Comments on: Michael Olenick | How Servicers Lie to Mortgage Investors About Losses

By: To Tell The Truth

To Tell The Truth — Thu, 14 Jun 2012 17:36:22 +0000

Does any one have info on the chapter 11 that GMAC and its many companies have filed? How is it affecting your foreclosure? Did you know that they, the servicers/banks are listed as the debtors and NOT the creditors? That it is the homeowners that are listed as the creditors on their balance sheets etc? And can participate in the bankruptcy? This they dont want you to know!!!!

By: ruth ann traci

ruth ann traci — Tue, 12 Jun 2012 05:08:51 +0000

it does absolutely nothing to call them on anything! it isn’t a matter of not wanting to try too hold them accountable, it is a matter of they hold all of the cards! the Government protects all with the exception of the homeowners/investors the banks are paid back and still we hear how much this is costing everyone! This is all old news! SOS nothing changes! only a few winners, two whistle blowers, one on robo signing and two on appraisals! the homeowners just have lost it all, a few lucky ones that still have a job have been able too move on! many not so fortunate

By: lies is all they tell

lies is all they tell — Mon, 11 Jun 2012 21:55:42 +0000

lies is all they tell says:
June 11, 2012 at 5:45 PM
well of course Faith, have to keep us down and keep them growing. aslong as they continue to own congress they will continue to keep contributing. think of this tidbit i learned researching my foreclosure. wells fargo states fnm is my investor who is in government recievorship right? i read in a ILLINOis bankeer association meeting that fnm never assigns mortgages. not even before fore closure. we can go over a few possibilites.
when the mortgages are sold to an investor the original promissory note becomes null and void it is no longer a negotiable instrument. it become non-negotiable instrument. now think about it if they assign a note of a null and void note it is fraud on the court right? but how can they fraud themselves???? strange thought. now take wells fargo, chase, BOA, they file assignments not when they should before the trust closes if it is even in a trust but a few days before foreclosure or even after the foreclosure is filed. they dont care at least 90% of the homeowners think the bank still owns their mortgage and walk away or try to negotiate a modification. lied to told to default, denied a modification and foreclosed on by the dual track. i wonder if there is back door agreement with fnm and fdnc that when the back receives the CDS insurance and sell the home they get a %???? athought any way you have to think
PLEASE CORRECT ME I AM WRONG
PLEASE HOW DO WE GET THIS OUT TO THE PUBLIC EVERYONE IS AT RISK

By: Pamela Edwards

Pamela Edwards — Mon, 11 Jun 2012 18:03:00 +0000

They took us and the investors no change of pace SSDD and will continue to do so because we the people allow them to.When ALL people stand up to fight this then it will change.Till then ,not happening.Everyone has to be on the same page to bring this about.Not all people want to be involved with this.Enough said.

By: Stan

Stan — Mon, 11 Jun 2012 16:00:58 +0000

It should bequite obvious way the wanyt to foreclose over other options. If you have securitized the loans numerous times to may different parties, it would be very difficult to have to make all those parties whole when you con is discovered. So as in the movie, “The Producers”, you want to make the venture fail and tell everyone it wasn’t your fault. You foreclose. No one asks any question because the loan went bad. You collect from the government, default swaps, sale of the property, you name it, and no one is the wiser. Perfect ponzi of all times, until people get wise and call them on it. It only works when you control the courts and the government regulators, which so far seems to be the case.