Bagels at a Bar Mitzvah

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moretrouble

LoanSafe Member
Nov 14, 2009
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Many of these judicial foreclosure suits are filed on behalf of 2003 -thru 2006 trusts. Why would the servicers, trustees wait 10 years or more to file? There are two reasons: 1/ to inflate the profits of the master servicers (balance owed going up and balance reported to trusts being paid down); 2/ these sub-prime trusts are being called and the servicing will be transferred the current master servicer (Ocwen) will lose control, and 3/to run out SOL on financial/origination fraud claims.
 
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moretrouble

LoanSafe Member
Nov 14, 2009
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Survivor_IN

LoanSafe Member
Jun 2, 2008
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This has been on the evening news for the past few days. Imagine, my eviction comes and I will have a chance to expose the frauds of BOfA and Ocwen on TVs.
Protestors in Portland are definitely ones for making statements! My city has revolved protest issues, the ongoing downtown memorial is now working on fighting city hall. Getting a citizen review board. Appears they have back door deals, cover-ups, missing evidence, etc. its all in there. I'm just glad all those private militias went home and didn't get their civil war. That was creepy.

So far here, we have very few evictions due to court and COVID restrictions. The tides will tip in January because most housing assistance expire at the end of December 2020. No hearings scheduled on foreclosures unless they are already vacant. Gentrification IS a real problem and my children can't afford the rents locally. (Cost of college is a problem too fyi) So many higher priced, otherwise ordinary real estate being purchased from out of towners and investors. If this "global" influence weren't in the market, prices would be more affordable. Quite frankly, I don't appreciate the city selling a block to Chinese investors. (Sorry not meaning to sound racist, but why are we selling our city to foreigners? This is adversary to home ownership base needed for a healthy city.) Because of this back-handed deal, law enforcement was told to "clear it out." This is gentrification gone very bad. So many ways to steal equity.
 

moretrouble

LoanSafe Member
Nov 14, 2009
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The investor who bought the house at auction paid $260k. The house is worth $650k . He was going to make a killing on the deal. Beneficial was a subsidiary of HSBC. The system is set up for investors. Maybe I have to contact those militia just in case.:) . Those city officials who sold the whole block to Chinese investors got greased up by them, they didn’t care.
 

moretrouble

LoanSafe Member
Nov 14, 2009
1,563
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Real estate is the only game in town that generates cash flows because we don’t make anything anymore. That’s the Fed policy to bail out investors, banksters, and local governments. (Keep rates near zero, make subprime bonds good, inflate house price, higher property tax, and banks own the Fed). Tax payers and homeowners bear the burden. That’s why I rather be a nomad,won’t ever be a slave again . Survivor_IN, your and my kids and grandkids will be paying for 3 trillion bank bailout result of the Fed buying out the subprime bond investors. People don’t understand and the crooks are counting on the ignorance. I respect the the protesters to make their cause known. They can easily repay the loan, the house is worth much more the the loan ($650 v.approx.$100k).
 

moretrouble

LoanSafe Member
Nov 14, 2009
1,563
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People don’t understand about the Fed printing money. They think it is free. It’s free for the banks and investors who can access the funds but not to us, the ordinary workers and tax payers. If it were free why stop at 3 trillions why not print gazillions of dollars and make everybody a billionaire? We pay in terms of higher prices and lower expected retirement income (if you have 1 million to retire you were expecting $60k in annual retirement income, now you get $600 that forces to gamble in the stock market). The renters pay in higher rent, due to higher house prices. Come at time in the future when the tax payers are taxed out, no more money to pay, people realise the scam, the bonds are worthless then the ssss will hit the fan. Nobody going to save us, even the investors and the Fed.
 

Survivor_IN

LoanSafe Member
Jun 2, 2008
308
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The investor who bought the house at auction paid $260k. The house is worth $650k . He was going to make a killing on the deal. Beneficial was a subsidiary of HSBC. The system is set up for investors. Maybe I have to contact those militia just in case.:) . Those city officials who sold the whole block to Chinese investors got greased up by them, they didn’t care.
Yeah, it's a shame the homeowners could not work this out and keep their property. I really don't think the banks care any more what housing prices are worth when they extend predatory loans. They can always manipulate the market to get their money back in the future, wait it out (or get bailed out by feds) ... while denying the homeowner a refi based on new equity. It's almost as if "certain" homeowners are indentured servants. I just wished I had the money to take advantage of all the low rates so I too could flip a house for 3000% profit!

PS Be careful what you wish for... You may find those militia a little radical! lol
 

wanda robo

LoanSafe Member
Sep 29, 2012
3,964
643
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NJ
I've been VERY messed up the last couple of months & since I'm coming down the home stretch, now is the time to share.

I've been house hunting since Lone Star decided not to renew my lease. House hunting sucks.Worrying about getting approved for a mortgage after foreclosure sucks. Couldn't find anything, since it's a seller's market. Made several offers on this place we are renting, many (how typical) were never rec'd. Well the house finally went up for auction cause Lone Star is just bailing & I had to threaten a lawsuit to get the auction stopped.

Folded to them on their demand to pay $230,000 for the house"as is". Excepted by them after weeks.

Sweated out the mortgage company finding out about the foreclosure(which they did). Explained what happened & moved on. Appraisal was done. Came in at $209000(realistic). Sweated out Lone Star now excepting my new offer of $209000.

Coming down to the last stretch, my friends, I may close before Christmas. If I lose my job, before year's end then I will have finally bought "a house I couldn't afford" and I know because I've lost a precious house, that it won't hurt as much as I thought it would.

Life is so freaking strange.

You know, isisis, it doesn't hurt one bit anymore looking out on my old house. Never thought I'd say that, but it doesn't. I know you always worried about me moving, next door, but it's OK. I'm cool. This is my home now, good, bad, or indifferent.

I lost one, if I lose this one, I'll get another.

I guess my point is, my friends, maybe you don't like change, but you get anaesthetised to it. We will all be fine.All that matters in a home is who lives in it.
 

OneHugeMess

LoanSafe Member
May 30, 2016
616
57
28
I've been VERY messed up the last couple of months & since I'm coming down the home stretch, now is the time to share.

I've been house hunting since Lone Star decided not to renew my lease. House hunting sucks.Worrying about getting approved for a mortgage after foreclosure sucks. Couldn't find anything, since it's a seller's market. Made several offers on this place we are renting, many (how typical) were never rec'd. Well the house finally went up for auction cause Lone Star is just bailing & I had to threaten a lawsuit to get the auction stopped.

Folded to them on their demand to pay $230,000 for the house"as is". Excepted by them after weeks.

Sweated out the mortgage company finding out about the foreclosure(which they did). Explained what happened & moved on. Appraisal was done. Came in at $209000(realistic). Sweated out Lone Star now excepting my new offer of $209000.
Do you know / understand how the Mortgage company, originating your new loan, found out about your previous foreclosure? I'm curious. I know you said it was off your credit report.
 

moretrouble

LoanSafe Member
Nov 14, 2009
1,563
283
83
I've been VERY messed up the last couple of months & since I'm coming down the home stretch, now is the time to share.

I've been house hunting since Lone Star decided not to renew my lease. House hunting sucks.Worrying about getting approved for a mortgage after foreclosure sucks. Couldn't find anything, since it's a seller's market. Made several offers on this place we are renting, many (how typical) were never rec'd. Well the house finally went up for auction cause Lone Star is just bailing & I had to threaten a lawsuit to get the auction stopped.

Folded to them on their demand to pay $230,000 for the house"as is". Excepted by them after weeks.

Sweated out the mortgage company finding out about the foreclosure(which they did). Explained what happened & moved on. Appraisal was done. Came in at $209000(realistic). Sweated out Lone Star now excepting my new offer of $209000.

Coming down to the last stretch, my friends, I may close before Christmas. If I lose my job, before year's end then I will have finally bought "a house I couldn't afford" and I know because I've lost a precious house, that it won't hurt as much as I thought it would.

Life is so freaking strange.

You know, isisis, it doesn't hurt one bit anymore looking out on my old house. Never thought I'd say that, but it doesn't. I know you always worried about me moving, next door, but it's OK. I'm cool. This is my home now, good, bad, or indifferent.

I lost one, if I lose this one, I'll get another.

I guess my point is, my friends, maybe you don't like change, but you get anaesthetised to it. We will all be fine.All that matters in a home is who lives in it.
I am happy for you, Wanda. Sounds like an affordable loan. If you need or want a house, better than renting.
 

wanda robo

LoanSafe Member
Sep 29, 2012
3,964
643
113
NJ
Do you know / understand how the Mortgage company, originating your new loan, found out about your previous foreclosure? I'm curious. I know you said it was off your credit report.

Yes, it's a seperate report called "Fraud Report", LOL. That's the only place it showed up. I just sent them proof of the Sheriff's Sale, when title switched hands. It was 3 years & eight days ago......
 

isisis

LoanSafe Member
Jun 22, 2010
1,840
259
83
North bay
I'm happy for you too, Wanda!

More Trouble,

Maybe you should engage with the protesters. You could try to redirect their anger toward the real oppressors. As awful as racial injustice is more harm is being done to society because of the extraordinary balance of resources. Even if all races were treated equally it wouldn't change the fact that too many people are powerless and right now particularly too many people are suffering while a disproportionate few live in luxury.

I'm surprised there isn't more protesting or as least more anger directed at the current situation with people dying every day by the thousands, so many unable to earn an income, the economy tanked. All these months with big businesses getting big bucks from the government and all we've been given was one check for a princely $1,200. I don't know how people are getting by but there must be a lot of quiet desperation out there.
 

moretrouble

LoanSafe Member
Nov 14, 2009
1,563
283
83
I don’t think my engagement with them would change anything. As big as the “Occupy Wall Street “ movement was, not enough people got involved and the movement was ignored and eventually died. Also non paying and foreclosure contesting home owners are too few to make any noise. The “Red House” protest is in resolution. Apparently the investor who bought the house at auction agrees to sell back, and the owner got enough fund from GofundMe to buy back. I think about using the same strategy if they try to evict (and if I still plan to stay) by inviting activists to camp on my front and back yards then expose the scheme on the news. The people with the money usually win. I took my case all the way to the SC. None of the judges would give me an opinion. They want to bury the fraud by sealing my case. I would be surprised if they try to enforce the judgement because they know I will contest with suit in the Federal court. However, never underestimate the stupidity of these third-tier atys. The objective is not to win but to expose the scheme that defrauding the people and demand restitution to us, the taxpayers. Most people I know are happy when they got the $1200 check from the government but nobody I know has explained to me where is that $1200 Came from. It came from our kids and grandkids. We have just burdened them with $9000 debt each. Sometimes I do think Mitch has a point. Where does the $175K /year Oregon judges’ salaries come from, partiAlly from my tax, do your jobs, at least give me an opinion.
Anyway, my camper van is ready, live free or die.
 

moretrouble

LoanSafe Member
Nov 14, 2009
1,563
283
83
Latest on the Red House:

Mayor:

"Wheeler conceded Monday that protesters’ aura of success could lead to similar occupations over other home foreclosures — but said he hopes it doesn’t. "

I'll do it to expose the corruption. Image ALL my court documents made public!!!!
 
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wanda robo

LoanSafe Member
Sep 29, 2012
3,964
643
113
NJ
Wanda, very happy that you have pulled this off and don't have to move! Woosh! :)
My friend moving, at our age, is never pleasant. I don't want to ever leave the "hood" I am in. I will always stay close. I may change houses, but this will always be home.

I remember, what seems like ages ago, isisis giving me he!! about moving next door. I couldn't bear to leave this neighborhood. It's been my home, my safe place for far too long. While my neighbors(as well as me & Vince) will probably start to die, this is where I need to be.

Happy Holidays, everyone. I love & cherish you, everyday. Don't know how I could have taken this ride, without you.

FYI-house hunting sucks, big time!!!:(
 
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