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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Philip S.

Foreclosed On Homeowner Wanted Cops To Kill Him
By twist
Every time I see one of these stories it breaks my heart.  How sad that anyone thinks that life isn’t worth living after losing a home.
Kurt Aho’s home was sold at a foreclosure auction on Tuesday.  When the new owners came by and asked him when he was going to vacate, he shot out their tires.  He had a beer with a neighbor right before the police came:
Jeffrey Hobson said he shared a final beer with Aho moments before the confrontation. He said he worried when Aho told him he wanted to die.
“He said, ‘When the cops get here either I’m gonna die by them or I’m gonna kill myself,’?” said Hobson. “They gave him exactly what he wanted.”
Neighbors who witnessed the incident around 4:30 p.m. said Aho paced the cul-de-sac with gun in hand after chasing away the new owners. As officers ordered him to drop his weapon, the self-employed contractor ignored them, walking back to his home to fetch fresh beers.
Officers first shot Aho with rubber bullets, hitting him in the arm. Aho then fired twice at officers, striking the SWAT team’s armored vehicle with one shot, according to James Holmes, a Phoenix police spokesman.
Aho, who suffered from recurring bouts of cancer and was having a hard time finding work told neighbors he had nothing left to live for. 
L checked on the financing of Aho’s home and discovered that Aho refinanced in 2005 for $99,000.  In 2007 he took out a $176,000 HELOC.  L is a big advocate of people being responsible for their actions and not just blaming the lenders.  He did however have this comment:
Maybe the people who loaned him $176,000 on top of the $99,000 should be a little responsible as well as himself. What were they doing lending him that much against a house that wasn’t worth but $99,000 ?
Good question.

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Answer to that is simple and has been elucidated many times in the media and testimony before congressional officials:

Mortgage brokers bombarded the public with claims of "Interest rates are at an all-time low, lower your monthly payments now", then once they get them in the office they lie to them about the loan they are getting, have their pet appraiser over-appraise the property, convince the borrower that there is no risk because property values are skyrocketing, low-ball the GFE, then stuff all kinds of bogus fees into the loan at the last minute, then alter the terms of the loan after the fact.

The guy is an innocent victim, like the rest of the world, a victim of a real estate industry in anarchy, blessed by the government and overseen by noone.  Brokers are going to prison in droves now as the FBI and many mortgage fraud task forces are taking the industry to task with the help of TARP funds.

Too late for this guy, but he is an example of the only defense the public has against predatory mortgage people.  I wish he'd shot the mortgage broker first.
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