Comments on: Freddie Mac Sells $1 Billion of Seriously Delinquent Loans

By: Monique Hibbs

Monique Hibbs — Thu, 17 Aug 2017 15:00:40 +0000

I am one of these borrowers. A single struggling mother in disability. Wells Fargo illegally forced place double wind coverage and drafted it out my escrow $4500/year for 5 years when I was already paying Allstate Louisiana Citizens wind $900/year for sale coverage. Wells Fargo charged me 4 times the going rate! They did this 5 years! $4500 x 5 years = $22,500 OWED BACK TO ME PLUS COMOUNDING INTEREST! Wells Fargo forced me into a predatory loan modification in 2009 and started this escrow in 2009 odd because it wasNOT signed by me until February 2011. Unbeknownst to me Wells Fargo shut off my statements and robbed me blind with penalties fees and compounding interest and I closed in February 2011 with a -$14k in escrow. Furthermore this predatory illegal loan sharking loan modification was to include $1500/year in flood insurance. They paid 2009-2010 policy out my escrow and I’ve been paying it to Wells Fargo for 5-6 years. The great flood of 2016 hit in August 12 and I called to file a claim and Wells Fargo refused to give me my policy number and agent. After research I learned Wells Fargo FAILED to renew it 5-6 years ago so where is my $1500/year x 5 years = $7500 ??? In my escrow??? NOPE its vanished! My monthly note after predatory modification was jacked up to $2400/month, in which, only $90 of that was paid to my principal the rest went escrow & interest. Idk how I cracked that not but I did. It was recently lowered to $1600 which it should have been all along. A friend suggested I get online to view my mortgage statements I didn’t know I could. I did there are numerous missing statements, advances $999to whom? Where? Why? Not me! I applied payments $999 the paper trail is chaotic! I have them on several counts of fraud beyond a reasonable doubt. I need help they must be exposed stopped n brought to justice. Now they are declining me for another modification and I’m in foreclosure. I put down my life savings on my dream home $100k cash n now Big Bully Bank Wells Fargo Mortgage is trying to steal that from me too! They sent me a settlement offer of $25K but it was all about a gag order confidentiality statement and releasing them of any and all past present n future claims n liability. Well needless to say I did NOT sign it!

By: Elaine Williams

Elaine Williams — Tue, 11 Oct 2016 01:18:12 +0000

In reply to elliotnessbaum.

Here is the problem Elliot – rooted in foreclosure, in losing your home is a very deep and abiding shame. We are pretty much a collective rape victim – we know it wasn’t our fault but we are still deeply ashamed over what happened to us. We were powerless but that doesn’t matter. Most people view us as deadbeats who just wanted a free house. You can’t really talk to anyone about this – unless it has happened to them. I lost five years of my marriage, our 401k and no one in my family (I am the youngest of 9 yes NINE) is speaking to me over the loss of the family property. At the age of 61 I am living is a small house with my husband and his mother. My life is and will be fucked until the end of time. If banks like Well Fargo can still be in business despite the massive fraud they perpetrated what makes you think any of us will see justice in our lifetimes?

By: elliotnessbaum

elliotnessbaum — Wed, 05 Oct 2016 21:51:02 +0000

At this point in our history we all know that pretty much all of these loans circa 2005-2008,are pure make believe garbage,and every land mark case gets treated the same way,every borrower gets treated like garbage x10,so in reality not one of these garbage products has accountability.

Why is that?Well here in the territory formerly known as The United States Of America judges and lawyers have all the power to screw us,steal our money and our property,so please don’t think that just because you read it on a blog somewhere,and even if its factual it 98% will do zero to help you get justice.

Don’t think the show that congress and Wells Fargo have been putting on for us Consumers is anything more than just that a show.
They have found a way to get rich,get what they all want and slowly destroy the American economy,the people,and the will to do better and share the spoils,those spoils are now reserved for a select few and they make no bones about it.
When y’all get tired of pussy footing around and get organized 1 or 2 million bodies per state,walk in to your capital building and tell em all that they can go,that they are no longer needed,and get some balls about us.

WILL NOT STOP OTHERWISE.