Comments on: Freddie Mac Sells $130 Million of Seriously Delinquent Loans to Goldman Sachs Subsidiary MTGLQ

By: banksterwheel

banksterwheel — Fri, 03 Jun 2016 16:51:12 +0000

In reply to Iam Lazarus. Could you elaborate Lazarus? I am in a situation where my BofA (originally Countrywide) loan was modified with the National Mortgage settlement. After a few months into the new agreement BofA neglected to remove an escrow accounting error that made my payment almost double. I continued to pay the agreed upon monthly payment. BofA was holding the payments until they matched the full amount. I spoke to every dept. at BofA to try and clear it up. NO resolution! Then a few months later my loan was sold to Selene Finance (a non bank servicer) without any of the documents relating to my history with BofA including my recent modification. Selene is claiming I owe them an absurd amount in missed payments and penalties etc. I sent them several QWR with no response. They then filed for foreclosure in SC court. I have hired my own attorney and we have filed our own suit. Any advice on dealing with mortgage "debt collectors" in court? The lawsuit was filed by the trustee of BCAT***. The trustee has since sent me a letter stating they have a minimal role in the lawsuit? None of it is sitting well with me.

By: Iam Lazarus

Iam Lazarus — Fri, 03 Jun 2016 15:38:01 +0000

Debts previously “dishonored” are in default … and, cannot be sold to anyone who thereafter had authority to use the “power-of-sale” clause in the deed of trust to foreclose “non-judicially.”

Entities purchasing defaulted debts are strictly considered as “debt-collectors” and without authority to foreclose non-judicially. Debt-collectors must prove the transaction and their right to collect on it by lawsuit.

By: Marilynn Petrella

Marilynn Petrella — Fri, 03 Jun 2016 14:13:02 +0000

So who in their right mind buys something broken? If they do how much are they paying? How would they explain to the share holders about their dissension choice, and how will that purchase enhance their ability to make money from a bad investment? LOOK everyone that reads this must be somewhat of understanding let me give you an example, “you buy a car that has a blown engine for the same price as a used car, but it shine better than the used car in the parking lot. that car has been for sale for 6 months. You replace the engine at a cost, then put a for sale sign on it in your front yard, when and how are you going to make more than you invested. This bank buying bad loans SMELLS like the fish I caught and forgot it in the trunk of my car, yup it smells even after you wash the trunk????