Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Fed up
I subscribe to "Lawyers and Settlements"  and they just posted these 2

SOME NEWLY FILED CLASS ACTIONS:
KB Home and Countrywide Financial Corp. (allegedly conspired with appraisers to boost housing prices as the market crashed)

Homecomings Financial (allegedly engaged in a scheme of illegal and deceptive business practices of home-secured loan transactions)


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keep in mind the individuals behind these problem companies,look at the boards of directors, and see how most if not all of them are struggling to survive plunging stock values, and are beginning to be sued by investor groups for their deeds!  look at not only COUNTRYWIDE, KB HOMES,MGIC,RADIAN, CBASS,SHERMAN CAPITAL, AND LITTON LOAN!  Look and see for yourself, who sits on what boards! 

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One thing I've noticed about the industry is that you can't seem to swing a dead cat without hitting someone who, at some point in their career, worked for GE Capital - no offense to cats.

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Your right Mike, I also wonder why, a certain IP number that is used by a certain German bank, is traced back to NYC, and being used by GE Capital?

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GE has its' hand in this at every turn.

I have said this for MANY years.

I stand by my statement.



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Ann you have been vindicated!  IP numbers don't lie! GE.
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We have our second mortgage with Homecomings. On our statement we have a charge listed under Total Unpaid Amount. We are in chapter 13 bankruptcy. It seems that this charge is not being paid under our plan. This is creating a late fee EVERY MONTH. The charge increses with every statement. We have tried to make an appointment with our BK lawyer and have had no luck. I guess we will be on the phone this week since they have not called us back. It started out at $1000 in August and is now $1839. We have no idea what this is and/or why this is not being paid under our bankruptcy. All I know is that it keeps getting bigger and bigger. Any suggestion would be helpful. We are in a really big fight because HomEq is our servicer for the large part of our loan and Homecomings is servicing the second mortgage. I'm beginning to think that we just need to pick up and move and let them have the damn house. We have no equity. I just don't get it when these companies are being taken to court time and time again and yet they still keep up their damn fraud. By now the whole world knows about this and yet we have little hope. I JUST DON'T GET IT.
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Vicki Sitton wrote:

"We have our second mortgage with Homecomings. On our statement we

have a charge listed under Total Unpaid Amount. We are in chapter 13

bankruptcy. It seems that this charge is not being paid under our plan.

This is creating a late fee EVERY MONTH. The charge increses with every
statement. We have tried to make an appointment with our BK lawyer

and have had no luck. I guess we will be on the phone this week since

they have not called us back. It started out at $1000 in August and is now

$1839. We have no idea what this is and/or why this is not being paid

under our bankruptcy. All I know is that it keeps getting bigger and bigger.

Any suggestion would be helpful. We are in a really big fight because

HomEq is our servicer for the large part of our loan and Homecomings is

servicing the second mortgage. I'm beginning to think that we just need to

pick up and move and let them have the damn house. We have no equity.

I just don't get it when these companies are being taken to court time and

time again and yet they still keep up their damn fraud. By now the whole

world knows about this and yet we have little hope. I JUST DON'T GET IT.”

 

 

Vicki I am not a lawyer and this is not intended as legal advice.

 

I sense your anguish over this double barreled problem. First of all it

needs to be said whether it relates to your immediate situation or not, that

the mainstream as well as the powers that be (Lawmakers) do not really

understand what goes on. I had a woman my age bring it up at a class I

attended last week and she was adamant with the mainstream idea, “Well

they just got in over their heads.” When I explained that mortgage servicers

frequently hold payments and charge unwarranted (unknown and

undocumented) drive-by inspections to generate artificial late charges when

the regular payments are skimmed off the top to pay this dubious charges

she didn’t believe it. “Well, they signed the note didn’t they?” was her response.

       Next without rubbing salt in the wound but for the benefit of others I have

never ever encountered a single person who took bankruptcy who went on to

sing the praises of this alternative.  To the contrary quite often (not always) they discovered that taking bankruptcy as a bandage solution led to even more

unexpected problems. I suspect such is the case with your immediate dilemma. 

 

We/you don’t know this yet and won’t unless you verify it by checking but I

suspect the wording of your bankruptcy terms sealed your fate. It is possible

that there was a large balloon payment that needed to be paid off first before

you began your regular payments.

      Check it out. I think you’ll find that you hastily agreed to pay a balloon

payment.  It must be satisfied first Vicki.. It’s as simple as that if my guess is

correct.

      I honestly hope my guess is wrong but to others out there, unless you

did something like hit and kill someone in your car and consequently face

a multimillion dollar judgment, bankruptcy is seldom the best choice.

 

Unfortunately I think you hit the nail on the head when you said, “I'm beginning

 to think that we just need to pick up and move and let them have the damn

house. We have no equity.”   

 

Ed Cage  |  1804 Cross Bend, Plano Texas 75023  |  ecagetx@gmail.com  |  972-596-4363    

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No, there was no baloon payment included in our BK papers. And we had NO choice but to file Bankruptcy. I lost my job and we had credit cards and other bills we could not pay at the time. I have since returned to work. We received a paper from our BK attorney back in December that they were going to court for us regarding our Homecomings mortgage. In the latest letter we recieved from our attorney it states in our plan that the Homecomings arrears are not-in-plan. Whatever that means. We need to find out why. Our HomEq arrears are inclluded in the plan. We have not been informed as to why our Homecomings arrears are not being paid. HomEq owns the bulk of our loan. Homecomings is only a small part. We pay no escrow to Homecomings. Anything I need to ask the lawyer would be of help.

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Fed up
This article discusses fees in chapter 13 bankruptcy.  Also has a lot in it regarding fraud.  One interesting tidbit was it says "after the bankruptcy court reviewed the charges they were dismissed" 

http://www.smartmoney.com/consumer/index.cfm?story=20071116 

and for the other MSF victims, there's alot of info in there regarding this whole scam. 

Ed, isn't is just incredulous how you can explain this fraud to supposedly educated people and they still don't get it? 

Even after my settlement my best friend, Barbie, who is now a school teacher would say "Karen you just need to pay your bills!"  Oh, that' would infuriate me!!! 

Then my attorney that I had hired and then fired because he kept saying "Well Karen you haven't paid a mortgage payment in 10 months".  I told him NO and I'm not going to either!  If you add up all of the fees I've paid, the forced placed insurance I've paid when I had insurance, and all of the money they have put in suspension, I'm acutally paid ahead by those 10 months plus 5 more.  The State of Michigan agreed with me 100% when they did their audit. 

and Vicki, I'm still researching it, but before the new bankruptcy law, I thought that all fees stop.  I'll let you know what if anything I find. 

From a very icy, cold Michigan! 
Karen
still Fed Up!! 
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Dear "tired and tattered:"

Not trying to be cute here but are you also "Vicki Sitton?"

The situation Vicki Sitton described is most likely caused by a

balloon or settlement payment immediately upon exiting her

existing mortgage payment agreement and successfully

completing bankruptcy proceedings.   

 

Vicki Sitton wrote:

"We have our second mortgage with Homecomings. On our statement we

have a charge listed under Total Unpaid Amount. We are in chapter 13

bankruptcy. It seems that this charge is not being paid under our plan.

This is creating a late fee EVERY MONTH. The charge increses with every
statement. We have tried to make an appointment with our BK lawyer

and have had no luck. I guess we will be on the phone this week since

they have not called us back. It started out at $1000 in August and is now

$1839. We have no idea what this is and/or why this is not being paid

under our bankruptcy. All I know is that it keeps getting bigger and bigger.

Any suggestion would be helpful. We are in a really big fight because

HomEq is our servicer for the large part of our loan and Homecomings is

servicing the second mortgage. I'm beginning to think that we just need to

pick up and move and let them have the damn house. We have no equity.

I just don't get it when these companies are being taken to court time and

time again and yet they still keep up their damn fraud. By now the whole

world knows about this and yet we have little hope. I JUST DON'T GET IT.” 

 

Ms. tired and tattered if you are also aka Vicki Sitton and the above dilemma

is in reality your situation, I stand by my explanation above under post #8 in

this thread:

http://www.websitetoolbox.com/tool/post/ssgoldstar/show_single_post?pid=23983165&postcount=8

 

Mr Ed

(Waaaaaaay too many multiple akas in here Vicki)

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Sorry about that Ed. I normally use this when posting. As all of us know that are on this site, sometimes we are not thinking clearly. Have a lot on my mind and I accidently posted under my name.

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No problem tired & tattered. But I happen to agree with your

last line in which you summarized your options and what

appears to be your primary alternative.

 

I'd let it go.

 

God bless you and your family.

Ed Cage
Plano Texas
972-596-4363 (Listed)

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Fed Up
Okay, so you have no equity in your home and are willing to just let it go.  How sad.  I take it that this is a home and not just a "house", big difference there.  Anyone can live in a box and call it a house, but your home is where you live, the heart of your family. 

I noted above that you said: 

In the latest letter we recieved from our attorney it states in our plan that the Homecomings arrears are not-in-plan 

and you don't know why?  hmmm, maybe your attorney/attorney's secretary failed to include it in the plan? 

I've worked for attorneys for 20 years (including bankruptcy attorneys) and their SOP is to hand the filed to their paralegal and/or legal secretary and say "here file this".  Once the bankruptcy package is done, the attorney glances over it, signs his name and off it goes.  This may or may not have been the case with you, not pointing fingers, just trying to help you figure it all out.

I personally would be on the phone with your attorney and ask him why it is not in the plan and if it could be possible to do an amendment to that plan.  AFter all you did ask "what questions to ask"  right? 

Good luck to you!
Karen


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Thank you Fed Up. We will be on the phone with the BK attorney today. And Fed Up we do not want to walk away from our home. We have a very nice home in a good neighborhood. We have finished our downstairs, which is a walkout. We did this about 4 years ago when my mother was sick and we were makeing it a place for her. Unfortunately she never made it. In September we lost our beloved dog of 14 years. She is buried in our back yard. I don't want to leave my home. It is all very frightening. Yet I am living in another world. I am looking at our home differently these days. I am trying to convince myself that it is just a house although it really doesn't feel that way. I feel like I have to distance myself from my home. The thing is when we got this house we had the income means to sustain it. When we first bought the house we were with First Horizon. The one thing that has clicked during all of this mess is that a lot of the other mortgage companies we were with have also taken some of our money. This is before we ended up in this sub-prime loan. Saxon also took some of our money. Yet before all of this happend with the servicers I was not getting it. Hindsight is 20/20. The only reason we ended up in this sub-prime mess due to our broker who called himself our friend. It's a long story but at the time we were not looking to refinance. It was our broker who encouraged it. Now I'm sure he is paying for his deceitfulness. And although I'm not (or at least wasn't) a hard hearted person he got exactly what he deserved. He is no longer living in the house he used to live in and I am sure he is suffering financially, and if he is any kind of person he is suffering emotionally as well. Thank you Fed Up for the little encouragement you gave me. It truely means a lot that you're encouraging words give us even a llittle hope.

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Fed Up
Well I've been there and done that.  My purpose on being on this website is to pay back some of the sage advice I was given when the future looked so bleak to us.  Advice, encouragement, support is what we all need. 

It was hard leaving our old house and to buy the resort, we had several beloved dogs burried in an animal cemetary of sorts.  So I understand completely. 

Okay, now you have opened up yet another can of worms here, you may or may not have an issue for predatory lending (an issue that is not thoroughly covered by this forum or website, but it is a matter that is readily picked up by attorneys).  I know that you are working hard right now to save your home, but if it were me, I'd be checking the statute of limitations and contacting an attorney on this as soon as you can. Since you are in Chapter 13 right now, you more than likely qualify for free legal aid where you reside.  An internet search can tell you quickly which agency would be assigned to you. 

And I have to put in the good ole disclaimer!  This is not legal advice, just some thoughts from a friend trying to help you thru some tuff times. 

Luck and prayers,
Karen
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I finally got a hold of my BK lawyer today and he told me that the reason that the charges are still showing on my account is that Homecomings has not filed a Proof of Claim. When my BK attorney went to court in December it seems Homecomings were asked to provide a proof of claim on the arrears and they have not provided one to the court as of yet.

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