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Business Profile

Escrow Services

MGC Mortgage, Inc.

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Escrow Services.

Complaints

This profile includes complaints for MGC Mortgage, Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see

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MGC Mortgage, Inc. has 3 locations, listed below.

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    Customer Complaints Summary

    • 7 total complaints in the last 3 years.
    • 0 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:08/11/2023

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I fell on a serious hardship and fell behind on my payment 1 month due to my child's funeral expenses. My car is broken down, AC gone out in the home and other issues. I have no extra funds to get anything fixed. I reached out to this company in Prayer to get some assistance on resolutions that will be for long term fix. I sent in all paperwork, hardship letter everything they asked from me. I explained everything in the paperwork and application I submitted. This company over looked everything I stated in my hardship letter and denied me payment deferments, denied me to lower my interest rate and/or lower my monthly notes. Instead I was told to stop paying all my other bills so I could pay this one and to not have any emergency situations. I have no vehicle to get to work I have to pay someone to bring me back and forth our AC is out in our home and it is 100 + in ***** and miserable for my family to sleep at night. Instead of this company working with me to find a long term solution they offered me to pay 2 x the amount I am paying now which is over $1000 a month. Why would you expect me to pay 2 x what I am paying now when I am in a hardship financial bind. This company does not care about the customer at all. They made it clear to me only thing they are worried about is making sure they get their money. This company makes is very hard to get any type of assistance when you need it and do not care about anything else you have to do. I been in my home for over 19 years and I tried going to another company to get away from this one and I am being told I have no equity in my home which is very fishy and I do not understand why nor the other company do not know what is going on at all either. Every year I am faced with the same situation and instead of this company helping me with a resolution that will be long term they are only wanting to raise my payments and put more financial bind on me every year for their own greed. This company is horrible no hearts no care.

      Business Response

      Date: 08/29/2023

      Hello,

      Attached is the response that was sent to the borrower on August 29, 2023.  MGC has resolved the issue directly with our borrower and considers the matter closed.

      Thank you,

      Customer Service

    • Initial Complaint

      Date:02/18/2023

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I received my escrow money from M, G. C. Mortgage company *************************************************************************. My wife passed away in July of 2022. They put check in my name and my wife's name. I had to return it and asked to have it put in my name only because bank would not cash it This was in October of 2022. I have mailed several letters to them asking what is the problem. I have had no response. It has been 5 months. I am very upset that this company would do this. I hope you can resolve this issue. Thank you

      Business Response

      Date: 05/16/2023

      Hello,

      Attached please find a copy of our response for your review. 

      Sincerely,

      Customer Service

    • Initial Complaint

      Date:12/09/2022

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I purchased my home in **** and MGC Mortgage bought my mortgage from my lender about 5 years later. During the pandemic I was approved for forbearance. When the forbearance ended I resumed paying my monthly mortgage in January 2022. MGC Mortgage accepted payment and then informed me that I had to complete a Loss Mitigation packet. I called MGC Mortgage and explained to them that I have had NO contact with the ex who I had purchased the home with in **** since **** and had no idea where he was. I was told that the modification would be based solely on my income. I completed that packet and returned to MGC. Approve April 2022.. Finally the paperwork arrived asking for me to sign. The paperwork also requested that the other borrower sign also, even though the modification was approved solely on my financial situation. I immediately called MGC Mortgage. I was told to have the co borrower sign a Quit Deed Claim, even though I explained that i had no idea where he was! I hired a lawyer to assist. My lawyer sent in the modification agreement with my signature and a letter explaining the situation and explained that he would be assisting me in trying to locate the co borrower in order to remove his name. No response from MGC. In August MGC accepted first payment over the phone. Received nothing stating modification was not in effect. Then I receive docs from MGC lawyer stating that they were accelerating my loan and would execute foreclosure in Jan 2023. I called and was told it was due to the missing signature. State programs were suggested. I immediately applied for HAF on 9/16. HAF has been trying to onboard MGC mortgage since September. I receive updates from HAF stating that MGC has not onboarded so they cannot process my application. I am incurring late fees and the foreclosure is still on for Jan 2023. I have called numerous times, nobody seems to be able to help. Emails have been sent to escalation department and promised call backs in 24- 48hrs- no response.

      Business Response

      Date: 05/18/2023

      MGC responded to the Borrower by letter on January 12, 2023 and February 24, 2023.  MGC believes that all of the issues raised in this complaint were addressed in that correspondence and considers the matter closed.

    • Initial Complaint

      Date:11/22/2022

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      My home was damaged during Hurricane **** MGC Mortgage wants me to endorse my insurance claim check to them and they say they will release it in thirds back to me and only after I pass some made up inspection that they are demanding. My roof needs to be repaired and if I cannot use my insurance proceeds I will never be able to fix my roof because 1/3 of the claim amount will not cover repairs and no contractor is going to do work without payment. MGC Mortgage is a predatory lender and I have had nothing but problems with them from the beginning.

      Business Response

      Date: 06/12/2023

      Hello,

      Attached please find our response to ****************** which was mailed to her on 6/9/2023.  MGC believes the response fully addresses the issues raised in complaint and we consider the matter closed.

      Regards,

      ***************************, AVP

       

      Customer Answer

      Date: 06/15/2023

      I am rejecting this response because:   I sent MGC over $47,000 in checks and although they state that they have sent me a check for $5,000, I have not received anything. 

      Customer Answer

      Date: 06/15/2023

      The $31,000 check that I sent was incorrect which is why the insurance company put a stop payment on the check. However, the replacement check was sent to MGC and received by them. It was deposited on May 25. For them to act like they dont have it is disingenuous. I cannot complete any repairs on my home because they wont send me my own money. Although they state that they sent me a $5,000 check, this is absolutely false. I do not have any of my insurance funds.

      Business Response

      Date: 07/12/2023

      Hello,

      This complaint was closed before we had a chance to thoroughly investigate the borrower's June 15th rebuttal to our initial response.  Attached is the response to the borrower's rebuttal that was mailed to the borrower on 7/11/2023.  Please **** this case as resolved and closed.

      Thank you,

      ***************************, AVP

      MGC Mortgage, Inc.

      Customer Answer

      Date: 07/12/2023

      I am rejecting this response because:   They do nothing but cause problems. They said they mailed a check on June 8, which can take 15 days to receive. So if on June 15 I still havent received it, that would be fine since it can take up to june 23, which it did. Now they are canceling the check I received and I have to wait again to do any repairs on my house and its been 10 months since the storm. MGC is a joke of a company.

    • Initial Complaint

      Date:11/08/2022

      Type:Billing Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I asked for a loan modification in 8/2021,it took 10 months for paper work to arrive in 6/2022 when it arrived it had my previous married name, I could not get the papers notarized because that is not my name (I sent my divorce decree to mgc 10/2012)this was verified 11/1/22 by a MGC employee. Resending the papers took another month or two now the problem was the amounts due with paper work was 4xtimes the original amounts. It was not my fault that the name was incorrect! I'm simply asking for the original amount be honored. I continue to call MGC to be put on hold log periods of time, promised call backs that don't happen or threatened that I must sign and pay $10,000 or be denied, I am still receive documents with the wrong name!
      I would like for them to refinance, loan mod or whatever it takes so that the original amounts on modification papers is honored.
      See the attached pictures of the amount difference, I was told after receiving the second packet to wait for a call back (*******)to resolve the amount difference.

      Business Response

      Date: 04/22/2024

      The attached response was sent to the borrower today, April 22, 2024.  We consider this matter closed.

      Customer Answer

      Date: 04/24/2024

      I have reviewed the business response and accept this resolution. 

    MGC Mortgage, Inc. is NOT a BBB Accredited Business.

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