EMC was included in my Chapter 7 and my case closed a few weeks ago. The home is not yet scheduled for foreclosure. EMC tells me they will do a deed in lieu and give me "moving money". They are sending the paperwork. Does anybody have experience with EMC? I am wondering how much they will offer and what I will have to do in order to qualify. Appreciate any input?
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The only thing I would caution you about is the wording in the contract. They may include language making you responsible for the debt if you accept the money. Right now you have no obligation to the loan and may be at risk if you sign any paperwork from them. You may want your BK attorney or a real estate attorney review the contract before signing it. -
A couple of weeks ago EMC's loss mitigation dept told me they were sending me a 'package' for the cash for keys program. Sure enough, 9 days later I get a letter from EMC. HOWEVER, it was just a short sale information sheet with no mention of the cash of keys program and I had one day to get the entire short sale package to them or the file would be closed.
FYI: In the meantime, before receiving the letter, I verified that I was not eligible anyway because I have a second mortgage so they have to complete the foreclosure process.Filed CH 7 9/30/2008
Discharged Jan 5, 2009! Closed Jan 18, 2009
I am not an attorney. None of my advice is legal advice in any way..Comment
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