Jul312016

Foreclosure victim story: the banks are persecuting her

Most feedback I receive from readers is positive, but occasionally someone with an opposing point of view has an emotional reaction and writes me to correct my many misconceptions.

misfortune_tellerI recently ran the post, Responsible homeowners did not lose their homes in foreclosure. In that post I made the case that most foreclosures were caused by overborrowing rather than unemployment or other unforeseeable events. Not everyone agrees with my view of the world, and one reader in particular was incensed enough to write me about it.

As with most victim rants, this one points to everyone and everything else to blame for their outcome in life. This woman blames the banks, insurance companies, even the weather for her misfortune. Nowhere is any mention of the decisions she made as a potential cause of her misfortune.

The Rant

Terry S., July 30, 2016

How can you sit there with no investigation into foreclosures and state that everyone who ended up in foreclosure was a irresponsible deadbeat?? You have obviously only “investigated’ the people that actually did over buy, even then the banks involved should have ‘Just said NO!’

First, I never said everyone who ended up in foreclosure was a deadbeat. In fact, I stated, ” The only ones … who are in danger of losing their homes are those who lose jobs; they are the truly sad casualties of the housing bubble.”evil_toward_banks

I have absolute documented PROOF of every claim I make below. I can guarantee you never even look at it or consider that these banks are run by criminals who could care less about the rule of law or anything else. Arrogant uninformed people like you help these perpetrate the absolute falsehood that these banks can still be trusted. AS can the Federal Reserve Board.

I am rarely labeled as someone who coddles the banks or believes they can be trusted.

I certainly hope they are paying you lots of money to sell our economy out.

Bet you don’t ‘investigate’ what happened to me and publish it!!!!

She is half right. I won’t bother to investigate any of her claims, but I will publish her rant.

I have proof of every single thing that this bank did to slander my credit which directly destroyed my small woman owned business, including stealing payments, forging checks, using my loan account for money laundering, manufacturing statements years after the occurrences, falsifying evidence, flat out lying to investigators and to my legal representatives. The bank did this with complete impunity knowing not one person will ever hide them accountable.

Slander, theft, forgery, money laundering, tampering with evidence: quite a list of felony charges.denial_foreclosure

They did this according TO THEIR OWN RECORDS submitted via discovery to enable them to keep my 7.99% loan in house.

First reality check: did she bear any responsibility for taking out a 7.99% loan on her house?

When did she get this loan? Rates haven’t been that high since the early 1990s, yet if she is underwater and unable to refinance, then the loan must have been originated in the 00s. Mortgage rates were generally less than 6.5% during most of the oos, so how did she end up with a 7.99% loan?

To say nothing of the fact evidence they submitted looks like they were using my loan to launder money!!!

Except the fall out from them destroying my credit was they destroyed my small woman owned business when snowmeggedon made it impossible to use business critical buildings without significant repairs.

Now the weather is her enemy.

My own ALWAYS IN PLACE ALWAYS IN EFFECT insurance sent a structural engineer to who said “these buildings are at serious risk of collapse, you cannot use them any longer”. Two weeks later ASSURENT Insurance company (made over 15 BILLION IN PROFITS last year) sent me a letter “we are not covering your loss, we don’t like the construction”. No matter that they had an agent personally inspect the building and take numerous pictures BEFORE the cashed the checks paying for the insurance for over 6 years!!! Yep No Bad Faith laws in the state of VA.

I spent over One Hundred and eighty THOUSAND dollars to sue my insurance company so I could repair these buildings to get myself back in business.

After three years of no business, while I CONTINUED to make my forced super high interest rate payments because I was forced to stay with this criminal organization, I finally get the money to restart my business. OH THEN THE BANK FORCES that money into an escrow account, in the end refusing to ALLOW me to use any of it to repair the buildings needed for my business.

dont_come_cryingDoes the story above ring true to you? Insurance company denying a claim? $180,000 of personal funds spent suing an insurance company? The bank seizing customer funds obtained by a legal settlement and freezing the money?

Finally I ran out of money. YET YOU HAVE THE UNMITIGATED GAUL to defend these assholes and tell people the poor people over borrowed??

Well, it certainly sounds like this woman overborrowed, or she wouldn’t be stuck underwater with a 7.99% mortgage.

I attempted to borrower enough to shore the buildings up so I could still work BUT NO the mortgage and line of credit bank had reported to my credit that I missed three months of Line of credit payments.

Except they had the money in a checking account (over $220K!) to transfer the payments. THEY CHOSE to STEAL my money claiming to have been buying me lender placed insurance with Great American. OVER SIXTY NINE THOUSAND DOLLARS IN 18 MONTHS!!! Except turns out they quit doing business with Great American on March 1 2008. Bank never signed the new company American Modern until October 15th 2008.

So the bank literally STOLE MY PAYMENTS. THEY HAD NO INSURANCE POLICY!!!

Payments I stood in line PERSONALLY and was handed a receipt for each and every month.

So she got through everything with perfect credit, ran out of money as soon as she obtained the settlement, and the bank froze her money so she couldn’t make payments, destroying her credit. Hmmm…

Typically, lenders force borrowers to maintain insurance policies to cover any collateral for the lender’s loan. Usually, the borrower pays this bill either through an impound account or directly. The borrower is responsible for maintaining this policy. If the bank was using an impound account, then they would pay the insurance. If the borrower is making payments into an escrow account, the bank never sees this money as it sits in escrow until payments are made.

Her story has great drama, but it leaves a few unanswered questions.

OH EXCEPT the bank where I stood in line and made my payments and was handed a receipt wasn’t the bank that actually owned my loan. YEP it was just a bank with the same name/logo everything including every single employees referring (even bank officers in depositions) as BRANCHES. Except they we’re NOT. They were only owned by the same holding company.

So what?bullshit_2

This enabled the bank that owned the loans to ADD OVER $430.00 PER DAY to my loans by deleting processing the payments for 3 to 7 days EVERY SINGLE MONTH!! The bank could then add interest to the unearned interest they inappropriately added to my loans each and every month.

So she was making her payments on time, and the bank just arbitrarily decided to post her payment late and add $430 per day late payment fees — approximately $2,000 or more per month.

Does that smell like bullshit to you?

This same criminal organization submitted over 600,000.00 in payments to my line of credit except the Line of Credit payment in process comes through yet none of these payments EVER TOUCH MY ACCOUNT BALANCE!! This money just disappears!! Where do you suppose it went??? OH thats right this poor beleaguered bank was just doing the right thing.

Assuming this statement is partially true and this borrower made some payments, those payments were likely credited toward interest and late fees. Is she really suggesting the bank just arbitrarily took her money and gave her no credit for the payment? Why does this only happen in these silly victim rants?banker_at_your_table

My lawyer resigned as my lawyer and began work FOUR WEEKS later for the BANKS lawfirm. Yet I am sure you see no conflict there right?

Their lawyer told my lawyer the statement did not exist! The lack of statements is what allowed them to get away with the fraud they were perpetrating on me.

Surely this woman has some record of these payments. Unless she paid cash and failed to get receipts, then an electronic record of her payments must exist.

What seems more likely to you: this woman didn’t make payments, or she dutifully made all her payments, and the bank denies it to try to keep her money?

Your totally naive belief and ignorant, rude, totally uninformed, biased article that these poor banks are victims is what enables these greedy bastards to destroy the American Economy. I trusted these criminals too. After all Banks can’t do things that are illegal can they. You are totally uninformed and I believe intentionally ignorant as to the out and out fraud that is still going on with some of these banking institutions.

Before you get on your high horse and tell me what a freaking idiot I am …

Sorry, but your words speak for themselves.giant_leeches

the FBI is now doing a white collar crimes investigation into the BANK FRAUD including check forging (proven), Insurance scams where the bank stole payments supposedly to pay an insurance policy, except there NEVER WAS A POLICY! United Bank stopped doing business with Great American on 1 March 2008. They did not sign their new policy into effect until 15 October 2008 and then with American Modern.

Which banking institutions are paying you??? The banks want everyone to believe the party line. OH those crooked homeowners over borrowed and shafted us.

Yes I Know there were many people who borrowed irresponsibly. BUT they are not the majority.

And how does she know this?

Where is the REPORT where you INVESTIGATE the types of FRAUD that happened to me and others like me???

I have documented PROOF of every claim made. Right now I can tell you I have documented PROOF! YET WITH ZERO MONEY left to hire decent legal representation NOTHING AND NO one, unless this bank cannot buy the FBI and they actually perform an investigation, in going to step in and help me.

That’s because your claims sound like bullshit.

The things that supposedly enable America to work as a free society is that we are governed by the rule of law. When you knowingly approve and defend any entity buying our legal and financial systems you are selling our country out.

You want to report what really was occurring then come see the evidence before you put this overweening drivel out online. You are part of the problem enabling these banks to continue criminal behaviors.

Lets see some unbiased investigation and reports??? Right I didn’t think so.

How about this investigation: Ravings of an entitled whiner struggling to keep a house she can’t afford.

Andrea Egizi 72

Or how about these winners: Grifters for God: fraudulently occupying a $1.3M home for five years.

Keith_Janet_Ritter

Or the reformed Las Vegas Ponzis: Don’t stress about rising home prices.

Carl_Richards_100%_financing

Unfortunately, Robosigner David J. Stern’s law license is terminated. He could fix her problem.

David_J_Stern

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