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moretrouble

LoanSafe Member
Nov 14, 2009
1,581
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Perhaps the tide is starting to turn .......Perhaps ???

So the state’s fund will pay the debt collectors/distressed debt buyers who paid almost nothing for the collection rights? In full?
HSBC made a killing on my heloc 15% interest plus I paid credit insurance. Closed the trust, sold my charged-off loan to Greentree for less than 2 pennies on the dollar. Now New Res bought my loan from Ditech (wAC bought greentree, ditech bought WAC all before bk), for pennies on the penny, claims I owe the full amount? More tax payers’ dollars going to these crooks.
 

moretrouble

LoanSafe Member
Nov 14, 2009
1,581
289
83
I watched this Netflix movie “I care a lot”. It reminds me of the mortgage bankers and the subprime mortgage home owners, so similar.
 

Survivor_IN

LoanSafe Member
Jun 2, 2008
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I thought the same about the movie too. Demonstrates how easy it is for criminals with inside knowledge to scam people by creating their own authority... to seize the assets of those without a means to legally object.

I watched this Netflix movie “I care a lot”. It reminds me of the mortgage bankers and the subprime mortgage home owners, so similar.
 

kraftykrab

LoanSafe Member
Jan 27, 2014
1,266
171
63
Aargh! It's hard getting on the same page with an attorney. I gave my guy a road map explicitly demonstrating the Defendant's breach of the loan contract and how under statute and common law that excused my performance. He came back with a complaint for FDCPA. I mean fine, we can shoot them too but it's more efficient to disarm them. They're coming after me (non judicially) in contract so I need to use the same area of the law to defend myself, need to use their weapon. I signed an enforceable agreement promising to repay a loan and haven't made payments in eleven years. The fact that they're readily identifiable greedy bullies has no bearing on that. Contract and tort are apples and oranges. Sure they've subjected me to a couple dozen mock executions over the years - Geneva convention notwithstanding - and have less soul than Mitch McConnell but it doesn't matter. Some judge is just going to go, "Look lady, eleven year's free rent's not bad. Now pack up."

Wrong. I didn't bargain for housing. The purpose of the mortgage is the exchange of funds for property ownership, housing is just one of its benefits. Obligations exist on either side on a contract. When they induced default with false promises of improved loan terms then refused tender and initiated foreclosure telling me it was a technicality while concealing their lack of authority to modify that constituted a material failure to perform and suspended my performance. Meanwhile I've been substantially deprived of the expected benefit.

The ball has been in their court for eleven years. They've had the option to cure and resume the contract but they decided it was more profitable to assume the law didn't apply to them and just harass me until I cried uncle.

Yes, tort law has come into play given the intentional nature of their actions, the foreseeabilty of harm and the possibility of punitive damages but given the potential pay off - equity four times the loan balance - it's just too tantalizing for them to resist the windfall. Sounds like someone slept through Contacts 101 or else they'd know that refusal to cure discharges performance under Restatement and allows termination.

Now if I can just get my attorney on board .
Wow, it's been eleven years for us too....well, the first time around started in 2010. It's been one hell of a journey....

Oh, by the way, there seems to be some traction being gained against Caliber Home Loans. Two states took action against them in the last couple years, and the verdicts are in:

NEW YORK:

MASSACHUSETTS:

At least someone is finally starting to pay attention to these crooks. Oh, and there's more. If any of you are dealing with Caliber, be on the lookout.....it appears that Caliber has been selling homeowners' information to a company that's run by a convicted child predator and purveyor of child pornography....


Aren't we just full of good news today!!
 

moretrouble

LoanSafe Member
Nov 14, 2009
1,581
289
83
Glad yall are OK. I am just waiting for the new AG to to be confirmed to send in my complaint against the crooks. The least I can do. My job is to file complaints, to do anything about it is their jobs. My state court case is closed , no attempt to enforce the judgement yet. Maybe I just lay low without filing anything new for now. Judgement is good for 10 years in Oregon. Hope I live that long. Maybe BOfA is waiting for me to die. :). Bunch of Fxxxxng crooks, cheating people for a living, should be ashamed of themselves looking in the mirros.
 

isisis

LoanSafe Member
Jun 22, 2010
1,844
263
83
North bay
Glad yall are OK. I am just waiting for the new AG to to be confirmed to send in my complaint against the crooks. The least I can do. My job is to file complaints, to do anything about it is their jobs. My state court case is closed , no attempt to enforce the judgement yet. Maybe I just lay low without filing anything new for now. Judgement is good for 10 years in Oregon. Hope I live that long. Maybe BOfA is waiting for me to die. :). Bunch of Fxxxxng crooks, cheating people for a living, should be ashamed of themselves looking in the mirros.
They probably don't bother looking at mirrors because there's no reflection.
 

moretrouble

LoanSafe Member
Nov 14, 2009
1,581
289
83
From the Oregon SC:
I think my case helped the petitioner in this case. After my case the justices knew it was not Bank of New York filing the suit and acted accordingly (instead of pointing out the fraud, they did the next best thing). I think the days of using Bank of New York name to foreclose are over. The was no foreclosure in the name of Bank of New in Oregon in the whole 2020 and 2021. There were hundreds before 2020. The fraud is exposed. We've done our jobs. :)
 

Annie Mac

LoanSafe Member
Aug 19, 2011
602
88
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Oregon
Wish you could get a position at on one of the major agencies in Washington, Moretrouble, or at least at the Oregon DOJ, but I guess that would interfere with van travels, and I think I know which one you would choose.
 

moretrouble

LoanSafe Member
Nov 14, 2009
1,581
289
83

Fortress Investment founded by Wes Edens, manages New Residential, the outfit trying to get 50K from me for less than a dollar investment in the collection right. That's how they become billionaires unlike Elon Musk, Bill Gates, Bezos who really do good for society.
 

moretrouble

LoanSafe Member
Nov 14, 2009
1,581
289
83
The 1.9 trillion stimulus package passed, almost 6K in debt for each of us. The difference this time from the bank bailout is we'll get some of it back, chunk of it goes to the kids. At least unlike the banks, the kids won't forge documents to foreclose on us and kick themselves out on the streets.
 
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OneHugeMess

LoanSafe Member
May 30, 2016
626
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That's how they become billionaires unlike Elon Musk, Bill Gates, Bezos who really do good for society.
Excuse me, but what do any of those do for society?

One is a Complete Fraud -- with one overhyped "invention" or scam after another. Look at the LA Tunnel project, that wasn't.

Another -- purchased a piece of software from a local company, changed a few lines of code, and then claimed it was his.

Then another -- made his fortune off the back's of his minimum-wage employees, and then purchased the media to control his press.

The 1.9 trillion stimulus package passed, almost 6K in debt for each of us. The difference this time from the bank bailout is we'll get some of it back, chunk of it goes to the kids. At least unlike the banks, the kids won't forge documents to foreclose on us and kick themselves out on the streets.
Less than 1% of it is going towards COVID Relief. The vast majority of it is a Demoncrat state bailout -- to paper over the losses from YEARS of terrible decisions. It's the lifeline for Illinois, in particular, but also New York.
 

moretrouble

LoanSafe Member
Nov 14, 2009
1,581
289
83
What I am saying is true. My family share of the debt is 24K, we ‘ll get back $8600 approx 35% of the stimulus, clearly not 1% as you indicated. 359b to states , 18%
 

OneHugeMess

LoanSafe Member
May 30, 2016
626
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What I am saying is true. My family share of the debt is 24K, we ‘ll get back $8600 approx 35% of the stimulus, clearly not 1% as you indicated. 359b to states , 18%
What your saying is not true.

Less than 1% of the COVID relief bill will actually go to vaccine development and distribution.

Because I don’t watch MSDNC all day, I know that the bill was nothing more than a fucking blue state bailout to cover years and years of terrible, decisions. We are basically saving CA, IL and NY from insolvency at everyone’s expense.

Enjoy the Bribe. It’s not like “your family” will actually be repaying it.
 

moretrouble

LoanSafe Member
Nov 14, 2009
1,581
289
83
Not only my family will pay but ALL of ours will, especially retirees and renters in terms of lower rates and inflation. Before I retired, I was expecting 6.5% interest on my CDs now I get .5%. Next door neighbor's rent went from 1000/month in 2010 to 2600 now.
 

OneHugeMess

LoanSafe Member
May 30, 2016
626
58
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Not only my family will pay but ALL of ours will, especially retirees and renters in terms of lower rates and inflation. Before I retired, I was expecting 6.5% interest on my CDs now I get .5%. Next door neighbor's rent went from 1000/month in 2010 to 2600 now.
We haven't had yields on CDs in the 6% Range since 2006. They fell into the 5's in 2007. And into the low 4's and 3's in 2008. So I don't get your point.

Rent has been going up for years, and years and has nothing to do with this bailout. It's the Democrat's policies of raising Minimum Wage, and Out of Control Spending that sends inflation zooming.

I can't wait for Joe Bribem's Stagflation Economy. Should be a hell of a couple of years, combined with ridiculous out-of-touch political stunts.
 

OneHugeMess

LoanSafe Member
May 30, 2016
626
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On another note, I received an unsolicited postcard from a Realtor inviting me to contact him for a free market analysis of one of my properties.

Curiosity got the best of me, and I Googled Him. I found a Zillow Listing showing me, his photo, and that he had only sold 5 properties in the past four years of being licensed. Okay, so whatever. But then, I saw one of the homes, and thought to myself, Jeez, how on earth did he get so much money for that?

And than... I clicked on the listing. This property had been sold for $187,000 in April of 2018. It was then sold in an "all cash" deal in June 2018 for $475,000. I put air quotes, around "all cash" because I'm very well convinced that the buyers didn't exist, and the cash was not exchanged. There was no Realtor involved, in this transaction.

In October 2018, he himself listed it (gotta get in on those winter buyers) for $515,000, then reduced it a bit, and then sold it for $495,000 to some buyer. Looking further on Realtor.com shows the home looks about the same as it did in April of 2018, with no visible improvements. Quicken Loans funded the purchase for $480,000. That would all be good and dandy, but the property is currently listed by Auction.com and it would appear, according to the foreclosure complaint filed, that the "homeowners" never even made their second loan payment.

While I don't expect all of you to do have as much time on your hands, I want you all to be wary. A lot of people unfortunately in Real Estate, Banking, and every sector of our lives are unscrupulous. Always listen to your gut feeling, and don't be afraid to back out of something.

I wish I had been this knowledgeable years ago. C'est la vie.
 

JohnFL

LoanSafe Member
Aug 21, 2010
13
0
1
Beware those real estate developer scam artists, wouldn't want one to be elected president.