This Story Gets me SICK! This is A SCAM with what Banks ARE Doing!! Outrageous!

I am literally sick with what information this article has in it! How are they being allowed to do this? How is it the government is Allowing it?

There is fine print in the loan modification application saying the homeowners give up their rights to foreclosure notice if the bank rejects their loan modification, they can foreclose on them without notice, even when people are making their payments on time of the temporary loan modification.

The bank can decide they won't modify the loan and then simply put it up on auction without notice.

The woman in the article, had been making her payments and even made a payment on Nov. 30th for December, but had a knock on the door by the "new owners" who purchased it at auction that morning.

This is one of the MOST DISGUSTING THINGS I have ever read in what banks are doing AFTER GETTING BILLIONS AND TRILLIONS!

ANYONE WHO HAS A TEMPORARY LOAN MODIFICATION NEEDS TO BECOME AWARE OF THIS - IMMEDIATELY - THEIR HOUSE CAN BE TAKEN WITHOUT WARNING!!

Link to Article:

http://www.mcclatchydc.com/227/story/80867.html


WASHINGTON — Ten months after the Obama administration began pressing lenders to do more to prevent foreclosures, many struggling homeowners are holding up their end of the bargain but still find themselves rejected, and some are even having their homes sold out from under them without notice.

These borrowers, rich and poor, completed trial modifications of their distressed mortgage, and made all the payments, only to learn, often indirectly, that they won't get help after all.

How many is hard to tell. Lenders participating in the administration's Home Affordable Modification Program, or HAMP, still don't provide the government with information about who's rejected and why.

To date, more than 759,000 trial loan modifications have been started, but just 31,382 have been converted to permanent new loans. That's averages out to 4 percent, far below the 75 percent conversion rate President Barack Obama has said he seeks.

In the fine print of the form homeowners fill out to apply for Obama's program, which lowers monthly payments for three months while the lender decides whether to provide permanent relief, borrowers must waive important notification rights.

This clause allows banks to reject borrowers without any written notification and move straight to auctioning off their homes without any warning.

That's what happened to Evangelina Flores, the owner of a modest 902 square-foot home in Fontana, Calif. She completed a three-month trial modification, and made the last of the agreed upon monthly payments of $1,134.60 on Nov. 1. Her lawyer said that in late November, Central Mortgage Company told her that it would void her adjustable-rate mortgage, which had risen to a monthly sum above $2,000, and replace it with a fixed-rate mortgage.

"The information they had given us is that she had qualified and that she would be getting her notice of modification in the first week of December," said George Bosch, the legal administrator for the law firm of Edward Lopez and Rick Gaxiola, which is handling Flores' case for free.

Flores, 58, a self-employed child care worker, wired her December payment to Central Mortgage Company on Nov. 30, thinking that her prayers had been answered. A day later, there was a loud, aggressive knock on her door.

Thinking a relative was playing a prank, she opened her front door to find two strangers handing her an eviction notice.

"They arrived real demanding, saying that they were the owners," recalled Flores. "I have high blood pressure, and I felt awful."

Court documents show that her house had been sold that very morning to a recently created company, Shark Investments. The men told Flores she had to be out within three days. The eviction notice had a scribbled signature, and under the signature was the name of attorney John Bouzane.

A representative in his office denied that Bouzane's law firm was involved in Flores' eviction, and said the eviction notice was obtained from Bouzane's Web site, www.fastevictionservice.com.

Why would a lawyer provide for free a document that gives the impression that his law firm is behind an eviction?

"We hope to get the eviction business," said the woman, who didn't identify herself.

Flores bought her home in 2006 for $352,000. Records show that it has a current fair-market value of $99,000. The new owner bought it for $78,000 at an auction Flores didn't even know about.

"I had my dream, but now I feel awful," said Flores, who remains in the house while her lawyers fight her eviction. "I still can't believe it."

How could Flores go so quickly from getting government help to having her home owned by Shark Investment? The answer is in the fine print of standard HAMP documents.

The Aug. 25 cover letter from Central Mortgage Company, the servicer that collects Flores' mortgage payments, offered Flores a trial modification with this comforting language:

"If you do not qualify for a loan modification, we will work with you to explore other options available to help you keep your home or ease your transition into a new home."

CMC is owned by Arkansas regional Arvest Bank, itself controlled by Jim Walton, the youngest son of Wal-Mart founder Sam Walton.

A glance past CMC's hopeful promise finds a different story in the fine print of HAMP document, which contains standardized language drafted by the Obama Treasury Department and is used uniformly by lenders.

The document warns that foreclosure "may be immediately resumed from the point at which it was suspended if this plan terminates, and no new notice of default, notice of intent to accelerate, notice of acceleration, or similar notice will be necessary to continue the foreclosure action, all rights to such notices being hereby waived to the extent permitted by applicable law."

This means that even when a borrower makes all the trial payments, a lender can put the house up for auction if it decides that the homeowner doesn't qualify — assuming that foreclosure proceedings had been started before the trial period — without telling the homeowner.

Until now, lenders haven't even had to notify borrowers in writing that they'd been rejected for permanent modifications.

In January, 11 months after Obama's plan was announced, homeowners will begin receiving written rejection notices, and the Treasury Department finally will begin receiving data on rejection rates and reasons for rejections.

The controversial clause notwithstanding, the handling of Flores' loan raises questions.

"Foreclosure actions may not be initiated or restarted until the borrower has failed the trial period and the borrower has been considered and found ineligible for other available foreclosure prevention options," said Meg Reilly, a Treasury spokeswoman. "Servicers who continue with foreclosure sales are considered non-compliant."

CMC officials declined to comment and hung up when they learned that a reporter was listening in with permission from Flores' legal team. Arvest officials also declined comment.

McClatchy did hear from Freddie Mac, the mortgage finance agency seized by the Bush administration in September 2008. Freddie owns Flores' loan, and spokesman Brad German insisted that Flores was reviewed three times for loan modification.

"In each instance, there was a lack of documentation verifying that she had the income required for a permanent modification," German said.

That response is ironic, said Michael Calhoun, the president of the Center for Responsible Lending, a nonpartisan group in Durham, N.C., that works on behalf of borrowers.

"These lenders gave loans with no documentation and charged them a penalty interest rate for doing so. And now when the people ask for help, they are using extravagant demands for documentation to give them the back of their hand and continue to foreclosure," Calhoun said.

German said that Flores was sent a letter on Nov. 24, which would have arrived several days later, given the Thanksgiving holiday, informing her that she'd been rejected for a permanent modification. Flores and her attorney said she never got a letter, and neither Freddie Mac nor CMC provided proof of that letter.

Exactly one week after the letter supposedly was sent, Flores' home was sold to Shark Investments. That company was formed on Aug. 19, according to records on the California Secretary of State's Web site. Shark Investments, apparently an unsuspecting beneficiary of Flores' woes, has no phone listing. The Riverside, Calif., address on the company's filing as a limited liability company traces to a five-bedroom, four-bath house with a swimming pool.

German didn't comment on whether Flores received sufficient notice under Freddie Mac rules, or how the home could move to sale so quickly.

Flores' legal team, which specializes in foreclosure prevention, thinks that lenders and servicers are gaming Obama's housing effort.

"It seems servicers are giving people false hopes by sending them a plan, and they are using the program as a collection method, getting people to pay them with no intention of modifying the loan," said Bosch. "I believe they are using this as a tool to suck people dry."

Dashed hopes aren't exclusive to the working poor such as Flores.

David Smith owns a beautiful home in San Clemente, Calif., the location of the Richard Nixon Presidential Library. Smith purchased his five bedroom home four years ago for $1.3 million. Today, the real estate Web site Zillow.com estimates the value of Smith's home at $981,000, slightly below the $1 million he still owes on it.

Smith said he went from "making a lot of money to making hardly any" as the national and California economies plunged into deep recession. He's a salesman serving the hard-hit residential and commercial construction sector. On top of his hardship, Smith's mortgage exceeds the limits for the HAMP plan.

In late August, Smith signed and returned paperwork in a prepaid FedEx envelope to Bank of America that said it had received the contract needed to modify the adjustable-rate mortgage he originally took out with the disgraced lender Countrywide Financial, which Bank of America bought last year.

The modification agreement shows that Bank of America agreed to give Smith a 3.375 percent mortgage rate through September 2014, and everything Smith paid between now and through 2019 would count as paying off interest. He'd begin paying principal and interest in October 2019, with the loan maturing in 2037.

The deal favors the lender, but Smith, 55, jumped on it because it kept him in the home.

Armed with what he thought was "a permanent modification," Smith returned a notarized copy of the agreement and made subsequent payments on time.

In return, he got a surprising notice from Bank of America saying that his house would be auctioned off on Dec. 18.

"It looks like they're trying to sell this out from underneath me," Smith said. "My wife cries all the time."

After a Dec. 16 call from McClatchy asking why Bank of America wasn't honoring its own modification, the lender backed off.

"The case has been returned to a workout status and a Home Retention Division associate will be contacting Mr. Smith for further discussions," said Rick Simon, a Bank of America spokesman. "The scheduled foreclosure sale will be postponed for at least 30 days to allow for review of the account in hope of completing a home retention solution for Mr. Smith."

The Center for Responsible Lending says such problems are common.

"Everyone acknowledges that the system is not working well," Calhoun said.

No One has Responded from Missouri Yet - For Class Action Suit - and NOT Get Foreclosed on

PLEASE, We ALL NEED someone to please come forward to be the representative for a Class Action Suit against MERS, From Mid Missouri.

The person needs to have Foreclosure papers filed against them - The foreclosure could be Stopped!

Also people are needed from Montana, Rhode Island and Minnesota who are willing to be representatives for the suit.

Please, if you know of ANYONE in those areas who are being foreclosed on - Have them contact me!

LETS DO THIS!! WE CAN STOP FORECLOSURES TOGETHER!

NEED SOMEONE IN MID MISSOURI FOR CLASS ACTION LAWSUIT AGAINST MERS

Need IMMEDIATELY - Someone IN MID MISSOURI - Who has Had Foreclosure Papers Filed Against Them!

UPDATE 12/03/09 10:30PM Out of 14 million homeowners in mortgage trouble, isn't there ANYONE in Missouri, Montana, Minnesota, or Rhode Island that is willing to Keep their house and be a Representative?
Please Contact me!

I need someone who is willing to be the representative in Missouri for a Class Action Lawsuit AGAINST MERS (Mortgage Electronic Registration Service)


UPDATE 12/03/09 1:15PM - PEOPLE ARE NEEDED IN THE FOLLOWING STATES TO BE REPRESENTATIVES IN THOSE STATES - WHO HAVE HAD FORECLOSURE PAPERS FILED AGAINST THEM:

RHODE ISLAND
MINNESOTA
MONTANA


Almost all mortgage servicing companies go through MERS!

Including Countrywide, Bank Of America, Wells Fargo, Litton Loan, Fannie Mae - In other words almost EVERYONE!

Judges have been ruling against them. This is what I have been working on in getting a law firm to take on a CLASS Action LAWSUIT AGAINST MERS For ALL 60 MILLION HOMEOWNERS, Before the Plague in the Ukraine has taken up my time!

There is a law firm in Nevada who is taking it on, they had one already in the works when I contacted them!

Now - they need IMMEDIATELY someone in Mid Missouri to be the representative of that state for ALL Homeowners!

The lawyer will be sending me a list of ALL the states they need people in - So you can expect another post as this one - listing what states people who have had foreclosure papers filed against them are needed!

BUT - AWESOME NEWS IS: The lawyer had asked me for someone in Mid Missouri a couple of months ago - I listed that need on my "Sherriequestioningall" Blog.

Someone contacted me - I gave them the lawyers information - Well - The attorney told me today "Thanks to you" the mortgage company - Citibank - WALKED AWAY FROM THE MORTGAGE - THE PEOPLE GOT THEIR HOUSE FREE AND CLEAR!!!!

She did not explain it completely - but I assume- when they said they were going to be the representatives for a Class action suit - Citibank - GAVE THEM THEIR HOME!!

Now the lawyers NEED SOMEONE ELSE - LIKE YESTERDAY!!

PLEASE CONTACT ME - IF YOU ARE IN MID MISSOURI - HAVE HAD FORECLOSURE PAPERS FILED AGAINST YOU -

I will give you the attorney's Name and number when you contact me - I do not want to put their information out here!

ALSO - if you are a lawyer and are interested in helping and joining in this lawsuit, please contact me! One lawyer who has out of Georgia is now helping with this.

This Class Action lawsuit is for all NON- Judicial Foreclosure States - the lawyers are trying to figure out how to help those in the Judicial Foreclosure states out.


THIS WILL NOT COST ANYONE A DIME! ALL THOSE WITH MERS MORTGAGES WILL IMMEDIATELY BE A PART OF THE CLASS ACTION SUIT!

For a list to see if your state is a non-judicial or a judicial foreclosure state - see this link:http://www.all-foreclosure.com/procedures.htm


To understand MERS and rulings against them - please see the following links.

http://dannlaw.wordpress.com/2009/10/04/ohio-supreme-court-lets-wells-fargo-v-jordan-stand-foreclosure-plaintiffs-who-do-not-own-the-mortgage-at-the-time-of-filing-lack-standing-to-pursue-cases/

http://www.upi.com/Real-Estate/2009/10/04/Nevada-Suit-Could-Halt-Thousands-of-Foreclosures/7301254678994

http://indianalawblog.com/archives/2009/09/courts_in_kansa.html

http://theforeclosuredetonator.wordpress.com/2009/09/28/kansas-supreme-court-rules-in-favor-of-homeowners/

http://www.dsnews.com/articles/mers-role-as-mortgagee-challenged-in-kansas-court-ruling-2009-09-30

http://www.globalresearch.ca/index.php?context=va&aid=15324 - Kansas Supreme Court Ruling against MERS


http://www.webofdebt.com/articles/mers.php

http://www.projo.com/business/content/HO_MERS_Lawsuit_10-25-09_LOG44C1_v15.1c5d26b.html

http://www.nytimes.com/2009/10/25/business/economy/25gret.html?pagewanted=2&_r=2&partner=rss&emc=rss New York judge ruling last week against MERS - forgave whole debt!



FORECLOSURES HAVE TO STOP!! IT GETS ME SICK ALL THE PEOPLE BEING KICKED OUT ON THE STREET WITH THEIR FAMILIES AS THE BANKS ARE GETTING TRILLIONS OF DOLLARS!!!!

WHEN THE CLASS ACTION SUIT IS FILED (HOPEFULLY WITHIN THE NEXT COUPLE OF WEEKS) THEY WILL FILE AN INJUNCTION AGAINST ALL MERS FORECLOSURES UNTIL THE SUIT IS SETTLED! Hopefully the Judge will Approve the Injunction!!

MERS HAS NO STANDING TO FORECLOSE ON PEOPLE - THEN PEOPLE COULD STOP PAYING THEIR MORTGAGES!!

I WILL NOT TAKE ANYONE'S PERSONAL INFORMATION - I WILL STRICTLY GIVE YOU THE ATTORNEY'S NAME AND NUMBER FOR YOU TO CONTACT!!

Why Doesn't Kitco Have Any Silver Eagles For Sale - Why shipping Gold Eagles OUTSIDE U.S. ONLY?

Why Doesn't Kitco Have Any Silver Eagles For Sale - Why shipping Gold Eagles OUTSIDE U.S. ONLY?

I just looked at Kitco's list of bullion for sale. I found TWO Very Interesting Facts!

One - Kitco does NOT HAVE ANY 1 OUNCE SILVER EAGLES FOR SALE!

Two - Kitco will ONLY Ship U.S. Gold Eagles OUTSIDE The U.S.!

Consider this too.

It seems the last couple of days the Comex has been settling with ANYONE who wants delivery of Gold with CASH - NOT GOLD!

There is a rumor that Comex is settling in cash with anyone who is wanting to take delivery of gold. Monday the 30th of November was the first day - anyone who had a future contract for December could request delivery. It has been said - the 2000+ future contracts who requested delivery - were INSTEAD Paid out in Cash NOT GOLD!

Are they out of Gold?

Also, please know the U.S. mint has Suspended U.S. Gold Eagle Coin Sales - as they have oversold on current orders and their inventory depleted!

The U.S. Mint said on Wednesday it will suspend sales of the popular American Eagle 1-ounce bullion coins as rising demand depleted its inventory. "The United States Mint has depleted its current inventory of 2009 American Eagle 1-ounce gold bullion coins due to the continued strong demand for this product," the Mint told its authorized dealers in a memorandum on Wednesday.

November sales to date were at 124,000 ounces, higher than the 115,500 ounces sold in each month of September and October, the Mint said.

The Mint said it expects to resume sales in early December.

More at link.

Will they start reselling them - is there gold for them to start selling them again?

What Gold and Silver - Lots is happening behind the scenes! HOPE You Got Some!

Kitco's List of Bullion for Sale - for Dec. 2 2009


Gold Eagle 1 oz
(Only shipping outside US) $1,308.20

Gold Eagle 1/10 oz $163.52

Gold Maple 1 oz
(Only shipping to US) $1,296.09

Special Gold Maple 5 X 9 pure 1 oz
(Only shipping to US) $1,356.66

Gold Buffalo 1 oz
(Only shipping outside US) $1,320.32

Gold Maple 1/4 oz
(Only shipping to US) $343.71

Gold Maple 1/10 oz
( Only shipping outside US) $162.91

Gold Maple 1/20 oz
(Only shipping outside US) $96.90

Gold Krugerrand 1 oz $1,296.09

*Gold Bar 400 oz (Please place order by phone) $486,720.00

*Gold Bar 100 oz (Please place order by phone) $121,980.00

Gold Bar 1 oz
(Only shipping outside US) $1,236.30

Gold Bar 1000 g
(Only shipping to US) $39,330.20

Gold Philharmonic 1 oz $1,265.81

Silver Philharmonic 1 oz
(Only shipping to US) $21.67

Silver Maple 1 oz
(Only shipping to US) $21.37

Silver Bar 1000 oz $19,570.00

Silver Bar 100 oz
(Only shipping to US) $2,030.00

Platinum Maple 1 oz $1,639.44

Platinum Koala 1 oz $1,639.44

Platinum Noble 1 oz $1,639.44

Platinum Eagle 1/2 oz
(Only shipping to US) $838.61

Platinum Eagle 1/4 oz
(Only shipping to US) $434.41

Platinum Bar 10 oz
(Only shipping to US) $15,470.00

Platinum Bar 1 oz $1,576.00

Palladium Maple 1 oz $435.00

Palladium Bar 1000 g $13,406.54