EMC and Chase- who controls my loan? - Loan Modification Forum

Do not want to lose it · 08-24-2009, 05:04 PM

EMC is still in control of my loan. Chase has no record of it. What am I missing here?
I thought Chase took over EMC?

donnac · 08-28-2009, 07:48 AM

Your investor of the loan. My mortgage is with EMC when I rec'd my forclosure papers it had Bank Of America which really confused me. I called EMC and they told me BOM is the investor on the loan. Hope that Helps

Lainy09 · 08-28-2009, 10:34 AM

I agree with Donnac...ultimately it's the investor. On my foreclosure paperwork it indicated Wells Fargo was the investor, unless they typed in Wells by mistake, who the heck knows? Originally it was thru Bear Stearns and sold..My repayment docs just say EMC...it's all about as clear as mud, huh?

NohelpfromEMC · 08-28-2009, 10:43 AM

Not really sure... Everytime I ask I get a different answer. One time I was told MLABS, then the next time I was told Blackrock.

Do not want to lose it · 08-28-2009, 12:06 PM

Thanks for the replies!
When I called EMC for a repayment plan back in March the customer service guy I reached at the MOD squad # -(Jeff in Calif.) told me it was a Fannie Mae loan. He was very nice.
When 3 months of those payments were finished on Aug. 1, I called to see what they wanted me to do next. I still get an EMC statement.
I am self employed and have some rental income. This is a 2-family.
They went over my financials and I gave them figures after learning A LOT from this website. When I first tried for a MOD back in March they denied me. This time they said it looked like I was qualified for the gov. program. They upped my payment $575. from the previous 3 month repayment payments and said they would send the paperwork out. That was Monday.
This time it was a woman in Calif. and she was not so nice.
My next payment of $1775. is due Sept.15 That is more than 50% of my monthly income.
I am in Ma. Prices have gone up a bit lately.I am afraid they will try and trick me and take the house where the value is about the same as what I owe and might be going up.

NohelpfromEMC · 08-28-2009, 12:20 PM

I am in Ma also.

Noticed that according to Zillow prices have gone up recently but are still way off the peak. Not sure how reliable Zillow and Cyberhomes are for accurate values.

08-24-2009, 05:04 PM	#1 (permalink)
Do not want to lose it Senior Member Join Date: Aug 2009 Location: Americas Hometown Posts: 66 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	EMC and Chase- who controls my loan? EMC is still in control of my loan. Chase has no record of it. What am I missing here? I thought Chase took over EMC?

08-28-2009, 07:48 AM	#2 (permalink)
donnac Senior Member Join Date: Mar 2009 Posts: 44 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: EMC and Chase- who controls my loan? Your investor of the loan. My mortgage is with EMC when I rec'd my forclosure papers it had Bank Of America which really confused me. I called EMC and they told me BOM is the investor on the loan. Hope that Helps

08-28-2009, 10:34 AM	#3 (permalink)
Lainy09 Senior Member Join Date: Jan 2009 Posts: 118 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: EMC and Chase- who controls my loan? I agree with Donnac...ultimately it's the investor. On my foreclosure paperwork it indicated Wells Fargo was the investor, unless they typed in Wells by mistake, who the heck knows? Originally it was thru Bear Stearns and sold..My repayment docs just say EMC...it's all about as clear as mud, huh?

08-28-2009, 10:43 AM	#4 (permalink)
NohelpfromEMC Senior Member Join Date: Jun 2009 Posts: 40 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: EMC and Chase- who controls my loan? Not really sure... Everytime I ask I get a different answer. One time I was told MLABS, then the next time I was told Blackrock.

08-28-2009, 12:06 PM	#5 (permalink)
Do not want to lose it Senior Member Join Date: Aug 2009 Location: Americas Hometown Posts: 66 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: EMC and Chase- who controls my loan? Thanks for the replies! When I called EMC for a repayment plan back in March the customer service guy I reached at the MOD squad # -(Jeff in Calif.) told me it was a Fannie Mae loan. He was very nice. When 3 months of those payments were finished on Aug. 1, I called to see what they wanted me to do next. I still get an EMC statement. I am self employed and have some rental income. This is a 2-family. They went over my financials and I gave them figures after learning A LOT from this website. When I first tried for a MOD back in March they denied me. This time they said it looked like I was qualified for the gov. program. They upped my payment $575. from the previous 3 month repayment payments and said they would send the paperwork out. That was Monday. This time it was a woman in Calif. and she was not so nice. My next payment of $1775. is due Sept.15 That is more than 50% of my monthly income. I am in Ma. Prices have gone up a bit lately.I am afraid they will try and trick me and take the house where the value is about the same as what I owe and might be going up.

08-28-2009, 12:20 PM	#6 (permalink)
NohelpfromEMC Senior Member Join Date: Jun 2009 Posts: 40 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: EMC and Chase- who controls my loan? I am in Ma also. Noticed that according to Zillow prices have gone up recently but are still way off the peak. Not sure how reliable Zillow and Cyberhomes are for accurate values.

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