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Old 04-09-2012, 06:17 PM   #29
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Old 04-09-2012, 09:40 PM   #30
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Quote:
Originally Posted by doc View Post
What makes the bank a thief? If they had offered you folks a good deal on a loan and you took it, then they would be your hero. Just because stupid people borrowed more money than they could repay and lost their homes does not make the bank a bad person. Did the bank come knocking on their doors begging them to take a loan? Not likely. More likely these people came to the bank and asked for a loan, then failed to comply with the contract they signed and defaulted. Does that make the bank the bad guy?
In this particular case Ott is just a common criminal with a bold imagination and a soul of larceny. How any of you can rejoice, in a loss that will cost any customer of that bank, says a lot about how you would be do deal with and your character. Hope I am wrong but you guys are made the statements. Were you blustering or genuine?
Who you talking too?
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Old 04-09-2012, 10:59 PM   #31
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I had a medical emergency and had to file bankruptcy, in the process I lost my home. I'm a disabled veteran, and the VA has no problem giving a loan guaranty for a new home since it has been nearly three years since my bankruptcy was discharged.

No problem getting a loan, right? Wrong. The bank that held the mortgage on my former home that was surrendered can't produce the mortgage note, and thus cannot foreclose and gain title. According to the lender, I still own the house. Also according to the lender, I can't enter the property I supposedly still own, because they control it, having changed the locks and posted warning signs. The house has been broken into, the air conditioner and appliances stolen, and the house is unfit for habitation.

I'll never own another home because of the lender's ineptitude and poor business practices. They should have recorded the note, they were cheap and decided that it cost too much money to record. I'm permanently barred from getting another home loan as long as the note cannot be produced by my former lender. My former neighbors now have a derelict house in their neighborhood. I'm now full-timing, and not by choice.

Do I feel sorry for the bank in the RV loan case? Not one little bit. They cut corners and lost. Of course they never really lose anything, they just go back to Uncle Sam and beg and plead for a bailout. Since Congress is in big finance's pocket, they get it.

As for a disabled vet who needs a fresh start, who did everything he could to pay what he owed but was overwhelmed by medical bills, people like me are being told there is nothing that can be done, after all, we were irresponsible for borrowing money in the first place. That seems to be the consensus here.

My wife would have been better off financially if I hadn't have gone in for a routine examination which discovered the heart condition that would have killed me in a week without emergency surgery. She would not have had me, of course. But the life insurance proceeds would have paid off the house.

Banks? No sympathy here, with their CEOs making millions while they screw middle class families, they can all go hang for all I care.
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Old 04-09-2012, 11:50 PM   #32
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Hey Richard, I feel for ya brother..

I'm thinking you prolly dont want the old house back the way it is now, but, you could get a judge to declare the bank at fault, you innocent of wrong doing, and absolve your interest in the home..

Though, I'm wondering how they foreclosed without producing a note for the courts? Didnt you have one?

http://www.huffingtonpost.com/2009/0..._n_294169.html

http://dictionary.law.com/Default.aspx?selected=1707
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Old 04-10-2012, 02:52 AM   #33
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Hey Richard, I feel for ya brother..

I'm thinking you probably don't want the old house back the way it is now, but, you could get a judge to declare the bank at fault, you innocent of wrong doing, and absolve your interest in the home..

Though, I'm wondering how they foreclosed without producing a note for the courts? Didnt you have one?

Who Owns Your Mortgage? "Produce The Note" Movement Helps Stall Foreclosures

Legal Dictionary | Law.com
And there is the problem. The lender got the house in the bankruptcy, as I couldn't keep it and save our business at the same time. But they can't foreclose because they never recorded the original mortgage note at the county courthouse (to save a few bucks in fees and tax stamps, no doubt) and Florida judges, having been burned by "robo signing" banks who sought to foreclose on houses that never had mortgages, won't foreclose without a note. My copy of the note is just that, a copy and it is inadmissible in court. No note, no foreclosure, and my wife and I are in permanent limbo unless we pay cash. So we might just find some land here in the mountains, pay cash, and slowly but surely build an RV port with an acre or two. Not what we dreamed of when we sold our business and found a home here that we eventually could not finance, but at least it would be ours free and clear that way.

Sorry for hijacking the thread. But don't get me started on sympathy for the banks. They played fast and loose and would grant a loan to your pet beagle if they thought he had a bank account. In the aftermath, it's people like my wife and I who get thrown under the bus with those who flipped houses and lost, who used their house like an ATM, and those who defaulted because their home value tanked.

But we tend to look on the bright side. Our elderly fiver may have a few dings and hail dents, but I've added a few features over the years like satellite radio and TV, a generator, and new awnings. It's modern and up to date, and best of all, it's paid for.

All of this drama might be a blessing in disguise.
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