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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Fed UP
This is an article about "walking away from a home" when faced with foreclosure. 

http://www.npr.org/templates/story/story.php?storyId=18958049 

In my humble opinion, you would not walk away from a home, you would walk away from a building. 

I can see where people would do that.  Before I found Craig Kenney's website, we had actually set ourselves up to do the very same thing. 

We spent a day in a portion of upper Michigan where the housing costs were lower.  We figured we could save enuf for a down payment on a LC between the time of foreclosure and the time of eviction (Michigan is 6 months).  Oh, the junk we looked at! 

Then we found the support and encouragement we needed thru all of the people that eventually came together at this website.  It literally saved our lives! 

But, as the subject says "this is wrong!"  This is WRONG - http://www.youwalkaway.com/  They promise that you can live in your house payment free for up to 8 months.  That you can walk away without owing the mortgage company the difference between what it sells for and what you owed at the time of foreclosure.  For a fee, of course. 

So we have first predatory lending, then mortgaging servicing fraud and now these jerks preying on a very scared America! 
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Stephen

I'm not a jerk and I strongly advocate walking away from predatory, fraudulent loan-traps.  If the government won't protect us from con-artists, we have to take action on our own.

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I walked away from my last house.  After a 3 year battle with the mortgage servicing company.  I did get a 1099 from the mortgage company the next year, but I was not required to pay them anything.  I had filed BK to stop my foreclosure, that is the only reason.  I don't know how that changed with the new BK laws that went in to affect last year.  But after 3 years, and attorneys, I just decided that this was a battle I was weary of fighting.

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This site, and this concept, are both aimed at the last few years of origination issues in conjunction with exploding ARMs and a deteriorating real estate market. Hence, I would venture to say that it has nothing to do with Mortgage Servicing Fraud.

Those of us that have been in this fight for a few years now know that the only way that Mortgage Servicing Fraud is going to be at all contained is with a fight. Case law, legislation, etc. That is the ONLY way that this is going to change. Walking away from a a property that has become involved in Mortgage Servicing Fraud is not going to solve the overall problem meaning that, if/when someone is ever ready to purchase another property a predatory mortgage servicer may very well still be there to deal with.

That said, I fully understand that not everyone has the physical, mental, financial or psychological capacity to take on a fight like Mortgage Servicing Fraud especially if there are children in the family. What MSF does to a family on the whole is absolutely excruciating and, unless children can be successfully and constantly shielded from the legal battles via expert legal and psychological counsel handling the vast majority of the case and keeping it out of the home I'm not sure that it is a fight that a family should contemplate...

Walking away from a property solves just one small portion of the overall problem. But it creates more problems that have far reaching ramifications and absolutely should not be considered lightly.
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FYI
If you really want to hurt the banks, you can live in your home for 5 - 8 years if you properly answer your foreclosure or file a lawsuit and demand certain discovery. Look at what Jack Wright did, he lost his home unfortunately, but was there for over 5 years.

Jack had equity he lost, but those of us who are upside down can instead of moving out of our homes, stay and fight for years and make them eat dirt.
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Fed Up
Mike, you are right that this really has nothing to do with MSF, its a totally different ballgame.  And yes, FYI if you are upside down as so many are these days due to inflated appraisals and if you have 100% LTV then yes you stick it to the mortgagor if you just stay until booted out for months/years. 

Children?  I have 4, my older 2 now 17 and 15, then 12 and 10, were the glue that held me together.  "Don't worry mom, you can do it"  They were and are fabulous girls.  Helping me organize papers, watching the younger 2 so I could research or write a letter.  It effected the whole family and as a family we battled it. 

But my main reason for posting this is we apply for a loan.  We are classified "subprime" so some broker can get his extra percentage.  We pay extra fees not even really realizing what they are, just that they are part of the package. 

Then we are thrown out to the mortgage servicers.  Everthing seems fine for what ?  the first 6 months, if we are lucky a year?  Then they start with the forced placed insurance, even though you have insurance which kick in the BPO, drive by appraisals and whatever else they can think of. 

So to me this is the 3rd tier.  Before we decided to fight, we had sat down at the kitchen table with a guy from "stopforeclosure.com".  I had Mom and Dad there as I was not thinking too clearly.  This guy proposed "sign your house over to me".  He would pay off our mortgage and we would get nothing.  We would have to be out in 1 month.  What would we get?  "Well you won't have a foreclosure on your credit".  I know this is different than the webiste I posted above, where you get to stay for "up to 8 months", but it is for a fee. 

Just a different shark in the water and homeowners are the bait. 

Aggressive legislation is what is needed to stop all of this.  Unfortunately while we, as voters, put our politicians in office, it is the big companies who fund their campaigns.  8 years ago MSF was unheard of.  Today the media is finally picking up on it and I'll have to agree with Dee here, a blitz has not been done in a long time and most likely long overdue, especially since this election year. 
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Please
CRAIG KENNEY SCREWED EVERYONE EXCEPT MAYBE YOU AND HIMSELF.

HE CAME IN ON A WEBSITE THAT WAS ALREADY FORMED BY ANOTHER PERSON AND GOT INFORMATION FROM A LOT OF PEOPLE THAT HE THEN ACTED LIKE IT WAS HIS.
HE USED PEOPLE WHO ARE STILL TO THIS DAY IN THIS FIGHT BUT HE AND HIS FRIEND ARE DOING JUST FINE AND SELLING THE INFORMATION THAT SO MANY GAVE TO HIM BECAUSE THEY BELIEVED IN HIM.

HIS NAME MAKES PEOPLE WHO HAVE BEEN FIGHTING FOR YEARS SICK!!
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