Is this Mortgage Servicer Story True?

no_vaseline_IHB

no_vaseline_IHB

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And if it is, how do you avoid it?



http://mortgage.freedomblogging.com...llion-homeowners-faced-foreclosure-this-year/



OCTrojan Says:

November 7th, 2007 at 10:32 am

??most have not lost their home to foreclosure, as they have found solutions to their mortgage woes.? What a load of BULL.



I?m currently working with a homeowner who is going through HELL right now. Here?s the story:



1. She?s a subprime borrower who bought her home in 2006 and paid electronically from day one - automatic debit



2. The original bank went bankrupt and sold the loan to a ?Big bank?



3. ?Big bank? claims that she never made a payment, they have no proof so they will foreclose - she receives NOD



4. She calls the servicer, of course, servicer also went out of business, so she continues to try and work this out with Big Bank - banks says that unless she?s current on her loans, they?ll foreclose



5. She calls her gets proof of the automatic deductions from her checking account and sends that to the ?Big Bank? - no response



6. Big Bank refuses to answer her phone calls for 60 days - she?s frantic



7. Foreclosure sale completed, home now a REO



Big Bank says this is not their problem, the problem is between borrower and the servicer who accepted her automatic debits but did not record those payments.



Wait for it? it gets better: while the home was in ?foreclosure?, her checking account was still being debited monthly!



I don?t know how widespread this problem is, but I suspect that all the borrowers who were paying through that servicer are screwed. And if the servicer ?went out of business?, who the heck is receiving this money?"
 
<p>Did you change your name to No Vaseline after this "Big Bank" took it all to use on the borrower? ;)</p>

<p>Tough story.</p>
 
No, I'm no_vaseline everywhere. I'm not from OC, and I absolutely didn't go to USC. My alma mater did, however, beat USC in the Freedom Bowl the year I graduated from college.
 
Maybe when the "Big Bank" loses in court, they can just reach into their "Big Bag" of REO's and give her one....or two. "How about this one"? "No? Howzabout this one".....etc., etc.
 
from the information you provided, your borrower will likely get a very large settlement. Just make sure she get an ethical attorney...
 
<p>I would IMMEDIATELY sue all noted people. By the end, i would personally own each and every single one of them.</p>

<p>On top of that I'd would make it my personal mission in life to serv them with the court papers in person. Just to see their faces.</p>

<p>Stuff like this really burns me, people do the right thing and they only get burned. People who are half a step below slime get a bailout... Its just not right.</p>

<p>-bix</p>
 
this sounds like the type of a story the press would love. its still hard for the public to paint homeowners as anything other than innocent victims in this whole housing debacle, but heres a story where the homeowner really has done no wrong and there's a big bad bank to blame.
 
acpme - You're right, it does sound like something the media would want to jump on, like you said, as a way of humanizing the situation. A common saying in journalism is "comfort the afflicted and afflict the comfortable." Any surprise then that many journalists are left-wing?
 
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