CBS “60 Minutes” airs mortgage foreclosure story – “absolute, intentional fraud!”
April 4, 2011 2 Comments
"The Next Housing Shock"
On Sunday, April 3, 2011, “60 Minutes” featured an investigative story on foreclosure fraud, “Mortgage paperwork mess: the next housing shock?” Click on the image at right to watch the story.
I urge you to watch this segment very carefully. Even if you’re not at risk of foreclosure, legal title to your home may be blighted beyond repair.
60 Minutes reporter Scott Pelley “explains a bizarre aftershock of the U.S. financial collapse: An epidemic of forged and missing mortgage documents.”
Unfortunately, these “forged and missing” documents come as no shock to those of us who have known for a long time now that these documents DO NOT EXIST, AND HAVE NEVER EXISTED in the first place, hence the widespread fabrication and forgeries widely documented around the country.
It’s absolutely wrong to portray banks as being “unable to find” crucial mortgage documents. After watching the segment, contact your mortgage servicing company and find out whether your mortgage has been bundled and sold. Did you get a clear answer? Did you get a copy of your mortgage paperwork to back it up?
In a previous post, I listed the documents you will need to find out whether or not your bank is the actual holder of your mortgage:
- A copy of your original Note
- A copy of your Deed of Trust
- A copy of any Substitution of Trustee relating to your property, if any.
- A copy of any Assignments of Deed of Trust, if any.
- A copy of any Notice of Default, if any, with any attachments.
- A copy of any Notice of Trustee’s Sale, if any.
- A copy of any Trustee’s Deed Upon Sale, if any.
- Any letter or correspondence you have received from your bank or mortgage servicer relating to previous attempts at loan modification.
Reyes Law Group - Foreclosure Litigation 
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I was going through a loan mod with Saxon Mortgage (Duetche Bank). I had to go through two trial periods because they claim they lost the paperwork. I sent it all again which started the 3 month trial period. I received a letter from Saxon with an original signature signing off on the loan mod. Exactly a week later I receive a letter stating I have a new loan mortgage servicing company Ocwen. I immediately called them and told them I just finished a loan mod trial period. I paid saxon almost 12k in payments over the 6 months. They claimed they had no paperwork yet and to hold off sending them payment. I did not send a payment to ocwen for December. I called Ocwen back in December to see if they received the paperwork from Saxon: they did not and ask if I would fax them the paperwork myself. I faxed them the paperwork I had 4 consecutive weeks to 4 different phone numbers: in every case they claimed they had not received anything from me and currently not from Saxon. I decided to just start sending them my payments agreed upon by Saxon. I sent January 2010, February, and March payments. In February I started to receive checks back from Ocwen for my payments. I inquired about this in March. They told me not to send them any more payments. I ask them why and they told me just don’t send anymore payments. For 4 days straight in March I called Ocwen with undesirable results. A week later I got a notice of sale date; April 14, 2010. They sold my home. I got an Attorney to help me. My attorney took $6,000 and filed a lawsuit a day before the sale date to try and stop the sale. The sale went through. Then he went to District court to stop the eviction process which ultimately failed and in August 2010 I was kicked out. My attorney, after receiving a letter from the court was barred from arguing the “proof of loan ownership” argument in the court and could do no more. I have been wronged wronged wronged from get go. I maid my loan mod payments on time and twice over no less. I need help! I cannot just sit by and let these banks do this to me.
Thank you,
Todd Shelly
Todd Shelly