They use misinfformaation tactics and have lied about the loan from the beginning we are paying interest only for 3 an 1/2 yrs now. Repeated threats of foreclosure when we never missed a payment and lender placed insurance we nevver neededd to ruin my wifes credit. We desperately need your help pleae
Posts Tagged ‘mortgage class action’
I completed my loan modification in July of 2010. Per the letter i received i sent in my first payment that was due on August 1st. EMC did not properly apply the payment to my account. I have always been a month behind because they lost my payment. I have proof that i wired the payment to them. I want to join a class action or a joinder case..
It\’s Started out them tilling us we owed them over 6.000.00 and we told them we need to see the papers on it so we could under stand where we owed this much and 2 people out 6 people said that they found that we didn\’t owe this with Countrywide and Bank Of America. We tryed to do a loan modification with Bank Of America. We sent certifed paper work and money order to Bank Of America, They sent back our money order and said they never recived our paper work. All i got was the run around from both Mortgage Companies…..
put into the hemp program in 2009 not past due or late ever perfect credit score, made 9 months of partial payments only to be told did not qualify, they have added 15,000 to our loan, not applied any payments for 14 months, still no resolve more information will be given if needed
by David Dayen posted on DinsFla site
In a major ruling Friday, a coalition of nonprofit defense lawyers and consumer protection advocates in Maryland successfully got over 10,000 foreclosure cases managed by GMAC Mortgage tossed out, because affidavits in the cases were signed by Jeffrey Stephan, the infamous GMAC “robo-signer” who attested to the authenticity of foreclosure documents without any knowledge about them, as well as signing other false statements.
The University of Maryland Consumer Protection Clinic and Civil Justice, Inc., a nonprofit, filed the class action lawsuit, arguing that any case using Jeffrey Stephan as a signer was illegitimate and must be dismissed. In court Friday, GMAC agreed to dismiss every case in Maryland relying on a Stephan affidavit. They can refile foreclosure actions on the close to 10,000 homes, but only at their own expense, and subject to new Maryland regulations which require mandatory mediation between borrower and lender before moving to foreclosure. Civil Justice and the Consumer Protection Clinic also want any cases with affidavits from Xee Moua of Wells Fargo, who has also admitted to robo-signing, thrown out, but that case has not yet been settled.
This was not the plan of GMAC and other banks caught using robo-signers last year. They hoped to undergo a pause in proceedings, run a quick “double-check” and then issue substitute documents in the same cases. That would have been a much more rapid solution for the banks and would have resulted in many more foreclosures. Now GMAC has to go back and basically file the entire case all over again, meaning they have to give notice of foreclosure to the borrower, engage the borrower in modification options, and basically run through the whole process from the beginning. They cannot use the shortcut solution, thanks to the class action suit filed. GMAC’s dismissal of every foreclosure in Maryland shows their doubts they would have won the class action.
My questions are pretty simple, if one robo signer in one state caused 10,000 foreclosures to stop dead in their tracks what happens when exposing all robo signers (we know of at least 430) are used in all states to stop illegal foreclosures? Or used to have the foreclosures unwound? What happens to those who have already been foreclosed upon using an illegal robo signed substitution of trustees or assignments to foreclosure. What title insurance companies are about to eat a huge pile of predatory lender seasoned crapola?