Faiz and Khadua Jahani sued Morgan Chase and its predecessor, Washington Mutual Bank, on their own behalf and on behalf of the public.
"When they called the 800 number, they were specifically told that as long as they were current on their mortgage they wouldn't even be considered for a loan modification," the couple's attorney, Piotr Reysner, said in an interview.
In their federal complaint, the Jahanis say they contacted the bank in December 2008 "to indicate that they were having trouble paying their mortgage and would like to discuss a possible loan modification."
The Jahanis say the bank representative told them "that they would not work with plaintiffs at all because they were currently not in breach of their loan terms. Plaintiffs were specifically advised at that time to stop making payments for a period of three months, at which time defendants would consider a loan modification. Plaintiffs were specifically informed that as long as they were current on their mortgage payments, that defendants would not consider a loan modification. ...
"Reasonably relying on the direction of defendants, plaintiffs stopped making their loan payments. Plaintiffs are informed and believe and thereon allege that defendants immediately reported to the various credit reporting agencies (Equifax, Experian and TransUnion) that plaintiffs were late on their mortgage payments. ...
"On or about June 23, 2009, defendants sent a letter to plaintiff entitled 'Notice of
Intent to Foreclose,' indicating that plaintiffs were past due in their mortgage in the amount of $100.65 and that plaintiffs need to bring the account current within 30 days to avoid foreclosure proceedings. No Notice of Default accompanied the letter, nor was any Notice of Default ever served on plaintiffs."
More Here..
DebtWatch No. 44 April 2010: House Prices Are Not Normal
More Here..
More of Bushes 'ownership' society at work.
ReplyDeleteBankers: The Enemy Domestic. The Enemy Within. The United States Military has been bombing the wrong targets, and sniping the wrong personnel. Soon the Americans, broken and bankrupt from a fools errand war, will be delivered into the hand of their creditors - the Chinese and European banksters. When the last remaining American war veterans are erased and their monuments pulled down, their cemetaries paved over, who will remember what America once stood for: personal liberty, justice, righteousness before God Almighty? The dark forces of evil are upon us all, bankrupting our very souls, if not our very home and hearth.
ReplyDeleteOh so typical, foreclose on the home, toss the family into the street, after all, now that their credit score is trashed, they can expect to have a very hard time moving into a rental property.
ReplyDeleteI see empty homes all over my area. Overgrown grass, or dead grass. Graffiti can be found from time-to-time. Broken windows. How can this be a good thing?
Soon the Banksters will be gone from our shores having taken the last of our cash and reserves...the remaining 401K's and Pension Funds. We'll be left with a broken financial and manufacturing system with no hopes of recovery and the Great Barry Soetoro is now taking away our ability to fight leaving us totally vulnerable. Whatever reserves you have left cash out and buy hard assets now...your time is fleeting and the criminals are drooling over the remaining reserves Americans have…you have until late May-June…that’s just 8-12 weeks!
ReplyDeleteUrban
I just don't understand one thing.
ReplyDeleteWhy would any bank reposses an asset that is losing values?
Would not it be better (for the bank) if the 'owner' keep paying the mortgage for a house that is worth less that the value of the mortgage?
bankers are greedy and stupid, people in my area are bulldozing their houses and then walking away
ReplyDeleteNo it wouldn't because the banksters know what we know. That fiat currency is being destroyed systematically and a house is a hard asset and worth something. Your serf/slave can live there.
ReplyDeleteThe banksters goal is to own all the land, homes, food distribution, anything that is real and leave the slaves holding little slips of paper, CDs, IRAs.
Banksters are a lot of things, but stupid is not one of them.
ReplyDeleteListen to Benjamin Freeman's speech given in 1961. He states that the Zionist bankers had a plan for America that would take about 50 years. To deceive via Religion and Fiat Currency. Religion would set up the Zionist as friends and good guys. The fiat currency would eventually bankrupt us and turn us into the next third world country. He was dead on.
ReplyDeleteI wrote about this on my blog. Feel free to visit. http://surviveright.blogspot.com/2010/02/dont-expect-to-keep-your-home.html
ReplyDelete