Online unsecured loans
Like Freedomwon for the past nine months, me for seven but while online unsecured loans living month to month sending demand letters and watching the Recontrust calendar to see if the sale will be rescheduled beats homelessness it is not a long term solution. Like Jeffrey Shurtliff was saying recently the way to fight illegal foreclosures in a nonjudicial state is to enforce your rights nonjudicially.
And that may require thinking outside the envelope and some thinking on your feet. But the methodology escapes me, how to go about it… 1. First off ( in bold)--if some atty cash advance support is telling you that it will take 50K...
There is an atty in florida who is going thru what you and I are going thru. She just happened (as a homeowner) to become a poster child in the foreclosure wars. I know that you are in CA, and I say this with every being in my atty body in TX there is an atty in CA that feels just like me... The bottom line in a non judicial state is to file a petition for wrongful foreclosure. BofA suddenly credited your account with 24 separate online unsecured loans payments within 1 weeks time that amounted to 60k? And then immediately following you see investor reversal back out of your account.
Was the investor reversal done as direct lenders for personal loans 24 separate line items or as a 1 lump sum transaction? BofA as the loan servicer is supposed to advance the monthly payments to the investor regardless of whether or not the homeowner has made their monthly payment.
We have no proof that was being done, but if so, that online unsecured loans money had to come from somewhere within BofA. Perhaps the money (payments being made from the bankruptcy trustee) was being held in a suspense account. Is BofA trying to deceive the investor on your loan by utilizing deceptive bookeeping practices? You can claim to be completely confused but perhaps the investor could shed some light.
An impound account was added to his loan, money dis-appeared out of his account then later re-appeared just before the taxes were due.
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However, you can get an idea of what info (from the top of the graph) is included with each loan each month. EDIT: The above attached example is from a BONY monthly detail of the CWAB my loan is in, which I found on their website. As you will see, there are categories at the top of the example to indicate whether, (1) a payment was made (2) what arrears are associated with the loan etc.
I did not include an example of this, but I have seen loan numbers that do not have a payment applied. I know that BOA could not report the loan as a default while in CH13 plan. Would the statement of payment history on isisis account serve as concrete proof that is what is low credit score personal loans going on or perhaps prove check kiting? BTW - my loan never even appeared on the reports until March 2011 even though I went into default in Sept 2009.
I know that BOA could not report the loan as a default while in CH13 plan. This is one of those things that I can just accept what you tell me without having to completely understand it. This can be exhausting at times, but I do enjoy the continued intellectual challenge. In CH13 the judge will order a payment amount (which the bank or other creditor may or may not agree with). The individual will make one lump sum payment to the trustee monthly for ALL of the creditors listed in the BK. Then the BK trustee distributes the money received amongst the creditors.
The payments loan pre approval to the creditors are not paid on a monthly basis. A mortgage which will outlast the 5 yr period of BK is paid through the plan but that part of the monthly BK payment is not paid automatically to the online unsecured loans mortgage.
This sort of paper game explains how they did it and anyone wanting to explore the extent of what they did could research the incidence in other trusts.
While accomplished in deceit, they would be hard pressed to explain a legitimate purpose for their accounting sleight of hand to anyone with experience in this sort of thing. If this is what it appears to be as our friend Midsouth has pointed out there may well be a competent attorney eager to take this one. Interesting what you found out about just four investors left.
I think almost all the trusts stopped reporting and some speculate they no longer even exist.
I wonder if the loans you saw disappear could have been because they never were really in the trust.
I understand they appeared to be considerably over collateralized at first because loans were placed in more than one pool. The whole issue with the trusts is the biggest mystery in this to me both in terms of what really happened and in terms of how the banks expected to get away with it. Right now I have a Validation of Debt letter that Bofa has given an initial response to that deals with that issue and they claim they are investigating it further, in other online unsecured loans words they are seeing what they can safely say in response without committing themselves online unsecured loans and their litigation department down the line. It is interesting to me that you say yours is a private Trust.
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You make an interesting point about the possibility of those decision having influenced the privatization of those trusts. I knew the loan was improperly securitized as it was assigned four years after the trust closed and likely never delivered or endorsed but now it appears to have been improperly securitized even further up the chain having been transferred fraudulently and never having met the requirements in IRS provisions. Our old payment had the property taxes secured personal loan bad credit escrowed but, NOT the homeowners insurance and windstorm insurance-we paid those directly to the insurance company.
This is how it used to be--with an interest rate of 7.
I am assuming that BOA has included the HO insurance and windstorm insurance--but the docs do not indicate that.
So, do we continue to pay our monthly homeowners insurance and windstorm insurance or not? Since 2007, the LoanSafe forums have helped millions of 500 dollar loan homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. I kept getting phone calls from BOA because I was past due, it got to the point where I decided to ignore their phone calls. Then she asked me if I applied for loan modification, I informed her that I had talked to several people and I was told that I do not qualify. Few days later I received the Fed Ex package with the trial starting in September.