Losing My Home......

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posted on Jun, 14 2012 @ 10:02 PM
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Firstly i am very sorry for what you are going through, i live in the UK and at one point to protect my home i had to claim squatters rights. (Not sure if you have that right) the first thing i would do is find out what kind of change over the company had, were they bought right out including all debts, if so and you have documents to say that you paid the old company (which you mentioned you did) then you have the law on your side, i cannot see that you need to lose your home before you can take legal action. there is also something that some companies do but dont admit to is called Name Only buyout, which is basically when they find a small company that is doing better than they are and strike a deal to change the name, some companies take this opportunity to "Misplace" files and information to reclaim property or debts and up their finances. also be sure to check the value of your home, sometimes and most companies have a knack for checking values on homes, if the latest value of your home is more than what you owe this may be their opportunity to get twice their money back.

Your other option is go to the papers, the media, the net is good but it doesn't get a lot of attention from the Main Stream Media (Even though its pretty evil anyway) getting that kind of attention can change the way the company works, even just using that as a threat can work. One more thing do you have dependents, children, disabled parent or family etc. this can work in your favor as some countries have a law that prohibits the disabled being thrown out on the street.

so, use some of the options above and see if that helps. it helped me when i was fighting for my home. and again sorry for what you are being put through, it just go to show, the little man always gets squished.




posted on Jun, 14 2012 @ 10:02 PM
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reply to post by CookieMonster09
 


I have had and do have the money to pay in full. They keep refusing payments for a myriad of reasons. I refuse to let them tack on thousands of dollars in fees and such when I have been more than willing to bring the account current.

As far as refinancing.....I have tried but most local bank's investors will not invest in a refinance that has numerous late payments in the last 12 months. The mortgage company has dinged my credit something fierce, so no luck there.



posted on Jun, 14 2012 @ 10:03 PM
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reply to post by sheepslayer247
 


Man that blows. I would like to say I don't believe it. But the sad fact is I do. The game is rigged against us all. However, do you have an experienced mortgage lawyer, one who knows foreclosure law and the transfer of ownership among banks. Many times this is done incorrectly by the banks (mortgage holders). If company A sold your mortgage to company B there are paperwork requirements, these vary by state, of course. But if by some chance they didn't do this properly. The end result is your house is yours, mortgage free. Look into this with a qualified attorney.
Best of luck to you.
Of course if this doesn't work out. You could have an "accidental" fire shortly after moving out....



posted on Jun, 14 2012 @ 10:03 PM
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reading stories like these is depressing. just recently wells fargo screwed an old couple over and the husband commited suicide. leaving behind his wife and stepson. you think maybe, just maybe, its time you stopped playing nice and by the rules?



posted on Jun, 14 2012 @ 10:04 PM
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reply to post by sheepslayer247
 


I am just thinking off the top of my head that the new mortgage company has no case because the amounts they report due are inaccurate - i.e. they don't reflect the payment to the original mortgage company. If the loan was sold at a faulty valuation, then company B ownership can be challenged.

You need to get in front of a judge. No judge is going to foreclose if you show you made the payments. I assume you are probably late some more payments by now. If you get to see a judge make sure you have that money.

One more unfavorable way to save the house is to declare bankruptcy. A bankruptcy judge may have a different take on things. Probably throw out your case and the mortgage case at the same time.

You have to get a lawyer who will fight the foreclosure with Company B. Company A probably has no assets at this point.

I would also address it with the D.A. as it sounds like Company A created major fraud. If it was found that they systematically did this then someone should be going to jail.



posted on Jun, 14 2012 @ 10:11 PM
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I can relate, as my brother is going through the a similar thing with the banks. We've tried everything to save his house, but they just seem hellbent on evicting him and taking his house no matter what we do. He owned two houses at one point, and when he sold one there was a shortfall of around $30,000. Instead of letting him take out a personal loan, they continued on some BS 30 year mortgage payment plan, that will net the bank somewhere in the realm of $300,000 in interest. It makes for payments almost as much as the house he actually has, around $500 a month on top of the existing mortgage. There's nothing he or any lawyers can do about it, and it's just a joke.

The thing I can't get my head around is what will happen when we all stay stuff the government, stuff the corporations that rule over everyone, right across the world, and just walk away. I know it sounds impossible in the 21st century, but I just can't get my head around what their endgame is. It's fairly obvious in the short term the banks sit on the houses until the economy turns, then sell them off at a profit, thus making the banks even more money, but what they don't seem to realise is they are going to eventually shoot themselves in the foot, and people will say no more. I'm honestly at the point in this world of just giving it all up and going off the grid in a tent somewhere, which I can't say will be a bad thing. Ultimately, when they do this, and the majority say no more, the banks and the corporations will lose that power over us, and thus be of no further use to us.

I wish you good luck in your fight for your home, you are not alone in the world going through these struggles, and always remember, as pretty much everyone has stated, details details, details. It will save you (and your sanity) in the end.



posted on Jun, 14 2012 @ 10:13 PM
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Originally posted by ColAngus

Originally posted by sheepslayer247

In closing, I feel for those of us that fight to keep what is ours, only to fall prey to foxes and weasels of the world. Ya, the economy is bad Mr. Obama! You couldn't tell, smartass? How about you worry more about what we the people need instead of kneeling at the altar waiting for the corporate money-shot!


First an foremost, sorry to hear about your situation.

But do you genuinely believe the situation would be better had it occurred while W was president? Or if McCain was president?

If so, I'd love to hear the reasoning.


Yup, I would love to hear it as well. Once again, blaming someone else.



posted on Jun, 14 2012 @ 10:19 PM
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Hey OP... do you live somewhere there is a major network TV affiliate?

If so, write detailed notes on the entire deal, and shop the local news networks for a "public interest" story.

See if you can get some media coverage.

The reason the mortgage company treated you the way they did, was they NEVER had any intention of working with you... they make too much in house on overcharges and penalties during foreclosure... whether they have standing or not to file foreclosure papers.

You might want to go down to the county clerk in your county, and find out whether they ever even filed a wet signature document regarding your mortgage note, and deed assignment. If they did not, have an attorney subpoena the original documents, that prove they even have standing to file foreclosure. If there area no documents filed, document it, and get witnesses to collaborate there are no documents.

File a complaint with your states Attorney General consumer protection division, describe what you did to us in the OP, and then also let them know, if you didn't find the proper deed filing. Even if they did file the deed, file a complaint with the AG. Then, write the mortgage company, and demand they produce documents, and send the demand to them by certified mail, return receipt guaranteed, and CC your States attorney general's office, and be sure to put the complaint case number on the CC sig line in the letter you send to the mortgage company.

You may even let them know you intend to sue for damages and emotional duress as well, if they complete the foreclosure, and put you out of your house.

Run all of the above by an attorney friend or legal aid... but just remember, you DO have rights! USE THEM.

Best of luck.

dasman



posted on Jun, 14 2012 @ 10:21 PM
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Bank of America sent me a letter in the last two weeks stating due to rapidly declining home values in your area, we are lowering your credit limit on your line of credit. I'm thinking ok fine. Screw you. I won't be planning on doing any more business with such a stupid bank. My home will be paid off in a few years and I won't need to bother with a line of credit. I certainly don't have any plans to continue using a bank that acts without checking on the situation in the local area. I already closed up my checking and savings account I once had with them. Of course they say if you send in the paperwork, they can review your case. There are idiots working at the banks

No, it sounds like Bank of America is being a prudent risk manager by protecting itself from a potentially risky loan scenario.

All banks have a fiduciary responsibility to conservatively manage their loans -- loans, which, after all, could never be given if it weren't for the deposits held at the bank by everyday depositors, such as your next door neighbor. Banks have a fiduciary responsibility to protect itself -- and its investors and depositors --- from loans that have heightened warning signs, such as yours.

The fact that you also closed your deposit account, shows that you arrogantly want to borrow from the till, but don't want to contribute your deposits for which others could borrow.

Frankly, banks want long-term relationships clients that have multiple bank products and services. That's what is profitable. Not the one trick pony client that just has a single, stand alone bank product, let alone the one loan product showing red warning signs. I am sure the feeling is mutual.
edit on 14-6-2012 by CookieMonster09 because: (no reason given)



posted on Jun, 14 2012 @ 10:31 PM
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An after thought...

Go to Google, and type: fighting back against foreclosure

and: fighting back against MERS foreclosure

Get educated...get your county officials on your side... be polite... talk to them about the 10's of thousands of dollars that the banks have stolen from the county, by using MERS instead of filing proper documents with the county...

Get educated about this issue... and then give em hell!



posted on Jun, 14 2012 @ 10:41 PM
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I will give you a house, 4 bedroom, 2 bath. Right now. Take it or leave it. You have 48 hours.



posted on Jun, 14 2012 @ 10:43 PM
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reply to post by CookieMonster09
 


Logically, that is true...

...but Bank of America is nothing more than a zombie bank. They get no sympathy from me.

The only reason their doors are still open, is because the government has given the TBTF banks a pass on auditing their portfolio values. If they were forced to value their "loan book", they would forced into bankruptcy proceedings.

In the middle of October, 2011, BOA moved some of their derivatives exposure over to their INSURED DEPOSIT SIDE.

75 TRILLION DOLLARS WORTH. Think about that. They have taken all the toxic Merrill Lynch paper and derivative contracts, and moved them to the consumer side of their operation, in order to shore up "their collateral".

There are the 5 top "too big to fail banks" that have about 92% of the exposure to synthetic derivative instruments they have NO WAY of unwinding if they fail.

Anyone anywhere than thinks any of these big 5 act in good faith are beyond ignorance.

If you have your money in a big national bank, YOU ARE THE PROBLEM!

MOVE YOUR MONEY!




posted on Jun, 14 2012 @ 10:46 PM
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Don't give up Op.......had I known 4 years ago what I know now, I would have FOUGHT much harder so save my house. I had put $105,000 down and paid 3 years of payments....my loan was also sold to another mortage company...who sold my old house for $250,000...which was valued a year earlier at $500,000...long story, but I may have some insight that may help you.

Depending on where you are located, I am in CA...so property here is still desirable and not as easy to save. But many loans are sold at pennies on the dollar to mortage company B...I worked for a investment company that bought a "package" of these loans, mostly homes in the midwest....Now...this is going to make you SICK....a homeowner in Ohio may owe $25,000 on thier home, thier loan is sold for $5000 and they have no idea they even still have rights to that home....the new company NEEDS your consent to sell that property, or negotiate a new mortage with you....depending what the "motives" of the new mortage company are you may be able to re-negotiate your loan, ask them, WHAT did YOU pay for the Deed to my house? LOL, they probably won't answer you, but gotta love making them sweat a little.

If Mortage company B's intention is to foreclose, and in effect "steal" your home, make them PAY, and Fight till the end....Good Luck....you will be in my thoughts......



posted on Jun, 14 2012 @ 10:46 PM
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reply to post by sheepslayer247
 


There are a few websites I've found that give some good links to relevant news stories and even actual court documents. My lawyer has been making good use of many of the things I've found. Check out

foreclosurehamlet
msfraud
nakedcapitalism
livinglies

If you're going pro se, the livinglies website is devoted to that. Lots of good advice and forms to help the homeowner going it alone. Sorry I didn't put any of these into a link form, but it's a bit of a task for me to go back through my favorites list and capture all the links. A simple google search on the names will get you there.

Hope it helps, and if anyone knows of any other good sources that have links to court cases and judicial decisions, please do let me know.



posted on Jun, 14 2012 @ 10:49 PM
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reply to post by CookieMonster09
 

You're absolutely wrong in your opinion I believe. The bank has a lien against my house. They can claim the house if I reneged on any loan on that line of credit. I will have the original mortgage loan completely paid off in only a few years meaning the only debt I have on the house is less than 40% of the total value. The maximum credit line before they reduced it would be worth less than a quarter of the house price. Bank of America is probably sending out letters to everyone due to their own internal problems. House prices have gone up in my area. Someone suggested the bank is probably reducing credit lines for people who haven't been using the credit line any time recently.
I hardly think it is good business practice to reduce available credit to someone who has a long standing stable job and appreciating home values and excellent credit. Anyway I think they are being stupid and I won't be doing business with them after a few years when my home is completely paid off. I could pay it off sooner but I'm not that upset with them.

Now that I think about it, I guess the other possibility is that they changed the credit line back to what may have been on some original paperwork. I believe what they dropped the credit line down to was what I originally requested. A girl from corporate called me up and offered to raise my credit line to get a lower interest rate when I was first getting the line set up. Somewhere there was probably a record of that and someone reviewed it recently and said "What the H.., giving the customer a break, what is wrong with some of our employees?"
edit on 14/6/12 by orionthehunter because: (no reason given)



posted on Jun, 14 2012 @ 10:51 PM
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reply to post by sheepslayer247
 


Holy crap they screwed you over hard son.


The sad thing is I've heard so many stories like this... they keep refusing payments, using one excuse after another, until they can put the house in foreclosure then they take you for all your worth.

God damn merciless criminals is what they are...



posted on Jun, 14 2012 @ 10:57 PM
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So why hasn't the OP contacted me? Is he/she not monitoring this thread? I have publicly opened my asset.



posted on Jun, 14 2012 @ 10:59 PM
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reply to post by sheepslayer247
 


When I read your story the first thing that came to my mind was B##TRDS! These banks are preying on people like you. They devise ways to put your home into foreclosure. They have no heart and can care less about every hard working American. They pick our pockets with all their ridiculous fees, yet make money on our savings and investments. Congress keeps deregulating the banking industry and they will take advantage of it every chance they get.



posted on Jun, 14 2012 @ 11:02 PM
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Damn it, I hate the fact that people keep going through this.

Sorry about your situation, further proof that Obama is totally out of touch.

I wish I had advice for you but in order to be one step ahead of the leeches that are making you go through this means one would have to be a super leech.

The only thing I can say is make sure you have all your documentation ready to whip out when needed and if the banks can't produce their copies at that same exact time, you just might have the upper hand.
Fight fire with fire, there has to be a loophole somewhere so keep looking for it.

Hang in there.



posted on Jun, 14 2012 @ 11:02 PM
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reply to post by Gridrebel
 


I addressed the Bush issue already in another post, but I would like to reiterate that this is not about politics. The headline with Obama was just the catalyst that lead me to write the OP. That's all.

As far as your offer to give me a home........I respectfully decline. I doubt that you live in my area and this town is just as much my home as this house is.

This is about much more than having a place to live. This is about right, wrong and morality in how we deal with each other as humans.





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