Miesha Ddh

Went from missing payments to foreclosure

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We have been going in circles with MGC. I had been trying since November to clear up three missing payments. Since the end of November I haven't been able to speak the 'right department'. The last lady I spoke with seemed to try to help she ask if we wanted a loss midigation packet I said no I thought we would have the problem solved. Then December came with 3 bills that were over a thousand each. My husbands company was bought out and I was to have major surgery. Since the new company caused us to meet a new deductible. I rembered what the lady said about the loss midigation. I called the second week in December requesting a packet we just needed a short term. After that day when I called it was you have the wrong department or you will need to call back later. I decided to email all the info. Still no response so I wrote review in January. We got a message from a mgc rep saying to call them wth a case number. I thought great we could resolve this before surgery. I called and emailed the number. It didn't seem to make a difference. So last week my sister called to ask me if I knew our house had a foreclosure date. I said no and this time I am bed ridden for at least 6 more weeks. The only place I can go is the doctors office. I'm not sure what happened to our notifications. I feel like mgc doesn't care about what is going on with their customers.
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Reason of review:
Problems with payment
2 comments
Guest

I guess it was resolved they foreclosed. We were blind sided with no advance warning.

I guess the bright side is we don't have to fight with them again. My advice don't get mixed up with MGC or LLP or any other of their many companies.

Tiffeny Ojm
reply icon Replying to comment of Guest-1456690

Fraud is fraud and has no statute of limitation according to the law.302414****

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Anonymous

Can't refinanced to this company

I am working with another company to refinance to get out of a 9% rate down to 4. This has been going on since December 27th and thanks to the fact they don't report to credit bureaus, I have to count on them to send a verification of mortgage.

The broker has been working on it since December and it has finally arrived only after calling them repeatedly and not getting a human . It has finally arrived but I am not sure if I can even get the loan now. I started five years ago trying to get a modification with MGC due to my husband's income dropping by 70% and was denied. I was told they just couldn't understand why I couldn't make that payment.

I don't know what I else I can do.

It's like they want to keep me as a customer so they can keep charging the high interest. I have had late payments so there are late charges so I was told on one of my last calls that because I have late charges, they couldn't help me.

does anyone know how to help?

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Reason of review:
Problems with payment
2 comments
Guest

Experiencing the same issue! Repeated phone calls from myself and my broker can not seem to produce a verification of mortgage.

Wait times of over an hour, being transferred and then hung up on. Website rarely works.

Doesn't report to credit bureaus so no help to my credit even though all payments made on time every single month. Just want my damn VOM so I can get my refinance done and be done with this joke of a loan servicer.

MGC

As an authorized representative of MGC Mortgage, I ask the customer who posted this complaint to contact us directly at mgccomplaintescalations@mgcmortgage.com. We will be glad to work with you on this issue.

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Anonymous

Home Flooded and MGC does not release funds from insurance to complete repairs

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I have contacted the mortgage company regarding the 90% completion of re-building our home after hurricane Harvey. Our home is still not completed because MGC does not want to release any more funds. 3 weeks ago, I was very sick with the flu having to go outside to wash my dishes in a very cold weather, and I spoke with someone in MGC name Lea, and promised to send 50% of funds from the 90% completion, and up to today 02.15.2018, we have not received any funds. We were being taken advantage of one contractor, which we paid our of our savings account, and MGC only reimbursed us $9,277.59 of what we paid the contractor. We decided to use some more of our savings to continue the repairs ourselves. I know you are going to answer "As an MGC representative, we ask that you call customer service" ...... I don't think so, we tried amicable ways to have this issue resolved. At this point, we are just going to leave it the way it is, and hopefully, no one in my family gets sick living under these conditions. I don't have any pictures available with me at this moment, but I will post them tomorrow when I take them.
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Loss:
$50000
Reason of review:
Poor customer service

Preferred solution: send the funds promised for the 90% completion so we can complete re-building

2 comments
MGC

Thank you for bringing this issue to our attention. We have assigned a special contact to work with you to resolve the situation.

Tiffeny Ojm
reply icon Replying to comment of MGC

Fraud is fraud! research if they are in contract with you and have them send you a proof of your contract

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Anonymous

Very bad No one is never their to Answer calls

They try to foreclose on my house without letting me know But I Went to court and put a stop on it
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Reason of review:
Poor customer service
Fredrick Oom

Unable to have communication with a person

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We had a new agreement. We made the first two payments. Got a statement that one was recorded the other was not. I spoke with a person and she said no there was two payments that had not posted. She ask if we wanted a midigation packet. I said no I would make a payment over the phone then wait a little while for the other two payments to be found. This was on November 15th. One week later we had a car break down (repair $2000). An unexpected medical bill copay for surgery ($2500). And last my husband work company sold to a new company and froze our accounts. I called mgc to tell them I would like to do midigation. From then on if I call they tell me to call another department or they transfer me and cut me off. I have had at least 3 calls and when I answer they tell me to hold for a representative then cut me off. I need some help!
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Reason of review:
Poor customer service
1 comment
MGC

As an authorized representative of MGC Mortgage, we regret the customer’s frustration and want to help clear things up. We ask that the customer contact us at mgccomplaintescalations@mgcmortgage.com and we will address each of his or her issues.

We attend to all customer complaints and strive to respond to customer concerns clearly and effectively, and we work hard to resolve all customer issues in a timely manner. Thank you.

Shilana M Rki

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer
| map-marker Plano, Texas

Unknowledgable insurance policy and late fees

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Each year I am being charged for an insurance policy I have no knowledge of nor do I receive any paperwork. This company takes upon them selves to apply insurance to my home when I all ready have insurance on my home.

They apply payments to this policy I know nothing about and then wants to tell me I have late fees. Nope that extra money is for late fees and if you would apply it to the late fees and not an unauthorized policy I know nothing about then my late fees would be covered. This company have very poor communication skills and is ripping people off big time. I refuse to allow this sorry company to gain any access to my home.

I must find me another mortgage company. They have runied my credit score they don't update anything with the credit companies and when they do it all ways negative lies they can't seem to keep track of themselves and can't apply payments right so it falls back on you like your the one not paying on time.

I must get away from this company. Also each year it shows money being sent to me on my income tax form and I never received any funds at all so its like they are milking my home equity each year to where I can't refinance if I try to use it something is not right with this company I must find me a lawyer to look into my files and paper work.

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Loss:
$162
Cons:
  • No communication
  • Rip off company
Reason of review:
Poor customer service

Preferred solution: LATE FEES WAIVED

1 comment
MGC

As an authorized representative of MGC Mortgage, we regret the customer’s frustration and want to help clear things up. We ask that the customer contact us at mgccomplaintescalations@mgcmortgage.com and we will address each of his or her issues.

We attend to all customer complaints and strive to respond to customer concerns clearly and effectively, and we work hard to resolve all customer issues in a timely manner. Thank you.

Anonymous

The worst company I have ever seen

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mgc mortgage brough my loan from New South. They have been the worst company I have ever dealt with.

They say that I was late in making my payments gave them all my payment receipts sent them to them they still did not accept them. My payments was up-to-date now they're saying that I am behind again and I know my payments are not behind. They will not give you an answers when you ask them for something, they will not answers questions, they would not send you papers when you ask for papers on your loan. This company is nothing but a frud.

They do nothing but defraud people out of money, they're stealing money from people and they need to be shut down. The government needs to find out what they're doing and they need to be shut down.

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Reason of review:
Problems with payment
1 comment
MGC

As an authorized representative of MGC Mortgage, we regret the customer’s frustration and want to help clear things up. We ask that the customer contact us at mgccomplaintescalations@mgcmortgage.com and we will address each of his or her issues.

We attend to all customer complaints and strive to respond to customer concerns clearly and effectively, and we work hard to resolve all customer issues in a timely manner. Thank you.

Anonymous
map-marker Plano, Texas

Worst Mortgage Company

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I would love to know how these people sleep at night. Not helping a single mother save her house. Will not accept funds from a local county assistance program. DISGUSTING!!!!!!!
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Reason of review:
Problems with payment
Anonymous

Short Review on January&nbs-05:00;19,&nbs-05:00;2017

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Worst company ever Making me pay for home owners insurance with them and i have had homeowenrs insurance since 2008
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Reason of review:
Problems with payment
Anonymous

MGC VULTURES

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These people are insane. Claimed to be missing payments even when we had the check from the bank in our hands with THEIR stamp on teh back. Faxed them the copy of it...and others they claimed were "never sent it" STILL claimed not to have gotten them even with their stamp of receipt. Sent payments certified with signature required, claimed never to have gotten those. Our LAWYER started sending payments from their office. STILL claimed never to have gotten them. Finally stopped accepting payments..and would return the checks. Funny...they got them then. Went through foreclosure process, all while offering us alternatives to foreclosure...which is called duel tracking, which is illegal. Final stages of short sale now. Filed a complaint if Federal court against them for the Duel Tracking, they sold my loan to another bank a week ago. Would LOVE to join in any class action law suit against these clowns.
View full review
Loss:
$230000
Reason of review:
Poor customer service
2 comments
Guest

MGC Mortgage Inc. does not make loans...this is a lie.-many have court paperwork to back this up (MGC Mortgage Inc.)

One CANNOT be a lender and a servicer at the same time.

MGC claims to be a loan servicer for LNV Corporation which is an offshore Belgian fund with open ended variable capital MGC Mortgage Inc. is in reality an investment scheme of which the sole owner (D. Andrew Beal ) is a vulture funder/investor on the FOREIGN Market who is investing in the secondary market in Asia, China, Jamaica, Canada, Mexico, and the UK with corporate euro bonds. This is a commercial MGC Mortgage Inc.

is classified as a securities BROKER and their lying full of *** people would not know truth if it hit them over the head-RUN do not walk, all know that he is a crook engaging in criminal enterprise. Is engaging in massive tax evasion scheme.

Beal backed the super pac which got Trump elected. So thank him personally for the billionaires club yet to come.

MGC

From MGC Mortgage: We regret that you are not satisfied with your contacts with our representatives. If you will contact us at mgccomplaintescalations@mgcmortgage.com, we will review your account with you to clarify transactions and explain your options. Thank you.

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Ailana Pwk
map-marker Lexington, North Carolina

Short Review on July&nbs-04:00;29,&nbs-04:00;2016

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Sorriest company i have EVER dealt with!!! Wish they would sell my loan to another company. They have no inner office communications at all. I get the same calls from several people pertaining to the same thing. Everytime i think an issue is solved it pops back up. Told them several times I DID NOT want to fill out forms for hard ship. Constantly get calls about it. NO means NO!!!!!
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Reason of review:
Poor customer service
Marylyn Pyq
map-marker West Chester, Pennsylvania

Mgc Stands for Mortgage Gambling Crooks with Beal Bank

Mgc mortgage as we all know is the worst servicer made up by Daniel Andrew Beal and his multi billionaire friends at Beal Bank and LNV corporation, Beal bank s.s.b and Beal Bank Nevada and home to it all is good old Dallas Texas where he flies under the so called radar with the FDIC all the rest of his schemes to defraud the American Public, but we are smart people Daniel . As soon as anyone gets this servicer run run to the nearest Bank , Broker to refinance your loan away from this so called company.

Go to any hard money lender you can find or sell the house so he can't get it, don't believe anything they say this is a horrible disgusting so called company that STEALS houses from hardworking American families . You can also file Bankrutcy but do it early to get away far away from this company of fraudsters

View full review
Loss:
$500000
Cons:
  • Whole company is fraud
Reason of review:
Damaged or defective

Preferred solution: Full refund

2 comments
Guest

Vulture funder whose foreign relations lie in Belgium as well as other places--MGC Mortgage Inc. is the servicer for this vulture.

Guest

MGC Mortgage is an investment company---specializing in mutual funds. They are not a servicer.

This is a lie. Beal is a vulture funder on the foreign market. LNV Corporation is a Belgium fund of variable capital--a public limited liability company.

J. Pat Heptig does all Beal's trademark and patent work to keep this investment scheme alive --taxation dupe and insurance fraud.

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Anonymous
map-marker Jackson, Georgia

MGC Mortgage stinks

Our experience with MGC Mortgage started in 2013. In July, my mother passed away July 1, and we paid the remaining funeral bill. On July 23, 2013, my husband lost his job, ok now we are down to one income. Then on Sept. 4, 2013, I lost my job. Now we were down to no income. We moved out of the house because we could no longer pay for it. We got in touch with MGC and started a loan modification. All was going fine, my husband got a job, the loan modification went through, so we breathed a small relief. After paying my mortgage payments for about 5 months, we received a letter stating that our payments were going up $170.00 because MGC Mortgage did not contact the county and estimate how much the property taxes were. I called and spoke to a Rep. and I was told that the increse  in our payments were due to not having enough in escrow to cover the taxes and I was told that the taxes were MY responsiblity. I told the Rep. that MGC should have followed up on contacting the county office. Needless to say we have to struggle to come up with $170.00 extra a month with only 1 income. I feel like MGC is just a money hungry, decieving, and very unethical company.
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Reason of review:
Problems with payment
4 comments
Guest

MGC Mortgage is not what they tell you. It is a commercial guaranty fraud stemming from commercial real estate financing fraud.

Investment scheme using foreign market and identity theft. Investor in nearly insolvent companies simply to make DIP loans and place the Massive broker fraud using a law firm with vereins of which they are stealing your home and using a 1031 tax exchange to do it, by deferring capital gains tax on what is stolen, laundering title by stealing and transferring to an investment poole of all kinds, using international mortgage lending and violating accounting rules galore. Uses crooked cpas to steal escrow and has a Pari-Passu accounting scheme going on.

RUN and do not walk. Contact every representative in every state.

MGC

As an authorized representative of MGC Mortgage, please I ask the customer who posted this complaint to contact us directly at mgccomplaintescalations@mgcmortgage.com. We will be glad to work with you on this issue.

MGC
reply icon Replying to comment of MGC

Please excuse the typo in the previous post. We would welcome the opportunity to work directly with the complainant to address her or her concerns. Thank you.

Acey Bjt

I see nothing wrong or out of the ordinary here. Property taxes are your responsibility even tho many mortgages require that part of your monthly payment go towards the property taxes.

The mortgage company, in effect has the use of your money all year and then takes the money you paid for taxes---less the interest they made on your money---and pays the taxing authority. This procedure is based solely on estimates of what your taxes will be and is not set in stone nor is it necessarily accurate. The best way to avoid what you went through is to get a mortgage without the escrow arrangement. People rarely think about it as it is so convenient for them.

Until they find out the amount escrowed is too little. MGC is not "money hungry" nor is it "unethical." Your envy of a company trying to do business is unbecoming.

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Paulette Jhf
map-marker Philadelphia, Pennsylvania

MGC mortgage Inc. Preditory lender

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Poor customer service all the way around the board. The loss- mitigation department is of no help and they never return our call. You have to constantly follow-up and when you do you get a vm or if you do get someone in person they tell you to wait until someone contact you. In the mean time they send your account over to process for foreclosure and will not accept no form of payment allowing you to catch up. Poor customer service all the way around the board. The loss- mitigation department is of no help and they never return our call. You have to constantly follow-up and when you do you get a vm or if you do get someone in person they tell you to wait until someone contact you. In the mean time they send your account over to process for foreclosure and will not accept no form of payment allowing you to catch up.
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Reason of review:
Would not accept partial payment alloing me o catch up
1 comment
MGC

MGC Mortgage responds: We regret that you are not satisfied with your contacts with our representatives. We ask the customer who posted this comment to please send your contact information to MGCresearch@mgcmortgage.com so that we can assign a senior researcher to review your account.

We will be glad to work with you to address your concerns. Thank you.

Shilana M Rki

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer
| map-marker Beaumont, Texas

REFUSE TO HELP WHEN GOING THRU HARDSHIP!

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Before my loan got sold to this company I had everything set to my income $452 and my taxes and insurance where being paid by me at my time with no hassles no stress. I was told by Joshua Desoto that my escrow account was only to be put on just for the modification period and would be removed now they have denied me over and over when this account should have been removed.

Every since 2009 I have been having nothing but bad experiences with this mortgage company. I have been praying for a break thru and trying to be very patient with this company. I have sent in a request for loan modification they denied me. I sent in an appeal I spoke with a lady and she sounded like she was going to help me lower my payment and then next day she denied me again.

I have submitted numerous paper work with highlighting and explanations clearly showing my hardship and showing that this escrow account is causing me to be delinquent on the note and other bills and causing my family to have no food to eat no emergency money to evacuate if there was a hurricane. I have explained over and over again showing that this extra $400 this escrow account puts on my loan is causing lot's of hardship, stress and strain on me and my family. Every month we have to struggle to find food to eat and pray no hurricane comes, car don't break down no emergency arises cause we will not have any funds to do nothing cause of this account. Every month I have to defer many other bills to make up the difference for this extra money this account asks for and have shown it on the bank statements I sent in with the appeal.

I am not understanding what anyone at this company is seeing that I don't see with my finances. I went thru the HUD counseling and they even told me they don't understand why they are not removing it or helping me cause I don't have the funds they claiming that I do have. This company even tried to contact them to show them my hardship and they refused to talk to them or answer them or take anything I am showing them and telling them into consideration at all. I tried to go to a bank to get them to help me but come to find out this company has not been reporting anything to the credit bureau's since around 2010.

I am facing a job lay off coming september 1, 2015 and I sent in proof of that and they just blew it off like they just don't care if I am going thru a hardship or not. I understand that I will be responsible for my own taxes and insurance. I have been paying them myself way before my loan got sold to this company and I pay them with my income taxes. I am not understanding why this company seeing my hardship on all the forms and paperwork I have sent in to them clearing showing them my hardship that this extra account is forcing on me and they just refuse to help at all in any way.

I even asked about the HARP program which they claim they don't participate in like there is nothing they are willing or wanting to do to help me lower this note so I will be able to have food for my family and emergency money in my pocket if needed. This $1,020 note drains all finances each month even at times causing my account to overdraft when other bills are in disconnect and have to be paid so my family will have lights & water etc. Instead of them helping find a solution to keeping my home for my family they insist on me saleing but I refuse to sale my home its what me and my family have been living in and will continue to live in no matter what this company try to pull on us. They keep telling me my account is delinquent well if they look at my bank statement's very very closely and read all the explanations on it they will clearly see that this extra $400 a month is causing not only this note to be behind but all my bills to be behind cause I have to not pay any of the other bills to make up for this Extra $400 amount.

On top of all this come to find out I was charged for hazardous insurance when I all ready had insurance on my home and I was told it was flood insurance they had purchased but the policy they sent me said hazard so I paid for another hazard policy when it was suppose to have been for flood now I have no idea if there is a flood policy in their possession. Very frustrating company to deal with I have never had so many issues.

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Cons:
  • Dont care about your hardship only see money
  • Lack of communication
  • Lack of concern about customers situation
Reason of review:
refuse to assist me removal of escrow

Preferred solution: REMOVE ESCROW ACCOUNT I WILL PAY MY OWN TAXES AND INSURANCE THIS REMOVAL WILL GIVE MY FAMILY THE EXTRA EMERGENCY MONEY AND FOOD WE NEED.

4 comments
Jovaughn Int

They got 11thous out me for homeowners insurance an I had chapter 13 trustee to nobody found it that I was paying for 2 INS policy for over 3 yrs I still may lose my home after 3rd bankrupt n 7yrs over 2thous mth I pay to

Guest

please find a lawyer and sue this company. I did and now they are trying to add insurance and escrow to my account.

another 740.00 a month. Can't wait to take them to court again. this time I will be asking for a total pay out of my property because of the pain and anguish that I have been dealing with. Contact this lawyer.

Gagnon and peacock. 214-317-****.

I won my case and guess what you can too.

Jovaughn Int
reply icon Replying to comment of Guest-1094562

Wow I need to thanks contact this attorneys for sure

Guest

From MGC Mortgage: We sincerely regret that you are not satisfied with your experience with MGC Mortgage or your contacts with our representatives. If you will contact me at complaintescalations@***.com we will review your account with you and fully explain your options. Thank you.

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