Advice from my oldest son on the eve of suing Washington Mutual and their successor JPMorgan Chase. Follow me below the fold for why it is much more than playing it safe verses being on Olbermann and I need to have it all.
There was no negotiatiion, futile. Of course their attorney will ask what it will take to make our suit go away and our regular attorney will laugh at her. Remember how I said the more we look the more we find? We finally got copies of the original loan papers. And looky, looky. It seems our loan interest was based on a 6.5% above the 6 month Liber average and oh my did they get it wrong! The Government allows for an eighth of a percent error to be in compliance, Long Beach Title managed to make a whopping 3% error! That is a fast $21,000 they got thru that little mistake.
Then the prepayment penalty, the usual 2-5 year used for most ARM loans, not Long Beach Title, nope the penalty is enforce for the entire 30 year term of the loan. Yep, I’m thinking the same thing, did my kid read ANY of this? In defense I hear from other attorneys who deal with these things, that mortgage brokers just keeping pushing papers in front of you to sign and don’t do a very good job of explaining what you are signing. So this means if I sold the house to get oout from under the problems with the mortgage, or refinanced thru someone else I would have had to pay them nearly $4,000 in addition to everything else. The longer the prepayment period the more the lender can get when they resell the mortgage and the more the broker gets. The papers from our loan are boiler plate, no reason to believe the bulk of Long Beach Title’s loans aren’t just like ours, mistakes and all.
And we find they really did jack the amount of the note up by several thousand when they put their claim into the Bankruptcy Court, this is a Federal offense with penalties including jail time. In addition they charged us another $1800 in foreclosure fees at the same time and we weren’t in foreclosure, another Federal offense with time.
I notice today on the news JPMorgan Chase and Citigroup are extending their moratorium on foreclosures into March. They are liars. I would be willing to bet there are hundreds if not thousands of homes setting under the protection of Chapter 13 they and their agents are trying to chip out and grab. I bet there are thousands more home owners who are getting in trouble right now thru the creative bookkeeping of these lenders. And what about all those mortgages they have restructured, why can’t they provide evidence, not just their word they have been doing anything constructive to help anyone but themselves. They can’t because they haven’t.
When we went into visit our attorney yesterday with the latest demand for money I had two attorneys waiting in the wings. My attorney had a better idea, a much better idea. Because of our case and the egregious flagrant in your face fuck you violation of the law, he has joined a nation wide legal team to fight these lenders. It is headed up O.Max Gardner. in our dreams we never thought we could get a law firm associated with Gardner.
Our files went to California today to be mined for violations, they will go thru everything having to do with our loan not just the bankruptcy. It is everyone’s hope they will find the case as juicy as we do and jump at the chance to litigate it. If it all works out, they will run the case and our representative in Court will be a recently retired US Attorney.
It is important to me we not settle and shut up, that something constructive comes of it for the others stuck in the same ugly place we are. And too, I want the government to wise the fuck up and see these people for what they are, stop giving them money and just seize the banks. If I could break them with the help of a good lawyer and a good judge so much the better. I just want them exposed, daylight is the best cure for their disease. My son on the other hand wants me to take care of us first and forget about everything else because after all my ass is on fire.
Ass on fire or not, I am hoping the next time I post it will be good news and we will “fire up the Quattro.”