My loan that I previsouly had with Citi_Residential was acquired/tranferred by/to MGC Mortgage Inc. back on July 3rd, 2008. I immediately received a notice from Citi-Residential, but never heard so much as a word from
MGC Mortgage for over a month. We made numerious attempts to get in touch with them through their "Customer Service Dept." (which by the way is actually a recording followed by voicemail) to no avail. I honestly feel this dept. is designed specifically this way, as they have absolutely no way of dealing with this magnitude of irate loan customers, and their has to be thousands of you out there that are in the same boat.
After numerious attempts to get in contact with them anyway that is humanly possible, customer service numbers, fax numbers, emails, and even hand written letters to both their fax number, as well as their physical address, we finally received a letter in the first week of August.
The letter stated that they are in the process of setting up our loan, and to bear with them as they had recently acquired a tremendous amount of loans, and as a result are backed up (Basically justifying their RESPA violation). Also included with their letter was supposedly our new "loan number" along with instructions for sending payment. We immediately sent payment simply by afixing the new loan number to our check, and haven't heard anything else since. We have checked with our bank, and they haven't even cashed the check yet. No statements, no further letters, nothing. What gives?
This worries me a tremendous deal. Once again after numerous attempts to get in touch with them over the past few weeks, I finally received a live person via option #1. The person I spoke with had tried to call up the loan number that was provided to me in the letter, but apparently my loan still hasn't been updated into their systems (even as of August 20th) nor have they any record as to whether or not they have received our payment or not, etc. She assured me that they are were in the process of getting done and not to worry as we have a 60 day grace period for dealing with this. I told her that I don't find any comfort in that, as that 60 day period is actually about ready to expire when you do the math work (July 3rd thru- Sept. 3rd). What happens when this goes beyond this time period? Will we suffer false reportings to our credit report? will we be bombarded with demand letters once everything finnally does update? Will we receive any late fees, loan status changes? etc.
She assured me that none of that was going to happen, that she understood, and that I needed to be patient. She also offered to transfer me to the customer service dept. to see if they could pull anything else up, and in an attempt to do so, I recieved the dreaded voicemail. How nice of her.....
Personally, I am concerned for the well being of my loan, my credit payment history, as well as my home, at this point. Someone needs to do something before people start losing their homes as a result of this. I have never been late on a payment, and don't plan it as a result of a technicality. Nor do I want my home in jeopardy as a result of it either.
Even when or if this loan gets set up finally, they don't even accept payment via their patheic website or over the phone??? I have never dealt with a mortgage company that couldn't accept payments at least over the phone. This is very concerning!!! And extremly shaddy!!!
Email me or reply if you are in the same boat or feel the same.
We need to come together and protect ourselves...
I have ran everything through the attorney that deals with this
bulleton board system, and I am in the process of getting in touch
with the Texas Attorney Generals Office, as well as the BBB for Plano, TX.
I AM NOT FOOLING AROUND WITH THIS COMPANY ANYMORE!!!