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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Defense to Foreclosure:?

Defense to Foreclosure:  When the holder of a mortgage loan or anyone acting on behalf of the holder initiates a judicial or non-judicial foreclosure, (1) the consumer who has a rescission right under this bill may assert such right as a defense to foreclosure against the holder to forestall foreclosure, or (2) if the rescission right has expired, the consumer may seek actual damages (plus costs) against the creditor, assignee, or securitizer.

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link to the story

http://www.house.gov/apps/list/press/financialsvcs_dem/press110607.shtml

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I have a question that I have been wondering about......how can a company sell your property if you have 12 months right of recession??  Wouldn`t that cause a whole lot of problems? If someone actually purchases the property, can they move right in or does the property have to set empty for the 12 months?  What if after the 12 months you pay everything off?  Who gets the money? The mortgage company that foreclosed or the person that bought the property?

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Joe B
SRSD-

     Please understand that a consummated foreclosure essentially ends any contract between the parties, and with it any right of rescission. As written in your contract, (deed and note), in exchange for the property, you stop paying on the contract.

     Now, if the foreclosure was never completed; i.e. was tied up in court, and you rescinded the mortgage, that is absolutely a remedy available to you!

     Does that make sense? and, more importantly, did I answer your question?

JB
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srsd

Yes.....thanks a lot.

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