I am suing Citimortgage.....follow along as I hang these bastards.

reply to post by Rocky Black


There are a lot of foreclosure misconceptions floating around. When a bank forecloses, they don't get the house. They get a court order for a judicial sale of the house, from which they can get paid. The sale is almost always an auction. From the buyer's money the auctioneer and court official, usually a Commissioner, get paid. Then the taxes and any priority liens. Then the bank gets its principal, accrued interest, court costs and , attorney's fees. If anything is left over it goes back to the homeowner. If the sale price isn't enough to cover all this, the bank gets a judgment against the owner for the balance, called a deficiency judgment.

Good luck with that.

Do yourself & attorney a favor.

Type the search terms "Citibank CIA Front" into a search engine and read up about who your taking on!

I for one don't like your chances.

www.box.net...

Download that Folder of files and give them to your Lawyer.... they might just show where/who all the $ are going too!

Like I said - good luck coz your going to need every ounce of it that you can get!.

Cheers

I wouldn't post anything on here unless your attorney said it was ok. Since you made payments and they refused them, you may NOT owe anything more. I would keep making payments until this is straightened out unless your attorney says otherwise. You just may have a paid for house.

After reading this thread I am a little flabbergasted. I am not trying to troll, but just wanting to share my piece of the 2 cent pie.

The whole point of setting up savings is security for the uncertain future. If you loose your job, and you still have a savings, why would you not use the savings to pay off the mortgage? That's what your supposed to do.

Also, in regards to financing and loans, I was taught not to buy things I cannot afford. If I have to finance something over 20+ years, that means I cannot afford it. It's called living withing your means. If you do that, you never have troubles with creditors because their use would be minimal if you just lived within your means. Financing is a risky business, because the future is never certain, especially in these times.

However, those who are responsible with their credit who are in this situation, you have my sympathies. OP I wish you luck in your endeavor.

reply to post by InnerTruths


Kind of agree with you but:

Why should I give the bank all my hard earned savings when if I loose my job the take my life savings as well.

Why not take your life savings and invest in high intrest FDIC backed stuff. Better yet buy gold. Just dont lock it in a safe deposit box. Bankers can steal your stuff and you have no recourse... Proving a bank swipe your stuff impossible unless the guy confesses.

Borrow half the amount you need and keep your savings..

I for one have a very small loan granted its over 30 years at 5% but doubling the payments when you can really has a huge impact.

Never give your life savings up for any reason period. Defense of family member NFW. due the crime pay the time.

RB

reply to post by 4nsicphd


That is correct. And you get a 1099 for the difference.

Good luck!

I'll hope for the best.

Demand they produce the note on the house,bearing your actual signature.

If they can't produce that,they don't have a leg to stand on.

The SNAKES of the world ONLY hear and understand things when money is extracted from them. Thats the ONLY way to get their attention.

Hit'em where it HURTS!!!

LAWSUITS!!!!!!!!

Originally posted by lostviking
reply to post by wiredamerican

 

You got that right Wiredamerican! Believe me, if I do get a new loan, it will be on an inexpensive home and I will pay it off as quickly as humanly possible. In addition, I will look for an owner carry situation, triple the payments, and own the property outright (except for taxes of course). I will never again buy a mini-mansion, the expensive European car or finance a lifestyle. I have learned frugality, the power of having less to maintain, and the freedom brought on by minimalism.

Banks are potentially in big trouble, because people are coming around. I can be equally happy on a houseboat. People are beginning to understand that when you consume, you are owned. The materialistic mentality of the 80's and 90's is gone forever. I think we have found that it doesn't take much to be happy. Good sheets, quality over quantity, and real food. Our decisions will impact the big builders, agrifarmers, and drug companies. We are going back to a time of sanity.



Very well said lostviking. Im sorry to hear about the troubles you are having and am glad to see someone who is fighting back. I lost my home to foreclosure this year, primarily because I lost my small business and the 200k I spent my life saving. I owned a restaurant and after 2 years I finally paid off all my loans and was ready to turn the corner.Well, unfortunately it was the summer of 2008 and oil shot up to $147 a barrel , gas prices went to $4.20 and my business was cut in half. I wasnt born yesterday so I wasnt buying the whole "supply and demand" bs that the mainstream media was spouting. I knew from the beginning someone was manipulating the oil markets to line their pockets at the expense of destroying the world's economy. (people forget that this is was started it all).
Sorry to get off topic, but what I am getting at is, the world needs to realize that the bankers are criminals! I will never let a bank use another penny of my hard-earned money.With the help of my family, I purchased an old foreclosed home for next to nothing and have fixed it up nicer than my old home. Minus the $1200 a month payment to the banksters! Americans have been brainwashed into believing that huge mortgages and other loans are just part of life and everyone needs to be in debt and a slave to the banks. When you step back , does repaying $300k on a $100k loan sound like a good deal to you? The problem is that everyone feels like they have to have a bigger home and a nicer car than their friends or family members. Im embarrassed to say that I fell for that game but it feels great to have finally been awakened.
I agree with you that other people are waking up, but I still fear for where this country is heading. Are Americans just going to sit back and let the big banks continue to steal our savings? It looks like the Europeans are fed up and are rioting in the streets. Will we turn off our tvs, put down our starbucks and stand up for our rights? I know Goldman Sachs is being investigated for the oil manipulation but I cant find any class action lawsuits for business owners that lost everything because of their greed. Why arent all these crooks going to jail for the mortgage scandel, the commodities manipulation, the banker bailout and the huge bonuses they have stolen from us taxpayers? When are we gonna say , enough is enough?

reply to post by lostviking


All the power to ya! I'm glad you are willing to take this to the next step to hold these fraudulent banks/mortgage companies accountable for their less than ethical approach to business. I have a few friends who are in the same situation you are in.

Side note: When people catch onto this moratorium on foreclosure and exactly why so many people cannot find their original notes I'm thinking people will get tired of playing by the rules that are in place to keep them burdened by debt. When this happens more and more people will go into foreclosure knowing its only going to further the duration of the moratorium. So hence they can legally stay in their house and save their mortgage payment. The housing market crisis hasn't truly hit yet, it will hit when they have millions of foreclosure homes they can't evict or foreclose on. The system will get so backed up it will be completely impractical to enforce or claim anything legally.

The more and more complex and convoluted this financial system gets the more and more necessary a "revamp" will be needed. Which I would imagine would include a huge "debt forgiveness" bill.

reply to post by lostviking


why were you in the rearages in the first place?

I cant see a reason the banks would grant a "new" loan simply because you asked for one. If you had a strong income and good credit the only way to stay in your current residence is to pay your mortgage.

edit to add: that being said..I wish you luck. If I had the opportunity to sue and win I would have also.

Originally posted by lostviking
For a year and a half I tried to make payments, but they were all returned or randomly put into a 'suspense' account (the funds have never been returned to me.

It wasn't that we couldn't afford the payment, we have excellent credit and a strong income.

The money was created out of thin air.

First, why wait for a year and a half of returned payments? I would have straightened this problem out after the first month. My experience with CitiMortgage is positive, and they have been doing their best to work out a loan modification for my family, even when I screw up the paperwork. Don't wait for problems to fester and avoid confronting the finance company. Keep ahead of problems. It's always better to face them and solve them.

Second, if you could afford the payment, what is the problem? It sounds to me like you don't qualify for a loan modification. I lost my job because my employer folded, couldn't get another one for about 2 years, and during that time my wife got breast cancer. I qualify for the loan modification. Now it's just a matter of getting CitiMortgage to complete the paperwork to get it done. They have a lot on their plate, but they are working with me. The CEO's policy is written out: help keep everyone in their homes in any way possible. CitiMortgage did not accept the TARP payments for any length of time because they did not want to pay the interest rates on it.

Third, money has been created out of thin air for decades. That is how our economy is regulated. If we were to go to a gold standard, there would not be enough money to run this country. Gold is too scarce. We would be hoarding a precious metal, rather than using it for good. The Federal Reserve uses interest rates and the creation of money to regulate inflation. They are having a hard time now because lowering interest rates and printing money are not inflating the economy. This has been an ongoing problem since 2007.

Basically the same exact thing happened to me with CitiMortgage!!!!!!!!!!!!!!!!!!!!!!!!!!!

I have emailed you a brief synopsis of what occurred if you could put me in contact with your attorney please.

thanks!

reply to post by lostviking


If people only understood the strawman illusion, then they could grasp how there IS a conspiracy to take everything from us and give it to the few.

Google Video Link

Please Take a look at this video, it will help you in understand the world we live in tremedously.

Just a suggestion, but I'm a little confused here. In your original post you start in the middle telling us of setting up a 'repayment plan.' What's that all about? You akso say you have great credit and a solid income. So I'm not understanding how you captured the attention of the bank in the first place.

I've only had five mortgages on 4 houses in my life and though the early ones were primitive by today's standards they all worked pretty much the same way. I sign my life away. They send me a coupon book. I send in payments once a month. In my last two it was automatic withdrawl. In over 30 years I never had a payment go astray, never had a bank screw up, never missed a payment, and when I was all done they sent me a little note and recorded my payoff with the county auditor.

I'm just curious on what started this very bad ball rolling for you,

reply to post by lostviking


Citibank just recently listed me as being 12 months sequentially in 30 day default - even though I made every single payment on time.

I am looking to sue them as well if possible.

There was no misunderstanding on my part - they lied over 20 times to me over the phone - over a years period -claiming that my credit was absolutely spotless with them.

They are also trying to charge me 700 dollars in late fees - which they also kept hidden in a similar way to the way they have attempted to defraud you.

It is clear Citimortgage is no better than a local loan shark - and likely much worse - they need to lose any accredidation they have.

I would be glad to provide any testimony on my experience that would be useful for your legal action.

Good luck and God Bless!

Originally posted by peter_kandra
If you had excellent credit and a strong income, why were you attempting a loan mod? You also say the payments were either returned to you or put into a suspense account. Where did that money end up? Did you ever try going to a bank branch to have them assist, or just make your payments there? Every time I have an issue with my bank (BoA), I usually go into the local branch and bitch and moan until I get it resolved.

My thoughts exactly. Sounds like he made the mistake of refinancing to take equity out of his home, biggest mistake a home owner can make.

Originally posted by crimvelvet
reply to post by lostviking

 

Everyone - Here is some background info:

This is the absolute MUST read: DOLLAR DECEPTION:
HOW BANKS SECRETLY CREATE MONEY
It includes the landmark "First National Bank of Montgomery vs. Daly (1969) was a courtroom drama worthy of a movie script.3 Defendant Jerome Daly opposed the bank's foreclosure on his $14,000 home mortgage loan on the ground that there was no consideration for the loan...."[/i]
www.webofdebt.com...

The Banksters have been stealing this country blind for a century and giving NOTHING in return.

The money supply is in private hands. That means everyone has to borrow money from them and in turn pay them interest. Government gets money from taxation, which itself has not been legally ratified by congress or anyone else.

What I don't understand is if commercial banks can introduce new money through loaning and recording this money in credit accounts, why then do they need to borrow from THE FED? All they need to do, according to fractional reserve banking, is keep 10% of the actual currency in reserves and odds are that fewer than 10% of the bank's client base will show up at the same time demanding their money at once.

If I am correct does that mean banks rarely borrow from THE FED or does it mean that the digital accounts need to match the actual currency in circulation thus bank manager calls the regional FED OFFICE(eight located throughout the country) and orders the appropriate sum in interest bearing notes? That means we have two layers of commission before the money even circulates?

Am I close to the truth??? I am trying to figure out HOW this scam works with a "nuts and bolts" approach..........

edit on 30-11-2010 by EarthCitizen07 because: (no reason given)