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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arkygirl
Countrywide...who da' thunk it??? "No condition to sell" indeed!

TRIBUNE INVESTIGATION: How fraud led to this property changing hands 3 times as son of owner sat dead inside

The new buyers of a rundown graystone on the South Side showed up Jan. 9 to look at the house they won at a foreclosure auction. They took the plywood off the front door and went inside to make sure the utilities had been shut off. Then they called the police.

Sitting upright in the corner of a bedroom off the kitchen was a human skeleton in a red tracksuit. Next to him lay a dead dog. Neighbors told police the corpse was almost certainly Randy Johnson, a middle-age man who lived alone in the North Kenwood house.

The cause of Johnson's death has not yet been determined, but it is just one of the mysteries about 4578 S. Oakenwald Ave. Somehow, Johnson's house was transferred three times to new owners without anyone noticing he was inside. It's a story involving forged deeds, a corrupt title company and a South Side family that has been under investigation for mortgage fraud.

Left holding the bag is Countrywide Home Loans, the nation's largest mortgage lender and a company whose practices are being scrutinized by the Illinois attorney general's office. Countrywide made mortgages of $450,000 on the property. Now it is likely to lose it all because it financed the sale of a home whose rightful owner was in no condition to sell.

The intrigue surrounding the Oakenwald house offers a glimpse into the strange and murky world of mortgage fraud. Lenders duped into making loans have every incentive to unload the properties, and almost none to blow the whistle on wrongdoers. If borrowers or government watchdogs fail to cry foul, the same home can change hands again and again before anyone is the wiser.

More here:

http://www.chicagotribune.com/news/local/chi-sun_fraud_0224feb24,0,1268253.story



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O -

That's sad...It reminds me of Poor old Mr. Green who died in the home ameriquest stold from him.

CARMA

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4 justice now
The Media strikes again:

What's it going to take to get these people to wake up? It sounds as though they were actually trying to present Countrywide as being the victim (they are left holding the bag). They most likely created the damn bag to begin with.

R,

4J


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arkygirl
It makes me wonder...how did this house get resold three times with no signature?

And how was it appraised?? Seems like one of the appraisers would have noticed the DEAD GUY IN THE CORNER??!!

Fraud, fraud, FRAUD....Countrywide should be sentenced to give the real owner, Mr. Johnson, a proper and decent burial. And Countrywide should have to bury his dog, too! Maybe dump Mozilo into one of the holes while they are at it.

This is theft, people. Blatant theft of someone else's assets by Countrywide. If you take your eyes off your assets for one second, one of these thieves will rush in to seize them. If not a mortgage company a bank or credit card company will be glad to relieve you of the burden of your own property. It is getting outrageous!

Lenders duped into making loans have every incentive to unload the properties, and almost none to blow the whistle on wrongdoers.

This sentence kind of says it all; they just keep churning....


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This article is much more horrid in that the poor decedent was still inside his home.  However,  somewhat similar in that  Litton, Washington Mutual, U. S. Bank, NA and its attorneys did a foreclosure on my deceased relatives home.
 
This article makes me sick too my stomach and also angry in that these people have no respect for the living or the dead.
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I agree with you Lynn. How have you been?
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Thanks for asking!  Like all of us, I'm still battling, fighting,  writing and will continue to do so along as necessary.

By the way, how are things going with you?

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