Mortgage Servicers’ Secret
Posted in Mortgage
The secret mortgage servicers don’t want you to know is they can make MORE money off of homeowners when they keep your loan in default. A former employee of loan servicer EMC tells the inside story why so many people can’t get their loan out of default.
Video Rating: 4 / 5
Texas Mortgage Info: How your mortgage person structures your loan is more important than the getting a low rate. www.mylendingplace.com
Video Rating: 4 / 5
THIS IS CRAZY
home sales have been down lately … and some people have strategically defaulted on their mortgages
i got a solution, fuck the bank and deal with an individual owner that owns the property and buy it from them. thats what we did and we havent got fucked!!!
This would be a great program if banks actually participated in it. We have been working with bank of America on a short sale for a year now and now we have been waiting fro a response from the negotiator for three months and this included two? lafa escalations @shortsalesbank2010
This is why so many people fuck up the house when the house goes into foreclosure. I say fuck it up so bad that it will take them years to sell it. File bankruptcy, chapter 7.. So they can’t get the deficiency. Since Obama knows this and isn’t doing anything to stop the greed, fuck that house to the ground and walk away.
Good stuff
Good reporting! How is this now in June 2010 with EMC? Please let me know if you can. Thank you,
Shirley Farrington shirleyafarrington@hotmail.com
Great Youtube. I have actually started piggybankblog com for all those who were abused by Bank of America or Countrywide.
John Wright
Piggybankblog com
In Addition to demanding banks produce the original note and prove they have standing. ALSO? I have my condensed reference notes up on a web page!!!!!!
w w w. constitutionalvoices. org/bloggers/freedomblogger2/?page_id=1300
((((DELETE THE SPACES))))
Correspond with me if you like Jeff / CAJeffO@yahoo. com
P.S. Let’s fight together and put the pressure on the banks!!!
I wish I had a quality whistleblower like this lol – any NAB employees willing to come forward let me know
fucking crooks
Make them produce the original note signed by you. If they sold it, they won’t be able to do that. So you win your house back and can stay there until you’re able to pay it off.
Even when one of these lenders goes bankrupt there are banks making money on that as well. All of this is about making money while it looks to the public as though they are not. Example, One West Bank bought Indymac’s loans now garanteed by the govt for 80% of the orig loan amount. Even as they got a discount on the cost of the loans they bought. They then sell the defaulted property to an invstor. The govt pays them 1st for the “loss”and the investor pays them 2nd for the house.
You can stay in your home, An agency in DC helped me to get the bank to finally work with us. I reduced my payment 46% for 5 years and the get started info was free and the paperwork was less than $200 I went to delay or stop foreclosure online, it was easy to find, also goes by homeowners assistance info, use discount code 7129098 as there is a grant available to keep costs under 200. I am so relieved and every American deserves to stay in their home good luck and God bless
This strategy works, An agency in DC helped me use this to get the bank to finally work with us. I reduced my payment 46% for 5 years and the get started info was free and the paperwork was less than $200 I went to delay or stop foreclosure online, it was easy to find, also goes by homeowners assistance info, use discount code 7129098 as there is a grant available to keep costs under 200. I am so relieved and every American deserves to stay in their home good luck and God bless
this video is a crock of shit, maybe you should see that homeowners are underwater on their mortgage by 50%a house mortgage for 300k now worth 175 it cost a bank thousands to foreclose so losing a few hundred a loan does not make a profit
Hi consumerwarningnet
I have just been watching your video and I must admit it really is very good.
I really enjoyed watching it.
Already looking forward to more of the same in the future.
Cheers to your success.
Mark McCulloch
These guys are right. I was a lender, asset (REO) manager for big banks for 20years.
When Wall Street teamed with the banks and securitized these loans they screwed the public but they also left themselves open to real valid foreclosure defense.
Good news to the people for a change.
God love you.
Henderson is a hero.
If the American people ever allow private banks to control the issue of their currency, first by inflation and then by deflation, the banks and the corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered .
-Thomas Jefferson
OCWEN Scumbags
THANK YOU FOR EXPOSING THE TRUTH ABOUT FORECLOSURES !
so sorry that it will not help those of us being put put on the street !
YES IT IS !! STILL THE SAME OLD BS
I have been COUNTRYFRIED and like refried beans Fried again by BANK OF AMERICA
IT IS ALL A HUGE SCAM from TARP to
HUD/HOPE all the so called Loan Servicers are actually collection agents
or Legal Firms to protect the Banks.
Just online today you can buy a poisionus FEMA Trailer for $5.00 and try to park it somewhere ? when you lose your home.
truly an eye opener
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Great video, some useful advise , much appreciated , for all interested here is a link to free ebooks on loans :
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If you are in California, you might want to call my friend. He is a an amazing loan agent, and he is affiliated with one of the largest originators of mortgages on the West Coast. Try his website at MortgageHelpLosAngeles.
Check out my channel: LandonTalksLoans
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Ampedee, I’m a mortgage broker and banker. I used to work for one of the largest banks in the country and to be honest our fees and costs were so much higher than brokers. Large banks spend money on advertising and pay salaries.
What is the Key disfavors by Having Your Mortgage
realmortgagepaid.blogspot. com
hoyl hell this guy is a good sales man, but being in the mortgage industry my sell i see right through alot of his bulshit. GETTING YOUR LOAN THROUGH A BROKER MEANS UR GOING TO PAY MORE IN FEES, BECAUSE THAT LOANS GOING TO JUST END UP AT ONE OF THE BIGGER BANKS IN THE LONG RUN ANWAYS…..
Hey Bank of America! You didn’t do squat for me and my husband. You promised the world but delivered nothing. So why don’t you get off this website and go do somethingproductive??? Like….get an education!
mortgageartist. com
The best thing you can do is arm yourself with knowledge, even better if it’s free. a little time and a few clicks now could save you years and thousands of dollars later.
the choices you make today define your tommorow.
very professional response b of a.
That is a great video, you break it down very well.
lots of info here
A good mortgage is like a work of art.
mortgageartist. com
Your path to the best free mortgage information resource around.
I am a mortgage underwriter and PMI is for conentional loans only. FHA loans have MIP. This is not new. No, mortgage insurance is not required on a conventional loan when 20% is down. If less than 20% PMI is required. The 3% loan he speaks of is now 3.5% now in todays market is an FHA loan. Most folks that do not speak on that type of loan is not approved to do FHA loans. Not too many companies do 2nd liens any more. The lender is the best loan to do because the fees are less.
Mmmmm, that doesn’t make sence. I work for Bank of America, and the normal customer is required to put down 20% to not pay PMI. You don’t need to pay PMI, unless you have less than 20% equity in your home. Please talk to me if you have any other questions
I work for Bank of America. We do many different scenrios for our customers. I will always give many different product scenrios based on my customer’s information. You really don’t know what your talking about.
You are now required to have a PMI on a FHA loan for it’s lifetime? Even with putting 20% down? When did this happen?
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that is very awesome i love this
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Very informative video. I took some notes on the video and how it was done. I gave it 5 stars. Check out our vids and tell me what you think? We have some good stuff also.