Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Hey Nye,Digger,Mindy need some advise we are going to move back into our house soon it looks real nice after the fire. I guess some good did come of it we lost alot of our history but, we are moving forward and taking care of things we can control... Got a call from Philly lawyer he said EMC wants to settle and we are going into what I call round 2 with EMC you never know!!
As you all said EMC knows that we had a fire... They did not get any money from the insurance company because according to my insurance company it,the fire was cosmetic and they did not have anything to do with the EMC. so they could not get their dirty claws into any more of our money.EMC wants access to our house for appraisal. I wanted to get my own appraisal done but, Philly lawyer said they would not accept it they had to have their own people do it!!! Can you see the writhing on the wall?? well the house is like a new one and they said we owe them $125,000.00 on a 67,000.00 loan that we paid on for 10 years. can they use an appraisal that increased the value from a fire ?? we have pictures before the fire can they be used?? what would be the best way to determine what we owe them,I personally think it should not be on the house but on the original loan... If the house is valued at 200,000.00 should the loan be based on that ?? this is a house we build in 1978 for 12,000.00 including carpet furnace , and major appliances... Please give me any input.....
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I don't think this should be discussed here, as it could be used against you later, I think off line discussions would be better.

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Joe B

     A current appraisal should have nothing to do with what you "owe" EMC. I am not familiar with your entire story, but I would NOT let EMC into your home!! (not enough exclamation points to put here).

     I assume you took out a loan for a certain amount, and they hosed you. I assume there are fees they want to collect, and it sounds like a fire made a mess while you were in the middle of all of this. They want to settle, which may be good.

     I would suggest an amortization schedule showing original amount of loan, monthly payments for 10 years, to get the current amount owed. I would then add in any fees that are legitimate, and compute the 'new' payment schedule based on the 20 years left. Forget the appraisal... the current value of the house is immaterial.

     Here's my analogy... I like analogies, because they sometimes make it easier to understand.

     If I have a 2007 Mercedes that I bought for $75,000.00. My monthly payment, after my down payment is $540.00 for the next 68 months (because I already made 4 payments). I wreck the car fairly badly, and it requires extensive repairs, which I have done. I also had the repair shop put in some super lcd tv's for the kids, making the car even better. My insurance made it look pretty much like new, and I am happy. Well, my monthly payment to the bank doesn't go up or down based on the 'new' value of the car after the wreck. I simply go on paying according to the plan. In 68 more months of paying $540.00, I will own the car free and clear.

     In your scenario, you just need to add in whatever fees you agree to, and then put together a new payment my opinion! 

     I hope I helped.

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Joe that is what I thought too I am grateful for your advise I have been fighting EMC for 4 years and my history is on this site look under malibu I am grateful for all the help that I have found on this forum you all have been good to me. helped me throught some of my darkest hours....Thanks alot

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Really Glad to hear you are moving back, That's Great!
Good Luck!
We have some good news too. WE finely got a wheel chair ramp built on to the Two bedroom mobile home that we moved to our farm.
It will be Great!
Shed 4 SALE!

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I am so glad for you me2.  I hope things get better for you.  I have alot of things developing at this time.

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Thanks SRSD, I hope things are going ok for you. I know you have been having a hard time with them this month, I have kept you guys in my thoughs.
May Good Luck be with you and all of us.
Welcome Home Mailbu  
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malibu they are trying to see how much equity you now have in your home. That way they will know if is to their benefit to manufacture a foreclosure on your home.

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Hey me2.....I am not having a bad time at all.  I have something I am going to e-mail you and you will see is all really good.

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hey ,Tried they already did that and they sold our home too!! But with the Luck and the help of a good lawyer I am still here!! I talked to someone that works for  a mortgage company a friend of mine and she told me to let them do their own appraisal and make sure that they pay for it ....Does anyone know the status of EMC ???? I heard a rumor that they sold off all their loans and closed their doors ......

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Good luck I have EMC too

I don't think so.Smurf
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