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The disappearing homes with huge mortgage's and seconds

Old 11-03-2007, 04:37 PM
  #1  
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Default The disappearing homes with huge mortgage's and seconds

I have uncovered some things that I found amusing and thought you guys would get a laugh out of it. This is what you get when greed and an unregulated industry are able to just send documents through the mail and receive a rather large check in return. I haven't figured out exactly how they did it, but it did get done.

In my browsing of foreclosure homes and Bank Owned properties (new homes) I have found that some (a few) do not exist at all. It seems that the scammers would add an extra address number to the last address number of a subdivision. Like the last home would be 640 somerset lane, but the foreclosure address would be 650. All the amounts foreclosed on would be 40 to 50k more than what the highest priced home in the subdivision sold for. I haven't figured it out yet, but all the disappearing homes are being handled through one REO firm out in california that only advertises on-line.

I think it might be (I said "might be") a cover up by one of the major banks. What would wall street do to them if they said they had been had by a couple of billions. I can't help but think that if it happened in my little corner of the world that it might be a HUGE, and I mean HUGE scam. I'm gonna spend a little time and try to find out if the ones around here were from one lender. I don't think any bank stock would be good to own right now, even if they bundled and sold the ghost loans, they will pay dearly for their screw ups, even though it took a well organized group to pull it off. It did seem sort of funny to me that all the mortgage brokers that went bankrupt immediately upon wall street's recognition of the housing mess. "MESS" is an appropriate word. They won't be able to keep the lid on this very much longer, and just remember you heard it hear first.
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Old 11-03-2007, 05:03 PM
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Default Re: The disappearing homes with huge mortgage's and seconds

Let me guess, Freemont, ABM-AMRO, ........ Remember, we live in GA, #1 state for mortgage fraud. Fulton (30310) and Dekalb Counties lead the nation!
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Old 11-04-2007, 03:53 AM
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Default Re: The disappearing homes with huge mortgage's and seconds

Reel Boobs - 11/3/2007 5:03 PM

Let me guess, Freemont, ABM-AMRO, ........ Remember, we live in GA, #1 state for mortgage fraud. Fulton (30310) and Dekalb Counties lead the nation!
It's great to be #1 at something.
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Old 11-04-2007, 03:55 AM
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Default RE: The disappearing homes with huge mortgage's and seconds

#1 murder rate for us
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Old 11-04-2007, 03:59 AM
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Government corruption here
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Old 11-04-2007, 04:10 AM
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#1 safest town in America here....
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Old 11-04-2007, 04:26 AM
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Best Pizza!
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Old 11-04-2007, 04:27 AM
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Default Re: The disappearing homes with huge mortgage's and seconds

I've encountered that clearinghouse for REO's and foreclosures..strange, isolated website, very unfriendly. Not really sure who runs it, but it does seem unusual. And don't forget Florida..we INVENTED the land scam....
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Old 11-04-2007, 06:23 AM
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Default RE: The disappearing homes with huge mortgage's and seconds

I got yer #1 right here .... http://www.usatoday.com/news/nation/...-to-live_x.htm

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Old 11-04-2007, 06:45 AM
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Default RE: The disappearing homes with huge mortgage's and seconds

WEAKFISH - 11/4/2007 6:23 AM

I got yer #1 right here .... http://www.usatoday.com/news/nation/...-to-live_x.htm

Except for the crappy weather, NJ income taxes, the people with funny sounding accents, the horrible NJ road system, the crooked state gov't ....... it sounds like a wonderful place to stop living.
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Old 11-04-2007, 07:11 AM
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Yeah..but our gas is cheap
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Old 11-04-2007, 03:11 PM
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Default Re: The disappearing homes with huge mortgage's and seconds

http://www.cnbc.com/id/21601044

Due to subprime losses, not to being dupped.
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Old 11-04-2007, 04:13 PM
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Default RE: The disappearing homes with huge mortgage's and seconds

Tireless - 11/4/2007 10:45 PM

WEAKFISH - 11/4/2007 6:23 AM

I got yer #1 right here .... http://www.usatoday.com/news/nation/...-to-live_x.htm

Except for the crappy weather, NJ income taxes, the people with funny sounding accents, the horrible NJ road system, the crooked state gov't ....... it sounds like a wonderful place to stop living.
You can add to that list of NJ shortcoming the undisputed leader in judicial corruption.


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Old 11-04-2007, 04:19 PM
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Default RE: The disappearing homes with huge mortgage's and seconds

Bugbuster - 11/3/2007 7:37 PM

I have uncovered some things that I found amusing and thought you guys would get a laugh out of it. This is what you get when greed and an unregulated industry are able to just send documents through the mail and receive a rather large check in return. I haven't figured out exactly how they did it, but it did get done.

In my browsing of foreclosure homes and Bank Owned properties (new homes) I have found that some (a few) do not exist at all. It seems that the scammers would add an extra address number to the last address number of a subdivision. Like the last home would be 640 somerset lane, but the foreclosure address would be 650. All the amounts foreclosed on would be 40 to 50k more than what the highest priced home in the subdivision sold for. I haven't figured it out yet, but all the disappearing homes are being handled through one REO firm out in california that only advertises on-line.

I think it might be (I said "might be") a cover up by one of the major banks. What would wall street do to them if they said they had been had by a couple of billions. I can't help but think that if it happened in my little corner of the world that it might be a HUGE, and I mean HUGE scam. I'm gonna spend a little time and try to find out if the ones around here were from one lender. I don't think any bank stock would be good to own right now, even if they bundled and sold the ghost loans, they will pay dearly for their screw ups, even though it took a well organized group to pull it off. It did seem sort of funny to me that all the mortgage brokers that went bankrupt immediately upon wall street's recognition of the housing mess. "MESS" is an appropriate word. They won't be able to keep the lid on this very much longer, and just remember you heard it hear first.
What does the legal description say?

Never saw a mortgage without a legal description.
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Old 11-04-2007, 04:30 PM
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Default Re: The disappearing homes with huge mortgage's and seconds

Don't have any docs on homes, just listings. Confirmed addresses with REO, which does not exist. The rest is their problem, but I'm gonna try to find out a little more by phone next week. I'll let you know.
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Old 11-05-2007, 09:19 AM
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Default RE: The disappearing homes with huge mortgage's and seconds

Tireless - 11/4/2007 6:45 AM
WEAKFISH - 11/4/2007 6:23 AM I got yer #1 right here .... http://www.usatoday.com/news/nation/...-to-live_x.htm
Except for the crappy weather, NJ income taxes, the people with funny sounding accents, the horrible NJ road system, the crooked state gov't ....... it sounds like a wonderful place to stop living.


It's too close to Camden which looks like a demilitarized zone & is likely to be near the top of the 'worst places to live' list.......
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Old 11-05-2007, 09:21 AM
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Default RE: The disappearing homes with huge mortgage's and seconds

Tireless - 11/4/2007 6:45 AM
WEAKFISH - 11/4/2007 6:23 AM I got yer #1 right here .... http://www.usatoday.com/news/nation/...-to-live_x.htm
Except for the crappy weather, NJ income taxes, the people with funny sounding accents, the horrible NJ road system, the crooked state gov't ....... it sounds like a wonderful place to stop living.
Sucky server......
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Old 11-13-2007, 04:49 PM
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Default RE: The disappearing homes with huge mortgage's and seconds

Another mortgage scam:

http://www.reuters.com/article/newsO...3?pageNumber=3

Gee. I can't believe it. A scam in South Florida. Who would have thought it could happen there
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