WildBill

Donna Baran-Fights Foreclosure

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Well I am interested in WildBills foreclosure cases. WildBill could you tell us about them?

I understand mortgages are sold, I understood that when I signed the mortgage. What I want to make sure is who I am paying, is it who owns the mortgage. If I am paying the wrong person I could still be foreclosed on. The banks created this problem not me by foreclosing on a single house multiple times by multiple banks. They even foreclosed on a man who paid cash for his house in Fl. he had no mortgage. Do you think there may be some fraud there? These are not isolated incidents. That is why 40 differnt state AG's are involved now. Do you think BofA would put a moritorium on their foreclosures in all 50 states out of the kindness of their heart?

If you want to keep paying your so called obligation go ahead. I hope you are paying the right person.

Why do you think the FTC ruled that a servicer is a third party collector?

That should put it in terms that this website is about. How many people on this sight have paid the OC just to have a third party collector say they still owe the money.

Consideration is one of the 4 elements of a contract. That is what I am talking about when I ask about fractional reserve banking. It has nothing to do with selling the note. Show me what thing of value the bank put up to make this a valid contract. In basic terms if the bank had $10,000 in there vault and gave me a mortgage for $100,000 where did the other $90,000 come from? Was it just numbers on a computer? I put up my $100,000 house for consideration ( something of value ) what did the put up?

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I haven't heard any answers from you AMORTGAGEMAN on the facts with facts. Please tell us who our obligation is to?

#1 I BELIEVE YOU ASKED THE QUESTIONS TO WILD BILL.

#2 MY OBLIGATION IS CERTAINLY NOT TO YOU, SO I AM NOT PART OF THE OUR IN YOUR QUESTION.

Let me set something straight here, I volunteer here with the knowledge that I have and the questions you are laying out have no relevance to the Donna Baran case. She tried and she lost. As a matter of fact, if you did thorough research on her case, you would find that her court battle was with the homeowners association and not Washington Mutual.

To answer your previous question, your obligation is to PAY THE MORTGAGE SERVICER. If you want to go into detail about what happens after you sign your mortgage and where the bank got their money to loan you for your home then I suggest you start a new thread, instead of hijacking this one.

If you have anything more relevant to this thread (Donna Baran Court Case), then by all means, add to it.

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Sharpy, you do ask some viable questions, and I am assuming that your real question is, "How do you know that when you pay your mortgage, that it is going to the proper owner of your mortgage?"

If this is what you are wanting to know then I suggest you send your mortgage servicer this Qualified Written Request preapred by Methuss.

http://www.creditinfocenter.com/forums/showthread.php?t=280456&highlight=Qualified+written+request

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I read this week where the Feds are requiring that several major mortgage companies re-imburse homeowners for illegal foreclosure . I think it was because of not being able to produce the necessary paper work which proved "legal standing" to foreclose, and perhaps false affidavits, etc. Maybe someone here can shed more light on this. Anyway, looks like the 'cat is out of the bag" !

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I read this week where the Feds are requiring that several major mortgage companies re-imburse homeowners for illegal foreclosure . I think it was because of not being able to produce the necessary paper work which proved "legal standing" to foreclose, and perhaps false affidavits, etc. Maybe someone here can shed more light on this. Anyway, looks like the 'cat is out of the bag" !

Namvet65 welcome home brother. I know you didn't get the welcome home that us Desert Storm Vets recieved or that you deserved.

That said I beleive the cat is out of the bag and the banks don't like it. Could you post that article, I think there would be some interest in it on this site. I don't think Amortgageman would like it. He may be right about a new thread for this, like banks/mortgage company fraud exposed. Sounds like a good title.

Thank you to all who serve and have served.

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Amortgageman, volenteering your time is commendable, if your intentions are to help people on this site. Simply telling people someone else on this site is wrong doesn't help anyone. This needs to be backed up by correct reasons and facts. That's what my questions to you have been on this thread, clarification of your statements that you made on this theard. That is why I didn't start a new thread. Double talk and side stepping question is just a waste of everybodies time.

For example just read this thread again and look at the questions I and others asked you for clarifications to your statements. Now tell me where the facts are.

Sorry you did give me one fact about the time limits on the Qualified Written Request 30 days and 45 days. Oops incorrect fact as shown by the actual RESPA section copied to this site to back up the fact.

Feel free to answer any of these question on this thead here or start a new thread for you answers. Just let us know.

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Namvet65 welcome home brother. I know you didn't get the welcome home that us Desert Storm Vets recieved or that you deserved.

That said I beleive the cat is out of the bag and the banks don't like it. Could you post that article, I think there would be some interest in it on this site. I don't think Amortgageman would like it. He may be right about a new thread for this, like banks/mortgage company fraud exposed. Sounds like a good title.

Thank you to all who serve and have served.

Sharpy, try this thread: http://www.creditinfocenter.com/forums/showthread.php?t=307308

As far as myself not liking it, let me put it to you this way, I absolutley love the fact that the banks and mortgage servicers are finally getting what is due them. Some mortgage servicers do a very poor job of taking care of a simple task within the guidelines of the law.

My personal background in the industry is a degree in Applied Mathematics and a degree in Economics. I worked as a mortgage broker for seven years, getting OUT of the business before the collaspe. I learned the business inside and out, and in the last eighteen months or so became involved in Mortgage Servicing Fraud, and learning as much as I could about it. After certain exposure to ongoing abuses by some lenders and mortgage servicers, I would no longer send them any loans, even if they were the only ones that could do a certain program I may have been looking for.

I took out Washington Mutual from servicing FHA loans with connections that I became acquainted with through the HUD offices in Atlanta, Georgia. Worst part of that story, was that it was myself that Washington Mutual was trying to mess with, but I knew the right questions to ask the Washington Mutual supervisor, and she admitted on tape recording that it was a blanket letter asking for Full Replacement Insurance Coverage on an FHA loan, that was force placed on my account. This is not required of an FHA loan, although I do carry it, and did so at that time.

I no longer work in this industry, but you seem to think I am someway affiliated with the industry, and I stand to lose a potential customer. You have it absolutely wrong brother, however, I did once own Fannie Mae and Freddie Mac stock, and still to this day believe in the foundation of Fannie Mae and Ginnie Mae, and Veterans Administrations underwriting guidelines which afford homeowners the opportunities to own a home. There was absolutely nothing wrong with these entities until our government forced toxic loans into the Fannie Mae system c/o Ben Bernanke and Goldman Sachs.

Ginnie Mae (FHA) would be in fine shape today as well, had the federal government not decided to raid the Mortgage Insurance Fund (think Social Security) and roll all excess premiums into the general budget. As a matter of fact, it was running so well, with so much reserve that Congress forced Ginnie Mae to issue refunds to homeowners based on the time they used Ginnie Mae money asnd later refinanced out of FHA or sold the property.

As far as correcting a mistake on the time limits for a Qualified Written Request, I simply looked back to a sample letter that I wrote on January 31, 2009 for users on this site, that is placed as a sticky in the Mortgage Fraud Section, and verified the information. As far as I know you searched on this sight and used one of my posts to learn it yourself, as I have replied on this topic at least twenty five times, helping others, and probably more than that.

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Its exactly the problem we have, and even worse..and the nutjobs are those like you supporting the system at hand, and worse, Shilling for it.

The debt is paid for, At Closing, with our signature.

The debt is then sold, banks are able to loan more money, and we are billed for a debt we just created with our signature and actually paid for, and pay it at interest, 2-3xs the amount of the money created.

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.'

-Henry Ford

Bill, your assessment is accurate, the account general ledgers show the true accounting just as you stated, fact is people don't want to believe it, courts will ignore it, and the fraud goes on. Some ignorant borrowers will say, You pay your mortgage each month like I do that's how it is done. Then low and behold, the mortgage is paid for 30 years and the borrower burns the mortgage note in celebration along with drinking a few beers. The next morning a process server knocks on the borrowers door and serves a notice of foreclosure. The borrower is dumbfounded as the summons is served. The real holder of the mortgage note has not been paid in 26 years. Borrower paid a servicer for last 26 years who had no rights to the monthly payments. This is what is at stake when the mortgages are all bundled up and sold repeatedly. This is what is at stake when Bank of America uses teenagers as Vice Presidents to robo-sign affidavits of debt and on and on.

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WASHINGTON POST ARTICLE:

"The federal government on Wednesday ordered 16 of the nation’s largest mortgage lenders and servicers to reimburse homeowners who were improperly foreclosed upon.

Government regulators also directed the financial firms to hire auditors to determine how many homeowners could have avoided foreclosure in 2009 and 2010.

Citibank, Bank of America, JPMorgan Chase and Wells Fargo, the nation’s four largest banks, were among the financial firms cited in the joint report by the Federal Reserve, Office of Thrift Supervision and Office of the Comptroller of the Currency.

The Fed said it thought financial penalties were “appropriate” and that it planned to levy fines in the future. All three regulators said they would review the foreclosure audits. Under the agreements reached, the lenders and servicers have 45 days to hire an auditor and will “remediate all financial injury to borrowers caused by any errors, misrepresentations, or other deficiencies.” There is no minimum or maximum dollar amount identified.

In the four years since the housing bust, about 5 million homes have been foreclosed upon. About 2.4 million primary mortgages were in foreclosure at the end of last year. Another 2 million were 90 days or more past due, putting them at serious risk of foreclosure.

Critics, including Democratic lawmakers in Congress, say the order is too lenient on the lenders. House Democrats introduced legislation Wednesday that would require lenders to perform a series of steps, including an appeals process, before starting foreclosures.

“I want to know what abuses [the government agencies] identified, which banks committed them and how their proposed consent agreement is going to fix these problems,” said Rep. Elijah E. Cummings, Maryland Democrat, the ranking member of the House Oversight and Government Reform Committee. “Based on what I have read … I am not encouraged at all.”

Sen. Tim Johnson, South Dakota Democrat and chairman of the Senate Banking Committee, said the agreements struck were a “step toward addressing the improper and fraudulent practices to which many of the country’s largest mortgage servicers have admitted.”

The other lenders and service providers cited by the agencies include: Ally Financial Inc., Aurora Bank, EverBank, HSBC, MetLife Bank, OneWest Bank, PNC, Sovereign Bank, SunTrust Banks, U.S. Bank, Lender Processing Services and MERSCORP.

Citigroup said in a statement that it had “self-identified” needed changes in 2009 and that it has helped more than 1.1 million homeowners avoid foreclosure."

END QUOTE

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In my opinion, those affected by illegal foreclosure should file suit against these guys...AND CLEAN OUT THEIR BANK VAULTS.

I had a conversation a few months back with a soldier of the 101st AIRBORNE at Fort Campell, Kentucky. HE HAD BEEN DEPLOYED TO GERMANY FOR 2 YEARS...had set up auto draft for his mortgage while he was gone. He had left all his possessions in his house including a 75 corvette locked up in his garage. When he and his family arrived home from Germany they of course went to their home, expecting to find things to be when they had left 2 years before. NOT SO ! their HOME HAD BEEN FORECLOSED ON AND SOLD...ALL THEIR POSSESSIONS INCLUDING THE CORVETTE had been disposed of and another family was living in their home. Well this guy didn't roll over...HE TOOK A BUNCH OF FOLKS TO COURT...the mortgage company had failed to properly credit his auto payments...HE SUED THEIR a$$-ETS OFF. He won a substantial judgement. The mortgage company was required to build him and his family another $250,000.00 house just like the one they had screwed him out of and was required to furnish the home as well( $40,000.00)...all the way down to the last fork and spoon....and to add a little icing on the cake...they were also required to pay him over $500,000.00 in punitive damages for the emotional stress and other related damages he and his family had endured !8-)

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WASHINGTON POST ARTICLE:

In my opinion, those affected by illegal foreclosure should file suit against these guys...AND CLEAN OUT THEIR BANK VAULTS.

I had a conversation a few months back with a soldier of the 101st AIRBORNE at Fort Campell, Kentucky. HE HAD BEEN DEPLOYED TO GERMANY FOR 2 YEARS...had set up auto draft for his mortgage while he was gone. He had left all his possessions in his house including a 75 corvette locked up in his garage. When he and his family arrived home from Germany they of course went to their home, expecting to find things to be when they had left 2 years before. NOT SO ! their HOME HAD BEEN FORECLOSED ON AND SOLD...ALL THEIR POSSESSIONS INCLUDING THE CORVETTE had been disposed of and another family was living in their home. Well this guy didn't roll over...HE TOOK A BUNCH OF FOLKS TO COURT...the mortgage company had failed to properly credit his auto payments...HE SUED THEIR a$$-ETS OFF. He won a substantial judgement. The mortgage company was required to build him and his family another $250,000.00 house just like the one they had screwed him out of and was required to furnish the home as well( $40,000.00)...all the way down to the last fork and spoon....and to add a little icing on the cake...they were also required to pay him over $500,000.00 in punitive damages for the emotional stress and other related damages he and his family had endured !8-)

Rightfully so, sloppy bookkeeping is a different story. Violation of the Servicemembers Civil Relief Act totally disgusts me, and it happens all to often. Those are different scenarios than Deadbeat Donna, who thought she didn't need to pay her homeowners association dues.

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