JPMorgan CHASE STOPS FORECLOSURES!!!

[catleg]

There is also some concern that the mortgages were not transferred into the REMIC (MBS) before it was legally closed; denninger (market-ticker.org) has been talking about this a lot. There are a lot of cloudy issues here.

[kevano51]

Ok, well what Im trying to sort out is, I have a house in foreclosure that actually had a sales date set, the loan is now with chase, i called chase they said to go to the judge on the day they were to set the sales date and tell them that i have been working with the bank, that i had it listed for short sale, which i did and see if the judge would stop the sales date in light of this issue, he did not he opted to set a sales date, then before the house was to sell, chase stopped the sale and responded to my short sale offer which i had had with them for several months, in the meantime the original buyers backed out and got their escrow money back as they were tired of waiting, we now have a new offer at a lesser amount and my real estate agent wants me to go ahead with getting a proposal so we can see how it will affect me paying taxes on any deficiencies, what im trying to ascertain is how these new events affect all of this, i called a lawyer and he said foreclosure defense costs 1500, not sure much can be done at this stage as i am in florida and as i understand the law, i should of contested this foreclosure in the first 20 days(sometime last year), what im also trying to figure out is who can i contact at the regulatory level to get my house included in this foreclosure stoppage, im trying to stave off bankruptcy as long as possible. thanks in advance for any ideas!
Kevin

[tobee43]

I am nearly a year out of bankruptcy and my house is still not foreclosed. I am renting one neighborhood over. They keep filing NODs and then not foreclosing. I pulled the Assignment of Deed of Trust recorded by the bank. First Horizon transferred my loan to Metlife for servicing a few years ago. A guy that works for Metlife signed the assignment "Michael Fisher" in the name of First Horizon and MERS to lift the stay in bankruptcy. I pulled a couple of Assignments by Metlife in the same month in our county. Same guy signed for Mers alone and Homeowners Financial Group. Metlife can't assign themselves the Note and Deed of Trust. What gives?

My lease is up at the end of November. I think I am going to move back into my house until they can sort this out. I have to pay 75 a month to the HOA and any fines. I am really behind because I received an attorney letter last April telling me the house was owned by FNMA and to remove my property so I stopped paying the dues and watching the house. Months later I find out that it didn't foreclose and a new NOD was filed. Trustee sale for 9/8 that again didn't take place.

Funny thing is: my husband and I have jobs now and can finnaly qualify to work out the loan but we bankrupted it. Now I just hope I bankrupted the right company because heck if I know who I really owe the money to!

wow.....this is extremely an interesting scenario, i MOST certainly would move myself right back in provided they don't have it all locked up...and even if they DO...it's still yours technically....or the deed is still in YOUR names....therefore there has been no transfer and the title not cleared....yeap..i'm move right back in and save myself a few dollars, by just putting bucks away...then i would ask the bank if they would like to do a loan mod at a nice low interest rate......????????? oh...yeah this could work out well for you.

[justbroke]

Same guy signed for Mers alone and Homeowners Financial Group. Metlife can't assign themselves the Note and Deed of Trust. What gives?

What gives is the phenomenon of MERS! Just search Google -- or your favorite search engine -- for "MERS foreclosure" and plan to spend the next millennium reading about the issues. The problem ws how they did assign the original mortgage (not Note) to MERS and it requires MERS to assign the mortgage.

However, there are some very complex issues and it varies from State to State, but in some States, MERS cannot assign anything, because it was never the beneficial holder of the Promissory Note (Note) and even the Mortgages that include MERS as the mortgagor state that MERS is only acting as nominee. This is where the mortgage industry messed up. They almost ALWAYS can fix the assignment problems with time and get a clean foreclosure, but many foreclosures were RUSHED through Foreclosure Mills. About 4 such foreclosure mills are under investigation in Florida for fraud.

[hurtininaz]

I am nearly a year out of bankruptcy and my house is still not foreclosed. I am renting one neighborhood over. They keep filing NODs and then not foreclosing. I pulled the Assignment of Deed of Trust recorded by the bank. First Horizon transferred my loan to Metlife for servicing a few years ago. A guy that works for Metlife signed the assignment "Michael Fisher" in the name of First Horizon and MERS to lift the stay in bankruptcy. I pulled a couple of Assignments by Metlife in the same month in our county. Same guy signed for Mers alone and Homeowners Financial Group. Metlife can't assign themselves the Note and Deed of Trust. What gives?

My lease is up at the end of November. I think I am going to move back into my house until they can sort this out. I have to pay 75 a month to the HOA and any fines. I am really behind because I received an attorney letter last April telling me the house was owned by FNMA and to remove my property so I stopped paying the dues and watching the house. Months later I find out that it didn't foreclose and a new NOD was filed. Trustee sale for 9/8 that again didn't take place.

Funny thing is: my husband and I have jobs now and can finnaly qualify to work out the loan but we bankrupted it. Now I just hope I bankrupted the right company because heck if I know who I really owe the money to!

[tobee43]

perhaps at a minimum though, one can occupy their property (or rent it) for the years it will likely take it to get sorted.

absolutely.....!!!

[drowning123]

if i were you i would stay and keep the bucks until they throw you out! you'll be with excellent company...

Heck, that's what I plan to do.

[ozarkmiss]

perhaps at a minimum though, one can occupy their property (or rent it) for the years it will likely take it to get sorted.

[tobee43]

Yup. It's a mess. I'll let someone more versed than I chime in on the logistics of all of it. From reading around, I get the impression this is a VERY big deal and banks could end up losing a lot of properties - to the mortgagees.

i may be incorrect...it certainly will not be the first time.....but i don't think so....only because it's just a paper mess up...and people still owe on their homes...so that's not the issue, i think...the issue is whom exactly owes whom what????

who owes the mortgage...the investors...the banks...whooooooo.....when one forecloses is suppose to get the leftovers???

[ozarkmiss]

how so you think???

Yup. It's a mess. I'll let someone more versed than I chime in on the logistics of all of it. From reading around, I get the impression this is a VERY big deal and banks could end up losing a lot of properties - to the mortgagees.

[tobee43]

My atty told me today that this is likely going to spill over to all states. They just went to a atty conference on this subject and there were tons of bomb threats (explosive issue?). He predicts it's going to be a bonanza for homeowners facing FC.

how so you think???

i was just saying some people the banks are maybe going to have to re approach for correct documents you think?

we us....i would likely think it would just be a matter of finding the "correct" owner of the mortgage and then doing the foreclosure....thereby changing the deed out of our names into the new owners....once they correct the paperwork.

since we surrendered the house actually all they had to do was sell it at sheriff's sale to get the PMI from the FHA...but i guess if they have false documents the government backed loan, or at least mine...they will not get a dime back until they get their ducks in a roll.

now think about this.........if YOU or I would have done something so hanis....so against the LAW.....where would WE be???? this is unreal...and NO one ...just watch is going to have to take responsibility for this either.

i can see it now...OH...you committed fraud...stold money....millions....OH...that's ok.....but if WE even cross the street in the middle we get a ticket and get punished.

this really is so unreal!

[ozarkmiss]

These are the "lucky" 23:

Connecticut, Delaware, Florida, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Nebraska, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, South Dakota, Vermont and Wisconsin.

My atty told me today that this is likely going to spill over to all states. They just went to a atty conference on this subject and there were tons of bomb threats (explosive issue?). He predicts it's going to be a bonanza for homeowners facing FC.

[tobee43]

My real estate agent is Bill Ramey with Amper Fields realty here in Pinellas county florida and he recommends talking to some real estate firms to see what our options are now that all of this fraud has been brought to light. I used to work for Chase as of the last two years until they fired me as i had a house that they bought the loan on, once i listed it for short sale on the mls, they fired me shortly thereafter. I was in sales for them and we were forced to lie regularly to our clients in order to put a gallon of milk on the table, so this does not surprise me one bit. another issue of conerns is the credit swaps or the credit derivatives they have been called weapons of mass destruction by ben stein, who is an economist by trade and a we all know him as a game show host, these credit derivatives were another major financial occurence that crashed the markets as well and ruptured our economy, business as usual in america?

ok kev...NOT much floors me...but your post certainly has....

WHISTLE BLOWER LAW!!!!! TURN THEIR ASSES IN.....

really...i'll write the letter to congress for you!! LOL!!!

are you kidding ME???? i can't believe what you have gone thru....

whoa........blog your thread.....everyone should be witness to your plight....

[kevano51]

My real estate agent is Bill Ramey with Amper Fields realty here in Pinellas county florida and he recommends talking to some real estate firms to see what our options are now that all of this fraud has been brought to light. I used to work for Chase as of the last two years until they fired me as i had a house that they bought the loan on, once i listed it for short sale on the mls, they fired me shortly thereafter. I was in sales for them and we were forced to lie regularly to our clients in order to put a gallon of milk on the table, so this does not surprise me one bit. another issue of conerns is the credit swaps or the credit derivatives they have been called weapons of mass destruction by ben stein, who is an economist by trade and a we all know him as a game show host, these credit derivatives were another major financial occurence that crashed the markets as well and ruptured our economy, business as usual in america?

[tobee43]

what a mess indeed, well, one would think this poor person would or should be alright. after all you'd think the courts would know this person acted in good faith, while apparently, the banks have not...so the debt should still be discharged....i hope.

actually, after what your saying here...i'd rather be in the position that chase has yet to foreclose and sell the collateral out from underneath the proper owner of the actual note.

frankly, at this point...i can care less about our names being on the deed...just let the transfer of the deed get clear title and may the next owner be happy with the house!

i'm not going to even bother attempting to contact anyone from either chase nor this task force anytime soon....or ever for that matter! let them sort it all out...and thanks jb for all the info!! it's so much appreciated!!