All Forum Posts by: Account Closed

@Chris Seveney The reason I asked about quiet title in the first place was if they couldn't come up with the paperwork. So will just wait and see on that.

No, it's nearly $100k not including any of the above, but thanks for  your insight.

I wasn't asking for anyone's judgment - my original question was where I could find further documentation regarding the security deed. 

Trust me, I don't have an imaginary perfect world, and I am more than capable of determining my mortgage payments. 

As I mentioned before, there is much more to the story and I believe you would be ashamed for being so judgmental if you did know the entire story.

@Brett Goldsmith

I think at this point they have put everything on hold until they can provide the accounting detail and proof of assignment, or not, and then will see what happens.

I never considered getting a free home - I just wanted the loan mod. 

SPS is the servicer and it was a no doc loan - neg. amortization. I knew what I was doing when choosing the loan, although I have to say no one even remotely suggested there was a downside - sad for people who didn't understand the risk. This was not the reason for default.

I believe the statute of limitations for Fair Debt is 1 yr - yes, the infringements go back further, but still plenty within the last year.

In addition to the $100k or so discrepancy, there are significant attorney fees from foreclosure sale dates, etc which should not have occurred in the first place.

There still is a lot more to the story which is not important here. After 8 yrs in load modification, dealing with foreclosure sale dates, receiving 2-3 notices/week from SPS wondering what was going to happen next, and much more, I just want this to come to an end. 

I agree that getting a "free house" is highly unlikely, but I'm sure not going to let someone else have a free house at this point, and that's what seemed was going to happen. 

I really would like to know how or where to continue the research into the real deed holder, but don't know where to go next since paying an attorney thousands of dollars which I don't have is unrealistic. 

I guess I'll just wait and see what they come back with.

@Chris Seveney - thanks, but it's a bit more complicated. I'm more interested in finding the chain of title, security deed, etc. 

I've done much research into WAMU/Chase, etc and there is an unbelievable amount of fraud. Had they either given me a loan mod, or denied it, fine, I would have moved on. After 8 years of BS, if someone is going to get a "free" house, it's not going to be them. 

I really just wanted to know if anyone could give me a clue how to pursue the real owner of the security deed, beyond the research I have done.

I agree/understand that the lender does not have to approve a loan mod, and at this point, it's unlikely the terms would be a good business decision because the house is too underwater. 

My research shows that Chase and the present servicer have already made more money on this security deed than the original negative amortization loan. 

Thanks for everyone's input. 

@Account Closed No, I will not payoff the mortgage amount they say I owe - this is one of the many issues. 

The house is also still underwater, so I have no equity. 

There's much more to the story.

@Account Closed  No, I have not made a mortgage payment since 2010 - see the thread. They would not accept a payment after 2010. 

It is my primary residence, although I live with friends in NC the majority of the time. I do have tenants in part of the house. 

The servicer is aware of all of this, but since I continued in the load modification "process",  AND they have not approved or denied the modification, we just carry on.

Yes, it's unbelievable -  all I wanted was a loan modification. 

@Chris Seveney  The last loan payment was in 2010 -  there's a large discrepancy between their account and mine - that's one of the issues. 

When I filed the first loan modification application, Chase said they wouldn't consider it unless I was 3 months late - so, I didn't pay for 3 months (at that time, I was current). They failed to mention that I would then be in foreclosure status and then they would no longer accept a payment. 

So for now, we in a stalemate. No foreclosure, short sale or loan modification available.

I don't know what happens now that I've involved their foreclosure attorney, but I'm pretty sure they will not be able to provide the accounting prior to 2011 - least they  haven't been able to for 4 yrs.

I can't afford an attorney - $10's of thousands to fight the lender, and even if I'm right, I can still lose. 

That's the reason I'm trying to find out who owns my loan - maybe then I have a chance.

I understand some attorneys will take an FDCPA case on contingency, and because I was already in default when the most recent servicer took over in 2013, they are considered a debt collector - not sure where that might lead, but at least it would be in Federal Court.

@Brett Goldsmith Yes - ideally I'd like to sell the house, so I need to do something about the 1st mortgage which is greater than the value of the house - still...... 

So, currently the servicer will not foreclose, let me do a short sale or file another loan mod. 

They, of course, will do cash for keys... after all this, I'm not going away for $3k.

@Wayne Brooks I have researched all liens/titles/recordings on the property. 

I realize the loan could have passed to another trust, but there is no evidence of that and there is evidence that this loan "disappeared" - hoping someone might be able to suggest where else to look. 

Most loans, particularly WAMU, passed through MERS, however, my loan was not one of them, so no help there.

I totally understand how loan servicing works, yes, they handle the transaction and accounting, but at the end of the day, the actual cash from the sale has to pass to a certain account - yes it passes through the servicer, but the servicer cannot or at least has not been able to provide that information. 

The property is in GA which is a non-judicial foreclosure state. The statement only shows the most recent assignment which is the one that has not been validated and the one I am disputing.

For anyone else reading this, by directly contacting the foreclosure attorney and formally disputing the debt and chain of title is the only way that prevents the servicing company from foreclosing. Many GA foreclosures have processed because the owners didn't know how to stop the foreclosure or demand accountability. Redemption in GA, other than for a tax foreclosure is almost impossible.

So, the only other option is to file suit against the servicer and make them provide proof. This is VERY expensive as they will motion to dismiss, and generally delay -  the attorney fees to defend become ridiculous - just what they count on, since most homeowners in foreclosure don't have any money, it becomes an uphill battle. 

You can represent yourself, BUT most judges assume the banks are correct and you lose. The corruption is beyond belief.

This is the reason that I am trying to do all my own research and hoped someone might suggest somewhere else I might find the missing link. 

@Brett Goldsmith I am trying to determine who actually owns my loan.

I have religiously filed loan modification for almost 8 yrs - with NO approval or denial - only a new foreclosure sale date - all of which were postponed/canceled. I have over 1 Gb of documentation. 

Neither Chase, nor the current servicer have been able to provide accounting or proof of assignment in 8 yrs. - only the 2012 assignment which has no validity without prior assignment. 

Point is, there is NO assignment from WAMU to Chase. My loan had already disappeared from WAMU 1/2008 - 8 months prior to WAMU being taken over by FDIC/Chase, so their "assignment" to present servicer is not valid, at least from any research I've found to date. I have researched all the recorded liens/assignments etc on the property.

I've read the PSA, prospectus and termination of registration from the SEC for my trust series. I understand that mortgages were often pooled into another account, but that is where I've come to a dead end. 

I was hoping someone might have experienced something similar and might be able to suggest how I might find the missing documentation. 

Reason for QTA was forcing someone to either find the true identity or remove the cloud on the title so I can sell the property.

Thank you

I know who is the present servicer of the loan/assignee/bank.

I know the last/only assignment was 5/2012 from FDIC/Chase to current.

The problem is the WAMU trust series which my loan was a part of was dissolved 1/2008 - 8 months before WAMU collapsed.

FDIC/Chase could not takeover something that WAMU no longer owned/serviced.

Chase did not purchase any mortgages from WAMU - they only assumed the servicing rights and Chase also received a significant settlement as a result of the associated liabilities, i.e. missing or fraudulent documentation.

The foreclosures have been scheduled by the same attorney group for 8 yrs. 

No, they were not aware that the present servicer was unable to provide the accounting or chain of title until I demanded the information directly through them.

GA is a non-judicial foreclosure state - they could have, and could still have foreclosed had I not contacted the foreclosure attorney - it has happened a lot. A redemption in GA is almost impossible.

The point about no MERS record was that would have provided info on who holds the mortgage. 

There are 4 yrs of missing accounting and about $100k difference in their accounting vs. mine.

So we are at a standstill - they can't foreclose, negotiate a short sale, etc. I can't sell the house unless "they" release the lien. 

My goal is to find out who actually owns the note.

If the house were to sell, where exactly do the proceeds go? To an entity which has no legal documentation? To a trust series which no longer exists?

That was the reason for asking about quiet title or where/how to research a pass through trust series which seems to have been dissolved.