A Warning on Paying via Certified Check - EMC

[ciscokidinsf]

Hey all,

So, 3 weeks ago I was all happy to make the last (third) payment for the Modification Trial period. I made my first two payments with certified checks and sent them via first class mail. (I did this to have a solid paper trail) I made my third payment the same way...and the bad luck struck.

I started calling EMC every day last week, since the payment was due August 1st and cannot be late. It appears the check was lost in the mail. I called the bank and it has not been cashed by EMC.

So, I canceled the check, but because it is a certified check I will NOT get my funds until 90 DAYS.

I had to borrow money (close to $2,000) from my family to wire the money to EMC on Friday. Now I have to float this for the next 3 months. EMC claims they never received the mail, even after showing a xerox copy of the certified check, the asked me to send the payment.

To top it all off, the very nice person that called me back from the executive line a couple of times has been transferred, so now I am back to making calls the regular way.

I would advice you to either send your paper payments with delivery confirmation and make sure if you have to send money orders or certified checks that the delivery is tracked. At least for the first 3 payments.

I am extremely anxious now, and reading the recent denials makes me feel queasy. At least I heard in the radio this morning that supposedly Chase/EMC is the 'top' lender in modifications, with 20% of the requests 'approved' (which tells me they may be padding the number with the 90 day trials) but at least is something. At the very least, they did create two escrow accounts, taxes and HOA (HOA after a huuuuge argument that went to the executive office to be resolved)

[Chased around and around]

I would believe nothing that chase has to say. They have no clue what the right hand is saying to the left hand .

If you sent the checks certified, domestic return receipt then you will have a trail. I work with the USPS daily for the last 23 years and have never seen a certified lost. To tell you the truth, I have never had a first class piece lost either. But it is always better safe then sorry.

Also as you read through this forum you will see no one has had a mod done after their 3rd, 4th and some are now on their 5th payment. I feel it's nothing but a scam to get what they can out of you to prove you can afford the property, then offer you nothing in any way of a monthly reduction for the long run...

[ciscokidinsf]

Originally Posted by Chased around and around

I
If you sent the checks certified, domestic return receipt then you will have a trail.

No, what I did is put a certified check into a regular first-class envelope. The envelope was not certified or had any tracking. I know, this is the first time ever a payment gets lost in the mail. At least I am checking every few days to see if the check has been cashed.

However, because the check is certified, My bank (BoA) first has to wait 30 days (even after I requested a non-payment) and then 60 days more to return the funds in the event the check is never found and cashed.