bank claims they did not foreclose

[paradise105pw]

What is the name of your state? ma

american home was the original mortgage co. gmac became servicer in may but i sent the payment to american.
june 12 gmac sent a letter of notice to foreclose because the may and june payments were not recieved.
because of a last minute (at passing) rate hike i decided to re-fi w/another bank.
on aug 8, 2006 gmac had soldier and sailor signed by Judge.
on aug,16, 2006 gmac SOLD loan to ncc.
on oct. 10 2006 gmac auctioned the house.

gmac claims they could not have done it because they did not have the loan. ncc claims they did not do it and american home claims they did not do it.

it appears that gmac forgot to notify the attorney that they sold the loan and the auction went forward.

what do i do? i can't afford a lawyer

[lcannister]

Too many things in your post do not make sense, let's start with this

because of a last minute (at passing) rate hike i decided to re-fi w/another bank.

Not possible, the terms remain the same regardless of who buys the loan, unless you had an adjustable rate to begin with and then this should have been anticipated.

i decided to re-fi w/another bank.

So did you?

Did you continue to make payments to someone?

Why are you just now concerned?

The house was auctioned back in Oct. 2006 are you still living there?

I think you are going to have to have an Atty to straighten all this out, too many companies involved etc. Find a legal aide office in or near your area for reduced or no fee assistance.

[paradise105pw]

hi

at the passing, the BANKS attorney stopped and said we were getting screwed. He had the day befores package and that days package and the e-mails sent to him from the bank trying to explain the change which he replied to them was bull. attorney told me to have my attorney contact him about unfair and deceptive practices.

i was refinancing w/middlesex mort. who was talking w/gmac to make sure there was not any foreclosures schedculed. he told me not to make a payment the bank will collect it at passing.

middlesex, 7 offices, were closed by the feds end of sept. and the broker never told me.

what a stream of luck huh?

i have been on the phone since october. gmac told me to fax them copies of the notices and advertisements in their name and i did. now they don't seem to want to talk to me anymore.

[FlyingRon]

You were obligated to make all payments until the new loan is closed. No honest person would tell you otherwise and they certainly wouldn't tell you to not make payments for several months. You seem to not have made any payments since March of last year. Are you still in the house? Boy the new owners must be really annoyed.

You can find out who actually foreclosed by looking at the recorded information at the courthouse or whevever land records are kept in your jurisdiction. That's the place to start.

[paradise105pw]

thanks for the response.
the broker that told us to hold off with the payments was with middlesex mortgage, 7 offices which were closed by the feds. i am told that he has been inditated.
i am 1 of 20 of his "friends" that he "got". we hope he rots. he also bought two houses that he was re-financing--- at the auctions.
gmac was thre present mortgage holder and advertised as present mortgage holder through all of the auction process even though ncc bought the loan aug. 16. ncc had me evicted june 2007 even though american home has owned it since nov. 2006.
i shall check the registry thank you.
should be interesting since none of these banks admit foreclosing especially gmac because they didn't own it.
i have the notice of foreclosure and sale from gmac dated Sept 6 2006 (after they sold it)
from their attorney, but also have a letter from ncc telling me to call to work out payments dated aug. 25 2006, and the auction was oct. 10!
looks like gmac did not tell harmon they sold the loan!! does't it?

[paradise105pw]

ncc is on record for the foreclosure. ncc did not even record the purchase of the property (aug. 16, 2006) until jan. 14,2007 while also recording their sale to american home in november 2006.

if only i could get 10 minutes of time from a judge!

also, this foreclosure is not on the credit report! because the bank (gmac) doesn't realize they did it.

every document, notice and advertisement is together, and i don't have a stinking retainer!

i can't figure out why the foreclosing attorney, at the auction announced ncc as the holder of mortgage when all of their own work read gmac and the auctioneer told us the bank bought it back (ncc)

i can't believe this! i wonder when the bank or attorney found the error?

ncc still claims no auction and has closed the file since they no longer service it and won't discuss it with us

[FlyingRon]

Originally Posted by paradise105pw

ncc is on record for the foreclosure. ncc did not even record the purchase of the property (aug. 16, 2006) until jan. 14,2007 while also recording their sale to american home in november 2006.

Sounds legitimate. NCC owned the mortgage, they foreclosed, they purchased (due to no other bidders wanting to cover their loss) and then they sold the REO.

if only i could get 10 minutes of time from a judge!

And what would you get? You admit you did not make the payments. As near as I can see you've been living rent free in the foreclosed house for over a year now.

also, this foreclosure is not on the credit report! because the bank (gmac) doesn't realize they did it.

Whether things show up on a credit report have no bearing on the matter.

i can't figure out why the foreclosing attorney, at the auction announced ncc as the holder of mortgage when all of their own work read gmac and the auctioneer told us the bank bought it back (ncc)

Because NCC apparently still owned the note. Servicing (processing payments, etc...) is not the same as owning the debt. GMAC provides both services (mortgage origination and servicing).

ncc still claims no auction and has closed the file since they no longer service it and won't discuss it with us

Why should they care? What's surprising is the current owner of your property has done nothing to remove you as a squatter.

[HomeGuru]

Free rent is good.

[paradise105pw]

hey guys!

we don't live there! haven't lived there for manies!

ncc still insists they did not foreclose and auction oct. 10 2006 althouyh ALL paperwork and advertising named gmac (as present mortgage holder) whom sold it to ncc aug. 16, 2006 whom sold to american home nov. 2006 whom filed bankcruptcy just last month or so!
the credit report interests me because it supports my theory of gmac failing to notify the foreclosing attorney to stop on behalf of gmac because they were paid in full and released the property to ncc. gmac bought the mortgage from american home april 2006, w/a current loan. i incorrectly sent the may payment to american home whom apparently did not forward to gmac whom therefor sent the notice of default. good gggrrrief!!!
i have been told that the mortgage broker from middlesex mort. (that told me it would be okay to pay back payments at closing from proceeds) has been indited, along w/a few other unlicensed brokers from the co. and 7 offices of theirs have been closed for a hole bunch of stuff. doesn't help me right now. i think i'll put in an offer to the bankruptcy judge for the property and maybe it get lucky!

thanks! do the pieces seem to fall into place?

[FlyingRon]

Originally Posted by paradise105pw

. i incorrectly sent the may payment to american home whom apparently did not forward to gmac whom therefor sent the notice of default. good gggrrrief!!!

So you admit not making the payment (to the right person).
You admit getting the proper notice of default.

i have been told that the mortgage broker from middlesex mort. (that told me it would be okay to pay back payments at closing from proceeds)

If he indeed told you that, he's pathetically stupid.

It sounds like you indeed stopped making payments, and ignored the notice of the foreclosure and the foreclosure proceeding itself. The confusion in your mind over who was managing your mortgage doesn't change the fact that you were not making payments on the mortgage in any fashion and ignored the foreclosure procedings.

Your only option now is to obtain a lawyer and exercise the right of redemption (if indeed you have the money to make things right).

[HomeGuru]

And if there is a RR.

[FlyingRon]

3 years in MA it seems.

[paradise105pw]

none in mass.

i spoke to a retired auditor from a different bank, but! after reviewing the paperwork, she feels the auction was INVALID! gmac, who advertised after the sale and RELEASE of the mortgage, could not auction a property they did not own. the auditor suggested i ask why ncc did not record the purchase of aug 16, 2006 until january 2007, especially when ncc sold the reo back to the original lender american home in november 2006.
i'm told there will be a lot of "interesting discoveries" along the way. the recomendation is to buy the house back through ahm comapanies bankruptcy court for a lot less than the $400k that was on it (to secure the house and then file a suit.
none of the banks claim they foreclosed or auctioned. ncc is on record but also claim not doing it. that must be why it is not going on the credit report. whoever did do it has explaining to do!
i didi not ignore the foreclosure notices from gmac. everytime we called to let them know i was refinancing, we asked if there was a pre or foreclosure and they said no! i should have expanded and told us they sold and released the loan aug. 16!

but they still want a retainer!
i'm going to ntry Barney Frank, he's involved in the mortgage crisis

thanks,
p

[FlyingRon]

Was there a recorded release of the lien? If not what makes you think that the mortgage was sold and the foreclosure invalid? Servicing the payments is as I said NOT the same as owning the debt. What evidence do you have that the mortgage was ever sold?

The credit report is NOT proof of squat.

Even if you do prove that it was sold, what is it going to accomplish for you in the long run? You agree you were in default and it would appear you probably don't have the means to resolve that,. What outcome are you expecting? The mortgage fairy isn't going to come down and say "bad mortgage servicer, you screwed up...paradise gets the house for free."

[seniorjudge]

paradise, before you do anything further, get a title report on the land from a title company.