More bad news on top of years of bad news!
We were SO hopeful that this last modification effort would work out for us...but how could it with a bank that fronts itself as such when in reality it's nothing but a collection agency with 80% of its employees outsourced in Indonesia and India?
Yep...help is mighty cheap there. OcWen buys up troubled assets and has doubled it's earnings in recent years. Servicer's make MUCH more money on foreclosures than they do on performing loans. So they have absolutely NO inducement whatsoever to work with struggling homeowners. Greed has reared it's ugly head once again!
In FACT...an article just recently released in Salon.com says it SO well with their headline...Your Mortgage Documents are FAKE!
This is about the mass fabrication of mortgage documents in state courts by banks attempting to foreclose on homeowners.
Why DID they do it.... we all ask? Was it just cheaper to mock up documents than provide the real ones? Did the banks think they simply had enough power over regulators, politicians and the courts to get away with it....looks like they were right on that one!
A newly unsealed lawsuit which banks settled in 2012 for 95 million actually tells the REAL reason.
That lawsuit states that banks resorted to fake docs because they could NOT legally establish true ownership of the loans when trying to foreclose.
This reality which banks didn't contest...because they couldn't but instead settled out of court with the government's help...means that tens of MILLIONS of mortgages in Americas STILL lack a legitimate chain of ownership that could have implications far into the future...late or NOT late on your payments!
In 2011 a lawsuit was filed in US District Court in both North and South Carolina by a white-collar fraud specialist named Lynn Szymoniak on half of the federal government, 17 states and 3 cities. Twenty eight banks, mortgage services and doc processing companies are named in the lawsuit (our servicer Homecomings/GMAC/Ally was one of them...this is ALL the same company...they just change their names when they get in trouble and jump right back in to biz as usual!)
Lynn fell into foreclosure herself in 2009, researched her own mortgage doc and found massive fraud. She pieced together thousands of docs, enough to piece together the entire scheme.
The article goes on to explain that your mortgage has 2 parts...the promissory note (IOU from borrowerer to lender) and the mortgage which creates the lien on the house in case of default.
During the housing bubble, banks bought loans from originators, and then enacted a series of transactions that would pool thousands of mortgages into bonds, sold all over the world, to public pension funds, state and municipal governments, and other investors. A trustee would pool the loans and sell the securities to investors, and the investors would get an annual percentage yield on their money.
In order for this to work (securitization) banks purchasing the mortgages had to physically convey the promissory note and the mortgage into the trust. The note had to be endorsed like an individual would endorse a check and handed over to the document custodian for the trust with a 'mortgage assignment' confirming the transfer of ownership. This had to be done before a 90-day cutoff date with no grace period beyond that.
Lynn's lawsuit contends that these notes, as well as the mortgage assignments were NEVER delivered to the mortgage backed securities trusts...and that the trustees LIED to the SEC and investors about this. As a result the trusts could NOT establish ownership of the loan when they went to foreclose forcing the production of robo-signed and fraud riddled fake documents!
All of the foreclosure mill attorneys saw this as a most EXCELLENT pay day for them and cranked out false documents 24/7...Attorney David J. Stern..one of the most infamous worked on our foreclosure action. It had a robo signed affidavit and worse yet another robo-signed Assignment placed into land records AFTER the bank served foreclosure on us...two hard working people that THOUGHT they were saving their home!
This is called dual tracking...telling the homeowner they are working with them to save their home...but lying to them and moving the house into foreclosure even as they are taking payments.had already decided to stop taking our 10 months of monthly trial modification payments all along.
Once they had their crooked ducks in a row with their bogus documents (and it took them 10 months) to get them together...they just refused that current months payment and said...HEY idiots...you are OUT!
They made one crucial error though in their haste and their paperwork log jam...they placed the fraudulent robo-signed Assignment of mortgage into land records a full FOUR years AFTER the mortgage was closed AND even AFTER they had already served us with the foreclosure action!
If THIS doesn't prove they were covering their malicious A** I don't know what would.
Now Lynn Szymoniak...God bless her crusading soul was a VERY smart little woman. She was asking for a trial by jury...exactly what I've been saying SHOULD happen on every single defended foreclosure in the country. This is because if our fellow homeowners were subjected to the crimes that have been rained down on their neighbors (I'm talking about the ones who made EVERY effort to keep paying their payments and save their homes...but the banks made that impossible) this whole cover up would have NEVER happened and it certainly wouldn't STILL be going on some FIVE years later!
But...the government...knowing what a powder keg this would be intervened in the case and settled part of it in 2012 getting 95 million from the five biggest banks in the suit. But the underlying evidence was never revealed until the case was unsealed recently.
They probably thought this S***storm would long be over within a year. NOT!
Lynn (heaven bless her soul) won 18 million and I'm sure that was intended to be 'shush money' but instead she opened up a non profit called Housing Justice Foundation.
This does my heart good when I see a crusader who just will NOT lay down! I'll be contacting her later today. I honestly and truly KNOW that these greed mongers are doing their BEST to steal our beautiful home with a pencil and a pretty decent copy machine!
Here's the rest of the Home Tour:
Here's our sitting room off of the master bedroom. Color scheme of smokey blue and chocolate brown carries through.
These cool leather chairs came from the consignment gallery and I use them for head chairs at a long table when we entertain. they work out great!
I love this old champagne vintage table. The tray lifts off and it has beveled glass insets and has doors that open from both sides. Small and interesting!
I have books EVERY WHERE....here's another of my MANY bookcases. I could start my own library!
Yet another reason...I HATE the thought of being cast out of our house..the whole system SUCKS! If this were you or me that perpetuated this kind of criminal activity our new address would be PRISON STREET USA!
Here's our master bath. It's large and bright..has a lot of cubed block windows in it. I know those will eventually date the house...but I like them...so that's all that matters right?
Also the curtains are VERY cool! I cut a bamboo stick in half for the two windows then got this cool gauzy fabric (curtain panels) laid it out length ways and folded the top edge down to make a valance of such...used pinch clip rings and strung those over the bamboo cane to become very different and interesting window toppers. I added some cool shell accents and wa~lah....window treatments!
I have this same idea in the leisure room over bamboo blinds. Very simple...inexpensive, different and cool~s~ville!
A cute little motif over the master tub...I love these jointed little giraffes..I have one here and one in the living room. So much cuteness!
More storage in the loo~
Love the glass block...I'm not the least bit tired of it and we've been in the house 11 years...I guess when you like something...you like it!
Here's a shot from the sitting room across the atrium into the kitchen. As I've said before a very cool connector that helps traffic flow.
A shot of that cool old secretary that I rehabbed by adding cheetah to jazz it up. This is the hallway coming in from the laundry room from the garage.
Our laundry room...this is one of the few rooms that still has 'builder white' walls...will they stay that way...or will we get to remain in our beloved house so I can paint them. And if I DO paint them...what color? We had the cabinets and the laundry hang bar added.
Here's a little wall art in there to add at least SOME color.
Here's a shot of the hall bath. If this house has ANY flaws...it should have one more powder room bath downstairs. When we have big crowds sometimes the hall bath is busy and people tend to wander into our master bath...I'm not such a big fan of that! Okay...call me a germ~o~phob...I just don't really like people in my personal space in such a personal way..lol!
But you can't very well post "No Trespassing' signs there can you?
Okay here's a shot of the front of the house. I could go on and on...never get tired of talking about this great gift and creation of ours...but enough...really IS enough!
Stay sparky my friends...and keep your fingers and toes crossed for the 'save our home' fight...I'm contacting Lynn today!
What an awesome advocate to have on our side!