DailyFinance | COURT: Busted Securitization Prevents Foreclosure

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DailyFinance | COURT: Busted Securitization Prevents Foreclosure

DailyFinance | COURT: Busted Securitization Prevents Foreclosure

On March 30, an Alabama judge issued a short, conclusory order that stopped foreclosure on the home of a beleaguered family, and also prevents the same bank in the case from trying to foreclose against that couple, ever again. This may not seem like big news — but upon review of the underlying documents, the extraordinarily important nature of the decision and the case becomes obvious.

No Securitization, No Foreclosure



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One Response to “DailyFinance | COURT: Busted Securitization Prevents Foreclosure”

  1. richard holter says:

    i am another victim of servicer fraud committed by GREEN TREE SERV. LLC.
    in feb. 2010 i called servicer to see how much my mortgage payment
    was this month. it seems to change at times. i was reffered to
    supervisor i think her name was eilene bishop. she informed me that
    they would not accept anymore payments they were going to foreclose.
    i recieved no further correspondance. until i was served in april
    during pretrial motions this statement was denied.i had made several
    inquirees about a loan modification thru the (H.A.M.P.) program as they as they had recieved $94,000,000,00 from the federal goverment
    for there participation in said program. i eventually rececieved
    a notice that i was not eligible because an investor or investors
    would not agree.i have not seen the original note but was told before
    that the note was owned by GREEN TREE. during summary judgement procedeings plaintive said i was not eligible for modification because it was a mobile home not real property. it is and has been
    since jan 2000 real property. the plaintives themselves referred to it as real property in all there motions. as a result of (unclean
    hands) circuit judge lawrence seminto granted plaintive foreclosure
    i am trying to appeal. i disabled diesel mechanic and have very little if any legal knowledge. i am disabled and am sole care giver
    for my 33 year old sverely (T.B.I.) and purchased this large mobile
    home on my 7.65 acers of land to be able to keep my son out of an
    instituion. we managed all right till my wife of 32 years died of cancer in 2008. i had a diesel repair shop which the economy and my
    health made me close business. i receive my wifes s.s. and a small
    v.a. pension from my service in the U.S.M.C. if anyone can be of
    assistance it would be a blessing. i can be contacted at rhgmdiesel@hotmail.com or 352 669 7371.

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