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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Ed Cage
Today on the front page of the Dallas Morning News
http://ushomeauction.com/
 
Here's 150+ foreclosed homes to be auctioned and sold in my area.
(Dallas / Fort Worth Plano):
http://ushomeauction.com/auction_details.php?auctionID=H-013&chkVenue[]=54&search=1
 
Submitted by
Ed Cage
1804 Cross Bend, Plano Texas 75023
972-596-4363
ecagetx@tx.rr.com

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http://www.ushomeauction.com/financing-information.php

Take a second and see who's offering on-site financing for these auctions. One of these just went through Boston in the last week or two...
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Joe B
Mike-

      I read about the one that went around another city recently, and it also sounds like they have some plants in the audience to drive up the prices. Then, they shove you off to get quickly approved by one of the more notorious mortgage companies, as you pointed out!! Then, in 6 - 12 more months, they can recycle half of these again!

      No, it's all just a strange and unusual coincidence...

JB
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What is sad is none of this needed to happen if the lenders had made loans designed to be repaid rather than designed to fail.

It's doubly sad these foreclosures create domino effect in the economy, and everyone gets hurt.

I know Texans still have that remember the Alamo spirit will bring  the crooks
that attacked the homes and lives of the innocent Texans in an unprovoked attack.

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Ed Cage
Joe B wrote:
“I read about the one that went around another city recently, and it also sounds like they have some plants in the audience to drive up the prices. Then, they shove you off to get quickly approved by one of the more notorious mortgage companies, as you pointed out!! Then, in 6 - 12 more months, they can recycle half of these again!
No, it's all just a strange and unusual coincidence...       JB”

Joe I feel certain you’re right about the *plants*  But to be honest it never even occurred to me about the mortgage fraud scoundrels hovering around incognito under new names waiting for a fresh set of victims..  But this mortgage industry is so fraught with criminals with no conscience; I strongly suspect you’re right on that point as well!

Ed Cage
1804 Cross Bend, Plano Texas 75023
972-596-4363
ecagetx@tx.rr.com

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~beenawhile
There was another story posted on this site a week or two ago.
It is sad, and makes me sick to no end. There was more discussion on that thread so here is the link:
http://www.websitetoolbox.com/tool/post/ssgoldstar/vpost?id=2285947
posted on:
Old post 11/11/07 at 06:22 PM Reply #3

I'm almost speechless.
More victims.
1. they don't know How to research the real value of a home.
2. they are told how much the value of the home is by the Servicer, therefore, they believe them. bwahahahhah.

3. they are being fleeced by the servicers even before They get their foot in the front door.

4. there are probably people there from the mentioned Wells fargo, EMC, and Countrywide Sitting in the crowd "pretending" to be bidders, to drive the prices higher.

5. Now the Servicers get to sell the properties at an undisclosed price.
see below.
QUOTE=Briggs]

Bidding on some houses opened as low as $1,000, for 623 square feet in Bourne "with lots of character," for example. But there's an important caveat: The winning bid isn't binding unless it exceeds an undisclosed threshold set by the seller.

6. Now the victim that was foreclosed upon, will never know how much their home sold for.

so they can
7. Never try to recoupe a "PROFIT" from their home.

and the list goes on, but dinner is ready.

I'm soooooooooo infuriated I could F. scream.~~~~~~~~~~!

http://www.websitetoolbox.com/tool/post/ssgoldstar/vpost?id=2285947


BTW srsd, the screaming at 12:00 didn't help much, but it was worth a try
Hope you got some comfort from released tensions!
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I read these almost every day now, and see on TV the "Make Money on Forclosues" being advertised nearly ten times a day.
 
I just hope, that people realize that families, and people lived in these homes, built these homes, and beleived they were safe from the Manufactured Forclosures from companies like Litton Loan, CBASS, and from the corruption from thier parent complaines allowed, MGIC and RADIAN, I can only hope and pray the "Market" punish's them enough.  And for the dispiciable people like Larry Litton and his son JR, they in the end find the same fate occuring to them as these people, families, and Americans that were there Terrorist victims.
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