Stop PHH Mortgage

Lets join together to save consumers from PHH Mortgage's bad business practices

Calling the FBI

Posted by CM on November 25, 2009


1 in 4 UNDERWATER, You probably heard this yesterday, I sure heard it and read it in many places.  Roughly 23% of American Homeowners owe more than their house is worth1 and good luck refinancing, modifying or selling that bottomless pit.  “40% of borrowers who took out a loan in 2006 are underwater and 11% of borrowers who took out a loan in 2009 are underwater1.”  

This is a very sad and sorry state in our current homeownership world.  I can honestly say that I am not surprised.  My own home was underwater and impossible to sell and a foreclosure resulted from that.  We should expect to see another wave of foreclosure statistics just dedicated to those attributed to homes underwater.  What more is there to say on the subject?  How bad does this situation have to get before someone will do something? 

Treasury still doesn’t get it, Over the summer I wrote a lot of letters on a variety of subjects pertaining to our foreclosure crisis.  I finally got a generic letter in reply late last week.  You all have read the petition letters and I even posted one letter to Geithner on this blog.  You all know that I write about specifics (I hope you do!).  This letter is so generic and not even worth the paper it was printed on.  They didn’t even reply to any of my concerns.  The Treasury just doesn’t get it.  With our elected and government officials passing off generic form letters for replies to concerned citizens, will we ever get anything done to regulate mortgage servicers?  See the letter here

Calling the FBI, I have received some comments about people calling the FBI regarding their mortgage servicer, PHH Mortgage.  I say, Go For It!  So, all of you, think about your situation and if you think the FBI might be interested, well why don’t you call too!  I thought about my situation and I don’t think the FBI would care if PHH refused short sale offers for my house.  I could be wrong……

Sources:
1. One in Four Borrowers is Underwater. Ruth Simon and James R. Hagerty. The Wall Street Journal. 11/24/09.
URL: http://online.wsj.com/article/SB125903489722661849.html?mod=rss_whats_news_us&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wsj%2Fxml%2Frss%2F3_7011+(WSJ.com%3A+What%27s+News+US)&utm_content=Google+Reader

 

Note, As a result of The National Consumer Expo, I am excited to add a new link to this blog!  Please check out the Alabama Consumer Law Blog.  The blog contains incredibly useful articles related to our fight against mortgage servicers.  I plan to learn from the blog!

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5 Responses to “Calling the FBI”

  1. Andrea Allan said

    PHH Mortgage and most of the financial institutions are doing everything in they’re power to dissuade,and discourage most of the consumers who qualify for many of the HAMP Programs made available by the Obama Administration. My friend Eric Steven and I have the same Phh Mortgage. Eric hired an attorney to do hs hoe modification first PHH lost (5) faxes sent from a law firm, Months of being in review 7 to be exact then Mr. Stevens received a certified letter from PHH that his home would be in auction in 3 weeks, they also posted the summons to his home and people were driving by to preview before the sale- it as at this point his attorney finally made some headway and all he got was an $800 decrease in his mortgage(certanly not a modification) just a ploy to set Mr. Stevens up for another foreclosure in the future-(WHICH WON”T HAPPEN ) but that’s the strategy of PHH Mortgage and most FInancial institutions. Our Government loaned billions of dollars to continue and stay in business-and what have they done.. continued with Golden parachutes to CEO’s that put their companies in financial disarray which makes most consumers blood boil , then they turn around and invest the money in the stock market again to try to make up their losses instead of doing what they said which was WORK with consumers that home loans, and had a financial hardship those are the loans that qualify and instead foreclosures are going thru the roof, it’s also taxing our Animal Shelters- they’re over-run with animals and having to euthanise more perfectly healthy animals because people are being discouraged, and disuaded from getting a home loan modification. This era will go down in history as the Home LOan Fraudification and highest suicide and homicide rates ever in the history of the AMerican people. Thank God President Obama has beefed up our FINANCIAL FRAUD TASK FORCE, this past Tuesday. Now is the time to get the emails to the President of your financial institutions Tell them how long you’ve been waiting for them to Modify your HOme Loan. But now your contacting your Government so they will know who to investigate . This works did it and I don’t even have a B.A , but i do have a lap top. So get off your duft, and take action ,,, YOUR ACTION will bring about the change we need. , and will also change your energy.
    God bless and have a healthy Thanksgiving. I have copies of media emails ,, if you contact me I will be happy to attach and send to you.
    Andrea Allan

  2. June Reyno said

    Homeowners must take control of the situation early to stop these thieves from stealing their homes and investment property. Must start thinking of yourselves as Investors and not succumb to being victimized by these financial institutions whom our government appears to support in stealing these homes for additional profit. The National Alliance of Homeowners for Justice dba: Helping Families Save Their Homes Foundation is seeking for volunteers to help us assist distressed borrowers at risk of losing their homes as part of the conspiracy to defraud homeowners. The time to act is now not later. Let us heat from you hoping to increase our contact list by adding names to our database.

  3. June Reyno said

    What’s working for homeowners to reverse foreclosure? If you are not having success in stopping the Bankster Fraudsters we would like to hear from you.

    People who have walked away from their homes don’t know they still own their homes. How? Because…
    “if a property has one arguably defective foreclosure in it’s back title, the purchasers right now may not be able to refinance or sell it” according to Pitt, who works for a Law Firm Robinson & Cole, which has an office in Boston.

    Justice Keith C. Long of Massachusetts Land Court found that two foreclosure in Springfield were invalid because ownership of the mortgages was not clear at the time of foreclosure.

    The foreclosing party must hold both the mortgage and the note together and show it for the foreclosure to be valid.

    Our findings at the National Alliance of Homeowners for Justice reveals that homeowners who believe they have been wrongfully foreclosed and believe they are victims of mortgage servicing fraud can file a lawsuit to take back their property even though someone else has moved into their house after sheriff eviction reversing the Trustee Sale. –June Reyno 858-361-2399 NAHJ California

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