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Predatory Lenders: EMC Mortgage and Bear Stearns

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FTC wins $28 Million Settlement!
Wall Street Get $700 Billion, but how have victims been helped?

Mortgage Mess 2002

Channel 8 TV - WFAA.com

Watch Bear Stearns' EMC Mortgage lie in this video. EMC later testified during a 2004 trial that Wright was never in default and also testified they did not own Mr. Wright's note.

While still on the witness stand, EMC was asked: So you saw Bank of America's errors, but rather than correct the mistakes, you just decided to steal Mr. Wright's home and equity didn't you?" EMC answered: "Yes."

Within moments, the judge shut down the trial and recused herself. The trial was never finished.

EMC Vicitims Testimonials

September 09, 2008

EMC Settles with FTC

September 10, 2008

Former EMC Employee Publicly Discloses the Ugly Truth About the Mortgage Servicing Industry

By Denise Richardson, July 11, 2008

The Consumer Warning Network released a stunning video that has a former EMC employee reciting an inside story that paints a picture of why so many people can't get their loan out of default and why some people lost homes even though they had the money to pay off their note. Investigative studies, insiders and victims -have claimed that mortgage servicing companies can make MORE money off of homeowners when they keep your loan in default.

"The media has failed to tell the full story" says Danny Schechter, producer and director of 'In Debt We Trust' and the 'News Dissector' from mediachannel.org. See: Bringing the Wall Street Crisis to Main Street!

Professor Katherine Porter described many of the same disturbing findings in her recent study: "Misbehavoir and Mistakes..." To watch her on CNN see: Are you facing an Unfair Foreclosure?