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I have never had financial problems, never been late on a payment, and RCS tried to screw me over time and time again. If your mortgage has been sold or otherwise transferred to RCS, look at the reviews. You will see people have the same problems, and they never get resolved. There are too many of these complaints (as well as lawsuits against this company - and think of how many people will never find their way to a forum to complain!) to ignore, or believe your own bad experience is a fluke. The only way to find peace of mind is to REFINANCE with a different company. That is what I did, and so happy I did. I found a local credit union to refinance my home loan, and things have been fine ever since.
This company does not try to work with you at all. The only way I got anything done with this company was by going through HUD. The woman I had was so good dealing with them. She even said she couldn't believe how bad this company is. But we were able to keep our house. But now they refuse to send me a monthly statement, and even though I send my payments, at least 10 days early they don't post them in time. I sent my last payment on the 5th, it's now the 20th and they still have not posted it. I called yesterday and talked to a man and said he would check it out and call me back. Haven't heard back from him yet.
Called RCS to speak with someone in their legal department. Was told that there is no direct number to legal department. Left phone number and no one has called.
I never chose to be with RCS, just like many others in this forum. I purchased my home for $156,000. It was appraised at $368,000 when RCS took it. They pretended to be working with me to modify my loan, and in the process got an order of foreclosure behind my back. They had lost my original loan documents and when I pointed out to the judge that RCS had filed an affidavit of lost loan documents, all he said was "They'll find them." Even the attorney for RCS was surprised. She never even opened her mouth.
My city had a foreclosure prevention program that paid the lenders up to $20,000 as a good faith payment to modify the loan and cure the arrearage. RCS refused, then the same rep the city official spoke with (while I was sitting beside him) swore up and down, she never heard from anyone, and no one had offered anything. "But, I'll work with you." Yeah. I learned later there was already a buyer for my house before the foreclosure hearing was even held. Apparently he worked directly with RCS to steal my home from me. He got a house for under market value, and RCS made out like a bandit - sold the house for more than it was owed. I got nothing. That was in 2008. I have not found anyone willing to take this on, but at least I told my story. I lost my home, my son's inheritance, and a lot more. There has to be some way to get them out of business.
This is the worst mortgage company ever! They keep charging me late fee for $125 every month ever since my previous nice mortgage company sold my loan to them. Even I paid before the end of the month, they said the post office took two weeks or so to deliver and then I got the automated deduction from my account they still charged me $125 because it took them 12 days to receive the payment even it was from their website. Also their website does not give an option to pay for the late fee, so I have to call in to change from the principal payment to late fee every month. It has been three months since I have to pay $125/month. I don't know what to do with them...
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Sent a billpay to them more than three weeks ago to pay off the loan, yet still not showed up on my account. The billpay company called RCS twice but they won't tell any info. Called RSC to do a three way call, they said they can't do it. They just wanted to collected more interest, and the customers' interest is not their concern. Stay away them ASAP.
We call them on our ins, fax them the amount that was owed and they went and paid more than what was owed making are payments go up more. And if you're late sending payments they like charging you insp fee of 13.50 and a late fee of 11.50 and then I call them to ask what was a nor/breach fee of 8.00 dollar every month and they said that didn't know what that was for. All the fees and no one in the government doing anything about it I guess it's legal what they're doing to everybody. Thanks.
I have read many of the other customers of RCS and I am not surprised by the bad experience they have all received from this company. Just like any other RCS customer, my mortgage was transferred by Citizens Bank (RBS) to RCS back in 2009 during the recession. I have been with this company for almost 6 years, never been late on my payments, never expect one time I decided to use their online payment system. Made my payments and got a confirmation email that my payment was processed.
A few days later I noticed RCS had not credited my account so I called them and asked them why it was taking them so long to credit my account. The "customer service representative" (CSR) told me the payment was not processed. I asked why, he couldn't give me an answer right away, so he promised he was going to research it then he would call me right back. Waited for the phone call for two days when that CRS didn't call back; I decided to call again. Coincidentally the same CSR answered my call and he remembered me. I told him I had waited for his call for 2 days, and he told me he thought he had called me back. Unbelievable!!!! Can you imagine this is a business?
Anyway he told me that it looked liked there was a problem during the transition, therefore the transition never actually went through. I asked him how that would be possible since I received a confirmation email that my transition was processed. He couldn't answer that question, so he decided to take my payment over the phone. I asked him if this was regarded as a late payment. He told me technically it was because he had just processed my payment past the due date of the 16th. I asked him why RCS never sent me an email letting me know that there was a problem or an error with my payment therefore the payment was not received, but rather they sent me a confirmation email that my payment was received. He couldn't answer that. He however apologized for any inconvenience and promised that he put a notation on my account and I wont incur any late fees.
However when I received my next month statement, I noticed I had late fees of about $46. Called back, got this CSR who was very rude. He told me it was my responsibility to make sure my payment was credited from my bank. If I had checked my account information everyday, I would be on the phone with him at that time. I asked to speak to his supervisor because he was being so rude to me and he asked me what did I need the supervisor for. The was no reason for me to talk to the supervisor. I asked him if he spoke to all the other customers disrespectfully like he was speaking to me, and he said he did not think was speaking to me in a disrespectful way at all. I insisted on speaking to his supervisor. He put me on hold for over 30 minutes, then this man actually hung up on. I was so disappointed in the lack of respect and dignity this company treats its customers.
From that minute I knew I no longer wanted to do business with RCS. I have tried to refinance my loan but unfortunately, I was not able to because a condo owner in my association owes 25% of her HOA. But am not going to stop trying to get away from RCS until I will refinance. I really do not like RCS.
I have to figure out what & how to approach it but this Company is bad, truly bad. They have no integrity. Very Very Shady Operation. I have to talk to a lawyer. While I understand order Number and Add Receipt part adds more legitimacy. It's my mortgage. What I had with them is a loan and there was a record which is public. These people played a very shady game with me and they sold the loan to someone else and now the same thing is happening. It's hard to believe that dishonest businesses like this exist out there.
Our mortgage was taken over by RCS from BofA. Shortly after, we received notification that our loan had been unilaterally modified to reduce the rate and the term from what we had, which increased our payment. I had a reduction in income of 50% and requested a modification. We received a decrease of .40 per month. That's right, a whopping forty cents per month!
We called and were reminded that we had a prior modification (unilateral and beneficial only to RCS) and told that based on their calculations, we could afford the payments even though we had a significant decrease in household income. The amount that they want us to pay to cure the default is approximately 3000.00. Over half of that amount are attorney's fees and RCS has never explained in any detail what those fees are for since there had been no litigation in this matter. This company is on par with Ocwen Bank, neither are companies that you would want to business with.
Residential Credit Solutions Company Information
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- Residential Credit Solutions