You Think It Would Be Easy?

Defaults on mortgages continue to top the news. Based on the experiences of some of my clients, I’m not surprised. This is an industry that has become infested with part-timers and incompetence. Forget about customer service. For the past two weeks, my colleague, Kevin, has been trying to obtain the signed closing documents for a property he is an investment partner on in Mukwonago, Wisconsin. He first placed the first call to Land Closing Services in Wauwatosa on March 13th - Land Closing Services was the company which handled the closing. He reached a woman named Sue who said that they would find the file and send the documents out the next day. A week past and so he called them again on the 20th. Again, Sue answered and said that since Tom Vajda handled the closing and he would have to speak to him – but he was out until the next day, so he would have to call then. He did. Kevin then left a message with his email and two phone numbers. He’s still waiting for a call back or an email.

We’ve also contacted the company that is servicing the mortgage, Homecoming’s Financial. After first saying that they couldn’t send the documents, they changed their minds after reminding them that they were obligated, by law to do so. After reversing their original objection, they said that it would take one week to process the request and another 5 days to reach us by mail. Right. We’ll see.