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SERVICER ADVANCES: The Big Modification—> Foreclosure Scam by Wells Fargo and Others — “Better be 90 days behind”

Very good blog post by Neil Garfield on mortgage services stringing homeowners along on loan modification applications.

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see http://www.occupy.com/article/how-wells-fargo-fraudulently-foreclosed-florida-homeowner

The Big Question:

How can there be a declaration of default

when the creditor is showing no default and no loss on its books?

I have been through the ringer myself, as the homeowner in the article linked above said about himself. We have a steady policy of the banks luring homeowners into default or luring them into deeper defaults. The reason is clear. They want the foreclosure — not the house and definitely not the money owed. As one BOA manager said “we are in the foreclosure business not the modification business.” The facts are always the same: the homeowner is faced with two choices based upon the information that comes from the only source he or…

View original post 2,040 more words

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