Emigrant Mortgage

by Anonymous From Syosset, NY on November 30, 2009

They charge a 16% late fee or 89.00 for being 30 days late. They will never give you a chance to catch up. They are looking to foreclose on people's homes.

by Julia From Brooklyn, NY on November 20, 2009

Once you agree to a default rate at 18% or 24% with Emigrant you are cooked and at their mercy. They can declare a defualt for a myriad of reasons and not just for an installment default. If enough people did not agree to their default interest rates they would cease that practice. Apparently, they are still in business with that.

by Tom From Palm Coast, FL on November 20, 2009

Thieves specializing in preplanned foreclosures to make money at default interest at 18% or 24%, and equity during foreclosures.

by M Shu From New York, NJ on November 19, 2009

This is by far the worst, thieving, lying, and corrupt mortgage bank I have ever dealt with. Their customer representatives are the most discourteous, foul-mouthed people "servicing" the Bank's customers. What a joke. Their policy of raising their interest rates on late loan payments to 18% and offers to modify past due payments so instead of monthly payments of $5,000, you need to pay $8500 to catch up? Are you kidding me? Terrible people, under handed business practices, immoral and unethical as they come. I have not read ONE positive comment here on this blog. Is that telling us something about Emigrant Mortgage?

by Anonymous From Northwood, NH on November 18, 2009

We fell behind on mortgage payments but were still sending a monthly payment then they decided to return our payment. We called and were giving the amount we needed to prevent foreclosure, we took money from our 401k to get caught up and they still sent our check back. They wont return any phone calls & there attorney wont either. Still not sure who to call or what to do

by Anonymous From Point Pleasant Beach, NJ on October 22, 2009

by Anonymous From Closter, NJ on October 16, 2009

this bank is not willing to modify if your home has equity, they just want to foreclose and sell the property. we have to stop this bank from running all over the helpless homeowners.

by Anonymous From Waterford Works, NJ on October 15, 2009

ok first of all these ignorant *ss people don't care about anyone. All that matters is the employees get paid for being really rude. oh man .. where should I start.. Ok well my father has been dealing with this mess of a company for quite some years now. How ever he has fallen behind on his payments ( I mean who hasn't), we all seem to be struggling but them. So in doing so he attempted to make payment and do you believe they sent it back. it was like all or nothing. So crooked they wouldn't even except anything, unless it was the full amount. There was no working deals with these people. Until they called one day acting very ignorant and I put them in there place that the person got so upset, that they hung up eventually. Now this time around, with the economy being so bad for us struggling beings, they harassed us for a while, due to falling in arrears again. So I applied for a loan modification through an Obama program, and my father has been approved. Surprisingly Emigrant crooks moron company accepted the modification. To sum things up it makes a person want to destroy their house and turn it into the insurance company, that's how pissed off this rejects of a company makes people. All I did was read up on law books and found out allot of info. There is so much fine print with this emigrant nonsense. DON'T DEAL WITH THIS COMPANY UNLESS YOU WANT TO GET RIPPED OFF.. FOR YOUR HARD EARNED MONEY.

by Anonymous From Greenbelt, MD on October 06, 2009

We all need to stop the writing and get with lawyers that they might be able to help with our homes these days. I am going to see about getting someone from the White House included in.

by sleepless in Fl From Kissimmee, FL on October 02, 2009

These people are pigs and I am gonna get the news media on their backs

by Maryland From Glen Burnie, MD on September 21, 2009

Lost my job got behind they said all they could do was let me pay an additional $800 a month. Couldn't pay original amount how was I to come up with another $800. I tried to get a modification called Project Hope they said Emigrant Mortgage was the only company that wouldn't work with them. I was contacted by their attorney faxed 36 pages of information as requested asked for a response. They responded ok they put the house up for auction and purchased it back themselves. House worth at least 245,000 owed only 152,000 they purchased it for 175,000 They said the difference between the 152,000 and 175,000 would pay for the lawyers and other fee's I guess they will now put it on the market and sell it to get my equity. What trash they are and this is how the tarp money is working it's paying off the crooks. We had better watch our backs if this is how TARP works just think what OBAMA CARE is going to do for us.

by kaross4559 From Kissimmee, FL on September 07, 2009

Emigrant mortgage auctioned off my house in February. They auctioned it off to a company in New York called Retained Realty, which is located one street over from Emigrant mortgage. I had a lawyer look at my paperwork and he said I never stood a chance of keeping my house and suggested I get in on a class action suit if any are out there. My mortgage was for 123,000 they auctioned off my home for 167,000. To date I have not gotten an accounting of what was done with money from the sale.

by Modesto R. Gonzalez From Boynton Beach, FL on September 04, 2009

Emigrant Mortgage are thieves, I got $375K and pay them for 3 years. Fortunately I got a new bank who helped me. I paid them $400. I have never done a crazy business like this THIEVES!!!!!!!

by melissa From Bridgeport, CT on September 02, 2009

Anyone interested in help with dealing with this please email at mbarnash@aol.com Thanks.

by Nancy Launi From New York, NY on August 31, 2009

My parents have both been very ill and have always paid the premium but are behind on late charges that are astronomical.

by Anonymous From Saint Albans, NY on August 31, 2009

by Anonymous From Ridgefield, CT on August 13, 2009

Idiots who added $1,000 a month to my payments after stalling on mortgage modification for 5 1/2 months and then denying modification. Horrible people...who do i talk to now?

by Kelli VanNosdall From Sayreville, NJ on August 11, 2009

by Joe T From Lanoka Harbor, NJ on July 24, 2009

Looking for victims of Emigrant Mortgage, for possible class action suit and to put pressure on elected officals. e-mail me at fairview418@yahoo.com

by hank diehl From Melville, NY on July 16, 2009

more of the same... Refuse to deal with me for a modification. Their idea of that is to triple my mortgage payment for three years. If I had a hard time at the original amount what makes them think I can afford to triple my payment. Contacted both Senator and congressmen for my area with no success. If anyone has started a class action suit I would be more than happy to join in. Have no clue why they(emigrant) can get away with their practices.

by Greg From Brooklyn, NY on June 19, 2009

Emigrant makes money on pre-planned foreclosures. The interest rates kick in at 18% on residential, and 24% on residential rental properties (commercial). They get back their loan principal sooner and reinvest into other loans that are likely to default. Stay away from them if you do no want to ruin your family. There are many bansk out there to do business with.

by Anonymous From Bryn Mawr, PA on June 11, 2009

Emigrant is a privately wholly owned subsidiary of New York Private Bank & Trust Corporation. On 1/9/2009 it sought and received $267,274,000 from the US Treasury under TARP. There are about 8500 banks in the United States. As of January 31, 2009, there were 558 banks in the TARP program. That means 6.5% of US banks have been given special consideration and received public funds. Of that group of 6.5%, few are private banks. Emigrant Bank is hardly some critical part of the US banking system but has taken advantage of a federal handout of $267,274,000. In doing so Emigrant has new obligations. Bankrate.com reported as of 30 September 2009 in their INSTITUTION SUMMARY that Emigrant Bank has been rated significantly below average in earnings, asset quality and capitalization. Newspapers reported that financial analysts said Emigrant was struggling and sought and received government cash bail out money. Emigrant is in TARP because they ran into business difficulties. We want to negotiate, they won’t. Our mortgage contract has an attachment clause which permitted them to double our mortgage payment to 18% on the entire balance, not just the amount in arrears. For most of the long history of Pennsylvania, such a clause, for such an amount, would have been illegal. A major source of our problem was that Emigrant refused to accept a partial payment after ninety days in arrears. That in itself was a problem. Emigrant made it worse. They demanded an additional payment of another 9%, which was computed on the entire outstanding balance. Stated another way, we had difficulty in coming up with three payments to catch up, and the bank’s solution was to double down and demand six payments. A broker who was familiar with them told me that they wished to maintain their reputation as a “hard-ass” bank. I assume that may be one of the reasons that they ended up in the TARP. We attempted on numerous occasions to negotiate a settlement with the bank with no luck. My wife had to file bankruptcy and at the time, I was able to secure commitments on two separate mortgages, both in excess of one million dollars. The bank refused both offers. Emigrant went so far as to advertise the sale of our house in US Marshall sale for an amount less than they would accept from us in cash. The mortgage was approximately $750,000 but the compounding of the 18%, (nine percent plus the penalty of an additional 9%) kept exceeding the amount a new lender was willing to extend. At every stage Emigrant has been unwilling to accept modifications or any type of reasonable and fair settlement and did so even after it sought and received $267,274,000 from the US Treasury. At the end of the bankruptcy proceeding Emigrant refused an offer of an amount it claimed in bankruptcy court filings. We are suing them in federal court. The bank has consistently refused to supply documentation to our lawyer showing how they arrived at the amount they are claiming. They do not answer his emails and phone calls. My wife had to re-file bankruptcy in order to stay the sale. Emigrant demanded and received a hearing to remove the stay. In court, Emigrant argued that we owed them more money than the appraised value of the home. They failed to mention the usurious 18% interest and how that depleted our equity. Emigrant did not disclose to the court, that they were recipients of $267,274,000 under TARP, a primary goal of which was to assure, not just the financial stability of banks such as Emigrant, but the continued homeownership of borrowers on reasonable terms. Prior to that hearing the bankruptcy judge ordered us to a reconciliation meeting. Emigrant, hard ass to the end, refused to do anything, and they did this with full knowledge and no disclosure of their moral and legal obligations under TARP. Emigrant would have to negotiate if they weere not in TARP because they were in serious trouble. They will steal anyone's and everyone's equity to build a war chest to get out of TARP. TARP made it worse for us and others. You will not beat Emigrant going alone. They are masters at what they do. Get together.

by Mike From Bryn Mawr, PA on June 10, 2009

The bottom of the barrel. We were late, went to 90 days and they raised our mortgage to 18%. been fighting them ever since.

by james From Queens Village, NY on April 24, 2009

There is a serious issue regarding the way Emigrant mortgage co is conducting business. The have been under the political radar, its time for this institution to be fully exposed. These company's are receiving vast sums of tax payer money - by way of TARP, etc..., and yet still refuse to help the common home owner. Some thing needs to be done, say what you may or think, but at the end of the day, Emigrant is looking out for Emigrant, the are just as bad as these credit card company's, which is another issue for later discussion. We as the people need to work together we need to get the politicians involved do you agree. We want Emigrant to do the right thing and stop being so greedy to the point that its policies and the way they do business is disgusting and shameful!!!!, lets pull our resources together. digital1circuits@aol.com

by annonymous From Georgetown, MA on April 23, 2009

they foreclosed on my house and auctioned it off the day after my mother had a massive brain hemmorage. they talked to us about trying to work out payment plan,company it self would not speak to us at all.house was sold to a realty company in new york{surprise} house in in massachusetts

by M. DeLuca From Stamford, CT on April 01, 2009

I am a victim of mortgage fraud with this company. The representative that was sent out to complete the mortgage paperwork mis-represented the criteria of the loan. We were not "sworn in" at any time as he stated legal aspects of the loan, which we did not fully understand and were not explained in full. He did not allow us to thoroughly read the details of the loan before signing or initialing, as he was in a "hurry" to get to another meeting. He took advantage of our ignorance with the mortgage industry and pressured us into signing without full disclosure, advising we should sign that night or risk losing out on the loan. We also had a witness present that night. We were not aware of the ability of the company to raise their rates at any given time. We tried to contact Emigrant when making the monthly payment was getting harder and harder. Finally we were not able to pay our mortgage and were then threatened with foreclosure. We tried numerous times to talk to the company and explain our situation and asked them for help and advice, especially due to the fact of how the loan papers were represented and signed. When we counter sued through a lawyer who acknowledged that we had a valid and strong case against Emigrant, the foreclosure was rescinded, this happened twice. When we didn't hear from Emigrant for quite a few months at the end of last year, we thought they might be working on a mutual way to help us by re-writing the loan, but instead we were sent letters of foreclosure in federal court with almost no time before we have to be out of our home. We now know that this is an illegal procedure, Forum Shopping, that mortgage companies often use in order to foreclose on homeowners. The federal foreclosure documents state we were notified months ago, but we were not. There are blatant lies in the documents. We received the documents the last week of March, nothing before then, and now they are evicting us in a week. We now have to leave the home that we put our life savings into, not to mention that our credit is destroyed and personal health issues have arisen. Financially I have nothing left, the house is everything. We realize that we will have to sell the house. We tried last year, but unfortunately the housing market made that difficult. We are looking to have this case brought back into state court. We just need some time to pursue our case, to be heard in court, as our lawyers strongly feel there is a valid case here and to try to sell our home and salvage what we can. We are turning to you with no other resource for help.

by Anonymous From Belcamp, MD on March 19, 2009

Horrible - told me they would consider my clients short sale, made them pay 450.00 for apprraisal then denied it because they can sell their house and make some money! Advised client to seek attorney to form class action lawsuit.

by Anonymous From Hampton Bays, NY on February 11, 2009

Mortgage Broker forged my name to 7 documents, made agreements I never agreed to, bank won't deal with it. Much more, reported to Banking comission and District Attorney..

by Syndie Molina From Uniondale, NY on February 10, 2009

When it comes to hard times don't expect Emigrant to help. If you make an agreement get it in writing because things have a way of "disapearing".

by brendamarie alexander From New York, NY on February 08, 2009

They have refused ALL of my request to revise my loan so I may repay them just at a lower monthly payment of $4000.00 instead of $6200.00

by \joe toma From Lanoka Harbor, NJ on February 01, 2009

Worst experience of my life, dealing with a company. I've been dealing with companies for 35 years, their arrogant, dishonest, etc. form the top down. There owner is billionare Howard Milstein. Part owner of NY Times, NY real estate, NY Islanders etc. His cronies make themselves look good on our sweat. They refused to talk in person, everything is done on paper because they don't have the brass to face you. I was over charged over $40,000 in insurance fees and taxes, while I had it in force. I had a comittement to pay them off, they stalled for 2.5 months, then the comittent ran out. Their attorney told the judge the bank wants the house because there's plenty of equity in it. That's their MO. Anyone with problems with Emigrant please contact me. Strength in numbers. PS: Howard Milstein has obtained $7 Billion from the TARP money. Check him out. He contributes to both side of the isle.

by ROSEANN DELUCA From East Elmhurst, NY on January 28, 2009

I dont see them as communicating with people easily, they dont seem to really care about their customers.

by anonymous From Brick, NJ on January 28, 2009

Filed complaint with NY Attorney General office. Their going to investigate. Write to AG office and tell you story. I wrote to Senator Menendez office at first was very helpful. Then stopped helping. I found out that Emigrant and its owner Howard Milstein are campaign contributors to him.

by Class action suit From New Hyde Park, NY on January 24, 2009

email me @ berk7775@aol.com ready to start class action suit with all of the above. Have atty in place.

by Class action suit From New Hyde Park, NY on January 24, 2009

email me @ berk7775@aol.com ready to start class action suit with all of the above. Have atty in place.

by Class action suit From New Hyde Park, NY on January 24, 2009

email me @ berk7775@aol.com ready to start class action suit with all of the above. Have atty in place.

by Anonymous From Katonah, NY on December 31, 2008

by liz From Toms River, NJ on December 20, 2008

very rude and sneaky. delivered forclosure lawsuit without warning days before christmas. What a bunch of sweethearts

by liz From Toms River, NJ on December 20, 2008

very rude and sneaky. delivered forclosure lawsuit without warning days before christmas. What a bunch of sweethearts

by Anonymous From East Meadow, NY on December 05, 2008

Lies, games, unethical behavior. Horrible to deal with. In my opinion, based on my experience with them - NEVER DEAL WITH THEM!!!

by anonymous From Fairview, NJ on December 02, 2008

Check their web site. They promote foreclosure bail-outs..STILL The MOB would be investigated today. It's owner and ceo received a man of the year award from Cornell. He owns part of NY Times. Wrote editorial about banks should help homeowners??? what a phoney. His name is Howard Milstein

by bobbi mathis From Brooklyn, NY on December 01, 2008

by Patricia Costanzo From Freehold, NJ on November 12, 2008

by Anonymous From Secaucus, NJ on October 29, 2008

by Anonymous From Barrington, IL on September 23, 2008

Second time they are after OUR equity! Didn't work for them first time around, won't work this time. Our pmt went from 5700. to 10,300./mo they are trying to crush us. We have an ARM so it adj about $1000. then they added our taxes in. We have paid our taxes on our own for 25 yrs! 1st time around they sent their own invertor to buy our home. They say they don't want our home. OK, but they do want our years of EQUITY. They are criminals! They are sick!Good Luck to anyone that does business with these horrible people.

by yankeesmith From Northport, NY on September 22, 2008

started foreclosure after 45 days late.Encouraged me to walk away from home leaving $125k equity for them.Besides paying back 2 mos. mortgage, penalty was same as mortgage payments, making it cost double the mortgage payment for a total of three months due at one time. So $6k due in three months mort. became $12K due before the three months was even up. Can this possible be legal.

by anonymous From Pennington, NJ on September 19, 2008

Foreclosed on me while I had written agreement. Charged me three times for the same period for home owners insurance while I had policy in force. Has anyone dealt with their attorney Epstein? Went to NYC to talk with them through me out and called security. Looking for people that would file suit together against them. Also talk to attorney general office. Check your mortgage papers and check your signatures. Some of mine were forged.

by anonymus From Forked River, NJ on September 19, 2008

Did the same thing to me. House was going up for sheriff sale. Went to court as pro se, granted stay for two weeks, their attorney was ordered to get back to me with correct figures never did went on vacation. Looking for people with problems with Emigrant for class action suit. Mortgage papers were forged. Went to see lawyers, didn't believe me

by Anonymous From Slatington, PA on August 01, 2008

by Anonymous From Roosevelt, NJ on June 11, 2008

No notice, rude incommunicative staff, started foreclosure without notice after 10 years as mortgage lender. Deserve to lose on their foreclosure process, and impersonal methods of doin business.

by John & Tina DeFrank From Gloucester City, NJ on March 18, 2008

Foreclosed our house without notifying us of anything. We lived in our home for 18 months. After 3 missed payments, foreclosure is started. They tried saying we never made one payment. They took it directly from our bank account each month then denied even doing it. How can someone live in a house for all of those months without paying anything?? RIP OFFS!! Never deal with this company...

by Anonymous From East Meadow, NY on February 28, 2008