Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Wednesday, July 18, 2012
80+ Year Old Sisters Victimized By Loan Servicer; Find Themselves In F'closure After Being Duped Into Missing Mortgage Payment To Qualify For Loan Mod
In Sand Springs, Oklahoma, Tulsa World reports:
At 82, Joyce Jackson is the spry younger sibling who takes care of her older sister and teaches cooking and gardening.
Her sister, Doreen Wood, suffers memory loss and lingering health issues at age 84 after a serious illness several years ago. Jackson is glad to take care of her older sister's finances and health because Wood can't drive or live alone.
But both women say they feel victimized by Wood's mortgage service company, CitiMortgage. They say they were told to stop making payments in 2010 on the Sand Springs home, where Wood previously lived for decades, to qualify for a payment modification program.
CitiMortgage refused to give them a timely response about whether they qualified for the program and began foreclosure proceedings in early 2011 without their knowledge, the sisters say.
***
"I feel so frustrated," Jackson said. "Out of one side of their mouth, they were talking to us about modification, all while beginning the foreclosure process. That's incredibly dishonest. They had no intention of helping."
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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