reply to post by sheepslayer247
I'm going through this myself. My case is in Federal court but I'm hoping we can get it shifted back to state level as the federal judges are
corrupt. My case was recently dismissed by a federal judge who didn't even bother to acknowledge a single allegation in the complaint and stated that
he didn't see any evidence that I'd suffered any damages anyway. My lawyer was actually shocked and speechless. We've filed for an appeal, so the
waiting game continues.
My case is a good one- clearly documented contract violations, bad faith, bogus fees and outright lies. This has been going on since summer of 2008.
It began with the mortgage servicing company refusing to post a payment and extorting over $5000 from me to secure a forbearance agreement that they
refused to disclose the terms of. I was only two months behind. At the time, I actually had the money to get current with the whole account in less
than a month, but they wouldn't let me. Then they didn't send the agreement, denied there was one, and demanded more money from me before they would
send it. I finally got them to admit they were wrong and they sent the agreement. It added $500 to my monthly payment for a whole year and threatened
immediate foreclosure if they were even one day late. I continued with this for a few months until I found a lawyer willing to help me out.
Then the modification nightmare began. I was advised to stop making payments, and they wouldn't accept any payments from me anyway as the forbearance
was suspended pending the modification application and they wouldn't accept partial payments or make any interim payment arrangements. Then finally
there was the trial modification. I made the three payments and then they claimed I hadn't made the first one. I presented the proof through my
bank's record of the treasurer's check. They told me to send another one as they'd lost the one I sent. I did, and then they didn't send me the
final modification. I stopped making payments and got another lawyer. We sent a demand letter under consumer protection law and they refused to even
answer. We demanded a full accounting of the account and they replied that they didn't need to provide us with that. Then, after about 5 months, they
sent a modification agreement with about $30,000 added to the amount due and a demand for over $10,000 to secure the agreement. They also tripled the
interest rate and gave me a week to reply.
Note here that originally I didn't even need a modification at all as I would have been able to get current if they'd allowed me to. Also, my loan
was not a purchase money- I'd owned the house for years and had refinanced. I was actually a very good customer.
I went through three different lawyers before I finally found one willing and able to file suit against the bank and the servicer. I'm actually in
the legal profession myself- I'm an independent paralegal and researcher. I work with dozens of attorneys and I do understand the law. What these
banks and servicers are doing violates so many laws it's actually staggering to list them all.
It's a popular myth that the banks and their political and media puppets create that the homeowners are getting what they deserve. It's also a myth
that that banks are simply incompetent. No. Banks NEVER tolerate incompetence in their operations if it's costing them anything. They have made
fortunes off this through the derivatives, insurance scams, bogus bankruptcies and tax evasion schemes, and finally through the government bailouts at
the taxpayers' expense. TARP was just the beginning. The "Help for Homeowners" modification scheme was presented as a way to help the homeowners,
but it was in fact a back-door bailout for the banks. They got bounties for pretending to modify loans, with absolutely no requirement that they
actually do so. These mortgage loans have been paid off many times over.
Incidentally, anyone out there who is in a modification or applying one should be very careful. The terms of the modifications give the banks an
almost unlimited number of loopholes to reneg on the agreement and toss you into foreclosure whenever they decide that they're ready to cash in on
that. You aren't safe.
My advice is to get a lawyer before you lose the house, if possible. Sue under consumer protection law and contract violation and start tracking
emerging case law. There have been some excellent cases coming down lately and I expect more to be coming along soon. If you can present as a
plaintiff in a lawsuit rather than a defendant in a foreclosure or a debtor in bankruptcy you have a slight edge as far as public perception goes.
Also, you will remain in physical possession of the house until the matter is resolved.
I've no idea how this will all play out in the end, for you, for me, or for the rest of us.