Danielle Kelley is a foreclosure defense attorney who has dedicated an incredible amount of her time and energy to help all of us who are in this fight.
For her it’s not just professional, it’s personal. Read her story:
I am in foreclosure. Although I am not proud of that, I know my foreclosure is not my fault.
After dealing with a horrible predatory loan on our home, we were able to get a new fixed-rate, conventional loan. From the date of closing, our payments kept increasing little by little until they were so high something seemed wrong. When we called Bank of America to inquire, we were told we needed a loan modification. Because we were current on our payments, we were not showing an ” inability to pay,” so we were told to make a partial payment and then apply for the modification. We did this. Then we were told we would have to stop payment altogether in order to qualify. Our partial payment was returned to us.
While still trying to understand what Bank of America wants from us now, and actively negotiating for a loan modification, we are in foreclosure.
I am an attorney and represent homeowners who are also going through the same horror. Why am I telling you? Because I fear the passage in the Legislature of HB 87 and SB 1666.
I’m truly sorry for your pain. Keep up the fight. The America people have to some how come up with a way to stop this madness. I believe the loan modifications are a bait and switch to get people to sign new documents to hide the underlining fraud in the existing mortgage so they can take your home by showing the court smoke and mirrors and not the fraud leading up to the crime. I was reading an articale the other day that loan mods were being denied due to homeowners buying fast food or having a night out on the town and for women buying lingerie. MERS is under attack in Rhode Island the Senate Bill 547 is a must read for every one. Rhode_Island-2013-S0547-Introduced pdf. This could also help Florida slow down the foreclosures.
Join the crowd! It’s not funny – but criminal.
just a thought would placing the mtg. payments into the clerks office and filing suit on the bank for breach of contract be a way to bring the bank into court without falling for there trap of foreclosure?
I am fairly certain that Freddie Mac, Fannie Mac are under the Conservatorship of the US Housing Department and the Treasury Department. Both corporate, are run by Mortgage Servicers. Recently, Ocwen became a larger private entity, but it is the US Conservatorship’s Servicer of “choice”. There is an increasing shareholder build-up in Ocwen’s SEC filings due in some part to the sequestered financial tax relief given last Oct 2, 2012, in the USVI’s EDC – this puts Ocwen tax from 37 % to 4%, and it was inspired apparently by the IRS/Treasury. The stock went from low 30’s to 42. Fast. Now there’s reason to believe the US Treasury supports financial funding of Servicers who, in turn, use the funding in “defaulted real property” to sell securitized pooling of these “service advance” funds (nobody pays,but Ocwen keeps the Treasury funds monthly)as Commercial Servicer Advances Securities” rated by Fitch, Moody, S&P AAa or other. The pools are like the CDS’s, MBS’s, etc. So, if there is a hidden agenda to getting you, and others out, there’s a puzzle in the Treasury and Federal Housing business in Freddie and Fannie and – in my example – Ocwen. I look at “shorts” on market for 6 years, try to buy one, and know it’s better (now) for Wells Fargo to hold the 160 K in the servicer advance pools, paid by Treasury, than to sell at 90 K., so technically, there’s a scandle and a scam running in the Servicers to get your house – a larger issue.
Despite the clear presence of systematic predatory lending and worse, politically, the insanity and profitability of it all for financial institutions continues. The only positive emerging is that – despite the tidal wave of public opinion against them -a hand full of attorneys presented the voice of truth – in a climate that would cause a reasonable person to cower.
Thanks!