Posts
You have to love this….
WaMu/JPM tried to evict someone (foreclose) when they not only didn’t own the mortgage at the time, they NEVER owned it!
The Judge got pissed, and well, go ahead and read the rest. Note that it appears that the lawyers in the case knowingly filed false pleadings. That is, they didn’t make a mistake, they intentionally misled the court – and got caught.
Now if she had just sanctioned those jackals……..
Incidentally, this leads to another question, and this one is kinda ugly:
Have we had BANKS that have taken title to homes in this fashion when they never owned the note, and thus they now have literally stolen via fraudulent legal process property that actually belongs to someone else?
That’s an interesting question, isn’t it?
Pocopanni Order Dismissing With Prejudice
1 comment:
This is not new-nor is it surprising. This scam of 'Servicing' companies, often an offshoot of the actual lending bank (developed for the sole purpose of billing extra charges to the mortgagee-and causing default), continue to represent themselves as the mortgage holders. Nearly always, they do NOT hold the mortgage-and have NEVER held the mortgage. Because of the practice of bundling and selling mortgages, there is no actual recorded holder of the mortgage, the lending bank having already been paid for the note. Often the actual mortgages have been split, sold and resold several times without notification to the property owner-in violation of the law. Discerning the actual owner is impossible as the mortgage becomes a part of several bank's fund offerings, often overseas. Existing law gives no way to resolve a default situation as only the true mortgage holder can sue for foreclosure-and the true mortgage holder cannot be determined. These large mortgage banks have invented paper trails out of whole cloth, involving forged signatures, 'second mortgages', etc-all in-house without the knowledge of the buyer. A judge in Cleveland actually called this behavior by Wells Fargo a RICO scheme designed to destroy the property values of entire neighborhoods. Under these circumstances, which involve likely the majority of mortgages ostensibly held by the big mortgage banks,any honest judge should do exactly what this judge did: there is no real mortgage holder and therefore no legal basis for foreclosure. If judges were to continually refuse to find judgment for these 'servicing' companies, this scam would clean itself up! And homeowners would stay in their homes, regardless of ability to pay. The true losers would be foreign investment firms who were dumb enough to buy into these REIT funds. The resulting losses would force the banking/investing industry to clean up their act.
Post a Comment