Waiting Seven Years for Two Answers
By GRETCHEN MORGENSON
WHEN Zella Mae Green of Georgia filed for bankruptcy to save her home from foreclosure in 2004, she and her lawyer wanted to know two things: Did she actually owe any back payments on her mortgage? And, if so, to whom?
It didn’t seem like a lot to ask. But until last week, those questions had been unanswered for seven years.
Mortgages are complicated to begin with, of course. But when homeowners fall behind on their payments, the situation becomes far more complicated. Recurring fees and charges muddle the accounting. That banks routinely transfer the notes underlying a property can make things cloudier still.
But how Ms. Green’s case became her personal version of Jarndyce and Jarndyce, the endless lawsuit at the center of the Charles Dickens novel “Bleak House,” is a story for our times. The conflicting claims made over the years by employees and representatives of Wells Fargo, which says it holds the note on her property, are enough to make your head spin.
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If you or a bank loses the title to your car can you sell it?
The answer is NO and to keep it simple, car or home, the same applies!
I love your response. Let’s all start a computerized private and commercial motor vehicle registry and help out our overworked public employees. We won’t have to tell anybody who really owns the vehicle. If the court asks, we’ll just change the ownership or make an assignment. Vehicle owners won’t have to pay excise tax, recording fees, Interstate Fuel Taxes, get safety inspection stickers, or any of that other pesky “paperwork”. Look at the service we would be providing !!! Oh yeah, then the states would have to lay-off a few thousand more employees. Ahhh but who cares, it’s all in the name of money!!! Best part is, judges have already given the OK to it. Where do we sign up?….LOL
I stopped paying my mortgage when I realized I was being scammed by my servicer, Wells Fargo.
They securitized my loan and sold it to investors after I signed the mortgage. They lied, obfuscated, and refused to disclose the real owner of my mortgage when I tried to apply for a loan modification, therefore, I refused to pay them!
Now I am being foreclosed on by HSBC Bank. Until Wells Fargo can produce the note and I know definitively who owns my mortgage I will not pay another dime. Exactly 12 months later and I still have not been scheduled for a hearing.
I anxiously await a response from the Banksters!
This is completely ridiculous and ludicrous that three different entities claimed they were owed money and then Wells Fargo has the audacity to make this woman wait 7 years for proof of something that they clearly knew they never had, the note. How could this kind of BS be happening in America and why is this happening in America? The answer is simple really, rampant fraud and corruption and EVERYONE is paying for it.