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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Contrary to popular belief, lenders do not want to foreclose, the expense outweighs the benefit of foreclosing and lenders are not in the real estate business.

I SEE this statement in so many places!  It is making me crazy.  The guy I am working with from the Division of Banks said the same thing....  

I understand how this could be true in some cases, but as I explained to the division of banks.... my house was a 2 bedroom 900 square foot house in very bad unfinished condition when I "bought" it in 2004, and in the last 6 months it has become a 3 bedroom 2 bath 2,000 square foot house.... The money I owe is 1/3 of what it is worth HOW WILL THEY LOSE?

 
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Aimee
Whatever! Don't believe them. We lost $80K to $100K with the mortgage company saying over and over again that they did not want out house.
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And when you listen politely to that crapolla, you can then ask
"where's the proof?"

They are just repeating what Mozila and others say.  They don't have any facts or proof to look at.  Mozila and others wouldn't let anyone look at their records without a subpena.  Don't forget Larry says this all the time.

I've got my proof.

They've got Nothing.

You'd think if that statement were true, they'd be citing all kinds of studies
they've commissioned?  It would help them, so why isn't there proof?

Their days are numbered for running the scams.

Where's the proof is quite a good retort to use. 

We know the truth from borrowers that have been fleeced.  Is there any
question that the foreclosures that are being manufactured with out any
need to provide proof that the borrower is actually in default and the
foreclosure specialists are also indulging in mortgage servicing fraud?

They don't lose any money on those cases for sure.  Where does the money
go?  Who collects insurance on the defaulted loan?  Who owns the loan?

That money goes straight up the corporate ladder and pays for lots of things like millions of dollars in bonus' or the money can be used to pay dividends
anything they want to use it for.

Dee
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Stephen

If they didn't want to, they wouldn't.

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