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Posted by Kathy on March 24, 2007 at 22:52:18:
In Reply to: I'd turn the property ... posted by RSI on March 24, 2007 at 19:58:33:
Rsi,
Thanks, for the comments. I'll talk to my attorney about the input you've given. As far as other attorney's most act like I'm stupid when speaking of such a matter. And I've been told that it'll more than likely cost a large sum of change to challenge such a big outfit. I know I don't have this kind of change. I know in speaking with my attorney the other day that he told me he used to work with a law firm who may be able to help me with a class action lawsuit against them but he's trying to come up with a gameplan that isn't going to make the judge give this lender another 30 days. That's the thing.
He told me as well that he talked to attorney again this last week for servicer and they still have nothing but the original instrument we signed. Which does nothing to explain who my lienholder is. Just that I created this debt.
April 5th is the next court date around the corner and the lender will have had 3 30 day continuances as of this date with nothing to prove still. No ownership has been determined...I was surprised/dumbfounded that attorney has advised me to ignore the bankruptcy courts demand for payments to be in escrow. Cause of what you mentioned about them really having a right to service my loan.
I have the money. I've always done as instructed usually. Never been one to be in trouble or ordered to do something in any court of law.
But while were talking about stuff like this I'd like to pick your brain some more if I may. No one has been able to help me with this scenario either.
My profession is actually that of a bill collector. At one point I did bankcard. Then went into mortgage collections. So I do know alot most don't know. But what about when you interview with an employer and go over things only to find out two and half years later you were lied to? I worked for a large national agency. And we were the primary receiver of Chase(CMMC)...We'll they told me when I took job they had the right to sell notes on behalf of them if the people wouldn't pay.
So we sold discounted mortgages. Come to find out they didn't have it in their contract to do such. But I dealt with people that bought these. Built a repore with them and still speak to them. However, one investor paid $80,000 for some 2nd mortgages.The face value was $300,000-$500,000. And CMMC it seemed always took longer to get paperwork out when assignment was done and such with them. They claim said investor didn't wait the goodbye/hello letter time period before contacting debtor.
Anyway, one of the debtors somehow actually got back to THE PRESIDENT OF CMMC. To complain about the tactics of another collector who was dealing with his loan. And the new note holder. It was sold to one of my investors. Not my file but I knew the investor so did he. So she bought the one this guy gave the debtor such a hard time on. And a few others for the $80,000 and when complaint came in they started playing dodgeball when it came time to do all the paperwork. I was instructed to just hang up phone. And not to speak with her again.
However, to me that just wasn't right.I'm not a thief but sure felt like one. Well as far as I know Chase actualy quit selling notes when this happened. But they bought out bank one and they still sold notes. But who knows anymore. As far as I know she still has never received her money back or the notes.
So the question is what is someone's rights on something like this? Do you know? Seriously they never had the right to sell them in the first place. But a continued practice from when they collected for Advanta Mortgage. The unemployment office is like the judge pro employer/creditor.
I can't believe there's no banking regulations broken here. I was just a collector but I was efficient. Regardless of all I produced the numbers. But this was done by being effective to make it a win/win situation for all. Or else do u think anyone would of paid me? Even if it was their mortgage?
Seriously I was told by management that if their placed here work them.
have one. And with relentless searching it seems there's no schooling unless you have a bachelor in business, or finance. But with 14 yrs now in this business and the family I've searched for internships to no avail. Any advice? I can't afford to be a processor with such a smaller wage for what my skills are in effectively doing transactions. Do you know of any crossover training? Do you know what my chances could be if I took any classes possibly from the ABA for underwriting or know of underwriting schools? Four years is just so long. As I need money now.
Sorry for the rambling. But my questions and statements have been ignored by most. Or unanswered. Just because their tough questions it seems. But if anything has intrigued me its real estate. And I've just wanted to learn as much as I can. Even though I've tried I've ended up with no success right now. But definitely am not giving up in what I want to know. It's just not something I wanted to know as an investor its actually been a profession.
As I actually did care...Even if I was asking them to repay. Even got Thank You cards.
Thanks a Bunch!
Kathy
