Nearly five years into the foreclosure mess and it already feels as if the crisis has been with us forever. Evidence is mounting that the housing crash is more than a financial crisis. There are multiple crises going on at once. The family crisis, job crisis, legal crisis, economic and health crisis show the heartbreaking effects of foreclosure on every family.
Imagine the despair. Maybe you’re a mother or a father. The bank is going to take your house. Maybe you’ve lost your job, which got you into this mess in the first place. And without a job, you and maybe your dependents are without health insurance. You’re supposed to be the one supporting your family and you’ve failed at providing the most basic needs. What happened to the American Dream?
The foreclosure process is incredibly difficult for many people. It’s the loss of that dream. It will be important for all of us to take a serious look at the "foreclosure crisis" as millions more face the end of their dreams in 2012. What happens to people who lose their homes? Will those responsible for the massive crimes ever be prosecuted? Will the victims ever be fully compensated? Will Congress take a final stand against Big Banks and their influence in Washington? Who will stand with the American families?
Politicians and those in authority have failed to help the people. Yes, the banks "got bailed out and the homeowners got sold out". The victims continue to struggle to get help. Our Court system continues to side with the banks while the investigations continues to be dragged on with no end insight.
Occupy LA is fully engaged in the foreclosure crisis. Since the beginning of our occupation at Los Angeles City Hall the 99% movement has been working hard in helping families fight for their homes. During our two month occupation, we held countless meetings, discussions and proposals on the foreclosure issues. Many homeowners attended workshops and classes to help them understand the crisis. During the City Hall occupation, Occupy LA installed a large "foreclosure tent" to assist those in need of help, providing strategic planning, support and resources to the victims.
Days following the eviction of Occupy LA from the grounds of City Hall
As Mayor Villaraigosa ordered the shutting down of the occupation at City Hall, Occupy LA was fully engaged in helping Angelino’s protecting their homes. Following the now infamous eviction, "the movement" successfully closed down a Bank of America foreclosure auction in the City of Norwalk. The bank was selling over 7,000 homes at a public auction. Many of those homes had questionable and fraudulent documentation. Other homes were been sold behind the homeowner’s backs while they awaited approval of their home loan modifications.
Experts are saying that in 2012 there will be as much as 10 million new foreclosures. OLA plans to be concentrating their efforts in helping homeowners fight for what belongs to them and will stand against the greed of the 1%.
—originally published on Occupied Los Agnes Times Issue #2
Select Portfolio Servicing, Inc.
Att: Research Department
3815 South West Temple
Salt lake City, Ut. 84165
Phone (866) 662-0035
File Number: 151112-002701
Account Number: 0012794566
Property Address: 369- 375 S. Marengo Ave.
Dear Ms. Paden:
First, in a response to your letter dated November 23, 2015 I would like to inform you that indeed, Bank of America modified my account on March 2010, however, the loan was not “brought current” but adjusted with interest and escrow money added within, an increase of my principle of almost forty thousand dollars .Thus, your phrase “brought current” is incorrect. Look at the payment history that you send to me attached to the letter and you will be able to see it.
The modification took effect March2110, document was notarized on January 20101 ,but due to the bank’s delayed the modification’s dates. February 2010 as well as January 2010, and March 2010 with three different dates on the documents the document should be amended. The modification was ratified on March 2010 by the court. After court ratification, on April (not May) 2010, (look at the payment history) the principle amount had gone from $ 910, 334.02 to $ 9448, 34.02. The payment history is attached to your letter and shows adjustment done in April 2010, after modification is already done.
I have a note from a representative from the Bank of America whom I discussed the terms of the modification for extended period of time and who faxed me a handwritten note “showing the adjustment” ( in his words) and ” our agreement” meaning : sending payments as agreed started March 2010. Thus, the first payment was going to take place on March 2010 and preformed. Thus, the loan was adjusted due to ongoing dispute with Bank of America that ended in the court Bank offered settlement knowing it has committed a fraud.
The principle increase, modification agreement takes place in March 2010. Still, it is unclear to me; 1) is this contract valid and 2) is this contract legal. First, the escrow account has never been created see the original Note and origination of the loan .Money is added to “escrow account” second, as to dates of the contract; it has three dates of execution. It is illegal to have many dates on one contract of the commencement of the contract.
In 2010,the payment history that you supplied me with shows my payments on March, April, and May ,July , November and December 2010 .Although, I made all the payments 2010, Bank of America omits many months all together and does not give me a credit for : June, August, September and October,2010.
In 2011, I continued making payments and Bank of America does not give me a credit for: January, March, and May, July 2011 but only for February, April, June, October 2011 and November 2011. Again, I am not given credits for my payment and some months do not exist in Bank of America’s accounting.
In July 2011, Bank of America sends my check back and refuses to take more payment putting me in Default. I am have no other choice but retain an attorney who sues Bank of America for breach of contract and negligence. Keep in mind that during that time I am not able to make payments while bank is making money- adding interest, legal fees and other “unclear” amounts just to make my principle increase.
As I motioned above, in April 2012, Bank of America offers a settlement while in December 2011 gives the loan to collection agency SPS, that also fallows with the Default Note and goes forward with foreclosure process. In other words: Bank of America admits their mistake and offers settlement and at the same time does not admit their mistake and is trying to collect money ,but gives the loan to SPS claiming I am in Default missing payments and thus should be foreclosed.
During all those years ,since modification in 2010, Bank of America and SPS illegally impounds insurance and continue to add money to my principle, sends to me a set of different notes with inconsistent and different principles. To prove illegality and negligence is a note I received, form a federal court, that United States Court for the Southern District of Florida filed the class action against SPS.
An attorneys : Taylor, Brash , , Bordeaux and , Simone are my expenses . Brash and Bordeaux tell me file the13 & 11 .I spend money because bank’s mistake in fight from being theft my home. I am not allowed to make payments.
During all the time I called SPS almost on daily basis but was told incoherent information that as inaccurate and on each occasion a different story, same as my payment histories send to me periodically from SPS .I was told my house will be sold due to my non payments not due to refusal of my payments .I believe all conversations were recorded and so I did take notes so my statements as to the facts can be proven.
Instead I had been asked to give bank statement for almost two years to show to proof to the bank I would qualify for a new modification (which I supplied on many occasions along with all other documents but was told the mail was not received!). I should instead be given my money back (principle adjustment, attorneys fees and punitive damages), be rewarded with a correction of the mistake the bank made and destroyed my credit, finance, my life .I also send all the payments and have proof: cashed checks payable to B of A and SPS.
During modification that is in process SPS told me the mail was not received. It is still going on. I just got new set of documents: Two and half years later. Finally, I send all the payment and proof of insurance via email and thus, have a proof of what was the content and I am able to show dates of my responses to SPS.
Since May 2015, and before ongoing conversation between SPS and I along with an attorney who spoke with SPS on regular basis. email@example.com. Under RESPA, mortgage servicer is required to provide certain information related to your loan and to correct any errors. If not, you can sue and recover money damages. If the servicer fails to take one of the required actions within the time limit, under RESPA a borrower may recover: any actual damages suffered by the borrower.
1 .If there is a pattern or practice of servicer noncompliance, additional damages not to exceed $2,000, 2. Attorneys’ fees and costs. 12 U.S.C. §§ 2605[f]1, 2605[f]3.
My payments were applied to a miscellaneous payment towards an insurance that had. Although bank’s mistake; I am charged interest legal fees, late fees while in fraudulent foreclosure status: I am not allowed to make payments. MY HOUSE IS IN FORECLOSRUREAND I CAN NOT MAKE PAYMENTS NOR COMMUNICATE WITH THE BANK.
I also have “an original” payment history from the origination of the loan that I asked the bank while with the bank on several occasion. The Payment history is different from the one received just recently from SPS, Ms. Paden. This proofs mistakes on the behalf of the bank or permitted conspicuous act of fraud.
I wish to get all legal fees refolded to me, the principle balance adjusted and payments credit along with. I wish to be compensated for punitive damages.
If you have questions my payments during years 2006, 2007, 2008, 2009, please do not hesitate to ask me any questions you have.