Showing posts with label bank. Show all posts
Showing posts with label bank. Show all posts

Monday, August 29, 2011

PHISHING ALERT

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7:52 pm | August 29, 2011

'Wells Fargo Bank' Phishing Calls Hit Area

POSTED: 4:24 pm PDT August 29, 2011
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The Oregon Department of Justice Consumer Hotline has received a surge of complaints about telephone calls claiming to be from Wells Fargo Bank. The caller is telling consumers that their debit cards are locked and that they should provide their debit card number to bank security. This is a phishing scam -- and it hit the High Desert Monday.

Oregon Attorney General John Kroger reminded Oregonians that legitimate financial institutions will never ask you for debit card, bank account or social security numbers, or for sensitive information, like your username or password, over the phone or by email.

• Never respond to phone calls or emails soliciting personal information. If you suspect it might be legitimate, pick-up the phone and call the company to confirm.

• Do not click on any links embedded in phishing emails. They may contain viruses or malware designed to steal your personal information.

• Make sure your computer has up to date anti-virus software.

The Attorney General's Consumer Hotline received nine complaints since late last week from the Portland area and the Willamette Valley about this scam, a significant number of calls for such a short period of time -- and many Central Oregonians reported getting similar calls Monday. Bank officials said they had been getting numerous calls about the scammers.

Anyone who believes they have been approached by a scammer should contact the Oregon Department of Justice at 1-877-877-9392 or www.oregonattorneygeneral.gov

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Wednesday, August 17, 2011

THEY TELL YOU NOT TO MAKE YOUR PAYMENTS TO SET YOU UP. TO PUT YOU ON THE PATH TO FORECLOSURE, NOT TO A MODIFICATION. ONCE YOU ASK FOR HELP, YOU'VE APPLIED FOR A FORECLOSURE FIGHT. CONGRATULATIONS.


The holidays have become a time of uncertainty and worry for a family on the verge of losing their home. They're caught in foreclosure fight after trying to get their loan modified and now they're taking their battle to court, saying the bank turned its back on them.
The Ulloa home is decorated for a happy holiday season, but Javier Ulloa and his wife, Nora, aren't sure how long they'll get to stay.
"We've been working very hard to do the payments on this house," Ulloa said.
For seven years, they made the payments but one month in 2009, Ulloa called the bank to tell them he'd be late. The bank, he says, gave him an alternative.
"They offer me a loan modification and they explain all of the process," he said.
Ulloa says the bank told him to wait two months for the new loan, which would lower his payments, but that didn't happen.
"I started getting worried because it was starting to take so long," Ulloa said.
Every month, he says he called and re-faxed information and was told to not make his payment.
"I was frustrated because I do all they said to do, and they never respond," he said.
Then, after a year, he got a letter telling him the bank was foreclosing.
"This is not an isolated incident," said Ulloa's attorney, Steven Smith.
Smith says he's seen this a lot and he's filed suit, claiming the bank wrongfully foreclosed on the Ulloa family.
"I don't think the borrowers in this case did anything wrong," Smith said."I think the system is just so broken."
For its part, Freddie Mac, the new owner of the Ulloas' home, said, "As a matter of company policy, we don't comment on litigation."
As for Wells Fargo, the Ulloas' mortgage holder, a company spokesperson told us, "We worked with the homeowners for over a year to try and find an alternative to foreclosure. Unfortunately, we were unable to do so. The home is now owned by Freddie Mac and we no longer service the loan."
The Ulloas just want their house back, even though it's worth less than what they're willing to pay.
According to estimates from Reality Track, there will be 1.2 million homes in the US foreclosed on by the end of the year. That's 300,000 more than last year.
The president's loan modification program was initially meant to help stop up to 4 million foreclosures but because of all the red tape, some estimate the program will only stop about 800,000 foreclosures.
(Copyright ©2011 KTRK-TV/DT. All Rights Reserved.)


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21 comments
Maybe another reader can help me understand this story. So far it looks like: Guy finds house, guy makes deal on house & signs agreement to buy, guy agrees to terms of purchase & bank loan, which he also signs. Guy takes possession of home he can't afford. Guy can't make timely payments. Bank starts foreclosure process. Nevermind the mitigating factors, this is obviously the bank's fault. Did I miss something? Mark As Violation
What I don't understand I mean when would a bank or any finance company whether it be a car or house say stop making payments until we re-negotiate the terms of your loan? I have never heard that happening. What I have heard of is people continue making their regular payments until the loan's terms are changed and agreed upon! People when you sign loan documents there are 2 clauses 1st clause Final Agreement these are the terms this is what you will pay etc if you sign you agree to the terms and thats it! 2nd clause ... Mark As Violation
Also its funny how its always somebody elses fault lol I mean these poor people they didnt do anything wrong they just stopped making payments and thought the bank would modify there loan because it's them? Its the mean ole banks fault that they couldnt afford there mortgage anymore right? Everything is the banks fault and the owners (previous owners) are just being robbed? Ridiculous... Mark As Violation
I inquired about home loan modification and was told by my mortgate company (Chase) that they would not be able to accept mortgage payments until the modification process was completed. Needless to say, I did not apply for the modification. The whole modification system is shady, along with the banks. And for all you posters who criticize about people buying homes they can't afford... lighten up! Situations change, people lose their jobs, divorce, death, etc...  Mark As Violation
Ditto number 2, since we had a high interest rate but were not late we got the biggest run a round from Chase and never got refinanced, modified, actually what we got was "ZERO." Our income went down and we stuggle to make the payments but why should they help us, they are getting their money. Mark As Violation
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Sunday, August 7, 2011

WAMU TRUST ASSIGNMENTS ALL FRAUDULANT

STUDY: Mortgage Assignments to Washington Mutual Trusts Are Fraudulent

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EDITOR’S NOTE: We know the foreclosures were gross misrepresentations of fact to the Courts, to the Borrowers and to the Investors. This article shows the crossover between the MegaBanks — sharing and diluting the responsibility for these fabrications as they went along. If you are talking about one big bank you are talking about all the megabanks.
The evidence is overwhelming. The reasons are many. But the fundamental theme here is that Banks are committing widespread fraud using the appearance of credibility just because they are banks.
Thus the strategy of pushing hard in discovery and persevering through adverse rulings appears to be getting increasing traction. Every time anyone, including judges, take a close look at this mess the conclusion is the same — the Banks’ foreclosures have been a sham. The homeowners still legally own their home and the lien is unenforceable or non-existent.
What part of the obligation of the borrower still exists? To whom is it payable? These are questions the Banks as servicers refuse to answer. It’s a simple set of questions that never had any bite to them until now.
From Lynn Symoniak
Mortgage Fraud
Bank of America
JP Morgan Chase
Lender Processing Services
WaMu Trusts
Washington Mutual
WMABS Trusts
WMALT Trusts
Action Date: August 6, 2011
Location: Jacksonville, FL
An examination of over 5,000 Mortgage Assignments to Washington Mutual
Trusts shows that these Trusts (WaMu, WMALT and WMABS) used Mortgage
Assignments signed by employees of JP Morgan Chase to foreclose. The
most prolific of the Chase signers, all from Jacksonville, Florida,
include Elizabeth Boulton, Margaret Dalton, Barbara Hindman, Patricia
Miner, Roderick Seda and Shelley Thieven. These Chase employees sign
as MERS officers on behalf of at least 30 different mortgage companies
to convey mortgages AND NOTES to Washington Mutual trusts that closed
years earlier.
In the vast majority of these cases, Bank of America is the Trustee.
Because the original loan documents are missing, Bank of America
allows Chase to make up new documents as needed to foreclose. The vast
majority of these Assignments state that the Trusts acquired these
mortgages in 2009 and 2010.
There are two separate frauds here:
1. not having the documents despite the promises to investors that the
documents were obtained and safely held; and
2. fabricating the replacement documents to foreclose.
In almost every case, Bank of America is the Trustee.
Did the FDIC just not notice any of this? There are thousands of these
specially-made Assignments signed by Chase employees for WaMu, WMALT
and WMABS trusts used across the country.
When Bank of America did not use documents fabricated by Chase to
foreclose, it used documents fabricated by LPS in Dakota County, MN.


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