Mother Jones - Latest Comments in Can Anyone Stop the Predatory Lenders?

Re: Can Anyone Stop the Predatory Lenders?

debbie — Sun, 11 Oct 2015 13:43:14 -0000

I need advice : my mom passed away sept 6 she had reverse Mortage .I have taken care of her for years and disabled myself trying my hardest to find place to live.I also lost my husband last year and only have one income.I have good credit but short 20,000 on paying this back to them I have lived here off and on since age 5. I have kept up with all bills and now insurance and taxes are due again.Am I doing right by paying them for 6 months?Will that assure me that time to stay here until I can move?I have sent them my pre approved loan which isn't enough and all the other things they ask me too.Will I be able to stay here a few months if I do pay insurance e?

Re: Can Anyone Stop the Predatory Lenders?

precious mill — Wed, 01 Jan 2014 17:47:47 -0000

Good day.

I can't hide this great testimony that take place in my life I will love everyone to know it and be partaker that is why I always place it on answer, I am Mrs Precious Mill by name, I live in Texas, United State Of America, I want to thank (Mr.Isaac Robinson) for his kindness upon my family life.

I never knew that there is still nice lender like this on internet and earth here. Just some Months Back, I was in search for a loan of $25,000,00 as I was running out of money for feeding and rent. I was scammed $2,000 Dollars and I decided not to involve my self in such business again but a Friend of my introduced me to a loan firm due to my appearance and doings.

And I told him that I am not interested of any loan deal anymore but he told me that there is still a nice lender who he will recommend me to, and I made a trial and I am most grateful lucky am I today, I was given a loan amount of $25,000.00usd, by this great Company (Isaac Loan Company) managed by (Mr.Isaac Robinson) If you are in need of a genuine or legit loan or financial assistance and you can be reliable and trusted of capable of paying back at the due time of the funds I will advice you to, contact him via: isaacrobinsonloanlink@gmail.com And you will be free from scams in the internet.

All thanks to Mr.Isaac Robinson You are the one who remove me and my family out of poverty. The reason why i am doing this is that, i promise Mr.Isaac Robinson that if i truly got my loan, i will advertize his company and bring customers to his company. Contact him now at ( isaacrobinsonloanlink@gmail.com ) for the Loan you have been looking for..

Re: Can Anyone Stop the Predatory Lenders?

economicmythsandlies — Tue, 24 Dec 2013 15:12:47 -0000

I really feel bad for this Deanna lady, but I don't see much hope on the horizon. It would be nice if they actually started cracking down on these types of abusive practices. Unfortunately, these lenders give millions to our politicians so they are effectively immune from these laws. Heck, you can argue that they actually own the law. You will just need to focus on educating yourself and securing your home as much as possible. Companies like http://redwoodlock.com/ may help keep burglars out, but you need a great legal team to protect yourself from foreclosure by companies OcWen Loan Servicing.

Re: Can Anyone Stop the Predatory Lenders?

Deanna — Fri, 16 Dec 2011 00:09:05 -0000

I am the individual Andy Kroll is speaking of in this article. I would like you to know I am not living mortgage or rent free. I agreed to pay the 3rd party purchaser $1500 a month in rent until this is resolved. That is more than my payment was of $1200. I also agreed to pay taxes and insurance. This all on top of attorney fees is hardly a free ride. Perhaps you should do your homework before commenting on something you know nothing about!!!!!!!!!!!!!!!!!!!Deanna

Re: Can Anyone Stop the Predatory Lenders?

Lilly94127 — Tue, 01 Mar 2011 02:16:50 -0000

I've been in your shoes already. Nobody helped us. Every answer we received lead to a dead end. I wish you the best of luck.

Re: Can Anyone Stop the Predatory Lenders?

Lilly94127 — Tue, 01 Mar 2011 02:12:21 -0000

Since Americans have a reputation of owing China the most amount of money already, borrow some more. We can start by naming the U.S., CHINA as a first option then take out all the amendments that protect the people. I see a very bright future for China

Re: Can Anyone Stop the Predatory Lenders?

miracatta — Thu, 27 Jan 2011 12:59:43 -0000

You can find out who your servicer is at time of sale, but, as in my case, servicers can change two or three times after that. Or there will be no servicer at first, but shortly after you own the home the mortgage is then sold. There's really no way out except to pass legislation allowing consumers to "fire" bad servicers.

Re: Can Anyone Stop the Predatory Lenders?

GUEST — Sun, 05 Dec 2010 17:19:02 -0000

You seem to have your head in the sand. Not everyone used their home as a ATM, we didn't. Not everyone drives drunk, your metaphor not mine, we don't. You best hold on to that head of yours you may find yourself wondering what happened and maybe whining as you do wonder. If you are a creditor examine your practices, for a collector to call a debtor 9 times in a single day, that is "harrassment" and they are forbidden from doing it. Shake out the sand in your head and let some humanity in. On the fact checking end did you check any facts before you replied to this article?

Re: Can Anyone Stop the Predatory Lenders?

Pryoga1 — Sun, 05 Dec 2010 17:07:30 -0000

Hi It is 12/5/2010, Ocwen became our servicer on 9/1/10, we'd been given a modification through (Homeq prior servicer). Ocwen from the first day couldn't find it, talked about everything being okay not to worry... we finally got them to admit they had the mod on 9/22/10 we made 1st pymt on 10/1 which thet put in suspense, we continued to speak with them sometimes several times a day (in India) we were told that the Concerns dept was reviewing the matter. On Nov.1 we made 2nd pymt, that was posted to account, noticed that our statement says we are in foreclosure, they said "don't worry your new information will be updated by December statement". Ocwen was accepting payments and telling us don't worry. Many conversations later with no acknowledgement from them other than verbally that there was no active foreclosure, because the concerns dept was still reviewing on Nov 29, 2010 a Notice of Trustee Sale was posted on our door with a sale date set for Dec 27, 2010. November 30 I called their CEO, William Erbey, finally landed back in the US and spoke to secretary who says "Oh My" transfers us to supposedly someone who is "handling." Went to an attorney that says not to let them hold or continue the FC to tell them to "take it off calendar" or we will get an injunction to stop the sale. Thing is we have been making our payments every month, how is it legal for our property that we have owned for 20 years to get put up for auction? I called the FBI (white collar crime div) the California Attorney General, the Orange County District Attorney, Tony Ruckahaus,our congressman Dana Rohrbacher to no avail I filed complaints but because our loan is not FHA they have no jurisdiction. So we have to pay $7500 for an Injunction which may or may not work in stopping this fraudulent sale of our home. This is Fraud, Harrassment, Predatory Financial Practices, Theft, abuse of United States law regarding Banking and Consumer Protection. This is Theft in Plain Sight with a judge possibly siding with the bank even though we have made our payments according to our modification plan. We've paid $12,871 since August 8, 2010 which is 3 payments and a down payment on the new modification. What can be done? We know that we were already scammed by prior servicer by them loading a escrow onto our monthly which we did not approve but they imposed on us 1/1/2009. That raised our mothly from 2288.34 to 2976.18 at the exact time our economy was collapsing, our business is a job recruitment firm and with 15,000,000 out of work recruitment tanked until fairly recently. So we know wthat we were duped once with no one to assist us at Homeq. Now we are potentially 22 days away from our home being stolen from us. I know that this is happening to many people. We followed the laws, we paid them the money owed and on time .... and we are maybe going to lose our home...how can this be?

Re: Can Anyone Stop the Predatory Lenders?

A Victim — Thu, 04 Nov 2010 09:34:53 -0000

@ Anonymous - (posted on 2-13-10)

"I'd like to hope that this was not the usual experience. In any
case, it doesn't hurt to lean on your paid reps, and could help."

In response to your statement: I DID in fact contact my paid reps. Local government officials (some not in my district), Florida Senate and House Reps, Governor Charlie Crist, Florida CFO Alex Sink, Office of Banking Regulations, Florida DBPR, BBB in Florida and Texas, Texas officials, Tim Geithner's office, HUD, FTC, the servicer, and yes the White House (they probably have a large file of my faxes, emails, and phone transactions). I called, emailed, and faxed any and all offices I could think of.

I was relentless. My experience was overwhelming and consumed my every breath - all day every day. I blogged my situation on several sites in hopes of alerting others of what was happening, and in hopes of connecting with others that were experiencing the same thing. Little did I know that my situation was NOT the first and was NOT an isolated incident.

I then went to the State Capitol in Tallahassee and physically spoke with many of our elected officials, including Governor Crist (at that time he actually did hug me, but that was the last I have heard from him!) And every word went on deaf ears. But my efforts were somewhat shattered when Senator Bennett verbally attacked those of us rallying there about NOT wanting to stay in our homes. He flipped out!!! He was speaking to all us in a raised voice and defending 'how wonderful' the proposed bill of taking away OUR constitutional rights was. "Oh, so why not just let your neighbor lose their home????" "Have you ever heard of Deed in lieu of Foreclosure?" "Why would you even want to fight for your home?"

It was so unbelievable at the tone of voice that he took with us that our jaws literally hit the floor. We were so shocked at his attitude and behavior that none of us could even speak. We were then quickly informed of his major contributors - The Banking Industry!!!!! Enough said there.

Most people do not want to understand or hear that our 'elected officials' will NOT help us.

Our payments were current, we didn't buy more than we could afford, and we were both employed when the process server showed up a few days prior to Christmas with our surprise 'gift'.

As you can see, it is now 9 months after your post, but we are finally being heard. We are NOT deadbeat homeowners, WE ARE VICTIMS of this cruel and greedy game of the bankers, Wall Street, and some of our elected officials. A game in which the hard working American citizen is being thrown to the curbs of our land. Our servicer messed up our account. I called them for 11 months with no results - as a matter of fact, it was not until AFTER we were served with foreclosure papers that the servicing company finally figured out what had happened in our account. It took them a mere 10 minutes to figure it out. Yet I tried for nearly a year. Do you see the irony in that???

We are the ones that are following the law and rules. Why can't they???? If you or I walked into a court of law and lied or tried to produce a false document, what would the courts do to us??? You guessed it - they would immediately put us in jail!!! But somehow, the foreclosure mills and the lawyers and the banks/lenders are still able to go to court daily with their 'evidence' and not even get so much as a smack on the wrist. Instead, innocent victims and families are going homeless.

May God truly help those of us that are the victims and may the laws of our land be enforced.

Re: Can Anyone Stop the Predatory Lenders?

Soapstone93 — Sat, 23 Oct 2010 00:09:07 -0000

Wow! You're really narrow sighted and not very open minded either. I guess that you think that it's ok if the banks get a free house...even if they need to commit fraud. Do you work on Wall Street?

Re: Can Anyone Stop the Predatory Lenders?

Richard T Carr — Thu, 21 Oct 2010 05:07:55 -0000

Has anyone gotten a loan from Aapex Mortgage from Cosa Mesa, California from a man named Jason Piazza. I was quoted an amount for a mortgage to be $2,000.00 per month and at closing it was changed to an ARM with the note being $3700.00 per month. I was going to lose my $5,000.00 retainer if I did not go thru with it and then told by Piazza that I could refinance after 6 months and get a better loan. When I went to get the better loan, they said my house was not worth what I paid for it and declined me. My house went into foreclosure with David Sterns office taking hold of it and refused to even talk with me even when I had a buyer for my home. I ended up going thru bankruptcy in Feb. 2010. I don't have any money for a lawyer, but would sure like to find a class action suit against these people. I called David Sterns office one time and ask to speak to Mr. Stern and the lady laughed at me and slammed the phone down. If anyone reading this and can help, please email me at lhartley4@cox.net as soon as you can. I have been reading on David Stern's office and it makes me sick that I was screwed by this man living the life of a "King" in South Florida. Thanks, Richard T Carr

Re: Can Anyone Stop the Predatory Lenders?

LoriView — Wed, 20 Oct 2010 07:00:05 -0000

And government was created - WHY?

We the People of the United States, in Order to form a more perfect Union,
establish Justice, insure domestic Tranquility, provide for the common
defence, promote the general Welfare, and secure the Blessings of Liberty to
ourselves and our Posterity, do ordain and establish this Constitution for the
United States of America.

Re: Can Anyone Stop the Predatory Lenders?

Samlooksforward — Fri, 15 Oct 2010 21:22:41 -0000

After four years of getting NO calls through to Ocwen, having mortgage interest raised five times then lowered three and then raised again and then paying close to $80,000. to them to negociate a better more affordable monthly payment I am in foreclosure. I am a single mother of three children and when I was being thrown around no one knew what a subprime mortgage was. Now that its come to light and everyone is on board NOTHING is being done to help. I am far behind and hoped that since Ocwen is taking every penny of bail out money they can get their paws on they might negotiate the mortgage down to a reasonable payment...anything. No, I met them face to face in Boston last month only to be met with a curt "no" we won't even talk about helping you. They won't get anywhere near a good amount for the house if they foreclose and I asked why they wouldn't negotiate with me and he had no answer. They'd rather take the Obama money, throw me out and take less money for the house than negotiate something with the person they screwed around with in the first place. Sad. Is there a class action suit I can join????

Re: Can Anyone Stop the Predatory Lenders?

Lmchapmn — Tue, 17 Aug 2010 14:32:58 -0000

Someone I know just recently had their home go into foreclosure and they were one month ahead on their house payments. It has messed their perfect credit up. They got an attorney and are going to fight it. What else can they do? This is not the first time I have heard of this. What can we as Americans do?

Re: Can Anyone Stop the Predatory Lenders?

Lmchapmn — Tue, 17 Aug 2010 14:29:27 -0000

Until they take it away from us. Just like they are trying to the 14th amendment.

Re: Can Anyone Stop the Predatory Lenders?

Anonymous — Mon, 09 Aug 2010 12:06:28 -0000

Legal system, and the justice we think we will get.
Why is it, the attorneys, judges etc. have no way of being prosecuted for wrong doing?
One attorney in my county, made two trips to a Transition center, to write a new will . The attorney, was supossedly a friend for 20 yrs.
The gentleman in question, had been diagnoised with Alzyeimers by the doctor. The medicine he was given was all wrong. He was later found to have Parkinsons disease, and Lewy Body disease. The wrong meds. made him totally out of his mind. He is 86 yrs. old..
Come to find out, later in 2 court hearings, A neighbor had been put in as guardian, and was given total control by the judge. This happened, even though the daughter ask to be his guardian..
The Area on Aging had been called many times, to help me with this. They went along with the attorney and judge.
The gentleman was later declared incompetant, and is now in a nursing home, where the guardian went to his room, and said:" this room is where you will be the rest of your life."
The guardian has the nursing home all sewed up also, as the administor is a friend of the Guardian.
This patient and I have lived together for 6 yrs., and wanted to get married. When we applied for the license, it was stopped.
I am not allowed to visit him, nor write letters. He can't get his mail without it being censored, by the guardian. Up until recently, we were not allowed to call on the phone.
I am 75 yrs. old, and am now homeless. Jim had a will written 4 yrs ago, allowing me to live in the home for 6 months after his demise.
The new will that was written, while Jim was totally out of it, and doesn't remember signing anything, allows me nothing.

I am writing you, to see if there is anything that can be done about this case, or to help the elderly in the future. I did file a complaint with the Pa. Bar-Assoc... They advised me to get another attorney, as there were NO RULES governing attorneys and judges. This is not right! I thought, you had to be of sound mind to write a will??

Sncerely, Rose Pochron rosie575@yahoo.com

Re: Can Anyone Stop the Predatory Lenders?

jtenn — Sat, 20 Feb 2010 07:09:19 -0000

Abraham Ben Judea/ Elizabeth Warrens assistant...
Were that it really was this simple.

Re: Can Anyone Stop the Predatory Lenders?

anti_fascist_freedom_fighter — Wed, 17 Feb 2010 06:30:49 -0000

Why you will never get a loan mod.
Wake up. If it paid to modify your loan, the banks, the servicers, the investors would do it. The truth is almost nobody ever gets a loan mod. Everybody gets foreclosed upon.

It doesn't pay the investor to modify. I'll bet you dollars to donuts, if you can't get a mod (and virtually NOBODY gets one), your loan is backed by mortgage insurance. Either you paid for it, or the lender bought a separate policy behind your back. The lender bundled your loan, good or bad, into a "collateralized debt obligation" as the ink was drying on your note and mortgage. They got Moodys, Standard and Poors, and/or Fitch to rate this worthless paper as AAA. AIG, or some other scumbag insurer, wrote an insurance policy or a risk-management trade on your paper, shifting the risk of loss to someone else (who has now been bailed out by TARP, to pay the obligation on it). YOU don't see a dime. Anyway, your "lender" got repaid years ago when they sold the CDO to the investor. Now the "investor," who is hiding somewhere behind the "servicer" wants to foreclose. The Investor would have bought these notes at an "investor's price" less than 100 cents on the dollar. or today's holder of your note might have bought your worthless "toxic asset" paper from the original investor for fire sale prices, say, five cents, or maybe twenty cents on the dollar. Whoever the "investor" is, if he just forecloses, he will probably get back more than he paid. He might even double his money. If the mortgage insurance is still in place, he might even be reimbursed up to 100 cents on the dollar of the original loan obligation.

The OBAMA PLAN, Hamp, etc, are all FAKE solutions, which no banker, investor, note holder has to comply with. It's all voluntary on their part, and a waste of time on your part, which they only do to get TARP funds. For the most part, any time you accept a "three month trial plan" you are getting skinned - every payment you make is to the servicer, not to whoever holds the note. You are paying the fees the servicer might have not otherwise received. Nice of you, says the servicer, as they will then find a reason to reject your modification after the three months expire... the Jokes on you!

It's all the ongoing coverup of the biggest PONZI Scheme in history - a massive fraud on homeowners and the US Taxpayer.

Re: Can Anyone Stop the Predatory Lenders?

unionave — Mon, 15 Feb 2010 07:32:37 -0000

THE FIX
All that is necessary to take care of this situation is for a few judges to rule that the occupier is in possession and without obligation to pay . Problem solved ! The end of Predatory lending . That may even be the end of lending .

Re: Can Anyone Stop the Predatory Lenders?

Anonymous — Sun, 14 Feb 2010 23:35:32 -0000

Your Grandchildren
Nice to see you're an optimist, but I don't think your grandchildren will live long enough to have any opinion about your actions.

Re: Can Anyone Stop the Predatory Lenders?

Anonymous — Sat, 13 Feb 2010 07:17:08 -0000

Illegal foreclosures and evictions
It is amazing how many poor souls who have been screwed by
these filthy predators try to fight their desperate battles alone.

If homeowners would just contact their elected representatives,
they could cut through the red tape a lot faster.

We pay our US Senators and Representatives, so why not use them when we need help? Their offices all employ constituent
staff to deal with problems. They LOVE helping constituents,
because it translates into votes.

I notice that "Puleeze" went that way, but had a bad experience with John Tierney's office, and -- from what P. says -- not much
action from the other officials.

I'd like to hope that this was not the usual experience. In any
case, it doesn't hurt to lean on your paid reps, and could help.

And please don't say that you don't know who your elected reps are. Their name, phone, fax and email should be next to your computer. If you don't know, FIND OUT.

My heartfelt good wishes to the innocents who are being screwed by the system. Let Obama -- the so-called "leader" know that you expect ACTION, not lofty rhetoric!

Re: Can Anyone Stop the Predatory Lenders?

ms. doubtfire — Fri, 12 Feb 2010 22:24:23 -0000

a lot of your words resemble the minds at:
http://livinglies.wordpress...

Re: Can Anyone Stop the Predatory Lenders?

Trollstein — Fri, 12 Feb 2010 21:56:44 -0000

BTW: The FDIC has different criteria for rating loans to public companies then to private ones (and individuals). Since the banks pay their FDIC insurance rates based on the overall 'book-health' of their loans, the deck is stacked against the independent. To add gross insult to profound injury, a public company can loose millions whilst paying their CEO millions more and no personal guarantees exist to support the loan(s). So the banks then refrain from defaulting public companies and they even refrain from breaking Wall Street balls. With a private company, the bank can easily reach a stage where they wish to INDUCE a default---because they see the repay faster and easier from the guarantor then to wait around and risk any depletion of assets. So, you're entirely right--borrowing is a business. The lender is the supplier of credit and is morally no superior to the cable TV company. It is no 'holy sacrament'. The real difference is that the banks use PUBLIC money, both from depositors and from the FED, to heavily amplify their leverage and power. That is the true moral crime.

Re: Can Anyone Stop the Predatory Lenders?

Anonymous — Fri, 12 Feb 2010 21:45:17 -0000

Can anyone stop predatory government?