FHFA OIG are going after delinquent homeowners ... potentially CRIMINALLY

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FHFA OIG are going after delinquent homeowners … potentially CRIMINALLY

FHFA OIG are going after delinquent homeowners … potentially CRIMINALLY

AND who told you to Strategically Default and that you MUST be 3 months late in order to apply for a modification?

THE BANKS!


Chicago Tribune-

Investigators are searching not only for lenders who have sold materially deficient loans to Fannie and Freddie, but also individuals, including those who reneged on their promises to repay their mortgages. So if you are a “strategic defaulter” who decided it was better to walk away from your obligation than to keep paying for a house that was worth substantially less than you owed, it’s time to start looking over your shoulder.

[…]

These are not just borrowers who made a personal, strategic financial decision not to pay. In some cases, they remained in their houses for months or even years, living free on the government’s dime — and yours and mine — before moving on. In other instances, they profited handsomely by renting their properties to unsuspecting tenants, collecting rent for many months but never paying lenders.

[…]

If there is any indication that you falsified information on your new loan application, the OIG is “absolutely” going to refer you for criminal prosecution, Wolfe said. “We’re not just going to demand repayment,” he said. “We’re going to lock (people) up.

[CHICAGO TRIBUNE]

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8 Responses to “FHFA OIG are going after delinquent homeowners … potentially CRIMINALLY”

  1. Sarah says:

    Wow, what a pleasant thought. The Banks intentionally delayed evicting you, you took care of the home while in financial ruin, now you’re a criminal too.

  2. Dont prosecute the criminals the banksters, but prosecute the home owners and throw them in prison. That should be good for the economy. WOW what a crock of *@*@*@*@*@*@*@*@*

    http://stopforeclosurefraud.com/2012/09/14/lanny-breuer-admits-that-economists-have-convinced-him-not-to-indict-corporations/

    What a take over by the crooks!

  3. FDL MA says:

    The death blow will be when the courts are forced to deal with the fact that MERS never had the legal capacity to enter into these mortgages. Nobody ever gave them the capacity to contract and be named beneficiary of the mortgages. In reality, MERS is contractually bound to never claim any interest in the underlying mortgages. It cannot be the nominee for the lender stated in the mortgage, because prior to the mortgage being contracted, they also have pledged all their right, title, and interest in the note and mortgage to the warehouse lender, who is not a party to either. Neither MERS, nor the “pretender lender”, has the legal capacity to bind either the borrower, or the warehouse lender, who are the parties giving, receiving, claiming, and entitled to the consideration. At the same token, neither MERS, nor the “pretender lender” can be bound by the contract because neither is subject to the consideration. This is what Bob has been trying to hammer down. EVERY MERS mortgage is void ab initio (from it’s inception). A party who has no legal capacity to enter into a contract renders it a nullity.

    nullity n. something which may be treated as nothing, as if it did not exist or never happened.

    Here is a very easy to understand explanation of what makes a valid and binding contract. http://www.otto-graph.com/samples/3/contractlaw.html

  4. Sharon says:

    FDL MA you are fortunate to live in a state that actually protects their citizens and in one out of a 100 times will actually rule in a citizen favor. I live in Colorado and you have absolutely no property rights what-so-ever. Larry Castle of the foreclosure mill lawfirm Castle, Meinhold, Stawarski et el wrote the laws so all you need is a corrupt lawyer’s signature and they can take your home. MERS doesn’t even enter into the picture. And Colorado residents are either too dumb to realize it until it’s too late or are too stubborn to know that it is not the homeowners fault. Many say dah, if you didn’t pay your mortgage, blah, blah and repeat these talking points no matter what the circumstances. Colorado has a habit of learning lessons after its too late. So in other words your property will have to be destroyed from fracking and water from your faucet becomes the ingredients for a blow torch before the dumbass Coloradans realize they probably should have regulated the greedy ba%$##ds.

  5. Tim Bryant says:

    What FHFA fails to understand is that the GSEs have produced directives, publicly available, demanding mortgage servicers to commit fraud upon the court, falsify public records, extort funds through illegal means, etc.

    This is an issue I would not push if I were them. It has a good chance of backfiring.

  6. Ken Hansen says:

    This is pure fear mongering – stop paying at once if you can’t afford it, and walk away. Fraud is what Banks have done.

  7. So, are they going to criminally prosecute the executives of the Mortgage Bankers Association for strategically defaulting on their headquarters? Hmm, why do I think the answer is “no.”

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