Is Midland Mortgage Co. good or bad

Guest

If you research Midland Mortgage Co, you might see alot of negative comments on various website about the company/broker, however you have to evaluate during this period of the economy there were alot of foreclosures for various reasons and as terrible of a situation it is to be in a foreclosure situation, a few people chose to post negative comments about the company. So I would take those comments/feedback with a grain of salt.

As a recent customer of Midland that was not in foreclosure or default, my mortgage was current and my mortgage was sold to them from my previous lender which I was happy with, so I did not chose them. I can sincerly say that I would not recommend them to any family or friend of mine.
I felt they were difficult to contact, had expressed in writing alot of shady practices and did not offer me an opportunity to refinance since they were only restricting the refinancing to 2 states. So in less than a year with them I refinanced with a lender that has a better reputation. Eventhough, I was able to refinance at a lower interest rate, I cut 5 years off my current mortgage that I had with them and lowered my mortgage payment over 30% and eliminated any worries of dealing with their shady practices.
As far as, contacting their customer service and actually being able to talk to person is dificult and have to go thru approx 5-8 minutes of automantion prompts, and when do you reach someone you get inconsitent answers to questions and any requests that you make might or might not be processed on the first call. When I did call, often I would be greeted with an automation system that some male has recorded his voice in a screaming and angry voice. It really scared the hell out me and started to give me an unfavorable opinion about them.
As far as shady practices, they raised my escrow portion of the mortgage by 75% which increased my mortgage payment by 35% for no apparent reason; keep in mind this is a fixed intrest loan, since there was no change in insurance premium or taxes, instead it was the opposite my insurace was lowered by 50% and my taxes had decreased by 10%, so this did not make sense to me, until they sent me a statement that they were charging me an escrow reserve charge. Why? who knows. Another shady practice was when I switched insurance company I spoke with a CSR and was told that I would have to pay out pocket, which I did, so what did they do? They paid the new insurance company, why? A week later they wrote to me that they did not know I was carrying 2 insurance companies on my property, I was like Huh? Two weeks later I got a poorly written letter threating that I should pay them the all refunded insurance monies I recieved to them, without any specific dollar amount. They just wanted it all. It would make more sense for them to write a profesional letter stating "we made a mistake, your escrow account will be short this amount, please pay this amount.
Anyways, I feel relieved that I will no longer be their customer and yet another chapter starts of when will I get my mortgage escrow back to me, since it has been several weeks I refinanced just to get away from them. I hope they improve and it sounds like that they might be changing to better their image, but if you ask me today what I think about them? "Run as fast as you can and do not look back"

adonis · Posted: Wed Jun 10, 2009 12:00 am Post subject:

Thanks for sharing your experience, RDR. I have seen a lot of people complaining about this mortgage company. Even I hope that the company would try to bring in some changes so that they can better their image.

Guest

TO ANYONE WHO WANTS THE GOSPEL TRUTH CONCERNIG "MIDLAND MTG." CONTACT ME VIA EMAIL! THEY TOOK OUR HPOES, OUR DREMS, OUR SECURITY, OUR PRIDE, BROKE OUR HEARTS OUR SOULS ON OUR DREAM HOME WE LOVED, LIVED, LAUGHED, MADE 17 YEARS OF BEAUTIFUL MEMORIES WITH OUR FAMILY THERE, IN FACT THEY TOOK AWAY MY MOTHER LAST DYEING WISH,THEY GAVE MY HUSBAND A MASSIVE HEART ATTACK FROM THE STRESS OF MISLEADING US PUT ME IN THE HOSPITOAL FOR 19 DAYS, AS I WAS JUST FINALIZING THE LAST SIGNITURES TO FINALIZE MY NEW TERMS AFTER I WORKED MYSELF SICK WITH THEIR LOSS MITIGATION DEPT. ONLY TO COME HOME FROM THE HOSPITAL, TO A ATTORNYS LETTER DEMANDING 54,000 IN FULL OR IN 2 WEEKS MIDLAND MTG. WAS PREPARING TO FORECLOSE ON MY HOME MY LIFE MY ONLY SECURITY! THAT LETTER ARRIVED THE VERY NEXT DAY, THEY ALREADY HAD A SALE DATE, AND BECAUSE OF MY UNEXPECTED EMERGENCY HOSPITIALIZATION, THE DEATH OF MY MOMA, THE BRAIN TUMOR AND DISABILITY OF MY HUSBAND AND THE PENDING DISIBILITY OF ME, AND MY MOTHER IN LAW, TRUTH IS THEY TOOK AWAY ALL THE PROMISES ONCE THEY SEEN OUR ILNESS,s, DROP IN INCOME and SLID A RECORD FAST FORECLOSER IN ON US! YOU See IT WAS THE EXACT TIME OF THE BEGINNING OF THEIR LIES LIKE ALL THE OTHERS THEY WERE GETTING READY TO GET CAUGHT BY THE GOVERMENT! WE HAD PMI INSURANCE PROTECYION AND SOLD OVER THE PAY OFF AMOUNT AND HAD GOOD EQUITY BUILT I STILL HAVE NOT RECIEVED 1 Penny OF MY OVERPAYMENT NOR HVE I RECIEVED ANY WORD ON WHAT THE INSURANCE PROTECTION IPAID FOR MONTHLY PAID TO THEM! THE LAST CALL TO THEM, I THREW UP! THEY ASKED US, WILL WHO TOLD YOU ALL TO MOVE?????? AFTER I SEN A COPY FOM CIRCUT COURT OF THE CHECK MADE TO THEM, AND ATTORNY,S FEEs 5/6 OTHER UN CALLED FOR MONEY CHANGING HANDS THROUGH THE COURTS! BUT THEY NEVER EVER ADISED ME OF ANY OVER PAYMENT OR CLOSING DATE NEVER INVOLED US IN THIS PROCESS AT ALL!!!! NO ONE WHOULD CALL US BACK AND WE NEVER RECIEVED ANY KIND OF FORMAL PAPERS ITEMIZING COSTS OR NOTHING! I ONLY KNEW I HAD SOME ESCROW OVRAGE BECAUSE MY NEIGHBOR OF !( YRS PURCHASED OUR HOME AND TOLD ME WE HAD A SU LEFT OVER AND TO GO AND GET IT! RIGHT! I NOW NEED A ATTORNY TO GET MY MONEY!!! ALL THIS OVER BEING BEHIND 1,758.00! SO TO ALL OF YOU WANTING TIO KNOW ABOUT MIDLAND? YOU PROBABBLLY KNOW MORE THAN ME BY NOW AND I STILL DONT KNOW WHO WHEN WHERE WHAT WHY OR HOW THEY EVER GOT AWAY WITH DOING THIS TO ME AND MY FAMILY!!!!!!!!!!!!!!!! GOOD LUCK HOPE I SAVED SOMEONE OUT THERE!

[Email address deleted as per forum rules. Thanks.]

manoj_gopale · Joined: 16 Feb 2009 Posts: 481 0.49 Dollars($)

when someone hears such kind of experiences from other people one should strictly avoid these kind of companies because plenty of lenders are available in the market.and why one should stake one's health due to these stressful deeds.

I strongly believe that one should always choose the best companies even if I pay some extra dollars per month that is OK but threatening or using malpractices while dealing with customers is really a bad example of business.

keep in touch...

Guest

MIDLAND/MIDFIRST BANK have their hand in the cookie jar. We filed a lawsuit in Galveston,Tx in 2008,these bad boys will not honor our 2000 discharge order. The FHA DISCHARGE DEBT was bought by them in 2005,they have attempted to collect by re-aging and reporting it on our credit. It is 2009 and they continue to maintain that it is our. This goes to trail Nov 2009. We have been fighting for 10 yrs. I refuse to allow these bad boys to bully us with a discharge order, NOPE I dont think so. I was injured as a U.S. Letter Carrier in 91, paid 5 yrs on time,never late. So the fight is on. (pgreen019@comcast.net)

Guest

These guys are rich and well connected. They make alot of there money losing misplacing payments. They play games with escrow. Then they intimidate the legal represenitives and get them to quit on there clients. I hope some Attorney General collects all the facts on these lower than low scum bags and nails there hides to the wall. Class action please!

bensonclive · Joined: 16 Aug 2009 Posts: 91 -0.12 Dollars($)

they play this game because they want to take control of the property and never care much about the repayment so a loan.

Posted: Sun Oct 18, 2009 6:00 pm Post subject: Midland Mortgage

I have had Midland Mortgage for about 7 years now...Ive never been late on a payment EVER and my equity is way passed the threshold to have the PMI removed and I have even had an appraisal done and they still refuse to remove the PMI...I contacted the Federal Trade Commission who handles these complaints but all they do is document the complaint and not resolve them.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1737 36.13 Dollars($)

Thats really sad the way these compnies do business

If you have equity in the house, probably this is the right time to refinance with some other lender and get rid of the PMI

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