Foreclosure Defense Florida

A Big Shift From The Loan Servicers….An Admission of Real Problems????

First Bank of America, and now Aurora…switching their corporate structure.   This is not a meaningless change.   This is a Titanic shift in the corporate landscape.

It makes all servicer pursuits subject to challenge….







  • John S says:


    It is VERY important that people understand this transfer changes the nature of the rights of the servicer – IF AND ONLY IF – the loan is already in default.

    FDCPA covers collection activities. In general, mortgage servicing is exempt from most of FDCPA. UNLESS, the mortgage servicing is transfered when the loan is in default. Then, all of FDCPA applies.

    So, if you’re in default, and they send you this notice, send a Debt Validation/Debt Dispute letter immediately. Simple letters, ask for “who was the original creditor” and if you know your note was securitized, challenge the current Creditor. The courts may not require full proof of debt ownership, but at least if you send the letter, there is the potential that, when they do not show you complete chain of title, that you can bring an FDCPA violation (misrepresentation) suit and maybe you’ll get past motions to dismiss, and if so, you get discovery. It’s not a monetary winner, will not get you a free house, but could give you leverage in negotiating a settlement.

  • speakout says:

    What the hell happened to common law. Or law of contracts?
    They have to have consideration – that is their “interest”. They can only claim their “interest”. If they are servicers- that amounts to about .25%/year. About $250 on a $100K loan. Make them an offer of $250 for the mortgage. If they refuse your offer, the debt is discharged. They have not suffered a loss as they did not put up any money in the first place. Our promissory note funded the deal. They bought a bond with it. MBS, government backed. By the people. We are funding our own loans. They are “lending” us their “services”. For an interest rate fee. Must prove under penalty of perjury, the amount of loss. Do NOT admit you are in default. You are not. Deny it, object to the allegation, as most loans are not due for 30 years. A “default” admission kicks in the acceleration clause.

  • Beth A. says:

    I decided to investigate the trust our mortgage was put in. Supposedly was a DE entity. I provided the SEC#, tax id#, etc. Well, two people researched this within the State of DE’s Corp Division after I had no success in an entity search. Turns out ““ no record. Hmmm, how can an entity own my mortgage and try to sue me when it doesn’t exist?

    Oops”¦and that darn trustee never did file an assignment either. How can they have legal standing as to ownership? They have nothing.

    So, I found it interesting that just in the past several weeks, the Attorney Generals of NY and DE have opened investigations into all of these trusts that are in NY and DE and hmmmm, they don’t seem to exist AND they are looking into the mess they’ve made of documentation, etc. “” such as trustees for the trusts that didn’t do what they were supposed to do in terms of actually following the steps to get the mortgages into the trusts.


    Did you hear that? That mortgage of mine (and yours, quite likely) has disappeared into thin air”¦.

    Google the investigations. I just emailed the AG’s office in DE with my trust info along with data from his state’s own corp division (no such trust exists despite being listed as a DE entity). I’ve respectfully asked that his office look into this one as well.

    Keep fighting,


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