I'm writing to ask you at WCCO to please investigate the occurance of mortgage servicing fraud that is happening in this country. As hundreds of thousands of American's are loosing their homes, we keep hearing the media tell of ARM's and "subprime" as the cause. Dig deeper, you will be astonished at what is to be found. Mortgage servicers fabricating defaults by holding checks past the due date. Once a late is placed on your credit report, your score drops, making it increasingly harder to refinance away from the abuse of the servicer. Other fees are aquired by placing "forced place insurance" and escrows on consumers that chose NOT to escrow. By burying consumers in charges and fees, NOT INTEREST mind you, mainly JUNK fees, people have no choice but to be forclosed on or file bankruptcy and loose their home. Some can afford to fight this longer than others, but the intention on the part of the servicers is to take all the money they can before bringing people to their knees. I had no idea this exsisted until my servicer paid my homeowner's insurance out from under me. My research into what had happened to me uncovered the biggest scandal I think this country may ever see, "will make Enron look like a parking ticket!" says a line on http://www.msfraud.org
PLEASE, PLEASE look into this story. Whoever breaks this wide open is going to make history - and I assure you I don't make that claim lightly. Look at:
http://www.ripoffreport.com - search "Litton Loan Servicing"
Contact http://www.maxgardnerlaw.com/ as he is supposed to be an emerging expert on this topic.
Search Litton Loan Servicing at the Better Business Bureau and the Federal Trade Commission. Litton is not the only servicer that is engaging in these crimes, but it's the one I am the most familiar with as they took over servicing our mortgage 1 1/2 years ago as Countrywide had begun foreclosure on us. Buried in fees we turned to Chapter 13 as the solution for relief and to save our home. Now, half way into our repayment plan, we've caught Litton paying our insurance and taxes without our consent or prior knowledge. After my research showed the extent of the fraud happening, we are choosing to convert to Chapter 7 and give up the fight over the house as we are fighting against someone with unlimited resources to get as much money as we can afford to pay and ultimately the house in the end anyway. However, we will be pursuing litigation for the fraud we've uncovered in our situation.
If you look, you will find HUNDREDS and HUNDREDS of stories like I am telling you. This story MUST be brought to light. My husband and I were NOT "subprime" - although we certainly are now! We did not buy more house than we could afford. Our ARM didn't kick in until earlier this year, long after we were loaded up with fees and charges and driven into bankruptcy. ARM and subprime are not the real story. The REAL story is the mortgage scandal that involves fraud at every level of the purchase and manufactured foreclosures. This has to be told.