Comments on: Feds to Sell Off Delinquent Loans of Borrowers in Foreclosure

By: To Tell The Truth

To Tell The Truth — Thu, 14 Jun 2012 18:15:09 +0000

I believe from reading all these comments that there are some that still don’t get it! Is anyone involved with the GMAC chapter 11 filing? The list of GMAC and its other companies…Homecomings, etc is a long list…why so many companies? Also, do you know that on their books we are the creditors and they are the debtors? That as such we can participate in the bankruptcy case if we have a claim as a creditor and we do? Whatever they say we own and all the other monies they generated off our signatures are ours to claim…go figure! They dont want us to know that…all your loans are paid off…do not feel guilty for not advancing anymore payments! The got themselves caught in their own net/spider web…the loan has been paid of numerous times…you would be shocked at how much was earned/generated off your signature!
Go file for quiet title…

By: John

John — Mon, 11 Jun 2012 15:27:29 +0000

What seems to be neglected is this:
many of us are not going to deal with a company that cannot show that they are the proper entity that owns the note to our home and when we pay, it is going toward our paying off our home instead to someone collecting and later we might find out we have paid to the wrong crook. Tell me how you would get your money back for being so stupid you paid a company that said you should pay them by regular mail. What agency would help you then?
Heck, I’m surprised more companies are not sending our notices to start paying them as most will do it without question.

All I did was write the company I was asked by mail to start paying when the two companies before this one went bankrupt. I told them I was nervous about their credibility and politely asked them to please show me whatever they had that proved that they were the right company in the next 60 days or I was going to stop making payments until they could show me.

They never did, so I quit paying. Every time they have asked me to pay, I sent a copy of my letter. No response.

Making the payments is not a problem, making them to the right company is!

I would not make them to the wrong company if I was a multi-millionaire. Only a fool would.

By: foreclosureweary

foreclosureweary — Mon, 11 Jun 2012 15:17:07 +0000

Robert Murphy, please arm yourself with court/legal knowledge–I understand your plight, but there are people who fight in court in non- judicial states like MN. and even though they may not be considered “wins’ they can fight and stay in their homes for years legally—I encourage you to find others who are fighting in your area and study “jurisdictionary” or similar courses–and fight the fight in court–I am in my 4th year of fighting–my husband and I had a house in a non-judicial state and we are now involved in a wrongful foreclosure fight–we are the soldiers in this battle–

By: Ali

Ali — Mon, 11 Jun 2012 04:04:08 +0000

In reply to John. Dear Mr. Murphy, My hearfelt sadness to you plight cause by these parasidic banks and their bottom feeding minions. I hope you are feeling better and your recovery is going well. I will keep you and yours in my prayers. I can advise you non-legaly. Do not communicate with these pretender lenders. Obviously they pulled a scam on you, you are not a;one, they have done this to millions of folks, they care not if you are law enforcement , active duty sodiers amd retired veterans, people with cancer ,families of children with cancer, they DO NOY CARE. But there are people who are willing to help and there is more advice on many sites on the internet. 3 things, you are not alone, the truth is out there,and get ahold of "Occupy your homes", I know they will help you!

By: readdocs

readdocs — Sun, 10 Jun 2012 18:28:10 +0000

How many of these foreclosed or defaulted mortgages are owned by who ever
is selling them off? This just means another level of fraud on top of that already
existing. How long before it becomes clear the sell offs do not have clear titles?

By: Phred Maldonaldo

Phred Maldonaldo — Sun, 10 Jun 2012 16:13:20 +0000

GOOD GRIEF! Hasn’t anyone here read UCC and the requirements of ‘negotiation’?

California courts, as bad as they are, have held that entities who purchase a note after notice of default who are aware of the default have no right to collect the debt. The illegality of the “assignment” nulls the amount.

Now look it up in your respective state statutes and find the case law that supports it and ARM YOURSELVES TO THE TEETH WITH KNOWLEDGE.

By: Brenda Largent

Brenda Largent — Sun, 10 Jun 2012 15:46:18 +0000

If they are not the Holder of the Note and just the servicer, I have been in courts for 3 years, and will not make any arrangement concerning my home, with a party that has no standing. I believe if you do you allow these banks to destroy the evidence of their crimes and they get you to comply.

By: talktotennessee

talktotennessee — Sun, 10 Jun 2012 03:29:29 +0000

In reply to rene Powers.

They won’t work with homeowners directly because they want the loans off their books. They can write down to investors rather than persuade them to modify. Having said that, this latest sham is another method of closing the door on the homeowner.
Seriously, how many investors are going to work with a prior homeowner when the bank wouldn’t do it!
Give me a break, are we really to believe this latest scam, if you buy that, I still have a “bridge here” over the mighty Miss Sip!

By: talktotennessee

talktotennessee — Sun, 10 Jun 2012 03:24:08 +0000

In reply to Robert Murphy.

Robert, When I read your story and those of others in similar situations I know that people deserve a second chance. I tire of hearing people say I bought more home than I could afford. In your case your health deteriorated, in others people lost their jobs. Many in the housing industry suffered severe loss of income. In my case, My husband died and I could not replace his income and was beginning to see the light when housing crashed my real estate business for a couple of years, long enough to lose everything including an inheritance my dad left me.
So there are people who deserve to have that chance to get back up.
What makes me angry is these same lenders liquidate these sales for 40-50% below the mortgage to liquidate but they won’t discount the loan for a homeowner having a hard time and they refuse to let bankruptcy judges (something we were promised before the last election) do it either. The Court’s hands are tied so if you try to keep your home by filing, you find not only must you pay full notes, you pay on all back notes too. You also pay attorneys and the court too. Most people can’t make it with Bankruptcy plans but the system makes money off you trying.
More power to you to protect what is yours, particularly if the bank is just going to give it away as REO bank sale to some investor to make his buck off your loss. Rental programs that everyone is now touting as the salvation for the housing market will last a round or two and when tenants leave the house in a mess, they will find it isn’t all that good a deal. Heaven help them they deny the homeowner who has an interest in his home to punish him or her for getting lost in this ungodly nightmare. . .

By: Joe Testa

Joe Testa — Sun, 10 Jun 2012 02:34:56 +0000

Robert:

I hope no one ever comes to dispossess you, but if they do I hope you have the kind of friends and neighbors that will stand in front of your door and forbid whomever entry into you home.

The demon banks and the legal minions will be revealed for who they are, hopefully soon. Know that there are many others who feel the same as you.

Joe