something is fishy

[Anne036]

We got out our refin loan docs from November 2006 it clearly states our ARM will be due to adjust on December 2009 (says in bold letters). Our loan was sold from NLC financial to Ocwen to Citi Mortgage (Citi Financial). Now we tried to refi into a fixed with Citi and they declined us because of our home value was way down; however they told us that our loan was due to resest December 2008 ( which is only month's away). We called Citi and they reconfirmed that this is what they have and there is nothing they can do. But wait! Our original loan docs that we signed says Dec 2009!! We ask for a copy of the loan docs and they are to be mailing them by the 27th. Does this sound right? Anyone have this happen before? We live in Missouri. Thanks for your time

[Moe Bedard]

There can be just some confusion here or they may have not properly disclosed the mortgage to you and this in itself can be a violation of the Truth in Lending Act. The key is not really what you signed, but your copy should (per the law) also have the proper figures.

[Anne036]

Thanks Moe. We will compare the two once the docs from Citi arrive. If they don't where would we go from here? Thanks again.

[Anne036]

Sorry! I meant if they don't state the same terms where do we go from here.

[Moe Bedard]

No prob Citi should have all this paperwork since they purchased the servicing rights to it. If they don't, this can cause Citi big problems. The escrow comepany/title co. or attorney may have copies if Citi does not.

[Anne036]

Thanks again Moe. We don't even know who the title company/attorney was/is. We never received a copy of our appraisal or anything. I have decided to sent a certified letter for a formal request of our loan documents form Citi Mortgage. I want to trust they will send them from our phone conversation but I just want to make sure our request doesn't get "lost".

I have been so upset I just don't know what to do. I really believe we were victims of predatory lending but how to prove? I guess starting with comparing the documents is a start? I have also decided we will hire an attorney to review all the documents once we get them. I think that would be a start. Thanks again. I cannot express my gratitude enough!

[unclmikl]

Dont just hire any atty
you would not go se a podiatrist if your chest hurt.find someone who specializes in forensic loan examinations in real estate such as mr Paiva
unclmikl

[Moe Bedard]

Good advice unclmikl and this is a start in the right direction. You are welcome for the advice Anne and we will be here till the end with you. Please keep us abreast on your progress.

[Anne036]

Thanks again Unc & Moe. You are correct after reading on this forum I want to make sure they are reviewed by someone that knows their stuff so we will use the firm you suggested. I am sending the certified request for copies of all of our documents today. I am wondering how long it will take to get them. Now I'm worried what if they don't send them? What is the time frame usually? I will definately keep you posted. Thanks again. This forum is a life saver! Have a great day!

Anne

[Dan Bailey]

Anne...I believe they have 20 days to acknowledge reciept of the request, then 60 days to respond.

[Moe Bedard]

Dan is right on!

[Anne036]

Dan & Moe thanks again! So once that receipt is signed it can take up to 60 business days? Sorry I'm asking so many questions but I'm telling you all this talk about your mortgage company really want's to work with you..well I think it's a myth. In reality they just want you to make a mistake so they can capitalize and take your house and blame you. I just want to make sure all my steps are covered. I can't wait to have them reviewed I am positive there is something not right. I will keep you posted. I cannot thank all of you enough. If it were not for this forum...well I don't even want to think about it!

Anne

[backlso]

Hello,
Sorry for chiming in on your thread. But I am in a similar situation. I did hire a RE attorney that turned out to be a flake, does not return phonecalls, has not filed or done anything in 5 months now. I am getting frustrated and desperate. Who is mr Paiva?
Thanks & Good Luck to you.

Sofia

[Dan Bailey]

Sofia,
Paiva and associates are great to deal with. They have alot of experience in these exact situations we are in...not just RE. They do back people all over the country, not just California. There are links to their offices at the top of the forum. Good luck and dont lose hope!

[Anne036]

Back,

I do not mind you chiming in. If anyone is in a same position or close I welcome all advice, tips. I've been rather down today as all these conflicting feelings. Should I spend the money to have my docs reviewed? I have read some stories that it didn't matter that there was fraud they still lost their house. I really hate not knowing it's the most terrible feeling in the world. I mean say Citi does send me the copies I requested (I have also read someone did request by certified mail and they did not respond) and I have them reviewed and they dislose fraud does this mean they HAVE to modify the loan? I mean what power do we have against these mortgage giants? And what happens if they don't respond? What do you do then?
Back, let me know how your process goes. I hope you stand strong. I'm trying but it's just one of those days. Good luck and keep us posted.

[backlso]

Hello,
I have tried to get my mortgage either canceled or modified due to fradulent business by my mortgage broker. I have sent several letters to the bank, including letters from my lawyers office, on his letter head, did not help. I recieved one respond saying that they are doing nothing and they are not responsible for the mortgagebrokers actions...BUT I also filed a complanit with the state and the guy who called me from the state said that that is NOT true, it is their responsibility. He said most of the violations are under federal law so he couldnt do anything about that so he adviced me to file federally.....
I get really tierd and confused by all this. It seems to me too that the banks and brokera are so protected behind my signature on the docs so even if they told me different that does NOT matter, so they can lie and cheat all day and not been held responsible for anything . AND we loose our houses and we are the ones suffering. It is notfair. I wish someone could tell me ONE place where I can file. I have tried to hire a lawyer, he did nothing for 4 months and I still had to pay, now I cannot afford to hire another one but have to do it all by my selt. And it is a jungle to tackle out there with all the laws and so on.
Hope you are doing better and I will keep researching and will let you and the forum know if I find the cure.

Sofia

[Moe Bedard]

Originally Posted by Anne036

Dan & Moe thanks again! So once that receipt is signed it can take up to 60 business days? Sorry I'm asking so many questions but I'm telling you all this talk about your mortgage company really want's to work with you..well I think it's a myth. In reality they just want you to make a mistake so they can capitalize and take your house and blame you. I just want to make sure all my steps are covered. I can't wait to have them reviewed I am positive there is something not right. I will keep you posted. I cannot thank all of you enough. If it were not for this forum...well I don't even want to think about it!

Anne

Our pleasure Anne

Yes the law states they have 60 days to resolve or tell you why they cant resolve the issues stated in your QWR. And your right on these servicers, that is exactly what they do.

http://www.loansafe.org/index.php?pid=24

The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute, first passed in 1974. RESPA covers loans secured with a mortgage placed on a one-to-four family residential property. These include most purchase loans, assumptions, refinances, property improvement loans, and equity lines of credit. HUD's Office of RESPA and Interstate Land Sales is responsible for enforcing RESPA.

Loan servicing complaints

Section 6 provides borrowers with important consumer protections relating to the servicing of their loans. Under Section 6 of RESPA, borrowers who have a problem with the servicing of their loan (including escrow account questions), should contact their loan servicer in writing, outlining the nature of their complaint. The servicer must acknowledge the complaint in writing within 20 business days of receipt of the complaint. Within 60 business days the servicer must resolve the complaint by correcting the account or giving a statement of the reasons for its position. Until the complaint is resolved, borrowers should continue to make the servicer's required payment.

A borrower may bring a private law suit, or a group of borrowers may bring a class action suit, within three years, against a servicer who fails to comply with Section 6's provisions. Borrowers may obtain actual damages, as well as additional damages if there is a pattern of noncompliance.

The following is a sample qualified written request from you, the borrower