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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We was foreclosed on on Oct 25th 2007.  I thought that meant that the company that foreclosed on us owned the property.  Today we got a letter from the county tax collector that our house was "sold" because we didn`t pay the land tax in Dec.  I don`t know why we would get the letter since the company was the owner as of Oct.  We have an appointment to see a lawyer but it is not until July and I am just so curious about this.  when I can, I am going to find out who has the title to the property.  We was told be 2 local lawyers (not in the same firm)that nobody can get a clear title on the property. Has anyone else had to deal with anything likethis??

p.s.   Thank you all for the e-mails when I broke my legs.  I am going back to the ortho July 1 and I hope I will be able to get around some. 
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Look again at what you received.  I suspect it says your property was sold at a tax sale.  This is where the other bunch of bottom-feeders go to work.  They pay the county the taxes due on the property then the county gives them a certificate.  The certificate allows the holder (the bottom feeders) to foreclose on the property.


If you catch the problem before the foreclosure you need to pay the holder the taxes (which is fair) but you also have to pay their fees.  The fees can be $3,000.00 or more for a tax sale of a few hundred dollars.


If they sell the property at public auction, the property is theirs in most jurisdictions.  In a normal foreclosure, what ever is left over (the excess from the sale) is supposed to go to the property owner, but not when it is a property tax auction.  Depending on your county, the foreclosure sale can be months or years after it is sold at a tax sale.


When you see the late night “Get Rich in Real Estate” info commercials, they are talking about the money to be made in tax sales.


Servicers have a pretty sophisticated system of keeping track of tax sales so that when one comes up they jump in and pay the taxes so they don’t loose their collateral securing the loan.  Most pooling and servicing agreements make the top two most important requirements for a servicer is to be sure the taxes and insurance is paid.  This is why most sun-prime loans do not have an escrow account.  Not having escrow keeps two doors open for default and the fees that go along with it.


Hope this helps

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That might be breach of contract for the servicer or you. Might want to reread your contract. I would think that a tax sale would come a year or more after not paying taxes.

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Thanks you guys.   That is exactly what is sale.  I just don`t understand why they would involve us since the house was foreclosed on in Oct.  It looks like it would be between the servicer and who ever bought the property.  I am trying to get everything together for the attorney.  As soon as I can, I am going to the court house and get copies of everything that I can find.  I have already done this once but now I want to see the up to date copies.There has been so many foreclosures in our county it is terrible.  BHam is 50 miles from us and that city is going after the servicers because of the illegal things that has been done to their residents.  It looks like all of the cities would form a legal task force and go after the crooks.

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