How to check if your mortgage statement is correct
Posted January 28, 2009 - 16:02 by Xin Lu
This week the Federal Trade Commission sent out around $28 million in redress checks to more than 86,000 customers of Bear Stearns and EMC Mortgage Corporation. Apparently EMC Mortgage engaged in a flurry of unlawful practices such as misrepresenting mortgage amounts owed, charging unauthorized fees, and engaging in abusive collection practices. This is obviously a case of a dishonest company, but I am sure some customers were defrauded without even realizing it because they trusted the statements they received. This is a guide to how you can double check that the mortgage statement you receive is accurate.
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