We're in Colorado and are in the unusual situation of not being in foreclosure. We're both on disability but working part time and paying the bills.
Before 2005, we were flipping houses to make ends meet, but then of course that ended abruptly. Fortunately we were able to find some part time work since then, which has sustained us.
But we put $25k into this house in 2005 and wound up with a BAC first mortgage ( ARM ) and a GMAC second at 9.5%, BOTH of which now appear to be fraudulent. No clear title. Neither of these companies appear to have any legal standing to collect mortgage payments from us, since 2005! In fact, if one looks at the property records for this place and NO mortgage liens are even listed from these companies.
We don't see ANY evidence that either company has filed ANY mortgage on the property.
The outrage comes in, when we realize that because of the fraud allegedly committed by these companies and MERS, we may never see, or get, clear title to our home or be able to legitimately sell it. Not even to mention how under water we are, so we cant refi.
We're terrified that if things hit the fan globally soon, which they likely may, we could see the ARM skyrocket and lose our home!
We're also concerned by the potential fact that these companies may have no legitimate legal standing to even BE collecting mortgage payments from us.
We just don't have the money to fight them, but are wondering if we could find an attorney on contingency, who might even get us our payments all back, because of this, potentially $80k-100k!
In researching all this, I found:
The problem is that we're both disabled and don't have the money to sue them. Have any law firms won any cases like this, in Colorado? Is it possible someone here might help us?