Comments on: On a Roll: Nationstar’s Mortgage Mess Nearly Costs Public Defender Her Home

By: Tom

Tom — Wed, 26 Oct 2016 13:37:13 +0000

So here we go again with another mortgage company getting caught trying to swindle someone out of their home and they turn around and blame it on an off-shore company for mishandling it.
Isn’t that pretty much the same as Wells Fargo getting caught with their scam creating the 2 million customer add on accounts that their customers didn’t know about, and then blame it all on low level employee’s?

Nothing will ever change until their so-called mistakes are dealt with real severe consequences.
How about once they get caught, the top executives that are paid millions to make sure their company’s are following the rules, how about if they immediately get fired, have all their assets seized for restitution purposes, and jailed for a minimum of 30 years.
Once real severe penalties are put in place this BS would stop!

By: Bruce Broyles

Bruce Broyles — Wed, 26 Oct 2016 13:35:19 +0000

What typically happens in this situation is that the mortgage company will pay the real estate taxes in a lump sum to avoid the foreclosure, add the lump sum as an escrow shortfall, and dramatically increase the homeowner’s monthly payment to correct the shortfall. The homeowner normally does not have the money to pay the real estate tax out of pocket. In addition, the homeowner will stop making monthly mortgage payments until someone explains where their money is going.

Eventually, you get to the trial court with the Homeonwer representing themselves to clear up this simple matter, and all is lost. Again, but for the ability of the homeowner to pay and fight about it later and the publicity this would have ended much worse.