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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Digger
This makes me sick.  I just spoke to a friend in Chicago who had his house stolen today on the courthouse steps. Nobody was there to bid except MERS

The homeowner proved in documents filed with the court that he was never in default and proved through an independent auditor/CPA that GMAC owes him thousands of dollars in over-payments.

GMAC also blatantly and repeatedly REFUSED to prove they owned the house, and this judge went along with it..

Because he lost his family, computer and Internet over this ordeal, he asked if I would post this question to you all:

Why did MERS bid ~ $32,000.00 higher than the balance of the note, inclusive of all costs associated with the foreclosure?  MERS or GMAC now owes him $32,000.00 + his overage.

Thanks for your help.
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Nye Lavalle
Depends... probably had costs and legal fees tacked on and they need to pass these on to the insurer which could be us, the taxpayer via FHA or VA loan!
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KICKBACK
One word.......K I C K B A C K
That 32k is going to line someone's pocket, maybe even the judge
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Bishop
The same thing goes on in Illinois courts all the time....despite incontrovertible evidence that indicates that no default had occured, courts enter judgments in favor of the plaintiff. This happened to Illinois individuals known personally to me.

In fact, it appears that Illinois law does not permit MERS to collect on the note since they probably failed to prove an actual authority from the holder of the note to have filed the complaint.

Illinois courts are consistently ignoring the limitations imposed upon them by the Rules of Evidence as well as limitations imposed by the lack of standing doctrine or the lack of authority doctrine.

Digger, please feel free to post his identity on the forum for my contact to assist him in any way that I can.
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