Sign Banking Document Michigan Later

Industry sign banking michigan document later

welcome back well we've all heard about the crimes above the banksters but how much do we really know you know certainly feel fire sign theater thing about you know you few if you think you know what's going on but everything you know is wrong could it be that everything we know is wrong about the the banksters and the housing situation in the United States lintz monica is whether she's an attorney president and founder of the housing Justice Foundation the website is th JF .org as in var housing Justice Foundation th JF doubt word and Lynn welcome to the program thank you very much sounds thanks for joining us I E your mortgage documents are fake it well yes they probably are I'm and and that applies to pretty much everybody who's listening or watching right now especially true if you refinanced or got a mortgage anytime I from 2004 through 2008 which is the era a extreme securitization in America this is one the banksters were running wild stamp lutely and to this day we don't have a handle on just how wild they were running and we know vaguely that they cause see crashing the American economy. but when you ask anyone um for some real specifics about mortgage-backed rough securitization all these bubbles with mortgages that investors purchased most people have very little idea over are what this was despite the fact that it was the major driver of our economy and our economic collapse train so what did you learn how did you learn and why did you learn well what I learned was a the Wall Street was so busy buying mortgages and bundling them into investment for are that they would register with the SEC that a lot of the things that were promised to investors a regarding safeguarding of the loan documents were never fulfilled so at what are the things that I discovered was a is just the extent up the problem in 2006 alone I'll Wall Street made over a thousand a beer bundle and you have to understand each bundle had about five thousand mortgages in it and it was quite common for the total amount of the mortgage is to be about a billion dollars I believe that the total amount I'll mortgage debt securitized just in 2006 how many loans did we put into these packages I was close to a trillion dollars 800 $85 billion dollars in one year which is a equivalent to 110 to the US total mortgage debt so we were a train going down attract we've had never been done before and we were going as fast as we possibly could to me out not you learned this because if your own personal experience with the banksters is that right yes I tells you to say I i've have a settlement sent them but I used to say my name is one for money I can I'm in foreclosure like it was the beginning of an AA meeting because so many people are so ashamed of their financial situation that they would never admit that they were in foreclosure but I felt like I came to mind very honestly my economic situation was are really brought on first by my own illness where I was unable to work for a couple years because a fight with cancer a long time ago twelve years ago but then um like millions of other Americans I had an elderly mother his eighty-six years old who a was no longer able to care for herself she had L families in Parkinson's I moved here in with my into my household and began taking care for with my children which is a very common scenario but it that's related to our health care situation in this country I and eventually I got to the point where was very difficult for me to make my mortgage payment and then I my loan adjusted I had an adjustable rate mortgage my loan adjusted I felt that it had adjusted other improper date because I had read the porch documents and knew what two months credit just I'm and they missed the adjustment date and rather than wait for their next opportunity under the contract they decided that I would just go if they would go ahead and adjusted the following month and I protester that said no no the contract says your opportunity is march in September you missed right and therefore you have to wait till September and they said well now you always a late fee haha and Europe but your lawyer you know to read a contract so you're pretty sure you were right yeah I was pretty sure I was right I am a lawyer I do know I'm at then practicing law for thirty four years and the contract was pretty plain they had to date wish they could just in a missed an adjustment a which is not uncommon a especially since the servicing rights to mortgages were being transferred a very very rapidly around the country so when I said no I'm not going to pay this additional thousand dollars a month than three months later I was sued for foreclosure but the the surprise to me with to shoot me I have been paying option one mortgage company I got my mortgage through option one but I with sued by somebody called Deutsche Bank National Trust Company as trustee for soundview home loan trust 2006 o-pee-chee one and I thought oh my gosh what a stack mean and I had some financial savvy about me had worked in the insurance industry and I'd worked in banking a little bit and I had no idea what that was shouldn't in that regard I am also like tens of thousands of Americans who are suddenly sued by a trust that they never knew own their mortgage mmm so you try to track down we just have a couple minutes left your lawn so you try to track down who actually owns your mortgage and it turned out that that was pretty hard to do and they started faking documents and thrown the match idea like everyone else I got the allegations we have you know we had you note we lost your note and then eighteen months later are what we call the aha moment moment we found your note and we not only found that we found an endorsement we found the mortgage assignment and that's how I discovered this woman linda grain which was just the name used by a mortgage servicing company you know by at least twenty different people finding names and mortgage taiwanese Rob Lowe sign for rice creating documents just artist in there that the that should have been safeguarded in trust you're not this is a crime forging a document is a crime did did the did this banker anybody at this bank go to jail well as a matter fact that presently a one of the few people in the the industry to go to jail the president this company Lorraine O'Reilly Brown was sentenced to five years two months ago and she's no hi in a camp said she also was satins to I think to 20 years in Michigan for racketeering for the same crime but know it it is as if to each bank had no idea that any of this was going on welfare of course they did because banks at judges in Ohio and other states were throwing their cases out left and right saying you can't prove you on the mortgage her and Deutsche Bank so ever been brought to tap so made answerable for using any of these documents so the carry home message when we were were at our last minute here at which I woodlands money at present found a house in Justice Foundation th FJ .org what should people do if they're having problems with their banks and they suspect that the bank doesn't actually even know who owns their document well they'd like me to send a demand letter to to the servicer explaining that they need copies of these documents they need to go into their official county records there are some but terrific county recorder's jeff Teague pan and John O'Brien both have web sites both explain these kinds of frauds and document fraud do you have information about this on your website link themselves give information about this on your website I sure do and you know there's a there's others there foreclosure hamlet a foreclosure fraud so there are web sites around MF fraud their web sites around the country the talk about all these issues and how to identify fraudulent documents but most likely you have a fraudulent mortgage assignment and most likely you know with never endorsed by the persons should have the first amazing amazing if you got a mortgage between 2004 and 2008 yes when somone EAC check out our web site th JF as in the housing Justice Foundation th JF .org upward Lynn thanks so much for being with us today thank you cam keep up the great work spread the word bye bye by we'll be right back this is the Thom Hartmann program meanwhile hundreds up thousands perhaps over a million phony mortgages out there right now yours might be 10