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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Here's a brief summary of what's happened so far:

Feb 2009 - started loan mod with Chase with help from NACA
August/Sept - initial proposal received from Chase; escrow was incorrect; asked NACA to ask Chase to correct it; NACA informed Chase of requested change.
Beg Nov 2009 - Chase sold my home with NO notice to either me or NACA.

Prior to the sale there were two previous adjourned foreclosure dates way back in Feb/Mar. NACA notified me of each one and asked me to call Chase to postpone it which I did.

Nov 2009 - I hired an attorney. He has sent out a QWR to Chase and they have not responded. Now he is getting my credit report to see how they are reporting. After this stage he will start the lawsuit. However, he told me that of every case he has had with Chase he has won the suit - except this is the first one he has had where the home was sold to a third party.

This attorney was recommended by someone online but I have not worked with him before so I don't know how good he is.

Chase sold my home to an investor and, although I was upside down, I want it back - or a suitable settlement so I can buy another home.

NACA seems to have dropped the ball since the foreclosure. I have talked to Jason Wheeler who heads up the auction department at length and he was supposed to contact Chase to get it back. So far nothing has happened.

I am at my wits end. Time is moving on and I feel I should be doing something. But what?

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arkygirl
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Chase sold my home to an investor


Did Chase tell you they sold your home to an investor or did your attorney find this out? Does Chase still hold a mortgage on the house or did the investor pay in full? (If Chase no longer holds a lien it probably does no good to send them a QWR.)

Have you been to the courthouse to see what has been filed in public record concerning your property?

Here is the link to MI assignment law.  Has Chase complied with the law in its recordings? To the courthouse with you ASAP on a very fast horse.

http://realestate.uslegal.com/mortgage-satisfaction/michigan-assignment-and-satisfaction-of-mortgage-law/


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I found out when the property investor left a business card tucked in my door. Otherwise, I wouldn't have known it was sold. When I found the card, I contacted NACA and they contacted Chase and, yes, it was sold. Other than that, I have no details of the purchase.
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Thanks for posting that link. Unfortunately, it's all Greek to me.

I don't know if the  investor bought it outright but I would think that, being investors, they probably did, which means there's no lien. Will the documents at the courthouse tell me more?

If there is no lien, does this mean I am up the creek as far as chances of keeping my home? What about the chances of Chase putting me in another home?

Unfortunately, I do not have the 25K to buy it back - that's the amount the investor bought it for.

Heck, if they can sell it to an investor for that amount, why didn't Chase turn to me first and say, okay, we will reduce your mortgage to 25K and let me keep it! That's a joke, I know!

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Margaret
I don't know a lot, but what I do know is that 25,000 was icing on the cake.

The promise of modification sometimes can blind you from the truth, giving them ample time to steal your home without a fight.

http://www.zillow.com/blog/mortgage/2009/12/02/the-real-reason-your-lender-wont-modify-your-loan/
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I'm somewhat confused by "sold your house".  Are you saying that Chase sold their ownership interest in the house to another investment company?  Or did they auction your home at a foreclosure sale?  If its a foreclosure you will be evicted and technically its not your house anymore.  If it was a sale to a new investment group then you need to start the process over with the new lienholder.  I'd like to hear more of your story and I truly hope the best for you in these trying times.
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They auctioned it off at a foreclosure sale  - a sale neither I nor NACA was aware of.
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Early next week I am taking a day off work to go down town to get copies of the documents in my file at the courthouse. I believe, from past experience, I have to make the copies myself.

Now . . . if there is a document missing that should be there, how will that stand up in court when the opposing party could turn around and say, "Oh, it was filed . . . you must have forgotten to make a copy."!

The banks are up to every trick in the book so what is to stop them disputing all the documents I or my attorney may produce in court?

When I have copies, I will give one to my attorney.

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arkygirl
Keep your copies in the same order as the originals. Stack them up side by side and ask the clerk to go through them and verify that you have copied every paper in the file just as it has been filed.

Make a note on a clean sheet of paper to the effect that "I have checked [YOUR NAME] copies and verify that these copies are identical to those filed in public record. Nothing has been added or taken away." You can type this on your computer and take it with you.

Ask the clerk to sign that verification. Done.

The clerk may think you a bit odd to ask this, but who cares at this point, yes?

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Arky, most county clerk offices charge for copies, albeit at about 25 cents a page, where in as you get a receipt for copies rendered on that date for your information/copies requested, they also will charge an additional fee for a "certification" of obtained copies and then put/ emboss  the seal of the county clerk on the documents. At least this is how it is done in NY. Not knowing all state laws, but would assume that this is a standard procedure. 

Undoubtedly for some even 25 cents a page is a stretch during these stressful times, but so many people are swimming in the abyss alone, that they do not ask or even know to ask about simple procedures/law's in their county clerk's office. 

So many are doing this for the first time in their lives and under extreme duress, either way it is my understanding that each and every county clerk has a "SEAL" which documents are stamped/certified with, including deed's, mortgages etc. 

 IMO it is imperative to obtain a receipt, and have the seal of the County Clerk on any records obtained, even if it cost,s a few extra dollars!
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Thank you! I will do exactly that!

I am so angry tonight! I just want Chase to FRY!!!!!!!!!!!!!!!!!!

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arkygirl
pj, of course you are going to pay for copies and get receipts. Why would you think otherwise?

There is nothing wrong with asking for a signature and a seal to verify that the copies made and taken by the borrower exactly match what is on file in the public record, that nothing was added or omitted.

It is one more sheet of paper. That piece of paper may also be entered into the file as public record while the copy of the voucher goes with the borrower. That way there is verification that the records match exactly up to that date. There have been cases in the past when public record has been mysteriously altered with after the fact replacements of paperwork. These servicers and their "law firms" can be crafty.

Yes, it gets expensive. It is still cheaper than losing a home. It is all relative. A dedicated person can give up something over a week or two to find the cash. It is basic but essential.

In fact, checking public record should be one of the first things done by anyone threatened with foreclosure. Random checks should be done throughout the foreclosure process to keep tabs on what is going on.

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Sara
Beside Myself:  I am so sorry to hear this happened to you! 

When I was researching foreclosure auctions (in my own state) I came across some interesting things.  I am sure this happens everywhere and not just here.

I found that the same names appearing as buyers of properties were only buying homes that were foreclosures of certain banks or mortgage companies.  Simply glancing, you would think it's a individual or investor but when you see the same name reappear several times and start researching who supposedly granted the loan, it clicks. 

So, look the name up on other foreclosure auctions and then trace it back through the public records to see who the mortgagor was.  You might find your answer there...don't be surprised by the result.

S




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Hey not disputing your approach to things. In NY one can get an embossed seal on documents, that would hold up in a court of law if documents are altered after the facts.
My point here is that so many people under duress do not even think to ask the simple procedures due them by law.

I also concur that even before any action each and every individual should be researching county records and making obtaining/certified documents, and doing sporadic checks there after. Since Fannie, if they own your loan has instructed "servicer's" to implement the "default calculator" on mortgage holders to determine who is at risk to default, even if you are not in default as of yet. Call me nuts but if after review they determine you are a risk they will be focusing on setting those loans for speedy foreclosure.

Also IMO is is worth going on the MERS web page and researching if the loan is registered with them. Its a simple yes or no. Print the page, date & time of inquiry will show and then e-mail the page to yourself as back up, download and print. One can do this on Fannie & Freddie web pages as well. If it is determined that neither entity has an interest in your loan then they appear in the foreclosure actions, one can prove document alterations after the fact.

Just my opinion.


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"When I was researching foreclosure auctions (in my own state) I came across some interesting things.  I am sure this happens everywhere and not just here.

I found that the same names appearing as buyers of properties were only buying homes that were foreclosures of certain banks or mortgage companies.  Simply glancing, you would think it's a individual or investor but when you see the same name reappear several times and start researching who supposedly granted the loan, it clicks. 

So, look the name up on other foreclosure auctions and then trace it back through the public records to see who the mortgagor was.  You might find your answer there...don't be surprised by the result. "


How do I look up other foreclosure auctions to trace back the names?

I know exactly what you are talking about and I have thought the very same thing. Like a conspiracy theory!
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1 - Related to Sara's message above, how do I look up the name in other f/c auctions? Where do I go to do this and what documents do I look for?

2 - This week I am going down to the courthouse to copy my file. Once I have the copies, what do I look for? Should I simply send them directly to my attorney? Keep in mind I am a novice at this but I am willing to do whatever legwork I can.

3 - What else can I do to save my home and get the bank to rescind the sale from the investor (the new owner)?

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I just went into my county's online records system and found the sheriff's deed for the foreclosure of my home.

Is it still worth going to the courthouse tomorrow to get a copy of my file?

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I am really, really angry.

I decided to revisit my NACA webfile today. I see they have added a messages section where you can see all correspondence to them from the servicers, etc.

There is a message from the servicer to NACA dated eight days before my foreclosure date last year that shows the servicer requesting more information and stating they need it immediately as they cannot hold up the f/c date. This was NEVER relayed to me either by the servicer or NACA.

I lost my home a week later and when I called NACA, even talking to Jason Wheeler, they told me they knew nothing about an upcoming f/c date.

Great! They drop the ball and I lose my home!

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I believe that if the Homeowner has enough evidences that the sale of his house at the auction or the foreclosure sale judgment  is not conducted according to the law; he can hire an attorney to file a Motion to Void the sale and the Sheriff Deed to get the house back. Please consult with attorneys in your area. Best wished

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pj

Here in Michigan in my county they charge $1 a page. I have no idea how many pages I will be copying, whether it's 6 or 60!

They also charge another $5 - just for the fun of it!

Shocking!

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I know this sounds ridiculous. I haven't figured it out totally yet - hence, my question.

As I mentioned before my home was bought by an investor. On the surface, though, it doesn't appear that it is an investor. The investor takes the disguise of an IT consulting group. (I realized this when I found out my home had been sold and did some research when I first found the business card of the investor in my doorway.)

I decided this evening to see what other f/cs these creeps had been buying up so I went to the county online real estate records this evening. I found quite a few homes that they had snapped up BUT over all the homes, they used three or four different names (or name variations) so it looks like different entities buying the homes - but if you do the research, they all lead back to the same entity - the same property investor.

Why would they do that?

I wanted to see if they were all properties from the same bank (my bank) but the records do not show the name of the bank

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Besides "yourself". First off a $1.00 a page seems a bit outrageous, but in many places this is applicable by law, alibet punitive, believe it or not. 

You mentioned that the "investor" card had an IT consulting group, perhaps you can share this with everyone and there can be further assistance in your matter.





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Before you put all trust in what your lawyer says he or she has done, look at these three documents: Evidence of Sale, Sheriff's Deed, and Non Military Affidavit.  A possible winfall can occur regardless of the property being sold and if no one other than a lawyer was available for confrontation

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Thurman - I went to see a new attorney on another matter. Boy, is he ever SHARP! He asked me to pull the sheriff's deed and recorded mortgage from my file at the courthouse and send them to him. I will also get the evidence of sale, but what is the Non-Military Affidavit?

I was going to go to the courthouse at the end of last week but went to see this new attorney instead.

He also said that the attorney handling the foreclosure should file a certain document in the court and I can't remember what it is called. It is a document that questions the validity of the foreclosure and the name of it begins with the word "Declaratory". Does anyone know what it is called? I want to ask the attorney if he has done this.

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