My daugher was run over by a car. My wife had cancer. So I entered a forebearance plan where we skipped 3 months payments and paid them back with higher monthly payments over three years. But in the third year of repayment, Midland Mortgage charged for "late fees" for the entire repayment plan. I asked them to explain the fees twice. They indicated that I was behind the original note and charged fees until the repayment plan brought me current.
I asked why these fees were not disclosed or factored into the repayment plan. They indicated that they could not make the repayment monthly payments higher. But I was caught up now on the note. I could repay those late fees at the end of the loan. That sounded fishy. So I asked our prepaid legal. The lawyer indicated during a forbearance, all late fees are waived and no additional "default" interest is charged. But disputing fraudulent banks costs money, so I deferring the questionable, undisclosed fees. And now I have to pay them.
They also changed the credit report to show us having late payments the entire duration of the repayment plan and in pre-forclosure, though now we were in good standing. I asked why they had changed that. They indicated that I had agreed the forebearance plan may affect my credit. Yes, but it had originally stated that I was in a contract modification. It became clear to me over time that they had damaged my credit. I could not refinance. I was stuck with them and the fraudulent late fees. I paid them for so long now that our credit is clean. But I would advise you avoid them if at all possible.
Raeding the online critiques they appear to do business with a couple other lenders on a regular basis. Be careful if your note gets passed between them.
Last year our mortgage got sold to Midland mortgage and it has been a nightmare ever since. They incorrectly reported that we did not pay our mortgage during 2 months. This is false and I have tried fighting it through the company (I have called multiple times to speak to customer service and they are rude and not willing to help at all), I have reported to BBB, and my next step is to fight through the credit bureau.
I have proof that I paid my mortgage those 2 months, but they are unwilling to reverse the discrepancy. I have never in my life written a bad review about a company, but this will be the first time. I have never encountered a worse company in my life. They are rude and commiting fraudulent acts. They are taking advantage of people with their power.
Although we have an extremely low interest rate, we will be refinancing just so we no longer have to be with this horrible company. I would recommend you do not give them a single dime of your money, they will somehow screw you over like they have MANY other people. You can find many reviews on the internet about this.
In December 2009 Midland mortgage held on to my modification paperwork from my lawyers until my home went into foreclosure (March 2010)! Don't finance your home through this company!
Midland Mortgage Reviews
My daugher was run over by a car. My wife had cancer. So I entered a forebearance plan where we skipped 3 months payments and paid them back with higher monthly payments over three years. But in the third year of repayment, Midland Mortgage charged for "late fees" for the entire repayment plan. I asked them to explain the fees twice. They indicated that I was behind the original note and charged fees until the repayment plan brought me current.
I asked why these fees were not disclosed or factored into the repayment plan. They indicated that they could not make the repayment monthly payments higher. But I was caught up now on the note. I could repay those late fees at the end of the loan. That sounded fishy. So I asked our prepaid legal. The lawyer indicated during a forbearance, all late fees are waived and no additional "default" interest is charged. But disputing fraudulent banks costs money, so I deferring the questionable, undisclosed fees. And now I have to pay them.
They also changed the credit report to show us having late payments the entire duration of the repayment plan and in pre-forclosure, though now we were in good standing. I asked why they had changed that. They indicated that I had agreed the forebearance plan may affect my credit. Yes, but it had originally stated that I was in a contract modification. It became clear to me over time that they had damaged my credit. I could not refinance. I was stuck with them and the fraudulent late fees. I paid them for so long now that our credit is clean. But I would advise you avoid them if at all possible.
Raeding the online critiques they appear to do business with a couple other lenders on a regular basis. Be careful if your note gets passed between them.
Last year our mortgage got sold to Midland mortgage and it has been a nightmare ever since. They incorrectly reported that we did not pay our mortgage during 2 months. This is false and I have tried fighting it through the company (I have called multiple times to speak to customer service and they are rude and not willing to help at all), I have reported to BBB, and my next step is to fight through the credit bureau.
I have proof that I paid my mortgage those 2 months, but they are unwilling to reverse the discrepancy. I have never in my life written a bad review about a company, but this will be the first time. I have never encountered a worse company in my life. They are rude and commiting fraudulent acts. They are taking advantage of people with their power.
Although we have an extremely low interest rate, we will be refinancing just so we no longer have to be with this horrible company. I would recommend you do not give them a single dime of your money, they will somehow screw you over like they have MANY other people. You can find many reviews on the internet about this.
In December 2009 Midland mortgage held on to my modification paperwork from my lawyers until my home went into foreclosure (March 2010)! Don't finance your home through this company!