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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Folks,

Do not waste your money hiring a lawyer and going after the scam artists of the housing debachle.  First off there will be no money to collect if you win.  Not a dime will be paid.  First will come the battle of  appeal then they will eventually all file bankruptcy.  People we are looking at a collapse here.  The money is gone packaged and sold as AAA and Aaa Ratings and now some of the banks have halted loans and money connected to them despite the ratings.  This is all fools gold.   You can win and lose at the same time.  Win the case but no rewards.

Those that won early on are long gone they took the money and ran.


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There are times when I feel this way too.

However, not being prescient myself, I can only hazard a guess how this turns out eventually.

Let's face it.  Americans are not predisposed to accept having their houses stolen by big business commiting fraud.  There's enough evidence already
to sink a battle ship and yet not a one gets prosecuted correctly to admit
wrongdoing and go to jail for ruining people's lives with a scam.

Maybe you are right that the only benefit to fighting them tooth and toenail
is to hammer another nail in their coffin. 

Forcing them out of business protects borrowers in the future.  Oh yeah, but what they do is open another business with another name and continue with business as usual.  Mergers and acquisions.  Who can keep up with that end of the business?

When these corps file bankruptcy, go after the officers and force them to divest themselves of their personal wealth including but not limited to
their homes and all other assets.

Corporate officers usually have insurance against being sued personally.
The carrier will pay for their defense and any award arising from that kind of law suit.

Problem for these corporate officers is that they cannot be insured for a criminal act.  Fraud is still a criminal offense.

Our problem is we have no one with cajones to call fraud, fraud.  Instead
they use other words that mean fraud.

Main Entry: fraud
Function: noun
Pronunciation: 'fro d
Etymology: Middle English fraude, from Middle French, from Latin fraud-, fraus
1 a : DECEIT , TRICKERY ; specifically : intentional perversion of truth in order to induce another to part with something of value or to surrender a legal right b : an act of deceiving or misrepresenting : TRICK
2 a : a person who is not what he or she pretends to be : IMPOSTOR ; also : one who defrauds : CHEAT b : one that is not what it seems or is represented to be
synonym see DECEPTION , IMPOSTURE


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arkygirl
No one here should attempt to hire lawyers and sue the entire industry; that would be like trying to gather cockroaches in the dark.

Everyone here should fight like hell to get their own personal mortgage straightened out, with or without a lawyer. Fight for themselves and their families, whatever it takes. If they can get monetary damages, fine. If not, maybe it would be enough to just get their lives back and their payments credited on time and properly.

Money is not always the ultimate goal (unless you are a mortgage servicer, lol). Forcing the servicers to perform their duties properly, regaining some human dignity as individuals, and relieving stress is important to everyone here.

Any case brought against this vermin further sheds light on their practices and exposes them as crooks. Cockroaches scurry from the light. Eventually they will have to perform as promised or be prosecuted by the big dogs. We cannot stop and allow them to remain hidden!
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Stephen

The management has fled with the money.  They will use the bankruptcy courts to keep it, even with the 90-day rule.  No, there are no consumer protections.  It's more like Mexico.  You're either a corrupt official, a druglord or you get the hell out.

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4 justice now
Stephen is right, the CEOs, upper management, etc have already sold all their company stock, and will most likely keep all their ill gotten gains. There has to be another way that they can be punished for the crimes they have committed. Time for some creative thinking here.

JMO.

4J
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Ohio
I personally don't give a damn about the money.

Not only did they take my money and try to steal my home ....they messed with the only thing I can take to my grave...my reputation.

I WILL fight them "tooth and toenail" for that.

If American soldiers can die for my rights the least I can do is exercise them and raise bloody hell on whoever attempts to take them away.

I know it's hard to be optimistic and while I agree with most of what has been said, defeatist posts such as this can be damaging. If it causes just one person to give up then the whole purpose of this site is in vain.

If that happens we are giving the greedy bastards what they want. 

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srsd

Ohio,  You make me want to stand and cheer!!!

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Actually the best thing would be to have them all prosecuted and put in jail and not for 30 days either.  There are just too many scams out there and no one seems to care.
They say they can not fix ID theft did you know that only a handful are prosecuted the banks dont want to bother.  I had over 800 stolen from me and they did nothing but investigate and return the money.  I hope you also know there is a credit bubble and a stock market bubble.

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