Re: Wrongful Foreclosure due to Predatory Lender Service

---

Posted by Raj on August 24, 2003 at 05:21:50:

In Reply to: Wrongful Foreclosure due to Predatory Lender Service posted by Tonya on August 22, 2003 at 17:37:14:

: For the past month I could not find anyone willing to assist me with my case. I live in San Joaquin County where most attorneys are not familiar with Predatory Lending and many have told me they have a conflict of interest with representing me in an Unlawful Detainer case filed by the new investor who purchased my property  he is very influential in our community.
: I am sending this notice to seek urgent assistance.

: July 8, 2003 my property was wrongfully foreclosed by National City Bank /First Franklin Financial (a San Jose,CA- HQ Lender). I have over 70K in equity and was foreclosed on in error from the Lenders Servicing Departments (Loss Mitigation & Collection). Both departments have not worked with each other on several incidents and this has caused a wrongful foreclosure.

: My Story:

: I had fallen behind on my mortgage due to an illness. First Franklin offered a mortgage repayment plan in Sept 02 to save my home and catch up. The new mortgage plan would be to repay 1.5 times the normal monthly mortgage for 10 months until current. This plan was steep and First Franklin acknowledged that it was a tight budget because my debt to income ratio was too high. The plan was offered that if I make a few payments at this rate they will re-negotiate the plan later if needs be, but that this will rate will show the Lender I am serious about keeping my home. This repayment plan was to remove me from any foreclosure processes as explained by the Loss Mitigation personnel. There would be no Trustee Sale, no Foreclosure and credit would reflect payments as agreed, but still show late until caught up. I understood and agreed with the plan.
:
: While the Lender worked on the formal plan, A Trustee Sale date was set for Nov 12 02. I was told that the Trustee Sale was never to have been ordered and that it was an error. The sale was stopped. After making a few payments as agreed, I tried to refinance through Merit Financial and was advised by a Sr. Loan Officer not to make a Jan. payment as it would be included in the new loan, this action caused me to breach my repayment plan, After advising the Lender of the incident, they were kind enough o allow me to make both Jan/Feb payments to catch up. I had until Feb 28 03 to make payment, but found out that on FEB 13 03 there was another scheduled Trustee Sale date, First Franklin said it was another error on their behalf. Again, the sale was stopped only a few hours from the scheduled time. Adding to the stress, I had problems with my employer who was not paying on time or proper wages, the employer was going belly up  fast. I advised the Lender and also requested a new repayment plan to assist with the hardship I was starting to experience.

: While working with the Lender in Loss Mitigation, the Collections dept sent me a notice May 3 regarding a breach contract and that I had until June 2, 03 to cure the past due balance approx $6000. I continued working with Loss Mitigation on getting a repayment plan and offered $2700+ (which would cover 2 months regular mtg payments) towards the past months payments. The Lender continued to advise me they are working out a new plan and will see if they can accept partial payments, since I am showing good faith of making trying to cure past due balance. After a month of trying to get the financial sheet from the Lender, they mailed it out on June 2nd which was the last day for me to make a payment according to the Collection letter. On June 5th, I recd financial sheet and faxed o Lender, confirmed receipt by Lender employee and waited for response. While they worked with me on the repayment plan, another Trustee Sale date was scheduled, I was never notified of it and my home was sold on July 8th. I had been working with First Franklin during the whole time and no one advised me of the sale.

: I currently have an Unlawful Detainer suit against me filed by the new investor and have a court date on Sept 2, 2003 @ 9am. The investor has been forcing me to sign a forbearance agreement that waives ce

Follow Ups:

---

Name    : 


E-Mail  : 


Subject : 



Comments:




: : For the past month I could not find anyone willing to assist me with my case.  I live in San Joaquin County where most attorneys are not familiar with Predatory Lending and many have told me they have a conflict of interest with representing me in an Unlawful Detainer case filed by the new investor who purchased my property – he is very influential in our community. 


: : I am sending this notice to seek urgent assistance.





: : July 8, 2003 my property was wrongfully foreclosed by National City Bank /First Franklin Financial (a San Jose,CA- HQ Lender). I have over 70K in equity and was foreclosed on in error from the Lender’s Servicing Departments (Loss Mitigation & Collection).  Both departments have not worked with each other on several incidents and this has caused a wrongful foreclosure.   





: : My Story:





: : I had fallen behind on my mortgage due to an illness. First Franklin offered a mortgage repayment plan in Sept ’02 to save my home and catch up.  The new mortgage plan would be to repay 1.5 times the normal monthly mortgage for 10 months until current.  This plan was steep and First Franklin acknowledged that it was a tight budget because my debt to income ratio was too high. The plan was offered that if I make a few payments at this rate they will re-negotiate the plan later if needs be, but that this will rate will show the Lender I am serious about keeping my home.  This repayment plan was to remove me from any foreclosure processes as explained by the Loss Mitigation personnel.  There would be no Trustee Sale, no Foreclosure and credit would reflect payments as agreed, but still show late until caught up.  I understood and agreed with the plan.


: :  


: : While the Lender worked on the formal plan, A Trustee Sale date was set for Nov 12’ 02. I was told that the Trustee Sale was never to have been ordered and that it was an error.  The sale was stopped.  After making a few payments as agreed, I tried to refinance through Merit Financial and was advised by a Sr. Loan Officer not to make a Jan. payment as it would be included in the new loan, this action caused me to breach my repayment plan, After advising the Lender of the incident, they were kind enough o allow me to make both Jan/Feb payments to catch up.  I had until Feb 28 ’03 to make payment, but found out that on FEB 13 ’03 there was another scheduled Trustee Sale date, First Franklin said it was another error on their behalf.  Again, the sale was stopped only a few hours from the scheduled time.  Adding to the stress, I had problems with my employer who was not paying on time or proper wages, the employer was going belly up – fast.  I advised the Lender and also requested a new repayment plan to assist with the hardship I was starting to experience.  





: : While working with the Lender in Loss Mitigation, the Collections dept sent me a notice May 3 regarding a breach contract and that I had until June 2, ’03 to cure the past due balance approx $6000.  I continued working with Loss Mitigation on getting a repayment plan and offered $2700+ (which would cover 2 months regular mtg payments) towards the past months payments. The Lender continued to advise me they are working out a new plan and will see if they can accept partial payments, since I am showing good faith of making trying to cure past due balance. After a month of trying to get the financial sheet from the Lender, they mailed it out on June 2nd which was the last day for me to make a payment according to the Collection letter.  On June 5th, I rec’d financial sheet and faxed o Lender, confirmed receipt by Lender employee and waited for response.  While they worked with me on the repayment plan, another Trustee Sale date was scheduled, I was never notified of it and my home was sold on July 8th.  I had been working with First Franklin during the whole time and no one advised me of the sale.





: : I currently have an Unlawful Detainer suit against me filed by the new investor and have a court date on Sept 2, 2003 @ 9am.  The investor has been forcing me to sign a forbearance agreement that waives certain civil rights to the property and has refused to accept any fair market rental money I have offered unless it accompanies the forbearance agreement.  





: : In short, I will be evicted and homeless with my children (as I have no family to assist me) – all because of First Franklin / National City servicing errors which have occurred more than a couple of times! 





: 


: Tonya,


: Once the foreclosure sale is cancelled the process has to start all over again. This means you being notified again as you were the previous time as per laws of the state. Other laws e.g. publication of notice  of sale in corect time frame etc must also be followed. Since you were not served notice of the foreclosure auction, proper legal 


: process was not followed and the foreclosure sale was illegal and must be reversed.It is that simple. Try to get an attorney from a neighboring city. Do not try to pay the rent to the person claiming to be the new owner.Your position is that you are still the legal owner of the house because the foreclosure was illegal since due process was not followed. You may additionally seek help from the state attorney general's office and call local TV and newspapers and get them to investigate on your behalf.


: ABOVE ALL YOU MUST FIND A COMPETENT ATTORNEY. Call the local bar association. They will give you a few names.


: Raj








Optional Link URL : 


Link Title        : 

If you press "Preview Message," you are taken to a preview screen where your
message is shown to you before allowing you to post it.
Your message is not finalized until you click "Post Message".

---

Foreclosures Section

Foreclosure Help

Foreclosure Investing

Real Estate Articles

Our Site Resources

Discussion Archives