Cautious in MA wrote:

"Our mortgage was also sold to EMC back in April. I have been very concerned after following this forum, but I have had no problems at all. I immediately set up my account to pay online and always paid on the first of the month. No problems whatsoever. Last month our mortgage was sold again, so we are not dealing with EMC anymore. Hopefully the end of our worries...."


Dear Cautious in MA:
If you were with EMC for even a brief period without problems I can assure you that you are one of two things:

1) One of the extremely lucky ones picked to be an intentionally faked example of “good service” by EMC.

2) An EMC / Bear Stearns *plant*

EMC (owned by Bear) is essentially out of business facing a historic amount of litigation and massive criminal investigations. Judgments against EMC / Bear will be well into the billions. EMC is already defunct and will drag down Bear Stearns mortgage unit early next year primarily but not entirely due to criminal fraud.


A Mr Ed Tip:

Just because your mortgage firm goes out of business do not expect that your problems are over. You can’t be sure the sun will rise tomorrow but this much is certain: A defunct mortgage operation can and still will collect both legit and even most of their fraudulent notes.  Believe it.

                  Please answer this:
          Who did EMC sell your note to?

Ed Cage