Foreclosure victims sued after losing homes by Heritage Pacific Financial


Foreclosure victims sued after losing homes

Foreclosure victims sued after losing homes


An Eyewitness News and California Watch investigation found that families across California were being sued after they lost their homes to foreclosure.

Mina Shahab lives in a cramped apartment in Woodland Hills. She shares it with her brother who is stricken with cancer. A few years ago, she took out two loans and bought a spacious four-bedroom home in Northridge.

It was the American dream for the native of Iran who came here looking for freedom. But she lost her job, and then lost her home to foreclosure.

“I love this country, and seeing this happen to its citizens is very painful,” she said.


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3 Responses to “Foreclosure victims sued after losing homes”

  1. lies is all they tell says:

    If all of you know real estate there is a term real estate agents are taught in school its call “caveat emptour” buyer beware. in mortgage broking business there is no such term. everyone trusted the ortgage broker we worked with. little did we know they were forging documents. falsifying income. predatory lending. no income verification. imagine how many loans owuld not have been approved if income verfication would have been done. but that was not part of the plan. the plan was to approve any mortgage, appraisers to ocme in at or above property value because all the loans were guaranteed. if they fail payment in full would be received (of course credit default swaps came about to increase the payout since they new these loans would fail anyway why not buy an insurance policy on the failed loans?) so there was noincentive to modify only to foreclose. they prolonged the proccess and lost paper work because every hamp loan application the banks/servicers were given 1k. to understand what is relay happen please watch the zeigeist addendum.

  2. Alina says:

    Here is a link to an attorney who is successfully suing Heritage Pacific Financial.

    Heritage cannot collect because tort claims are not assignable. The only thing that Heritage receives is an assignment of the contractual rights. These are very different and distinct types of assignments. Under California law, the second mortgage is wiped out when the trustee forecloses on the first mortgage.

    This information should go viral to alert consumers in California.

  3. Kenny Sanders says:

    Tell Barbara Boxer to retire or voluntarily surrender her property to a homeless family that needs it.


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