flood your Attorney Generals office with your detailed complaints, some cases can go directly to your Distric Attorney’s White Collar Crime Unit. When you expand your complaints on this board and to the media CNN, MSNBC, CBS, ABC, FOX, NBC. You expose these criminals financial enterprises to hundreds of thousands of viewers and listeners.
And the warning goes out..CONSUMER BEWARE of these companies and others like them, some operate below the radar. These companies can and do change their corporative names and operate under subsidiaries but the consumer is stuck with the damage long after these corporations move on in search of new victims.
Times are hard and too many consumer credit scores plummeted, tighten your belt and do without. There are major banks, Gov. Backed programs and a laundrey list of approved state counseling agencies to guide you. But the last thing you want to do is, deal with finance companies. Their bottom lines makes the PAWN BROOKER look like MOTHER TERESA.
looking to join class action law suit against EMC predatory lending. …
need to know how to join
To darren d.
I can’t help you with filing or joining a class action case against EMC. My case involves American General Finance Corp. D&M;Financial Corp. And the TinMen ISLAND HOME DESIGNS CORP/INC who fraudulently advertised their business as procurers of FHA Title-1 Home improvement loans.
In order to save time,I suggest you contact your lawyer. There is a ton of cases on file involving EMC. You have to enter the name EMC and search your state’s court records and your districts Federal records. You already have a good start by the number of consumer complaints filed on this web blog and other sites that complaints against EMC are posted. Gather the info. have your lawyer assess the facts and you decide if you want the state Attorney General to look into your complaint or a private attorney. My preference would be the OAG.
Just remember, our effort to informed others has forced these predators to change the way they do business. One day soon, the’ll solicite A US ATTORNEY’S STINGMAN.
need a real estate attorney to file a lawsuit against emc mortgage for fraud
We have experienced just about every situation and
complaint listed below on the blog with EMC.
It has been a nightmare working with them.
We were approved for a modification and sent 2
payments already and now they say we are in foreclosure. When we call the # they provide we are
told we need to talk to someone else and they will
give that person the message to call us but they won’t call us back! We have been trying to work with them for 2 years and were relieved that the mod finally went through. We thought this nightmare was over, guess we were wrong.
Stressed and frustrated, don’t know what to do!
Your spinning your wheels and wasting valuable time waiting on EMC. They want your property. Loan Modification fraud is rampant from coast to coast. Hold on to your copies of the payments you sent EMC and always pay with US postal Money Orders. Certified – Return Receipt. There is a Federal taskforce investigating loan modification scams. I would contact the State Attorney General and the Department of Consumer Protection and let them advise you. Go to the ‘DOJ’ The US Department of Justice web site and get an update on the number of attorneys, mortgage bankers etc. that were arrested and found guilty of crimes envolving mortgages and mortgage loan modification scams.
Good Luck
I receieved a blue or green notice on my door. 1753 Selma St,Westland, MI. Everything on my house is upto date! I’m current on all things relating to my howse, Do you have some charge or fee We’ not aware of again? If so, what’s our status and what is needed to get on track? Corey and Lisa Chamberlain
(734) 334-7018
First collect all your past mortgage receipts and conformation your payments were received.
Check to see if your mortgage was sold to a buyer. Is the notice left on your door from your mortgage company? Maybe, your mortgage company sold your deed and pocketed the money. If someone is threatening to forclose, contact your District Attorney.
Note: I am not an attorney. I am a home owner who fell prey to an elaberate fraudulent FHA-Title-1 Equity Stripping and money laundering scam. You can read the details above.
a mortgage broker and a title company attempted to register my property under a company name instead of my name. They also ran my sons credit on the same loan. Currently, i found out that my sons credit has been ruin and i had to file for a chapter 11 to protect the property in questioned. what kind of legal action can i take agaist these people? Also, what can i do to counster and sue these people?
DM Financial of Orland Park, IL screwed my husband and I on our re-finance in Dec 2010. First we had to pay to extend our loan rate, due to paper work not getting processed on time. Then, we go to the closing and the closing costs are $2000 more than we were informed they’d be. At that point I consulted with a friend’s lender who discovered in less than 5 minutes over the phone that we had a Fannie Mae loan and therefore did NOT need to put the $17,000 we were told, down to avoid PMI. Guess what, it was too late! We had to part with our entire nest egg because S didn’t do his job from the beginning. This was an extremely frustrating process that lasted 2 very stressful months and costed us a great deal financially.