Who actually owns First Franklin now??? Need to respond to foreclosure summons

[selphie]

Hi all, so I finally received my foreclosure summons (even though I am part way through a NACA driven modification withe Home Loan Services) and the plaintiff is listed as Deutsche Bank National Trust. When I saw them listed I had a "what the hell????" moment.

As I understood the chain of purchase it was as follows: NatCiti owned FF then Merrill Lynch purchased it, then BOA purchased ML so BOA should be listed as the plaintiff, no?

In my response (which Home Loan Services told me not to bother submitting to the court, hahaha) I wanted to inform the judge and attorney that I am currently midway through a modification, but I also wanted to call attention the the fact that the plaintiff is not the actual owner of the mortgage.

What I am asking of the forum:

1.please update me / correct me if BOA is no longer the true owner of FF.
2. give me a tip or example of how I can structure my reply to the court while also bringing attention to the possibility that the plaintiff IS NOT the true owner of the mortgage.

Thank you kindly.

P.S. - I can not afford a lawyer so any suggestion to go to one will fall on deaf ears. I have 28 days to respond and want to use that time wisely. TY

[Catherine]

Dear Selphie,


I just wanted to say how very sorry I am your dealing with Home Loan Services. After months of the run around lies and false hope they were working with me I too came to the conclusion all that time it was wasted pushing me closer to getting my notice of default for what they want for their end result. Looking back now I feel scammed into our loan and out of it. I did hear when working with NACA unless you are in contact with them your file sits untouched. I also heard of one NACA success story with our lender. Since I was lead to believe they wanted to work with me and NOT foreclose please be very careful what they say on the phone for keeping their word is not a policy in the way they do business. I really do hope it works out for you. What state are you in? There are non profit places you can seek out for added help if you can't afford an attorney. Wishing you the best of results, Catherine

[selphie]

Thank you Catherine. I'm in Ohio, one of the worst hit states by this foreclosure crap.
If there was a class action suit against these idiots I'd sign right up.

[Moe Bedard]

selphie,


Welcome to the forum and thank you for joining...................



What that would mean is that National City was was just servicing your loan for your investor, which looks to be Deutsche Bank and that they did not own your loan. So Deutsche Bank would be the actual owner of the loan.


Servicing of your loan can change thruout the life of the loan as servicers go out of business or are bought by larger banks and servicing companies.

[selphie]

Thank you for the welcome.

So when Merril Lynch purchased FF and BOA purchased ML, they were never really purchasing the note itself, but the "servicing" of it?

If that's the case, what is Home Loan Services, a subsidiary servicer?

Damn, what happened to the good old days of just getting a mortagge through the small community bank and having it stay there for the life of the loan???

[Moe Bedard]

Home Loan Services is the servicing arm for First Franklin..............now BofA..........just like ASC is the servicing arm for Wells Fargo.


When you close on a loan..............the loan gets securitized and pooled and sold to investors as mortgage backed securities.................the servicer is servicing the loan for the investor...............they are who you send your payments to and deal with if there are issues regarding the loan.

[selphie]

Ok, thank you very much for the explenation. This whole experience has been a very grim education process.

Does anyone have a template or example of a pro se response to a summons?

And can anyone believe that a customer service rep from HLS told me not to bother submitting a response to the summons??? I know she works for them but what kind of advice is that to give someone who may potentially lose their home???

[Catherine]

Please forgive me Selphie if I can't recall this correctly, but I am pretty sure Deutsche Bank is being investigated big time in both Ohio and Florida for illegal foreclosures. Perhaps a letter to your Attorney General will help. I tried that route in California, but it fell on deaf ears. Also if you look up MichelleLynn on this forum she has gone round and round with these guys. Several court dates she has appeared in her battle to save her home. She may be able to give you insight as well. Good to read you question any advice HLS gives you. You are very wise for that. I missed that until it was too late. I agree if there was to be a class action lawsuit I would sign up too. With everything that has come to light about the way HLS treats people why no one has stepped in and put a stop to them in their way about getting a foreclosure almost every damn time. Sorry these guys really took me for a ride and another friend just yesterday so I have no faith in them, but can't help but worry about another trying to save their home with dealing with this company. Please be careful and know your not alone. You have one good thing going here. *** knows her stuff Her advice is right on here to help, Catherine

[selphie]

Catherine - What I don't understand is how an investor can foreclose on a property when they did not appear on my original morgage paperwork?

Also, looking through my summons, it appears they hastily filed paperwork with the county (like several days prior to serving me) to make Mortgage Electronic record Services and actually lien holder to the property. How is this legal??? In my Pro Se Response I'm calling into question the validity of the move. I just need to find out who actually owns the note - I think its BOA.

I'll look for MichelleLynn as you suggested. Thanks!

[Catherine]

Okay if I understand correctly your and my loan was sold off to the same investor. WHO has the right to foreclose is a very good question. My notice of default showed Loan Star has being the trustee to do the foreclosure, but they didn't file that with the county until a week later?? Mine has National City Bank/First Franklin/MERS/Loanstar/Some certificate series something or other and Deutshe Bank has the investor. Lot of names, but no where is BofA made mention of. Not sure if my loan was in with the BofA buyout takeover. I never could get a straight answer from Home Loan Services. We are not supposed to be giving out other websites, but keep searching for called living lies. There is a whole page of Attorney's that have replied to each other and folks trying it on their own to get the right questions asked to fight these lenders. All the best to you, Catherine

PLEASE Selphie keep in mind I am like you having never faced this before so my take on it is only an opinion that could be very wrong. The last thing I would ever want to do is steer someone the wrong way, but boy oh boy did these guys jack me around.