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.
Saturday, February 09, 2013
Outside Pressure Causes Bankster To Come Clean, Admit Escrow Screw-Up That Wrongly Triggered Loan Default & Subsequent Foreclosure Sale On 91-Year-Old Widow/Veteran's Home
In Pasadena, Texas, KTRK-TV Channel 13 reports:
Severina Wilson is a 91-year-old widow, and a veteran of both World War ll and Korea. And through no fault of her own, she was about to lose her Pasadena home.
On Friday, widow and veteran was to be evicted from her home but she had done nothing to lose it. Proving it was another matter, until some lawyers with hearts and a bank willing to correct the mistake intervened.
Wilson has seen a lot in her life. She served in the Army during World War II and during the Korean War, she was assigned to the Marines. What she never expected to see was a foreclosure notice. "And I got the letter the house had been sold," she explained to Eyewitness News.
Last year, Chase Bank refused Mrs. Wilson's mortgage payments because there was an escrow problem -- and not of her making. Her proof of insurance was never passed on by the branch bank to the mortgage division. That triggered a default, so her home was sold to Fannie Mae, and she can't take surprises. "I have a heart condition and they say if I get too stressed, I could have a heart attack," Mrs. Wilson said.
***
Chase Bank issued a statement Tuesday afternoon saying, "We have resolved Mrs. Wilson's mortgage situation so she can stay in her home permanently."
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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