MGC Mortgage

I'm in. MGC Mortgage is unwilling to modifiy my loan or negotiate with 3rd party organizations such as NACA. call me at [protected] . If I don't pick-up right away, please leave a message. Ken

Donna & Linda,

Hello, my name is Tim R. I am in your same type situation but with a few major twists. I have been trying to contact a lawyer to deal with my case but most of them here in Hawaii seem reluctant to deal with this issue. As far as I can tell "they, " (MGC Mortgage) are in the wrong. I will be visiting my local Judge Advocate General's office early next week and I will be finding out what rights we do or do not have. Additionally I will continue to find a lawyer that will take up my case (and any additional cases that arise). If you wish to be kept up to date as to what is going on, please contact me at tjrudnitzki@hotmail.com.

Thank you for your time,

Tim

My coment ABOVE IS WHAT HAPPENED TO ME AND i HOPE THAT SOMETHING CAN BE DONE ABOUT THIS COMPANY.

I am a victim of this loan companies procedures.
I have left multiple messages with the suppervisor. She never called me back. The bank is holding escrow money for no reason. I pay my own insurance and taxes. I cannot get any answers. I was told I have to keep paying into the escrow account. The agent I spoke with said that they will review my account and let me know if I will get a refund. But, that takes 2-3 weeks just for the review. I told them I want to talk to someone about that and they keep giving me the same voice mail of Michele Foster that NEVER answers or calls back. I am totally fustrated. Also I want to start paying the loan twice a month to help witht he high interest rate. The agent told me they do not offer that service. This bank is shady and I am afraid.

Mgc /LNV I have Fraudulent transaction’s / Fraudulent transfers / Forgery / Fraudulent notary stamps / Counterfeit overstated amounts.proven by an Audited ExpertWitness … please contact me the Exit realtor located in Appleton ,Wi is not allowing us to recover our personal property and heirlooms of my elderly parents of 87 years old they locked us out of our own personal stuff and will call the cops if we go there ? Title Theft and Personal property theft ! You need to contact me asap! I need a phone number to file a complaint . Only allowing ppl that do not own the stuff to take care t …my parents stuff is being stolen .

I have had horrible problems getting in contact with this company. My loan transferred to them on July 1, 2017. I received a statement for someone else's account in August. My payments did not begin to post to my account until September and then only July and August posted. This was after having a collection representative contact me and me explain my frustration to him. Prior to this I had left multiple messages for them and it wasn't until I would threaten an attorney that I would receive a phone call back. I paid every payment through my online banking and they were able to confirm payment for me; however, my bank could never get anyone to respond to their request to help resolve the matter.

i keep getting sold back and forth, first homecomings and then mgc. they asked for proof of ins. i didnt know i was sold yet again, they told me they were going to charge me$ 4.4500. for home owners ins.i pay 1.000 now, for a year,

they have not sent me any billing statements since september. their service is very bad i have called many time and when i call i just get a answering machine or a representative that seems very lost and does not know anything. i have been sending payments and i do not know if they have been recieved and i am scared to go in to forclosure.

They can't get anything right. You call them, you fax them, you pay your payments on time via the computer and they have no clue what is going on. They send you late payment notices when your money has already come out of your checking account. They can't understand that your mortgage is variable and the rate went down. It is a nightmare. We have a file pages and pages thick. We have a short time left and it is ***. Not fair. I sure hope that someone out there shuts them down and moves our mortgage to a real company.

According to my records, my loan is almost paid off. After not getting a statement for may, I sent a payment anyway. On the day my payment was due, I received a new statement-complete with a different acct number and address. So I am wondering where my payment went. I still have not received a statement for june payment. Their website is useless. Since I live on guam it's difficult to phone them with the time difference. What now?

MGC Mortgage is a land swindler. I have paid 200K in the last 7.5 years on my home. I pay my own taxes every year myself which are to date.
They wish to foreclose for the second time.
The first time, I hired an attorney and he filed a complaint in federal court and issued a restraining order to the people to stay away from the property. Now the federal suit has been dismissed with prejudice.
MGC now indicates one month after this "stay period" of 17 months, that I owe nearly $300, 000.00, which exceeds the value of the property. Yet they will not send me any itemization of those fees when requested.
My loan is interest only until 2030, variable interest rate, interest fixed at a range of not going below 9.75 and not exceeding 16. I was hanging in, but slow, when the interest rate reached 14.25
Now my children and I are losing our home. Thanks a lot MGC, you have been the best. You are the investor, and always have been, even when GMAC was the servicer.
I cannot seem to make these people understand that I qualify for a loan modification.
They wanted my money and when I could no longer pay the big money, as my salary decreased when the economy tanked, they get the house and I have been paying rent so to speak (nothing is applied on principal...all is on interest) for the last 8 years. Gosh that rent was over 3000.00 per month.
What? I feel like this is a nightmare.

It took a wife and a year and half to find a buyer for our home. (paying double mortgages). I called them in Oct . of 08 to say we have to short sale. A loss mitigation specialist called and agreed they would take less. We came up with an amount of $120k. only a loss of 7k to my loss of 50k. trying to get their money back to them. The Realtor found a buyer with the loan 100% approved. in 2 weeks. It has been over 2 months. Since that time, they fired their employee that was handeling our account and the process is starting over, maybe, and the house in the mean time, went to forclosure. We have someone with a check in hand and no response or reply's for 2 months. We are about to loose the buyer. This is a short sale that they agreed to make after we gave them all of their requested forms and paperwork. and nothing is happening. Now I have a forclosure on my record, got to keep the house heated, maintained and it sits empty. They are not to be trusted even if I were to send them money. Any ideas?

I would like to know how this company is forcing my parents to buy insurance on an address that does NOT exist. About 16 years ago my parents bought a mobile home and some property in Blount County... At the time they bought insurance on the mobile home, the Insurance company made a typo on the address... When my mother called to correct it she was told that it did not matter, that her mobile home was covered... now some 16 years later, you have contacted my parents and told them that they had to buy coverage on an address that DOES NOT EXIST or you will buy the coverage and charge them some $1100.00 . I know that just about everyone has computer access and can google the address and it will clearly state that the address can not be found... Mother has sent you copeis of the 911 address where the mobile home was placed when they bought it, and where it still remains. So where do you justify telling them that they don't have coverage? You need to understand that the mistake was on the Insurance Company's part, My parents have insurance and have had it since the day they bought the mobile home... Our Lawyer is very interested in this case. You CANNOT force someone to pay for insurance on SOMETHING THAT DOES NOT EXIST... Get the facts. I REALLY LOOK FORWARD TO HEARING FROM YOU.

I am also in the same position, MGC Mortgage Inc. does not provide us with a monthly billing to show the current balance owed, ignoring a previous written and verbal request to do so. I know that they are receiving the loan payments because the checks have been cashed. It is very frustrating! MGC Mortgage is quick to send delinquent notices stating that a late charge has been assessed.

Tamuning, Guam

Really? IF YOU DONT PAY EVERY MONTH THEY CAN AND WILL FORECLOSE. You signed a contract. In that contract you agreed to pay EVERY MONTH. If you do not they will take you house and land. It also says all the fees they can and will charge you. It doesnt matter if those are more then the house is worth. Youi agreed to it when you signed the closing papers. No mortgage company will say "you are not making payments BUT since you have paid X in the past we will not charge you fees or foreclose on you". They also will not say "we know your house is only worth X so if you default we promise to not charge you more fees then you can handle". You signed up for a horrible mortgage willingly to by more house then you could honestly afford. File BK and get rid of the house and be done with this mess.

MCG...bought out my loan from bank of america in 2008...and never sent me a statement for my payments for one year...then sent me a statement for 3, 800.00.my monthly was only 216.00they never sent me a letter that they were in ownership of my loan from BOA...Now they want to foreclose our home...[censor]...
my name is clay wai from guam

To all please file a complaint with your state/local Commissioner of Financial Regulations over banking institutions! They are helping me and advised that the more complaints the stronger we are! Please! This company is the worst! Please if there are any Md. residents, I am urging you to file.

MGC mortgage sucks. they are not professional. I have all of the complaints as all of the above.

I agree that MGC Mortgage shouldn't be in business. We have been trying to do a modification on are loan since November 2008. We talk to a different person every time we call, and always get a different answer to are question every time. First don't send any money, then send what you can, then send a certified check in the full of your monthly payment. Then we get a letter saying its in foreclosure. Then they say its still in review. Why is this company still in business?

Brenda,

Wondering how you made out with this?

There are several cases getting ready to come together against this company,
and may news stations are starting to pick up on what is happening.

Myself including hundreds or thousands of others like us have also
experienced nothing but heachaches dealing with this company what
seems to be over a span of one year now. Myself personally since July '08

Still do this day I have not received a single statement and we are into
November now...They took over my mortgage in July!

Make sure to write them a letter demanding them to review your account,
and make sure the letter is sent certified mail.

Do you have an attorney that you can talk to? I would suggest
that you bounce this off him, pertaining to precisely how you
should word the letter further making sure that it's a qualified letter
so to speak. I am eager to hear from you.

Thanks

Let me know - we'll sign on to the law suit!

I have been dealing with this for 6 months now, and am on the same page.

Countless people have reached out to me, with nothing but disturbing experiences, worries,
and hardship concerning this ordeal.

Back towards the late summer. I made the smartest decision of all and that was hiring an
attorney to oversee all of this. I needed to feel protected in some way shape or form, as I couldn't
seem to get the comfort I needed in dealing with the the mortgage company directly. With endless
phone calls to no avail, countless letters, emails, and faxes, that were never returned. I needed to
make a decision to protect my family and my home.

Since then we have been able to dig up a tremendous amount of information on this company.
Back in November, we were ready to officially file a suit against them, but then decided to hold
off until the first of year. Reason being, is the company appears to be bouncing around and
opening offices in many other various states. Well they call it branching out, while I call it
bouncing around. My attorney seems views it as creating confusion, etc.

Never the less, we will be officially moving forward with our action against them after the first
of the new year. Now I have taken note of each and every one of your posts, and will be in contact with
with those of you that appeared interested, but if there is anyone else additionally that is experiencing the
sames issues that you have read here on these forums that would like to participate. Please
post your story here and get in touch with me via the send a message button above.

We can't let them treat us in this manner. It's unjust!

Set aside from all this...
After almost (6) Months, I finally received a statement from MGC.
Regardless of the fact, the statement is a mess.

First, There is a missing payment?, un-applied funds?
About $300 Late Fees? (Which we have never missed a payment)
and further-more it appears that they have rolled all of our future
taxes into our loan. Taxes that aren't even due yet nor have been
paid by them. An amount that substantually increases our monthly
payment by hundreds of dollars, and it's very disturbing. Fortunately
I am in a position to be able to afford the increase, but I am beside myelf,
and can't imagine what it would be like for someone that couldn't afford
an overnight increase like this. Perhaps someone that is on a fixed income,
or only makes enough to be able to afford their previous monthly payment.
Maybe a family that is struggling due to a job loss, and unfortunate
death, or simply a decrease in pay due to the economy.

This is extremely outragious! And has to stop!
I will be looking forward to hearing from you all, we need to come together on
this or people are going to start losing their homes due to these deceptive business
practices.

-Michael D.

Please help me! verizon and afnicollections, are trying to say i o them money 1, 074.93 and that i had lived in Rochester ny i have never even been there the address they gave me, go to a safe house. and this person is using my name and all my information. What do i do . please help me... i been living at this address for over 12years.

Well my loan just got transfered to MGC in October and they have not posted my payments yet. I have received numerous past due notices and have faxed them several times copies of the checks they cashed, as well as spoken with several customer services reps even a supervisor, the collections etc. and I have been getting the run around for almost 2 months now. They say whatever they can to get you off the phone and still nothing has been done..I have excellent credit and I am just waiting for them to report any past due/late payments to the credit bureau. They need not to be in business if they cant handle the loans they are taking on etc. It is very frustrating and ridiculous to put clients in these type of situation thats honest and doing everthing to pay their bills, and on time. I am giving them to the end of this week to fix my account. I am going to the news, attorney general, etc .whatever this takes this company does not need to be in business..

I also have problems with MGC Mortgage. My account is set up on an ACH. Since I am disabled and receive disability they were requested 4 times to take my payment out on the 3rd of each month as that's when my Social Security is deposited in my account and the idoits working there can't get it right, they either try to get it on the 1st causing me to get a overdraft fee or they wait until they can charge me a late fee. In July they took it on the 7th, charged me a late fee and didn't credit me with the payment and this month it's already the 10th and they still haven't taken the payment. I was able to reach them by phone and they say they are working on the problem but I have my doubts. I feel that the government should do a full investigation into just what these people are doing.

I am just getting started with MGC and I am frustrated already. I was in the process of completing a modification with B of A when my loan was transferred to MGC. I was informed by B of A that I would have to begin the modification process all over again with MGC. When I called MGC I was informed that they do not do permanent modifications. I am baffled. How can you be a mortgage company in this economy and not complete modifcations. I have yet to receive my welcome package and dreading the future with them after reading the other complaints. This is the first time I am hoping my loan get transferred.

I am a widow living in Texas, and I'm going to also complain about MGC, Mtg. Co. I also wish I knew what was going on with them...and, my loan! I was halfway shocked to find all these complaints, but when I thought about it, not so surprised after what I've dealt with regarding MGC Mtg.

I have never received a welcome package or anything at all regarding my loan with MGC, Mtg. When my loan was sold originally in 2008, I received some weird statements in the mail, so I promptly called MGC, Mtg. I too had a problem getting in touch with anyone by phone. I left numerous voice mails, and my calls were NEVER returned. When I finally did talk to someone, that 'someone' apologized and agreed that the information mailed to me was incorrect, and I was asked to 'bear with us'.

The information on my loan transfer originally came from an address in Plano, TX after I had sent a payment for that month..November, 2008. When December 1st rolled around and my November check had not yet cleared my bank, I called MGC, Mtg. After several attempts, I finally was able to talk to someone in the Plano office who told me at first that 'he' didn't know anything about my loan. At my insistence to know something, I was put on hold and after some time, he returned to the line and told me that I should call Sudbury, MA, that my loan was now in that office due to the overload in the Plano office. They gave me a number to call. I called the number and was actually able to talk to someone. Unfortunately that someone didn't know anything about my loan either, saying it was probably still in transfer. I was so frustrated! Even though I was hesitant to do so, I went ahead and mailed my December payment. It didn't clear my bank til close to the end of December! And, it's been that way to this day. One HUGE problem...my November payment is still out there somewhere! I sent my April mortgage payment which did finally clear my bank a couple of days ago.

When MGC Mtg received my loan, it was in good standing with my previous mortgage company who drafted my bank account on the First day of every month as long as they had my loan. I feel it was a huge mistake to send my loan to MGC, Mtg who has managed to mangle it! When my mortgage payment checks are sent to MGC, Mtg, they do not clear my bank for up to two weeks or more. I will say, however, that they did finally pay my property taxes for which I am thankful.

I discovered recently that my Home Owners Insurance has not been paid. This after I not only called, but sent documentation in plenty of time, from my Insurance Company, along with a letter from me as to what needed, what was to be done and whom to contact at my insurance agency.. I talked to the folks at my insurance agency just this morning, and as of this date, nothing has been done by MGC, Mtg! No documentaion, no call and no payment to my insurance carrier regarding my Home Owners Insurance. Now I have 3 days to pay my Home Owners Insurance policy or it will be cancelled! This is another hurdle to climb. I need to consider getting my loan processed somewhere else!

Well, They just cashed two checks. I'm still going to pay the property taxes on my own and try to get a refund from them them this century!

Good luck every one

This company is the pits they are returning our calls they have not sent a welcome package I am unable to get anyone on the phone other than a voicemail and no one returns your calls our loan was tranferred to this place I will not use the word company on Sept 1 2008 we nothing they have not paid our insurance we are getting laspe notices they have not paid our taxes what kind of place is this? Should we be reporting them to the State's General or what?

Thank You for your posts Kim and Jackie. It is slightly encouraging to hear that they are now starting to cash a few checks. I had to pay my property taxes yesterday because MGC didn't pay them from my escrow account. I hope it woln't take 6 months to be reimbursed. Sine my last post I filed an FTC report from www.ftc.gov and I also filed a RESPA complaint with the RESPA HUD DEPT.[protected] The lady's name there is GERI HANSON and she will tell you exactly how to draft a specific legal letter called a QUALIFIED WRITTEN REQUEST in which MGC must reply to in 20 days or government action is taken. What a big pain in the butt this is!
RYAN

I marked my attitude towards complaints as "agree". When I looked back here I found it was changed to"neutral". That is not right either.
Jacki

I have all the same problems as all of you. When the system is to transfer you to speak to a rep you are immediately disconnected.
I have sent e-mails and mailer-demon says cannot deliver to loan servicing, etc.
I had three payments that were showing I was delinquent which I was not. My checks (from my agent/manager) had not been cashed.
With some miraculous help yesterday a rep did say that three payments have posted as paid now. Today I tried to call to get that in writing, i.e. by e-mail a current statement, totally unable to get to a rep.
I too felt I was in jeapordy of losing my home or showing delinquent to the credit agencies. I'm not sure I am out of the woods yet.
Jacki

I have the same trouble i sent a check on 7/31 it was just cashed last week. I'm afraid to send in payments when the first payment just got cashed, I get the same story we are tied up you will not get any fees. I have only gotten a letter which was sent much over the 15 day time limit and no bills as of yet. I am also afraid for my home. I am calling them on Monday and we'll see how it goes. They should put some of the payments to the back of the loan and start fresh due to their mistakes.