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.
Articles |The FORUM |Law Library |Videos | Fraudsters & Co. |File Complaints |How they STEAL |Search MSFraud |Contact Us
Melissa2012B
What's going on in Colorado?

We're not in foreclosure, but are nervous about the prospect of global economic collapse, and that our ARM rate ( based on LIBOR ) may go sky high if that happens. Our two loans are sub-prime from 2005 - one was serviced by BAC and the other by GMAC, though the first mortgage has been gang banged even more since and just went to Capital One, I think.

So we think we have a right to know if someone even has wet ink title and if anyone has standing to collect payments from us. That's reasonable, isn't it?

We live in Jefferson County and went to the recorder's office and they can't tell us anything decisive, and we don't know what we're doing.

We've contacted attorneys and they send us stupid form letters saying they can't help us!

Don't we have a right to know these things? I mean, what if no one has proper legal standing to be collecting mortgage payments from us?

Quote 0 0
bwssr
Keep looking. I went thru the same thing trying to find a good lawyer. Most of the lawyers basically told me to give up and let the bank have the house. They probably were divorce lawyers and ambulance chasers. 
They get a bailout and we get the boot.
Quote 0 0
Unregistered
You should have a rainy day fund for just scenarios. 
Plus there's nothing to stop the bank from foreclosing whether you're current or
in default. The laws are on their side.
http://4closurefraud.org/2012/02/15/trashed-out-chase-safeguard-properties-clean-out-house-family-heirlooms-gone-from-home-with-no-mortgage-video/

Then there is this.
http://4closurefraud.org/2012/02/15/fraudclosure-wrongful-foreclosure-fraud-and-deceit-all-allegations-at-the-center-of-a-lawsuit-against-jpmorgan-chase-video/

Quote 0 0
Melissa2012B
Well, again, we're not in foreclosure, but we don't have the money for a lawyer either. I'd LOVE to find one that could fight for clear title, succeed, and then we could pay them out of the money we'd normally be paying the false mortgage companies, but that would have to be a contingency arrangement and they'd have to be sure they could win!
Quote 0 0
Chuck

Quote:
So we think we have a right to know if someone even has wet ink title and if anyone has standing to collect payments from us. That's reasonable, isn't it? 
 

 

No.  That is not reasonable.  You already waived your right to know this within the instrument.

 

Re-read your note.  Focus on the provision that states that you waive presentment.  This means you waive any right to require that the lender show you the note in order to be entitled to monthly payments.

 

You pay the lender at the address given in the instrument or by a subsequent notice.  You keep a record of the payments.  As long as you pay, you are current.  When you fail to pay, you are in default.  It is as simple as that.

 

If two lenders both show up demanding payment, then you can go to court to seek a declaratory judgment about who to pay.  In the interim, you should make full monthly payments directly to the court into escrow.  But as a practical matter, this NEVER HAPPENS.

 

*

 

It appears that you have been deceived by the perpetrators of one of many debt elimination scams.  These folks would have you believe that if only you pay them your money they can help you to evade your responsibilities under the note and to obtain a free house.

 

NEVER CONFUSE THE VIABILITY OF A GOOD STANDING DEFENSE WITH THE REALITY THAT THERE EXISTS AN ORIGINAL NOTE WITH A "WET INK" SIGNATURE.

 

Anyone telling you otherwise is a swindler or a victim of a swindler. 

 

(I suspect that your thread is being ignored because everyone is bored with having to repeat this refrain over and over again as new fools appear at the Forum spouting this same nonsense.)

Quote 0 0
Bill
Melissa2012B wrote:
Well, again, we're not in foreclosure, but we don't have the money for a lawyer either. I'd LOVE to find one that could fight for clear title, succeed, and then we could pay them out of the money we'd normally be paying the false mortgage companies, but that would have to be a contingency arrangement and they'd have to be sure they could win!

As Chuck posted this is a scam.  What grounds do you have to "fight" for quiet title?  When homeowners fall victim to these swindlers and tries to get a quiet title one of 2 things happen.  

1.  They do NOT use proper service (one part of a lot of scams).  While the homeowner "wins" a default judgment, this is NOT binding on the owner/holder and is VOID.  It may take a little while for the owner/holder to figure out what you did because you never served them properly.  When you stop paying them based on a VOID judgment they will quickly sell your home (non-judicial) because you are probably going to ignore their notices (you THINK you quieted the title).  

2.  The owner/holder shows up in court, you lose, and you are responsible for THOUSANDS of dollars in attorney fees for the bank.  You certainly will find out who can enforce your note and is entitled to the payments.  It is just going to cost you several THOUSAND dollars in addition to any cost you pay to bring the action. 

Most attorneys KNOW this.  This is why you will have a very difficult time finding an attorney willing to take your suggested action.  This is where swindlers like Mike H. step in and offer to "help" you bring the action for a fee.  

Of course, if you look hard enough you will find an attorney that will file ANYTHING if you pay them enough.  In this case, you will be out his fee plus the costs of the bank defending the action.  

What a lot of the swindlers fail to tell homeowners is that a quiet title action does NOT wipe the note.  Even IF you did have a clear title, you would still owe the money on the note and they most likely could get a judgment then garnish your wages and find other ways to get their money.  

There is NO such thing as a free house.  

Quote:
We've contacted attorneys and they send us stupid form letters saying they can't help us!


There is a reason why.
Quote 0 0
Write a reply...