EMC Reviews

EMC raised their rates without notification. Once their interest rates were increased, the increase was more than 5% at once. When the market interest rates decreased and we expected EMC's interest rates to decrease for their customers, they said it's against policy to lower interest rates greater than 1%. So no policy to increase, but a major policy when decreasing interest rates.

I sold my house as a short sale 5 years ago. EMC put it on my credit as a foreclosure, and they reported that I was late 3 times over 30 days. I was never late and the house was included in Ch 13 bankruptcy. Now that I am trying to get a new house, I decided to dispute the items (I say items because EMC has it listed 3 times on my credit report). Instead of them updating my credit report with the correct information and instead of them removing 2 of the 3 (same) items, they left all 3 on the report and change the date to show June 2009. So at that time, the mortgage company I was trying to use told me that I have to get that updated or I can?t get a house because it looks like I had a foreclosure this year instead of 5 years ago. I called EMC and explained my situation. They said it isn?t anything they can change and I need to dispute it on my credit report. They said they don?t think they are reporting the wrong information and it shouldn?t be on the report 3 times (no duh). So I disputed it again, and guess what, they updated the short sale date to July 2009. I did it again every month and every month, they updated it so now it says September 2009. I?ve called and talked to over 50 different representatives, and they all tell me that nothing in their notes reflect that I?ve been calling in and everyone keep telling me I need to talk to another department. I just gave up. Finally I found a lender that let me get a loan and I just had to show them proof that the house was sold 5 years ago and proof that I wasn?t late on my payments. To this day, EMC still reports that I was late on my payments, that I foreclosed THIS year, and it?s still on my report 3 times. They are hurting my credit but since I?ve re-established credit since then, I am able to get a house. Those are the worst non-customer service representatives I?ve ever talked too. EMC is horrible and a disgrace, but their negative marks, still can?t hold me down.

Even though the website has numbers to call for loan modifications, they rarely modify. My husband was laid off late last year and needless to say, we got behind on our mortgage. We contacted EMC to explain the situation and asked for a modification, we were denied because we were not far enough behind. After my husband found another job, we tried again, denied. We tried to refinance, again we were denied. We recently put our home on the market, but due to the fact that we now owe more on our home than it's worth, we have had no offers. Our realtor suggested a short sale. We contact EMC and was told that YES they could help us. We wait for the paperwork and finally received one day before it was due back in their office. We did get it faxed in and had to call them to find out if they received and what our next steps were. We were told that they would not do a short sale for us and any offers that the reator submitted to them would be denied. We continually get the run around from this company. You call them, leave messages and they never return calls. When you finally speak to someone, no two people will tell you the same thing. Steer clear!