Tuesday, January 10, 2012

 

THE MORTGAGE MELTDOWN MESS

This post is made by my good friend Stanislaus Dreuckebdodevitskovitz, who has made several posts recently on various topics, many of which deal with frauds and scams.

I did some research recently on the Internet, into the mortgage meltdown mess. I was checking out some other subjects, and I ran into a video on YouTube about keeping from being put out on the streets by greedy banks and mortgage servicing companies. I am not even ONE DAY LATE on my mortgage, and I assume I can stay in my home for as long as I continue to send in regular monthly payments, altho I did file for bankruptcy a coupla years ago. Almost immediately after filing, Chase sold my loan to IBM, which had it’s own Lenders Service Corp. or some such, then within a few months, my loan got sold again, this time to an outfit called Seterus. I kept on making my payments, and occasionally I would hear or read something about a mortgage mess, so I got to thinking, as prices of ALMOST EVERYTHING continued to climb (which shouldn’t be happening during a Depression), that it sure would be nice to have a little extra $$$ each month, and that perhaps I could get Seterus to make a loan modification, reducing my interest rate and my monthly payment. That was when a REAL NIGHTMARE began!

Little did I know that Seterus had NO INCENTIVE and certainly NO INTENTION to reduce my interest rate and my monthly payment, REGARDLESS of what President Obama and the Feds did or said! In fact, I now realize that Seterus EXPECTED me to become late, so they could ADD ON lots of late charges and fees, thus increasing their profits, which is why they bought my mortgage in the first place, knowing ahead of time that I had filed for bankruptcy. My attorney had already advised me to try to keep my mortgage payment on time, which I did. Anyway, still being pretty naive on the subject, I called Seterus and was told that I would have to get my attorney to FAX them a form, giving them permission to deal with me directly, since I was in bankruptcy. I did as they wanted, then a few days later I called Seterus again. Guess what? They claimed that they had no form on file and wanted me to get my attorney to FAX it again! This continued to go on for a few months, starting last September 1st! In fact, as of today, January 10th, there have been FIVE forms FAXed by my attorney, and Seterus still claims they don’t have one! In other words, I’m being given THE STALL! In talking with one of the gals in my attorney’s office, I found that others have also been given the stall by Seterus! I asked my attorney to phone them, but I don’t expect anything different to happen.

I wrote my Congressman, and he was very helpful, as I suggested that perhaps new legislation was needed to try to get these mortgage service companies under control better; he suggested that I contact my State Attorney General’s Office here in Arkansas, which I did. They did send a letter to Seterus, and they got a response from some fellow in a Consumer Office, who sent a different FAX number for my attorney to use in FAXing another form (I think this was number 4 out of the 5 mentioned above). Of course, when I called Seterus again, the form couldn’t be found! I’m now thinking about contacting Obama and his new appointee (without Senate approval, the one that created the uproar from the Republicans, who are always FOR BIG BUSINESS). I don’t expect anything to happen, so I’ll put this on the “back burner,” until a snowy day comes along when I have absolutely nothing else to do.

I did learn a lot about the mortgage mess, while researching it on the Internet. I ran into a video that showed me how to sue my mortgage company, asking them to produce the original note I signed! This has apparently worked for others, especially those facing foreclosure. Since I’m not facing foreclosure, I could send them a letter (when I get my printer working again, as I gave my 2 typewriters to a local non-profit, thinking I would never need them again), return receipt requested, stating the problems I’ve run into, while trying to get a refinance, and asking them to produce the note! I also learned that many of the 6 largest banks in America have resorted to criminal fraud (which ordinarily sends someone to jail) to produce forged documents, so they could present these to various courts where people are asking to see the note! “60 Minutes” ran some good stories on this, even locating one lady who signed papers showing her as the Vice-President of a bank (and eventually she was shown to be the Vice-President of 6 different banks, all in the same week), where she was only a $10 an hour employee of a company that was paying people to sign 350 papers an hour! They showed her signature on various papers, and it changed each time, as others were also signing her name (even a male employee)!

It’s pretty hard to believe all this stuff, but I have no doubt that it is going on! One video suggests that we take our $$$ out of those 6 big banks and put our $$$ in a small local credit union, so our $$$ won’t be sent to Washington, as these same big banks and mortgage companies are now trying to get Congress to pass laws legalizing all this mess. If you don’t believe me, just do a search and find out for yourself!


One website even suggests that I can sue my mortgage company for MILLIONS! I haven’t found out how much they want for their “special lawsuit software,” but I’m sure it won’t be cheap! I’m not really interested in suing right now, but I may still send them a letter, return receipt requested, stating the problems about the refinance, and asking them to produce the note, just to see what happens (assuming they do sign the return receipt and not REFUSE it).

If you are involved in this mess, one fellow suggests that you just walk away, another suggests that you quit paying on your mortgage, but the best advice (and the one that made the most sense to me), was from the Congresswoman from Ohio, who said to be sure to STAY IN YOUR HOUSE! As with all other scams on the market today, DON’T SEND ANY $$$ IN FRONT to any outfit, regardless of what they tell you: there are outfits that will do a forensic audit, check your loan to see if there are any legal violations, check to see if there are any predatory lending practices, get you an easy refinance, and you name it, all wanting $$$ up front for various “fees!” They are all scams, especially if they want some $$$ up front! Legitimate companies and attorneys will work with you, if you need this kind of help, without trying to ROB YOU even more!

They really do enjoy kicking someone when they’re down, don’t they? Be VERY SELECTIVE about who you contact and to whom you give out personal information, especially Social Security Numbers and Bank Account Numbers, not to mention Debit and Credit Card Numbers! Become very skeptical and don’t believe much of anything you hear over the phone or read on the Internet (or hear in a video on YouTube)! Another thing to remember is to NOT TRANSFER YOUR TITLE to anybody, even a non-profit (or any other outfit) that says they will help you! You are STILL RESPONSIBLE for the mortgage until a court cancels it (if and when this happens)! If someone else has the title, then you have NO HOUSE!

Here are some legal terms that may be useful if you want to write letters (run a search to learn more) - these seem to be the most common mistakes found in mortgage documents, violations of these Federal Laws:

TILA = Truth In Lending Act.
RESPA = Real Estate Settlement Procedures Act.
MERS = Mortgage Electronic Registration System.
Predatory Lending practices.


You have a right to have someone run an audit on your mortgage situation under Section 6 of RESPA, but beware of some of the Forensic Audit Companies, as there is potential for fraud here, too, especially if they want $$$ up front!

Here are some URLs that I ran into while researching this subject; I haven’t checked most of them out yet, and I certainly make NO RECOMMENDATIONS about their honesty, reliability, and such:

www.CancelAMortgage.com - their 800 number is a “voice mail only” number, as I called it 3 different times and entered 3 different extension numbers, and each one took me to a voice mail box; I never did talk to a LIVE HUMAN BEING, so I didn’t leave them any call-back info where they could contact me.

www.SolutionsSoftwareMatrix.com - Have to register - FREE software, supposedly.

www.LoanModifyService.com - training for Starting A Loan Modification Service.

www.EasyMoneyDailyAtHome.com  - May be EasyMoneyDailyHome.com (I’m not sure - run a search) - Loan Broker.

www.NoteQueen.com - training on buying and selling notes.

www.NoteBuyingProfits.com - how to profit buying and selling notes.

www.consumercr.com - MortgageLitigationProgram.

www.StopForeclosureFraud.com - just what it says.

www.WebOfDebt.com/articles/mers - ditto.

Happy Hunting.



Here's a good website to check out: "Studio Quality Portraits For Less" -Click Here

Here's another good website to check out: "Green Cleaning Products" - Click Here
 
Here's another good website to check out: "Bibles New and Used" - Click Here

 
Here's another good website to check out: "Don't Get Burned By Driver Update Scams or Fake Anti-Virus Scams" - Click Here

 
"Free E-Book About Free E-Books" -Click Here

 
Here's another good website to check out: "How To Adjust & Repair Your Sewing Machine" - Click Here - We may turn this "Book on paper" into an E-Book in the future, if enough people want it. If you are one of those who would buy it, please let us know.


Here's another good website to check out: "Affiliated Website Designers" - Click Here


Here's a good Scam Forum to check out: "Internet Scams Forum" - Click Here

Here's a good Forum to check out: "Dachshund Forum" - Click Here


Here's a good reference on Forums, where you can find lots of information on just about any problem: - Click Here



Copyright 2011 by Preston Smith,
Silver Dollar Press,
an Affiliate of Walker Enterprises.
All Rights Reserved.

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# posted by PRESTON @ 11:56 PM

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