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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Hi All,
Have a crazy and long question. My county recorder's office docs state that we are on the deed of trust... and listed as borrower's along with our son. We did sign these papers..... however... we are not listed on the loan and the servicer has been telling us for 7 years we are not on the loan. How do I find out who actually signed the promissary note.  And I guess my next question is... if we weren't on the loan ( supposed to be only in son's name ) how did we get on deed of trust?  any help wouold be appreciated.
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Texas gal,

To venture a guess, your son likely signed the note and deed of trust (called the mortgage in some states) and you and your husband signed only the deed of trust, which usually pledges all of your rights to the property if your son does not pay the note as agreed and foreclosure is completed.

The good thing for you is if he doesn't pay, then your credit is not affected. Keep in mind that the mortgage does obligate the signers to pay home insurance and taxes. I'm not a lawyer and I am not offering legal advice, but I think you might be held liable for those expenses, if he stopped paying them. 

In short, the deed of trust can be recorded in multiple parties' name, but the lender requires any party not obligated for the debt to agree in advance to give up rights to the property in the event of foreclosure.

You might be able to get a copy of the signed note and deed of trust from the closing agent.

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Thank you for your great response.... So here's my next question..... He is not paying... never has... we always have....and are now very behind on our payments. While we all realize this will probably go to foreclosure... The question comes to my mind... since we are on the deed... do we have a chance to keep the house.... And... let me add on a final note... after all of my researching.... there seems to be alot of fraud signs.... notaries, agents, etc

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Have you been served? Although the obligation for the debt might be on your son, you and your husband will be sued and must be served as well. If you haven't been served, try to relax until you are served. Once you have been served, the complaint must be answered in the time allowed or else the plaintiff wins by default. Without question, it is best to get an attorney to handle that.

Some attorneys are quite reasonable with fees and will handle your case and allow monthly payments that are much lower than the house payment. Some will allow a free initial consultation. If you have financial means to pay legal fees, interview several attorneys and ask for references. If you do not feel comfortable with a particular attorney, run! Trust your instincts. You want someone who is easy to talk to and is respectful of you and sensitive to all you and your husband are going through. I believe honest lawyers will welcome your input -- and good clients will be engaged and helpful, but will respect their attorney's time.  

Will you get to keep your house? Sad to say, probably not. 

Few homeowners have gotten a free house. So, you need to really be honest with yourself about whether keeping the house is best for you. If the property is underwater, that is not likely to change soon. It might be better to negotiate your exit time and go peacefully. 

If you are served, read the complaint and other documents very carefully. Foreclosure mills are cramming through as many cases as possible, and they make mistakes. And some plain out lie. The stress of my situation made me want to just hand over the paperwork to an attorney and not think about it again until the trial. That would have been a grave mistake, as when I FORCED myself to read it, I found errors, false statements and intentional misrepresentation. I must say, I would not have known what to look for, had I not spent many hours reading posts on this site.

I've been researching online for more than a year, and I don't know of a site with more to offer than this one. Several here are very knowledgeable and willing to help. Search for posts by William Roper, Jr.  His time and effort on this site was a kind and gracious gift to homeowners who came looking for help. He did not spew pie-in-the-sky theories that would get a homeowner laughed out of court; rather he gave plenty of facts that could be a springboard for further research. You will also want to check out the Legal Library and other links on the home page here. Some come here by a link to the forum and don't even know of the excellent library that the owner of the site has posted.  

That said, keep in mind that being informed is good, but a defendant's job is not to teach the court about the fraud or securitization failings; rather, a defendant's primary job is to show that the plaintiff did not prove its case. Doing the latter might have little to do with the semantics of securitization and servicer fraud and more to do with civil procedure and rules of evidence.

So, there you have my opinion. For what it is worth. It is surely not worth considering as legal advice, just as the mere opinion of another homeowner in foreclosure who is very tired of the fight, but I guess too stubborn to give up. 

Feel free to ask any question. Without some of the former members now, it does get a bit quiet on this forum, so the answer isn't always quick. Usually, though, someone will try to help.

Godspeed, Texagal. I wish you well. 

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