Luciano 
Member since Feb 4, 2008

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Re: “Stolen Property?”

Unfortunately I am in the same boat as this man, I know how he feels, I will never give up either.

In 1998, I did an equity loan with WMC Mortgage Corp for
374K, my home of 18 years had appraised for 575K at
that time so it was perfect target for equity stripping.

WMC was to pay off my first mortgage with The Money Store
in 1998 but never did. I received tons of default notices from
TMS and contacted WMC who assured me they would fix the
problem. A month after that 1998 closing, TMS forever closed
its doors. I never heard from them again however, the Note/Deed of Trust for their mortgage which was 289K were
never released.

WMC did a bait and switch, put me right back into an adjustable which was why I did the refi in the first place since TMS was an adjustable rate mortgage.

In 2000 my monthly payment went from 2900.00 to 4800.00, there was no way I could make that payment. I filed bankruptcy to try to save my beloved home. I was 60 years old at that time.

Filing bk was a bad decision that court trampled all over me,
thought it was fine that TMS was never paid and lifted the Stay for WMC in January 2005 despite the fact that my Plan payments were current and my home was fully insured.

I could not get an Injunction, filed another bk after dismissing the previous one.

In the meantime Quality Loan Service of California, Holthus, etc. became the Trustee.

In May 2005 I discovered that WMC had sold the loan to Fairbanks now known as Select Portfolio after the Curry
settlement. The bad part, WMC sold the loan to Fairbanks four months before I filed bk and or back in January 2000. Did the bk judge care? Of course not...he told me to take the matter to superior court.

Factually WMC filed a false proof of claim in my Bk, got the Stay lifted through fraud and never mentioned the fact that they had committed fraud.

Fairbanks sold the loan to JP Morgan Chase who listed my home as bank owned in April 2005. All three added 150K into the payoff for the legal fees they incurred which they owed to
Snell & Wilmer in Phoenix.

My home was sold at auction on June 21, 2005 without Quality ever sending me a notice of trustee sale. Aside from that they misrepresented the home to be in the town of Carefree when it was not but none of this convinced any judge thus far that this is wrong especially in a non judicial foreclosure state.

The current judge in superior court fully knowing that in June, 2006 TMS was finally paid off by ALTA in Florida which is still another alias of Fairbanks. I furnished tons of evidence and
for the September 2007 hearing on WMC, Fairbanks, JP motion for summary judgment the judge granted it to them.

I even procured a 2007 from HomEq who again informed me that the first mortgage to TMS was paid September 7, 2005 and or almost three months after my home was sold to a third party investor at auction.

WMC, Fairbanks, or JP presented no tangible evidence. The court relied on the opinion of their attorney who claimed, this happens all the time, mortgage company's forget to release deeds of trust and that loan was paid years ago meaning TMS.
No it was not. WMC and the rest lucked out only because TMS
went under. I did get notices now and then from a company called First Union but they could never find me in their system. Ultimately, First Union sold those TMS accounts to HomEq.

The only money WMC ever put out to me was the 22K equity for which they were overpaid @ 2900. per month by me until I filed bk.

I almost forgot the day of the trustee sale I motioned the bk court and forwarded a copy of the Title Report from a agency which showed TMS to be the true and only first mortgagor on my home. Bk judge blew it away and refused to Set the illegal sale alive.

If this had not happened to me I would never believe it in a million years. It is insane. I have told the judge, I would have been better off if my car was stolen...Sheriff Joe would have found the thief and my car would have been returned. The
courts are sorely in need of investigation.

I also am fully convinced that the illegal buyers are connected to Fairbanks.

Another update. I filed a complaint with the Banking Department and just received a letter from JP Morgan Chase who claims they aren't at fault because they sold this immaginary loan to the Bank of New York in October 2006!
How did they do that? They already sold my home to AFG
who sold it to TNT Properties Doug Hardin in June, 2005.
These pooled loans are illegal.

My best wishes and best of luck to Mr. Dillion, like him I too
am a fighter for justice and will never rest until I see these
companies in prison where they belong.

Anyone having a similar story can contact me at
ipredict7@aol.com















1 like, 0 dislikes
Posted by Joyce Luciano on 02/04/2008 at 3:55 PM

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