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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From what I can understand from reading news articles, there is suppose to be some help for the victims but here is how it works:

Good credit---how many has that after being with a crooked mortgage company? Ruined by payments posted late.

Payments sent in on time---Why does that matter if they are posted late?  I know sometimes things get lost in the mail but not for 12 months in a row.

Income to show you can make your payments----should the mortgage companies have given a mortgage without finding this out?  Oh yeah...they make that up if needed.

Modified loans--can`t do that because of screwed up credit, late payments, and not enough income.

How many can actually get help?  Nobody that really needs it. I guess we will have millions of homeless people.

This problem looks like it would be so simple to solve.....make the companies take every penny of the mortgage interest off, give people back their homes, and put them jail for a long time(not the club med kind).  I am sure a lot of people would be able and willing to pay their mortgage under these conditions.

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That's why I laugh when I hear all this hoopla about various AG's, Senators etc.,  urging banks to rewrite ARMS to fixed rate loans.

It won't work because of precisely everything posted above.

When it fails guess who will get the blame....YOU and ME because WE have the $hitty credit. Once again the finger of blame will be leveled at us and the banks and servicers will look like the helpless heros who tried to help but of course couldn't.
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Couldn't  agree with both of you more. These servicers keep you in arrears so what hope do we have? The big picture is the lies that these servicers tell. Why does anyone believe them?

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