Comments on: CNBC – Will Foreclosures Get Worse? Foreclosuregate – We don’t know who is entitled to the money https://4closurefraud.org/2010/10/04/cnbc-will-foreclosures-get-worse-foreclosuregate-we-dont-know-who-is-entitled-to-the-money/ - Fighting Foreclosure Fraud BY SHARING THE KNOWLEDGE Mon, 08 Dec 2025 14:10:25 +0000 hourly 1 https://wordpress.org/?v=7.0.7 By: yvonne https://4closurefraud.org/2010/10/04/cnbc-will-foreclosures-get-worse-foreclosuregate-we-dont-know-who-is-entitled-to-the-money/#comment-6652 Wed, 06 Oct 2010 05:25:46 +0000 https://4closurefraud.org/?p=11821#comment-6652 Not all the forclosures or pending foreclosures were due to sub prime or non payment…some were intentionally targeted even though payment was made…there is an issue with the forced insutance also…and the amount the bank insures the property for, for double ro more of the loan amount…also…they owned the insurance company and did not disclose those…they also tried to overcharge the homeowner on the insurance…check this out for yourself…causing an escrow shortage of exorbitant amount claiming that insurance at a very high rate was purchased by them …
Therere is a lot more issues than has been disclosed so far…
Some homeowenrs rightly need to be given back a clear title to their home …free and clear, esp if they have been paying a mortgage for 20 years and making regular payments before the bank tried to forecose…

]]> By: Gabe https://4closurefraud.org/2010/10/04/cnbc-will-foreclosures-get-worse-foreclosuregate-we-dont-know-who-is-entitled-to-the-money/#comment-6640 Wed, 06 Oct 2010 03:56:03 +0000 https://4closurefraud.org/?p=11821#comment-6640 All this chaos could be stopped if the bansters wouldn’t be so greedy and approve loan modifications to homeowners who still in their homes, and able to pay the current market value for their homes. Hamp was created to make homes affordable. If a home mortgage was 500K and currently it is worth 250K the bank do not modify the loan. Instead foreclouse on the property kick the family out and sells the home for some investor for 200K. It doesn’t make any sense.
If the Banksters would allow the family to keep the home for the current market value, home prices could stabilize. So would the economy.

]]> By: pelucheven https://4closurefraud.org/2010/10/04/cnbc-will-foreclosures-get-worse-foreclosuregate-we-dont-know-who-is-entitled-to-the-money/#comment-6612 Wed, 06 Oct 2010 00:15:23 +0000 https://4closurefraud.org/?p=11821#comment-6612 Where did this lady come from? as far as I am concerned I cannot trust this people with any document and much less with the accounting. how do I know if they actually send my payments to the right party? how do I really know if my loan is actually secured by my home? how do I know if all the fees, commissions and payments into and out of my loan account have been fully accounted for?

we got them on the forged and fabricated documents and now they think people are going to fall for their accounting practices.

I am no longer taking the STUPID pills!

call and write to your local media and literally force them to report of the accounting, that is where the next battle will be. WHERE IS THE MONEY??????

]]> By: Elaine S https://4closurefraud.org/2010/10/04/cnbc-will-foreclosures-get-worse-foreclosuregate-we-dont-know-who-is-entitled-to-the-money/#comment-6578 Tue, 05 Oct 2010 19:33:21 +0000 https://4closurefraud.org/?p=11821#comment-6578 In reply to David in Cleveland.

See jeffrey Stephan depositons (sworn testimony) top menu this website. pay attention to how many documents he was signing and the notary not being present so he boxed docs and sent them to a notary.

And this webistie, main articles center section scroll down the to the one that starts Kaboom. Bookmark it if possible print it out so you can highlight it and write on it. Read the article first, and then the entire actual legal document. It is a long read, i guarantee you it will be worth it and answer many of your questions.The names you list strongly imply that even the MBS ( mortagege backed sercurities) parts are relevant.
It is a huge education all in one place. It is a rough draft of a class action lawsuit yet to be filed. but it is an attorney writing. You may need to read some sections over and over again, but it will be worth it.
You will quickly see that your recital about fits right in with the other examples of actual cases included in this filing. Be patient with yourself. reread the second time or the third will make new things understandable and more valuable.

Just like a car, a note has a chain of title and so does a deed of trust. If there are any missing links you can’t prove a car title can you? And reverse your thinking for awhile too. See it as if someone by fraud and forgery were trying to criminally defraud you of your property. You don’t have to lok at this only through the perspective of “the banK’ taking back your house.

make a list of every transfer. and list the proofs for each transfer. and list the lack of each item. What is missing is every bit imporant as what is there. The part about MBS’s using the word “trust” in a way that is misleading the court could be of particular value. That an MBS doesn’t hold any notes, only a custodian for the MBS does, explore that too.

]]> By: John https://4closurefraud.org/2010/10/04/cnbc-will-foreclosures-get-worse-foreclosuregate-we-dont-know-who-is-entitled-to-the-money/#comment-6565 Tue, 05 Oct 2010 17:21:48 +0000 https://4closurefraud.org/?p=11821#comment-6565 As these foreclosed houses sit empty for a long, long, time there is another expected happening.
At all the trade days and roadside flea markets there are and will be greater and greater buys in light fixtures, lumber, decks, carpet, appliances, copper wire, fireplaces, and especially air condenser units and furnaces!
I’ve never seen them so cheap.
This is a thieves field day.
What are we coming too?
Better to leave folks in their homes and sign new, proper deals they can live with and with a correct lender so the homeowner can get clear title and finally a paid off note when final payment is made.
Doing otherwise will cost lenders far more than what they reduce payments to existing homeowners. Not a threat of course, but, simply stating reality that lenders should consider. MONEY TALKS!

]]> By: foreseeyer https://4closurefraud.org/2010/10/04/cnbc-will-foreclosures-get-worse-foreclosuregate-we-dont-know-who-is-entitled-to-the-money/#comment-6562 Tue, 05 Oct 2010 15:56:22 +0000 https://4closurefraud.org/?p=11821#comment-6562 “… it’s the end of the world as we know it….”
-REM

Better start growing your own foods….

]]> By: leapfrog https://4closurefraud.org/2010/10/04/cnbc-will-foreclosures-get-worse-foreclosuregate-we-dont-know-who-is-entitled-to-the-money/#comment-6545 Tue, 05 Oct 2010 15:03:28 +0000 https://4closurefraud.org/?p=11821#comment-6545 My originator went bankrupt in 2007 – American Broker’s Conduit. I’ve read the theories/market ticker articles on the BK originator – but really where does that leave me as a homeowner? The present pretender-lender has no skin in this game whatsoever.

]]> By: John https://4closurefraud.org/2010/10/04/cnbc-will-foreclosures-get-worse-foreclosuregate-we-dont-know-who-is-entitled-to-the-money/#comment-6542 Tue, 05 Oct 2010 14:38:06 +0000 https://4closurefraud.org/?p=11821#comment-6542 Here is what I see happening. These banks and mortgasge companies being awarded empty houses and some will end up with 50-100 thousand or more with no one buying them because the title is not clear. No title company would touch this mess, but that hasn’t been addressed yet.
Our best remedy is to have others in thsi industry that are as big and rich as the bankers fighting to save themselves instead of we the little people.
Who’s going to buy one with the title in question and no clear title available?
When these forclosed upon houses sit empty (some will burn) and you can bet the insurance cost and taxes and upkeep will be enormous, then and only then will we see negotions start with those people foreclosed on to move back in with reduced payments and good deals.
They understand money, not what’s right or the law its sad to say!

]]> By: David in Cleveland https://4closurefraud.org/2010/10/04/cnbc-will-foreclosures-get-worse-foreclosuregate-we-dont-know-who-is-entitled-to-the-money/#comment-6540 Tue, 05 Oct 2010 14:24:29 +0000 https://4closurefraud.org/?p=11821#comment-6540 Can anyone answer this for me?
My GMAC foreclosure filing in Cuyahoga County, Ohio includes an Allonge to Note dated in Jan 27, 2010 with no “effective date” listed. Foreclosure filed 2/16/2010. Mortgage filed 7/7/2003. No further docs recorded on my parcel.
1. Is that valid? Will that hold up in court?
2. Don’t they have to file with the Recorder each Allonge or Assignment? And do that prior to filing a foreclosure action?

Further, Jeffrey Stephan signed the mortgage Assignment, same date 1/27/2010. Stephan signed as Vice President of MERS as Nominee for Homecomings, the Lender on the Note, assigning to Deutsche Bank Trust Company Americas as Trustee. The copy of the Note attached shows TWO “Pay to the Order of…” to both Residential Funding Corporation AND to JP Morgan Chase Bank, as Trustee. And now the Allonge to Note is from JP Morgan to Deutsche, who is the foreclosing Plaintiff, and they filed the Complaint on 2/16/2010.
How can Stephan sign as an agent of an extinct company, Homecomings? Who was bought out by GMAC?
Further, the Deutsche Trust I can’t find a prospectus to look up the Closing Date. SEC website doesn’t show it. Ideas?
Shouldn’t the Note show a chain of title from Homecomings, to Residential, to JP Morgan Chase, to Deutsche, ALL before they file foreclosure?
Any answers you have will help. Thanks.

]]> By: John https://4closurefraud.org/2010/10/04/cnbc-will-foreclosures-get-worse-foreclosuregate-we-dont-know-who-is-entitled-to-the-money/#comment-6538 Tue, 05 Oct 2010 13:58:22 +0000 https://4closurefraud.org/?p=11821#comment-6538 The position some Judges are taking is if the bank or mortgage company has a foreclosure deed then they have standing and can evict.

Any comments on this for us?

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