SHOCKER, not everyone in foreclosure “bought too much house” or “lied about their income on the loan application”. It turns out, that at times, Wells Fargo falsified records and changed borrowers loan applications or steered them into sub-prime profitable loans. “The order requires Wells Fargo to compensate borrowers affected by these practices.” To identify Wells [...]
Short Sale Nightmare: Seller & Buyer sued by Fannie Mae & MERS
July 14, 2011 By 1 Comment
SHOCKER!! Buyer of a short sale doesn’t own the property he just purchased (or does he?). Seller of the short sale paid off the wrong party (or did he?). The below email was sent to Neil Garfield at Living Lies. Sadly this is not shocking at we know of two other lawsuits where the seller [...]
ForeclosureHamlet.org aka Lisa Esptein’s Response to Nationwide Title Clearing Cease and Desist Letter
April 1, 2011 By Leave a Comment
The letter below shows EXACTLY how the banks and their lawyers try to twist the facts and scare homeowners as well as consumer advocates into accepting their lies. The blogs referenced in this response letter are credible and valuable in the foreclosure defense arena. Statements like: “A paralegal at the now defunct law firm of [...]
Bank of America’s mistake cost man his house!
September 23, 2010 By 6 Comments
Bank of America “accidentally” foreclosed on someone again! It has been a couple of months since they last did this so give them a break. Thanks to 4closureFraud.org for the awesome graphic! This poor guy bought a house, in CASH, which used to have a Bank of America mortgage and obviously that was good enough [...]
JPMorgan CHASE is in the foreclosure business, not the modification business
September 12, 2010 By 8 Comments
It’s simple, follow the money. Everyone understands the purpose of a compensation plan. Develop a plan that uses money to motivate a certain behavior. For the past several years we’ve been saying that the banks/servicers WANT to foreclose properties. It is the fastest way for them to generate fee income as well as convert [...]
Taylor Bean & Whittaker chairman Lee Farkas Charged with Securities Fraud
June 16, 2010 By Leave a Comment
If your mortgage was funded or serviced by Taylor, Bean & Whittaker then it needs to be audited. TBW was notoriously difficult to deal with in the final stages of its life and closing a short sale or loan mod was near impossible as no one seemed able to pull the trigger. Well now the [...]
Fannie Mae requiring borrower to be more credit worthy. Say it isn’t so!
May 5, 2010 By Leave a Comment
Citing the need to protect borrowers from mortgage payments that potentially balloon out of control, Fannie Mae is putting forward new standards for the purchase and securitization of adjustable-rate mortgage (ARM) products. Why stop now? You have unlimited U.S. taxpayer money. Everyone NEEDS to have a home. More loans, more loans, more loans. A mortgage [...]
Chase produces a Fraudulent Assignment of Mortgage
May 4, 2010 By 1 Comment
J.P. Morgan Chase along with its attorneys cranked out some bogus docs or so it seems. These guys will stop at nothing to get their way. Thanks to 4closurefraud.org for posting this info. – The Bank Slayer J.P. Morgan Chase / LPS Produced a Fraudulent Assignment of Mortgage! Memorandum of Law of The United [...]
No Trust in the Trustee – Rigging foreclosure auctions for profit
May 3, 2010 By Leave a Comment
“There is no trust in this business” said the foreclosure trustee. Scary huh? This isn’t some fictional story. This is real life in Harris County, Houston, Texas. Recently, members of our team confronted the Trustee that was about to auction off the homestead of one of our clients. In our hand was the Temporary Restraining [...]
IndyMac is a shady operation – HAMP, we don’t need no stinking HAMP
May 2, 2010 By Leave a Comment
IndyMac is a shady operation. One of our staff used to be on the inside working against homeowners but (in my words…turned his life around) and now battles for home owners. He tells tales of “being trained” on programs like HAMP and seeing blacked out sections. When he asked why IndyMac (now OneWest) redacted [...]
