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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Bank Accidentally Sells Couple’s Home

POSTED: 8:25 pm MST November 10, 2009
UPDATED: 10:21 am MST November 11, 2009
PHOENIX -- Despite being up-to-date on their modified mortgage payments, a Valley couple found Chase foreclosing on their home.

"You work so hard. Put a lot of money down on your house. You pay your taxes. You pay your mortgage, and it's all stolen from you,” said Jeff Zerner, the homeowner.

He and his wife, Yanthy, found out about the foreclosure when the new owner posted a notice on their door Nov. 4.

“I get this notice that says you have five days to vacate the property,” he said. “So I called the number (on the notice) and I say, ‘Who are you?’ and they say, ‘We're the legal owners of this house. It went up for foreclosure."

Just days before, the Zerners thought their home was safe. They had finished their trial modification with Chase and were led to believe they would qualify for a permanent modification.
“We paid Chase several hundred dollars, which they accepted in good faith,” said Zerner. "I feel extremely ripped off.”

Chase officials admit they made an error by selling the house.

They sent CBS 5 News a statement saying, “We apologize for the confusion over the modification actions and the parallel foreclosure steps Chase takes as a precaution. We have reached out to Ms. Zerner to discuss where we go from here.”

Loan modifications and foreclosures are parallel processes. In the Zerners case, the sides failed to communicate with each other to halt the foreclosure until it was too late.

Banks can buy back homes they’ve sold in foreclosure or rescind the sale.       They can also pay to relocate a family to another home.

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I saw this article and video and shook my head.  Chase used some lame excuse that the two departments didn't know what the other was doing...yeah, right

I bet they didn't want to even admit any mistake was made until the news media got involved.

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The Equitable One

How do you "accidentally" do something as large and complex as foreclose on and  auction a house/home?

There is another thread about a sale taking place while loan mod negotiations are occurring.

I think everything banks do is done in bad faith. Period.

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I am the one whose home was foreclosed on right from under my feet with no notice - other than the very first foreclosure notice I got way back in February when my loan modification began. NACA and I were waiting to hear from Chase as to the status of the revised proposal they were working out. I called NACA for an update last week and we BOTH found out at the same time that it had been sold on November 4.

I am really concerned that this sort of thing can really happen in this country. What is going on? I don't think I have any faith in any government or organized body of people any more.

I think the only way I will feel secure again is to live in a shack that I build myself on some desert island.

It is a dreadful feeling to be sitting in the home I once owned and have to remember that it is now no longer mine. I look around me at all the improvements I did, the fixtures I purchased. I put tons of money into this place thinking it was mine only to have it taken from me through no action of my own.

What puzzles me is how this can happen? What about the title? My name is/was on the title. How can they foreclose with no clear title?

Other than to get an attorney I am at a loss as to what to do. I can publicize all this but is that the best thing to do? A letter to the President? What actions will REALLY get some fast attention?

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Have you contacted the reporter, tv/station that first reported this issue?

Bank Accidentally Sells Couple’s Home

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Ann - Are you referring to me, the one whose home was sold with no notice, or to the original poster?

If me, no. I didn't think about doing that but it might be a very good idea. Mine is a different state, though. I am in Michigan.

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Sometimes we get the most assistance when we think outside of the box. 

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Good idea, Ann. Thanks.

Will talk to attorneys at 8 am tomorrow. Afterwards will contact this reporter.

I am trying to think of what else I can do, too. I feel at such a loss because I am not personally an attorney

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