- Report: #4733
Complaint Review: Fannie Mae & Freddie Mac - Nationwide
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Fannie Mae & Freddie Mac
Nationwide, U.S.A.
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Fannie Mae & Freddie Mac Intentionally Deceived Consumers??? ...What they don't want you to know! .. *CONSUMER TIPS .. & how to pay off that mortgage
*0: YOUR RIGHT TO PREPAY ON A CONVENTIONAL LOAN IS STILL THERE
*Consumer Suggestion: Fannie Mae getting their just desserts
*Consumer Comment: NATIONWIDE ALERT- 'FANNIE POEM' & 'FREDDIE POEM' are...
*Consumer Comment: And The Beat Goes ON ******* And On And On*****
*Consumer Comment: Freddie Mac paid Newt Gingrich millions: Obama,Hud : Why can't We the voters,aka as the 99% get some help???
*Consumer Comment: Government sponsored loan needed: For victims of Predatory Lending and Foreclosure scams: Reason being,'WE don't want to lose our homes"!!
*Consumer Comment: Newt Gingrich Mitt Romney own stock in Freddie Mac "Just gets worse and worse for the 99%
*Consumer Comment: Help needed to save homes involved in Scam :Equity stripped,Investors (straw buyers filed Bankruptcy)
*REBUTTAL Owner of company: 4:48 AM I can't Sleep: I bet all the Straw buyers aks as investors are sleeping and Ocwen aand Freddie just want our homes!!!!!
*Consumer Comment: Broker needed to help foreclosure victim who was scammed:equity stripped,house flipped ,Investor filed Bankruptcy
*Consumer Comment: Hello!!! Help is still needed for many who have been scammed by DeMarco,Rei
Fannie Mae & Freddie Mac Intentionally Deceived Consumers??? ...What they don't want you to know! .. *CONSUMER TIPS .. & how to pay off that mortgage
FANNIE MAE & FREDDIE MAC WILL COST HOME OWNERS OVER A BILLION DOLLARS IF ACTION IS NOT TAKEN IMMEDIATLY!
On January 1st 2001 the secondary market ( Fannie Mae and Freddie Mac) removed your right of prepayment on a home mortgage.
(THE FOLLOWING WAS REMOVED)
"The note holder will use (all of) my prepayments to reduce the amount of principal that I owe under this note. 1"
WHAT DOES THIS MEAN TO THE AVERAGE CONSUMER?
That they will be required to make "all monthly payments due under the Note 2" before they can reduce the principle.
IN LAYMEN'S TERMS
It means that you can not prepay a mortgage or reduce the amount of interest that you will pay on your mortgage loan. This will cost a homeowner thousands of dollars.
FANNIE MAE AND FREDDIE MAC LOOKED OUT FOR WHO!
Their stock investors at the expense of "American home buyers". This is apparent by looking at the new note language as of January 1st 2001 compared to the prior note language.
AFTER READING THE INFORMATION BELOW
For more information, you may contact
John S. Combs, Sr.
(815) 397-2100
[email protected] ....keep reading first.
1) Multistate Fixed Rate Note - Form 3200 12/83 (updated 9/91)
2) Multistate Fixed Rate Note - Form 3200 1/01
FANNIE MAE AND FREDDIE MAC RIP OFF CONSUMERS???
Historically homeowners have had the right to prepay their mortgages and only pay interest on the money that they owe from time to time. Changes made in the Multistate Fixed Rate Note (3200) as of January 2001 appear to have take away this right.
The note that originated in 12/83 and was modified in 9/91 has changed. The first change is in section 3 of the note titled "Payments". Originally the note said "My monthly payments will be applied to interest before principal." This has been changed to "Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal."
The second change is in section 4 of the note titled "Borrower's Right To Prepay". The changes are as follows;
1/01 I may not designate a payment as a Prepayment if I have not made all the monthly payments due under the Note. (Added to end of first paragraph)
12/83 The note holder will use all of my prepayments to reduce the amount of principal that I owe under this note. (“all of” Deleted from second paragraph)
1/01 However, the Note Holder may apply my Prepayment to the accrued and unpaid interest on the prepayment amount, before applying my Prepayment to reduce the Principal amount of the Note. (Added after second Sentence in second paragraph).
WHY DID FANNIE MAE AND FREDDIE MAC CHANGE THE LANGUAGE OF THE NOTE SO DRASTICALLY THAT HAS NOT CHANGED SINCE BEFORE DECEMBER OF 1983?
Because of one individual that was trying to help the consumers save interest charges with a few simple changes in how they paid their mortgage. Because of something called the ‘Mortgage Maximizer' that was presented to Fannie Mae in February of 2000 by John Combs.
CAN THIS BE PROVED?
It can be proved that the ‘Mortgage Maximizer' was presented to Liz Ryan, Senior Affordable Housing Business Manger of Fannie Mae at the Chicago Association of Realtors. The ‘Mortgage Maximizer' information system was shown to Liz on that date and she took the video program to show to others at Fannie Mae.
Since Fannie Mae said (www.fanniemae.com/savings/index.html) it is all about saving money for America's home buyers Mr. Combs thought that this would be a great program to help consumers and showed it willingly to Fannie Mae. Mr. Combs was eager to get this out to the public and called several times after the initial showing of the program to Fannie Mae but no calls where returned.
It can be shown that before the ‘Mortgage Maximizer' was presented to Fannie Mae consumers could prepay and the note holder would be required to use all of the prepayments to reduce the amount of principal that the borrower owed under the note. (see Deleted line from 2nd paragraph of 3200 note 12/83).
If done correctly under the old note (3200 - 12/83) borrowers had the ability to use the lenders payment (amortization) schedule to track, audit and prepay a mortgage to eliminate scheduled interest payments saving thousands of dollars over the course of the mortgage.
With the removal of ‘All of’ from "The note holder will use all of my prepayments to reduce the amount of principal that I owe under this note" only one conclusion can be drawn, that Fannie Mae and Freddie Mac do not want consumers to prepay a mortgage and save interest. Considering that this happened after the presentation of the ‘Mortgage Maximizer' from John Combs it is a logical conclusion.
WHO IS AWARE OF THE NOTE CHANGE THAT OCCURRED JANUARY OF 2001?
John Combs has talked with title people, attorneys, accountants, lenders and real estate professionals and to date none of them where aware of the changes. This puts many of them at risk for giving out incorrect information in regards to prepaying a home mortgage.
WHO SHOULD BE AWARE OF THE "MORTGAGE MAXIMIZER" AND THE CHANGES TO THE MULTISTATE FIXED RATE NOTE?
Bankers or lenders, title people, attorneys, accountants, real estate professionals and everyone who has a mortgage, plans to have a mortgage or is planning on refinancing a mortgage.
Bankers or lenders may not care about the changes to the note, but should be aware of it.
Title people, attorneys, accountants, real estate professionals and others that advice consumers in real estate transactions need to know the changes so that they don't give misinformation to consumers.
Consumers need to be aware that if they plan to refinance that they will lose their rights to prepay their mortgage and the ability to save interests and private mortgage expense. (PMI), based on the new mortgage language.
IS THE NEW LANGUAGE ON THE NOTE CLEAR?
No! Due to the confusing language of the Multistate Fixed Rate Note released January 2001 many lenders, Realtors and lawyers have different opinions. Only when comparing notes to each other does it become obvious that the intent of the changes where to stop borrowers from being able to prepay to skip and thus save scheduled interest payments. This is especially apparent after viewing the ‘Mortgage Maximizer'.
WHAT IS THE INTENT OF FANNIE MAE AND FREDDIE MAC IN CHANGING THEIR NOTE LANGUAGE?
John Combs can not to date get Fannie Mae to clarify the intent of the language. It is apparent to John that the new note language takes away the right to borrowers to save interest expense by prepaying and that the changes to the note were a direct result of him showing his ‘Mortgage Maximizer' to Fannie Mae. If that is not their intent then they need to clarify the new note language that can be interpreted as not taking away the borrowers right to prepay to avoid interest expense on the prepayment amount.
WHAT IS THE "Mortgage Maximizer"?
It is a learn for life do it yourself mortgage tracking and prepayment system that allows borrowers to properly prepay their mortgage systematically, on a payment to payment basis, as they can afford to and within their monthly budget. Provided on a 30 minute VHS tape, it takes you through all the required steps to properly prepay your debt to eliminate paying scheduled interest payments and reducing required Private Mortgage Insurance payments. This is possible by properly utilization the lenders payment (amortization) schedule. Included is how to adapt the Lenders payment schedule for your use, provides you the required written notice of a prepayment as required by your note and much more. Conceived in 1992 the ‘Mortgage Maximizer' resulted in the creation of a not for profit organization in 1999 called the "Consumer Debt Reduction Institute". John Combs is the founder and president.
The Consumer Debt Reduction Institute is an organization that was formed to be a resource and advocacy organization for consumers throughout the Continental United States with regards to consumer debt. It's purpose will be to research, provide programs, partner with others and provide education to all consumers on how best to deal with consumer debt from the consumer's prospective.
WHAT YOU CAN DO TO HELP YOURSELF
1. Contact your State and Federal Congressman and Senators and request that they protect your right to prepay a home mortgage to save interest charges. Let them know of the changes to the Multistate Fixed Rate Note that remove the note holders requirement to use all of your prepayments to reduce the amount of principal that you owe under the note.
2. Call, write, send e-mail, go see anyone who you think might be able to get this change to the Multistate Fixed Rate Note changed back to the way that it was and give us our right to prepay back.
3. Don't be silent, let everyone you know what is happening and ask them speak out for our rights and those of our children.
4. Let me know what is going on in your community. If you know anyone that you feel may listen and help the Consumer Debt Reduction Institute to get the facts out - Contact us!
5. Get and use the mortgage payment system called the "Mortgage Maximizer" and use it to force lenders to treat you fairly when it comes to controlling your amortized mortgage debt. Questions on the ‘Mortgage Maximizer' can be answered by visiting our web page at http://www.stopinterest.com.
6. Financially support the Consumer Debt Reduction Institute so we can work full time to help and support borrowers rights against those that want to take them away. A donation of $5 to $10 or more from each of you can allow us to afford to be your eyes, ears and voice in regards to this important issue. Our address is Consumer Debt Reduction Institute 4315 East State Street Rockford, IL 61108
FANNIE MAE & FREDDIE MAC Note LANGUAGE CONVENTIONAL LOANS TAKEN FROM THE ORIGINAL NOTE.
MULTISTATE FIXED RATE NOTE - Single Family - FNMAFHLMC UNIFORM INSTRUMENT Form -- 3200 12/83 -- 9/91
3. PAYMENTS
(A) Time and Place of Payments
I will pay principal and interest by making payments every month.
I will make my monthly payments on the ___ day of each month beginning on ___________ .
I will make these payments every month until I have paid all of the principal and interest and any other charges described below that I may owe under this Note.
My monthly payments will be applied to interest before principal. If, on _________ , I still owe amounts under this Note, I will pay those amounts in full on that date, which is called the "maturity date" I will make my monthly payment at ____________ or at a different place if required by the Note Holder.
(B) Amount of Monthly Payments My monthly payment will be in the amount of U.S. $ ________
4. BORROWER'S RIGHT TO PREPAY
I have the right to make payments of principal at any time before they are due. A payment of principal only is known as a "Prepayment". When I make a prepayment, I will tell the note holder in writing that I am doing so.
I may make a full Prepayment or partial Prepayments without paying any Prepayment charge. The note holder will use all of my prepayments to reduce the amount of principal that I owe under this note. If I make a partial prepayment, there will be no changes in the due date or in the amount of my monthly payment, unless the Note Holder agrees in writing to those changes.
::::::::New as of January 1, 2001
MULTISTATE FIXED RATE NOTE - Single Family - FNMAFHLMC UNIFORM INSTRUMENT Form -- 3200 1/01
3. PAYMENTS
A) Time and Place of Payments
I will pay principal and interest by making payments every month.
I will make my monthly payments on the ___ day of each month beginning on ___________ . I will make these payments every month until I have paid all of the principal and interest and any other charges described below that I may owe under this Note. Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal. If, on _________ , I still owe amounts under this Note, I will pay those amounts in full on that date, which is called the "maturity date" I will make my monthly payment at ____________ or at a different place if required by the Note Holder.
(B) Amount of Monthly Payments
My monthly payment will be in the amount of U.S. $ ________
4. BORROWER'S RIGHT TO PREPAY
I have the right to make payments of principal at any time before they are due. A payment of principal only is known as a "Prepayment". When I make a prepayment, I will tell the note holder in writing that I am doing so. I may not designate a payment as a Prepayment if I have not made all the monthly payments due under the Note.
I may make a full Prepayment or partial Prepayments without paying any Prepayment charge. The note holder will use my prepayments to reduce the amount of principal that I owe under this note. However, the Note Holder may apply my Prepayment to the accrued and unpaid interest on the prepayment amount, before applying my Prepayment to reduce the Principal amount of the Note. If I make a partial prepayment, there will be no changes in the due date or in the amount of my monthly payment, unless the Note Holder agrees in writing to those changes.
For more information, you may contact
John S. Combs, Sr.
(815) 397-2100
[email protected]
FANNIE MAE & FREDDIE MAC WILL COST HOME OWNERS OVER A BILLION DOLLARS IF ACTION IS NOT TAKEN IMMEDIATLY!
On January 1st 2001 the secondary market ( Fannie Mae and Freddie Mac) removed your right of prepayment on a home mortgage.
(THE FOLLOWING WAS REMOVED)
"The note holder will use (all of) my prepayments to reduce the amount of principal that I owe under this note. 1"
WHAT DOES THIS MEAN TO THE AVERAGE CONSUMER?
That they will be required to make "all monthly payments due under the Note 2" before they can reduce the principle.
IN LAYMEN'S TERMS
It means that you can not prepay a mortgage or reduce the amount of interest that you will pay on your mortgage loan. This will cost a homeowner thousands of dollars.
FANNIE MAE AND FREDDIE MAC LOOKED OUT FOR WHO!
Their stock investors at the expense of "American home buyers". This is apparent by looking at the new note language as of January 1st 2001 compared to the prior note language.
AFTER READING THE INFORMATION BELOW
For more information, you may contact
John S. Combs, Sr.
(815) 397-2100
[email protected] ....keep reading first.
1) Multistate Fixed Rate Note - Form 3200 12/83 (updated 9/91)
2) Multistate Fixed Rate Note - Form 3200 1/01
FANNIE MAE AND FREDDIE MAC RIP OFF CONSUMERS???
Historically homeowners have had the right to prepay their mortgages and only pay interest on the money that they owe from time to time. Changes made in the Multistate Fixed Rate Note (3200) as of January 2001 appear to have take away this right.
The note that originated in 12/83 and was modified in 9/91 has changed. The first change is in section 3 of the note titled "Payments". Originally the note said "My monthly payments will be applied to interest before principal." This has been changed to "Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal."
The second change is in section 4 of the note titled "Borrower's Right To Prepay". The changes are as follows;
1/01 I may not designate a payment as a Prepayment if I have not made all the monthly payments due under the Note. (Added to end of first paragraph)
12/83 The note holder will use all of my prepayments to reduce the amount of principal that I owe under this note. (“all of” Deleted from second paragraph)
1/01 However, the Note Holder may apply my Prepayment to the accrued and unpaid interest on the prepayment amount, before applying my Prepayment to reduce the Principal amount of the Note. (Added after second Sentence in second paragraph).
WHY DID FANNIE MAE AND FREDDIE MAC CHANGE THE LANGUAGE OF THE NOTE SO DRASTICALLY THAT HAS NOT CHANGED SINCE BEFORE DECEMBER OF 1983?
Because of one individual that was trying to help the consumers save interest charges with a few simple changes in how they paid their mortgage. Because of something called the ‘Mortgage Maximizer' that was presented to Fannie Mae in February of 2000 by John Combs.
CAN THIS BE PROVED?
It can be proved that the ‘Mortgage Maximizer' was presented to Liz Ryan, Senior Affordable Housing Business Manger of Fannie Mae at the Chicago Association of Realtors. The ‘Mortgage Maximizer' information system was shown to Liz on that date and she took the video program to show to others at Fannie Mae.
Since Fannie Mae said (www.fanniemae.com/savings/index.html) it is all about saving money for America's home buyers Mr. Combs thought that this would be a great program to help consumers and showed it willingly to Fannie Mae. Mr. Combs was eager to get this out to the public and called several times after the initial showing of the program to Fannie Mae but no calls where returned.
It can be shown that before the ‘Mortgage Maximizer' was presented to Fannie Mae consumers could prepay and the note holder would be required to use all of the prepayments to reduce the amount of principal that the borrower owed under the note. (see Deleted line from 2nd paragraph of 3200 note 12/83).
If done correctly under the old note (3200 - 12/83) borrowers had the ability to use the lenders payment (amortization) schedule to track, audit and prepay a mortgage to eliminate scheduled interest payments saving thousands of dollars over the course of the mortgage.
With the removal of ‘All of’ from "The note holder will use all of my prepayments to reduce the amount of principal that I owe under this note" only one conclusion can be drawn, that Fannie Mae and Freddie Mac do not want consumers to prepay a mortgage and save interest. Considering that this happened after the presentation of the ‘Mortgage Maximizer' from John Combs it is a logical conclusion.
WHO IS AWARE OF THE NOTE CHANGE THAT OCCURRED JANUARY OF 2001?
John Combs has talked with title people, attorneys, accountants, lenders and real estate professionals and to date none of them where aware of the changes. This puts many of them at risk for giving out incorrect information in regards to prepaying a home mortgage.
WHO SHOULD BE AWARE OF THE "MORTGAGE MAXIMIZER" AND THE CHANGES TO THE MULTISTATE FIXED RATE NOTE?
Bankers or lenders, title people, attorneys, accountants, real estate professionals and everyone who has a mortgage, plans to have a mortgage or is planning on refinancing a mortgage.
Bankers or lenders may not care about the changes to the note, but should be aware of it.
Title people, attorneys, accountants, real estate professionals and others that advice consumers in real estate transactions need to know the changes so that they don't give misinformation to consumers.
Consumers need to be aware that if they plan to refinance that they will lose their rights to prepay their mortgage and the ability to save interests and private mortgage expense. (PMI), based on the new mortgage language.
IS THE NEW LANGUAGE ON THE NOTE CLEAR?
No! Due to the confusing language of the Multistate Fixed Rate Note released January 2001 many lenders, Realtors and lawyers have different opinions. Only when comparing notes to each other does it become obvious that the intent of the changes where to stop borrowers from being able to prepay to skip and thus save scheduled interest payments. This is especially apparent after viewing the ‘Mortgage Maximizer'.
WHAT IS THE INTENT OF FANNIE MAE AND FREDDIE MAC IN CHANGING THEIR NOTE LANGUAGE?
John Combs can not to date get Fannie Mae to clarify the intent of the language. It is apparent to John that the new note language takes away the right to borrowers to save interest expense by prepaying and that the changes to the note were a direct result of him showing his ‘Mortgage Maximizer' to Fannie Mae. If that is not their intent then they need to clarify the new note language that can be interpreted as not taking away the borrowers right to prepay to avoid interest expense on the prepayment amount.
WHAT IS THE "Mortgage Maximizer"?
It is a learn for life do it yourself mortgage tracking and prepayment system that allows borrowers to properly prepay their mortgage systematically, on a payment to payment basis, as they can afford to and within their monthly budget. Provided on a 30 minute VHS tape, it takes you through all the required steps to properly prepay your debt to eliminate paying scheduled interest payments and reducing required Private Mortgage Insurance payments. This is possible by properly utilization the lenders payment (amortization) schedule. Included is how to adapt the Lenders payment schedule for your use, provides you the required written notice of a prepayment as required by your note and much more. Conceived in 1992 the ‘Mortgage Maximizer' resulted in the creation of a not for profit organization in 1999 called the "Consumer Debt Reduction Institute". John Combs is the founder and president.
The Consumer Debt Reduction Institute is an organization that was formed to be a resource and advocacy organization for consumers throughout the Continental United States with regards to consumer debt. It's purpose will be to research, provide programs, partner with others and provide education to all consumers on how best to deal with consumer debt from the consumer's prospective.
WHAT YOU CAN DO TO HELP YOURSELF
1. Contact your State and Federal Congressman and Senators and request that they protect your right to prepay a home mortgage to save interest charges. Let them know of the changes to the Multistate Fixed Rate Note that remove the note holders requirement to use all of your prepayments to reduce the amount of principal that you owe under the note.
2. Call, write, send e-mail, go see anyone who you think might be able to get this change to the Multistate Fixed Rate Note changed back to the way that it was and give us our right to prepay back.
3. Don't be silent, let everyone you know what is happening and ask them speak out for our rights and those of our children.
4. Let me know what is going on in your community. If you know anyone that you feel may listen and help the Consumer Debt Reduction Institute to get the facts out - Contact us!
5. Get and use the mortgage payment system called the "Mortgage Maximizer" and use it to force lenders to treat you fairly when it comes to controlling your amortized mortgage debt. Questions on the ‘Mortgage Maximizer' can be answered by visiting our web page at http://www.stopinterest.com.
6. Financially support the Consumer Debt Reduction Institute so we can work full time to help and support borrowers rights against those that want to take them away. A donation of $5 to $10 or more from each of you can allow us to afford to be your eyes, ears and voice in regards to this important issue. Our address is Consumer Debt Reduction Institute 4315 East State Street Rockford, IL 61108
FANNIE MAE & FREDDIE MAC Note LANGUAGE CONVENTIONAL LOANS TAKEN FROM THE ORIGINAL NOTE.
MULTISTATE FIXED RATE NOTE - Single Family - FNMAFHLMC UNIFORM INSTRUMENT Form -- 3200 12/83 -- 9/91
3. PAYMENTS
(A) Time and Place of Payments
I will pay principal and interest by making payments every month.
I will make my monthly payments on the ___ day of each month beginning on ___________ .
I will make these payments every month until I have paid all of the principal and interest and any other charges described below that I may owe under this Note.
My monthly payments will be applied to interest before principal. If, on _________ , I still owe amounts under this Note, I will pay those amounts in full on that date, which is called the "maturity date" I will make my monthly payment at ____________ or at a different place if required by the Note Holder.
(B) Amount of Monthly Payments My monthly payment will be in the amount of U.S. $ ________
4. BORROWER'S RIGHT TO PREPAY
I have the right to make payments of principal at any time before they are due. A payment of principal only is known as a "Prepayment". When I make a prepayment, I will tell the note holder in writing that I am doing so.
I may make a full Prepayment or partial Prepayments without paying any Prepayment charge. The note holder will use all of my prepayments to reduce the amount of principal that I owe under this note. If I make a partial prepayment, there will be no changes in the due date or in the amount of my monthly payment, unless the Note Holder agrees in writing to those changes.
::::::::New as of January 1, 2001
MULTISTATE FIXED RATE NOTE - Single Family - FNMAFHLMC UNIFORM INSTRUMENT Form -- 3200 1/01
3. PAYMENTS
A) Time and Place of Payments
I will pay principal and interest by making payments every month.
I will make my monthly payments on the ___ day of each month beginning on ___________ . I will make these payments every month until I have paid all of the principal and interest and any other charges described below that I may owe under this Note. Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal. If, on _________ , I still owe amounts under this Note, I will pay those amounts in full on that date, which is called the "maturity date" I will make my monthly payment at ____________ or at a different place if required by the Note Holder.
(B) Amount of Monthly Payments
My monthly payment will be in the amount of U.S. $ ________
4. BORROWER'S RIGHT TO PREPAY
I have the right to make payments of principal at any time before they are due. A payment of principal only is known as a "Prepayment". When I make a prepayment, I will tell the note holder in writing that I am doing so. I may not designate a payment as a Prepayment if I have not made all the monthly payments due under the Note.
I may make a full Prepayment or partial Prepayments without paying any Prepayment charge. The note holder will use my prepayments to reduce the amount of principal that I owe under this note. However, the Note Holder may apply my Prepayment to the accrued and unpaid interest on the prepayment amount, before applying my Prepayment to reduce the Principal amount of the Note. If I make a partial prepayment, there will be no changes in the due date or in the amount of my monthly payment, unless the Note Holder agrees in writing to those changes.
For more information, you may contact
John S. Combs, Sr.
(815) 397-2100
[email protected]
11 Updates & Rebuttals
Carlyn mccabe
union city,New Jersey,
U.S.A.
Hello!!! Help is still needed for many who have been scammed by DeMarco,Rei
#2Consumer Comment
Mon, February 13, 2012
This is so sad and if it were'nt for Ed and Ripoff Report things for us might even be worse!!Are consumer advocates and Governnment agencies such as HUD,FHA,reading these reports???
We need help to get back our homes: Ocwen does not want to help and they don't care,Ocwens attorneys don't even read what they sign off on and when you bring it to their attention theu call it a typo error , this typo error was significant I reside in Union city New jersy and the property Ocwen can offer no resolution on is in Pennsauken and the addresses are different too,these are attorneys and organazations taht are suppose to b eworking with our government and trying to save homes???
I am getting frustarted and concerned:Ocwen has already stated they can not help me or offer any resolution to the property,why can't someone step in for us: These straw buyers just get away with forgery,getting a piece of our equity and no wno one wants to help??
We may have been ignorant but how were we to know when these closings were done at Title companies owned by reputable lawyers? our documents were not notarized and they are fraudulent anyway : This is a merry go round and help is needed.
Why isn't our Government looking into Ocwen? Ed's staff has posted hundreds of reports about Ocwen and they are still in business deceiving and hurting individuals every day.
They are rude and could care less about our homes,just money to them. This should not be allowed!!!
While it is great that our president,Barack Obama just passed legislation to help homeowners who were burned by mortgage fraud and predatory lending: Why are we being pushed aside? It is true mediation is about to begin however Ocwen does not want to help. I can't do anymore,I am working,i am back in school furthering my eduacation. All the equity was stolen from my home, the straw buyer filed bankruptcy.
Is anyone looking into this??? Or are we just going to be thrown out of the homes that Straw buyers aka investors made money on and lied and said this was ther palce of residency??
We are not rich as Ocwen and many of the banks pointed out: we were in Foreclosure to begin with> we paid rent and the proceeds from these sales were kept by Anthony DeMarco and he paid the straw buyers.
Why are we getting punished?? If we had some of the equity taht wa sstolen we could be paying a mortgage,and to add insult to injury I am being told to find a broker,Ocwen is not a bank.
Once again help is neeede for us who were scammed by DeMarco,REI : Ocwen want sto put us in the street .
Can't anyone see this is wrong. Plese help!!! I have all documnets from the start of the scam: Hud statemens,Closing docs, unsigned,unnotarized documents.
Once again someone has to help save us from losing these homes. Please????
Thanks Ed and staff,you are my only hope,I ahve written to so many agencies and individuals all in vain but you and your satff always come through.
Please help save our homes!!!!!!
Carlyn mccabe
union city,New Jersey,
U.S.A.
Broker needed to help foreclosure victim who was scammed:equity stripped,house flipped ,Investor filed Bankruptcy
#3Consumer Comment
Fri, February 10, 2012
Once again Ed we Thank you and your staff,all of you are awesome and I hope I get some help soon,time is running out,I can find no brokers ,150,000 cash which Hud docs state was given to me but instead Demarco kept and shared with his slugs and nothing was notarized by Title agent and closing fees were in excess of 4300.
So any brokers who want to help me, It must be by mediation time because Ocwen is not a bank and it is not Ocwens fault that TBW was shut down: News Flash "Ocwen was shut down too,but they got rewarded and now they get to take our homes away with the help of Freddie Mac.Ocwen now owns Litton Loan : Read the Ripoff Reports on Ed's site,thats how it is in America now, you get rewarded even after you are shut down .
I have to keep on asking for help " Save The American Dream" not working for us 99% those programs seem to be non existent for me.What is sad about this is I am trying very hard and all the equity from the sale of my home was shared with DeMarco and his criminals and I am suppose to find a broker???
Ed Magedson and RipOff report is all I have: I love this site,many of us who were scammed by DeMARco,Rei wrote our situation and the FBI caught them, and it was better than any lawyer and it was free!!
I feel as though I am wasting my time ,Though I am paying to further my eduaction and my grades have been good , soon I will have no house.
Barcak Obama I am so happy you and the Government and the banks are helping all those Americans who were involved in Foreclosures and Predatory Lending: Barack Obama and banks some help is also needed for us and Ocwen can't do it,so can any of these banks help me??
I really do not think a broker can help me: I was scammed along with 120 other victims,the bank involved does not want to help me: Please can someone help me save my home???
We paid DeMarco thousands of dollars and he stole our homes,took away our dignity: I worked 30 years I don't want to be evicted or lose this home; Plese help save my home, the straw buyer never even lived here and got a lot of my equity ; Ocwen this is not my fault,Why are you & Freddie so greedy? I would have had some money for a mortgage but Demarco took 2900 a month frome me. Please,Please can someone help save my home and any homes that were involved in this awful scam?????
I am off to work now,each day gets worse for me,my home needs to be saved and I hope our Governmant can help.
Thanks everyone and Ripoff Report I truly appreciate this site and I hope my home can be saved!!!
Carlyn mccabe
union city,New Jersey,
U.S.A.
4:48 AM I can't Sleep: I bet all the Straw buyers aks as investors are sleeping and Ocwen aand Freddie just want our homes!!!!!
#4REBUTTAL Owner of company
Fri, February 10, 2012
Good Morning Everyone: Once again I am taking advantage of Ed Magedson and his staff so once again I can go over this Scam,maybe some one will read and try and help save these homes!!!
It is very hard to understand why we are looking like the bad guys and why Ocwen on behalf of Freddie does not want to help: One reason might be is they just want us out,the homes are nice and they can sell them and Ocwen will get richer so they can pay millionaire politicians another million dollars and who cares that we were scammed and our equity was stolen ,and there are HUD docs stating I was paid 150,000 though it was not notarized and than my signature was forged ,MERS was involved, Litton was also involved this applies to me but this is what happened to all involved in this scam difffernt banks,different person aka victim.
I love my little house,so many plans: I was going to open a business, and try and pay my house off early now I am told no resolution,no mortgage will be offered. Too bad I came upon hard times.There are names and stories attached to each and every one of these homes each individual involved was trying to save their dream. One woman wanted to refinance to pay her mortgage and send her daughter to college,Valerie was recovering from thyroid cancer,Kim and David were trying to make ends meet. Mark & Angel Sullivan thought they were refinancing and Demarco sent real estate agents to tear down their wall paper and try to evict them.
Perhaps some of the banks involved will help the individuals but Ocwen no way ! There were suppose to be individuals who were suppose to "Help Save The American Dream" but I was advised to find a broker. No broker can help me now: The equty was stolen,the payoff on the home was 172,000 and Demarco sold it for 365,000 and kept 150,000 and charged me 2900 rent ,the reserves that were to be set aside none of us got any" reserves"
So It ends the majority of the Straw buyers were in it for the money,don't forget Biana,DeMarcos ex wife AKA the Philly Fashionista, Biana is doing just fine, has many homes was an investor,than we have Tripper, Buzz, and so many others.
Ocwen cannot even get an address staright,they don't care,a typo error but the same applies no resolution for the real property! When you sum this all up its quite tragic and sad: Anthony DeMarco comes along with his slugs and scams millins of dollars from Foreclosure individuals,investors get paid with our equity,we pay rent,Hud docs are forged. These Straw buyers are fine; They just file Bankruptcy,Foreclosure they got their money,no down payment and look at us: Equity stolen,now none will help us: Just for the heck of it: Are there any brokers who want to hel me: I am working part time amd all the equity was stripped from my home and the investor who got a "payoff " this is a Disgrace!!
One More Time; Legitiamte help is needed to save my home and others all our equity was stripped and the homes were over appraised so the straw buyers and Anthony DeMarco could get top dollar on the properties for his Ferraris and Bentleys Jewelry,etc,etc,etc!!!!!
Ed, our savior we thank you: There are so many reports out there can someone help and try and save these homes???
Good Morning I am going to try and get some sleep.Maybe some broker will give me a mortgage.
Carlyn mccabe
union city,New Jersey,
U.S.A.
Help needed to save homes involved in Scam :Equity stripped,Investors (straw buyers filed Bankruptcy)
#5Consumer Comment
Wed, February 08, 2012
In December of 2010 the FBI with the help of Ed Magedson and his staff help put another predator aka" Anthony DeMarco and his slugs" behind bars.
120 homeowner were scammed,31 million dollars was taken from the homeowners,equity was stolen,many of the straw buyers received loans on our homes, the straw buyers also were paid for
"Buying" these homes,rent was paid ranging from 2000 to 4000 which was double our mortgage payments, reserves were to be set aside for the former home owners instead it was also stolen and our signatures were forged aka as copied and pasted to other documents.
Our Government put a temporary injuction on these homes and the courts are attempting to try and save our homes.
A mediation process has begun: Ocwen and Freddie Mac are two agencies involved in "Trying to Save The American Dream"
I have received an answer from Ocwen on behalf of Freddie Mac Ocwen or Freddie Mac can offer no assumption to the loan or resolution to the property!!
The straw buyer who obtained some the equity from my home,possibly a loan on the home and
a share in the 2900 a month : Mr. Straw buyer has now filed Bankruptcy: On all 3 properties he invested in.
This leaves me , with no resolution to the property?! Can someone please help me and anyone who is about to lose their homes due to this scam??
150,000 was stolen from me,my signature was forged,no closing documents were notarized,the title company involved has changed their name.
Its not only me ,120 individual sshould become homeless,yet these investors get away with their part in the scam???
I am paying to further my education so I can get a better job to pay a mortgage again. Now these Government sponsored agencies can't help!?
Attention: Just like there were bail outs for the banks amd General Motors there has to be some help for us!
We are not rich,we are not big corporations,Money was stolen,signatures were forged.We were robbed over 100 of thousands of dollars in equity: Plese Help Save our Homes,Give us a bail out loan : We will pay back,we paid this crook DeMarco and he took our homes.
DeMarco took our money,forged our signatures,Please help save our homes and our dreams,
Any agency that can help us please "We will pay you back" Our money was stolen. Give us taht second chance to be whole again"
We made a mistaeke but we need a chance to get back our lives!!! Please help us who were scammed by DeMarco???
Thanks Ed for your site and thanks to all your staff. Time is running out can someone please help save these homes????
Carlyn mccabe
union city,New Jersey,
U.S.A.
Newt Gingrich Mitt Romney own stock in Freddie Mac "Just gets worse and worse for the 99%
#6Consumer Comment
Thu, February 02, 2012
I cannot understand why Newt and Mitt are running for president of the United States? Mitt romney said he does not want to help the poor,Mitt is a billionaire and another thing what is up with Freddie Mac and all these politicians? Mitt & Newt both hold stock in Freddie Mac and have no intentions of helping the poor,and the way things are going there will sooon be no" middle class."
. Ripoff Reports are consatantly being writtten regarding Ocwen and Freddie Mac but nothing gets done: I am relying on Ripoff Report this is the way the 99% gets heard through Ripoff Report and its founder,Ed Magedson,sooner or later the right person will read these reports.
Is there anyone out there who can help those of us who were involved in predatory lending or mortgage scams? I am so appallled and disgusted with the way things are being done. We are being ignored,there are no bailouts for us.
What about someone to look into forged documents and documents that were not notarized??
It don't look good for the USA at all: A billlionaire running for president,who has money in off shore accounts,Ocwen who was shut down and just changed their name around.Mitt the billionaire has stock with Freddie.
Do we stand a chance?? For anyone who is drowning due to ocwen or Freddie mac just keep on writing on Ripoff Report I do and I so thankful for this site.
I am really praying for us all and hoping some justice will be served for us: We don't want a hand out just a bailout so we can be whole again.
Anyone reading this: There are a lot of individuals who are in Financial distress : Please help us,we don't want to become homeless.
Thank you all at Ripoff Report once again for your site. God Bless
Carlyn mccabe
union city,New Jersey,
U.S.A.
Government sponsored loan needed: For victims of Predatory Lending and Foreclosure scams: Reason being,'WE don't want to lose our homes"!!
#7Consumer Comment
Tue, January 31, 2012
Before I take full advantage of Ed Magedson and his staff at Ripoff Report:I want to thank you for all your hard work and express my thanks and gratitude, we are so grateful for this site. Ripoff Report help put Anthony DeMarco behind bars,Your site is a Blessing to many of us and once again
we thank all of you.
I hope Hud,the FHA and our Government officials are reading these reprts On ocwen,Freddie Mac and all the horrible tactics Ocwen and Freddie Mac have and are using.
I also want to know why we can't get assistance,if Freddie Mac can pay Newt G,a millionaire 25,000 retainers and a million a year,than how come a loan cannot be arranged for us?
Our President,Barack Obama spoke about "outsourcing jobs " at the state of the union and Freddie Mac who is working with the Government does outsourcing to India? Barack Obama said individuals who bring jobs back to this country will get a tax cut.
Our Government should look in their own back yard and check out Freddie Mac!! I am so disgusted : After all that happened with DeMarco Rei,I am advised I should find a mortgage broker!!!
This all has to stop,the banks and big corporations received their bail out and we deserve the same! I cannot get a mortgage from anyone, Demarco sold my house for twice the amount I apid for it,kept the equity.
I just want a Government sponsored loan so I can pay a mortgage and get back to living a normal life, I am trying ,I am furthering my education so i can afford a mortgage again , but since my equity was stolen and the investor filed Bankruptcy, I need a helping hand to get back on my feet.
I am asking if a bail out can be worked out for us all: Why take a home away the I worked 30 years for ,Why put any of us through this? It would be a win win situation for all involved. Why,because we are getting our homes back and the money will be paid back.
Once again anyone reading this who can help: Please read all the Ripoff Reports and try and help us. Time is definitely running out for me and I know no mortgae broker can help me. I need some financial assistance so I can pay a mortgage and get back my home.
Please,someone help us so the American Dream can live on and we can stop living a nightmare.
"Help is needed for the 99% " and if Freddie can pay Newt over a million can someone please help us.
Thanks again Ed and stafff: Can someone please help us ? Good night and God Bless the United States of America!!
Carlyn mccabe
union city,New Jersey,
U.S.A.
Freddie Mac paid Newt Gingrich millions: Obama,Hud : Why can't We the voters,aka as the 99% get some help???
#8Consumer Comment
Mon, January 30, 2012
It is close to 2:am on Monday,January 30,2012 and I can't sleep Why? Our homes were involved in a foreclosure scam,with the help of Ripoff Report the criminals are awaiting trial and behind bars,aka" Anthony DeMarco and his 4 slugs".
The bank who holds the mortgage on the home that was once mine: Ocwen,and it gets better Ocwen and Fredddie Mac are now working togethher to "Help Save the American Dream" !??
In early December I received a letter from Ocwens attorneys which states"On behalf of Ocwen and Freddie Mac : No assumption of mortgage or any resolution to the real property wil be offered:
"If you still wish to proceed with mediation please sign the enclosed form".
The FBI, along with our Government and a lot of help From Ed and Ripoff Report caught DeMarco but it does not look good for us at all ,for starters Ocwen had the wrong address on the court document I reside in Union City,the property on the court document was Pennnsauken,New Jersey.
This was addressed to Ocwens attorneys,their answer was a "typo error" but same applies to my property.
This is suppose to a company trying to Help Save the American Dream? It gets even better I have received a call from the courts advising me I should find a broker before the mediation to get a mortgage: First of all the straw buyer declared Bankruptcy,all of my equity was stolen 150,000 and I was also charged rent of 2,900.
I am working part time,I am furthering my education,which I am paying for and I should find a broker,cause the court said Ocwen does not give out loans they are not a bank.
When I advised the person from the court that Ocwen was crooked and fraudulent,I was told that they acquired the mortgage from TBW and it is not Ocwens fault!!
How am I or anyone involved going to get help with this kind of system: I have every document from day one,when this all satrted. I have Hud documents that were not signed or notarized and I am not losing this home.
We have all read about these low mortgage rates and bail outs well where are they?? I am very glad Generl Motors was saved but there are many of us out there who are about to lose our homes.
Why did the banks get a bail out and now those of us who were involved in Predatory lending and Scams are just being pushed aside???
Why would a court advise someone who was involved in a a scam to get a mortgage broker??? I need a bail out from our Government, many of us do. We want to live the American Dream, instead we are living nightmares. Why was i advised to find a broker.
Why can't we be compensated with a bailout,we will pay back just like General Motors did.
One other thing that really shocks me: Romney a billionaire and Newt Gingrich are running for the office of presidency? These are rich individuals who don't care about us,the 99% at all!!!
As for Barack Obama ,yes he has helped General Motors but the Governament should be helping us ,we may be middle class but we help put all these politicians in office so how about some help for us???
Can someone really help save the American Dream for poor middle class people? If Freddie Mac can afford to pay Newt millions can't Freddie Mac help us??
Demarco stole 31 million dollars from homeowners and now the Government can't help us???
I still don't undersatnd how Ocwen was chosen to help anyone,they were shut down by the FHA when they were Ocwen,FSB.
I don't know where our country is going: Crooked mortgage companies,shady banks and Freddie Mac paying millions to Newt ,yet no one can help us.A PLEA FOR HELP: Can someone really save the American Dream?? Time is really running out and homes must be saved!!!!
Thank you Ed,and of course we thank the great and awesome staff at Ripoff Report: Attention,anyone in foreclsoure please write your situation on Ripoff Report,we must keep on writing and letting America know what is going : Can someone Help Save our Homes??
Carlyn mccabe
union city,New Jersey,
U.S.A.
And The Beat Goes ON ******* And On And On*****
#9Consumer Comment
Tue, January 24, 2012
Once again "we,the 99%" Thank you Ed,Thank you Ripoff Report,Thanks to the media and Television :Freddie Mac paid Newt Gingrich 25,000 a month!! Newt Gingrich a millionaire gets paid over a million a year from Freddie Mac and individuals in Foreclosure get nothing but "grief " aka I can't help you because you are not rich aka the 99%!!!!
This really baffles me,we are all struggling to eat and keep a roof over our heads and Newt Gingrich who has had all kinds of Ethics violations,exorbitant jewelry bills aka "Tiffanys" and Frddie Mac a "government sponsored agency" paid Newt all that money?
How can we get help with all this going on? Once again just read the Ripoff Reports on this site alone. I along with 120 other" former homeowners" am waiting to proceed to mediation to save my home. Ocwen, on behalf of Freddie Mac has already sent written notice that there is no resolution to my property and there will be no assumption of mortgage or loan offered.
This gets better I received a call from the court advising me : Ocwen can't offer a loan because they are not a bank,and I should try and find a broker who will give me a mortgage and I should find this broker before the mediation!!
"Piece of cake" right? After all Demarco only stole 150,000 in equity from my home,I was charged 2,900 rent,than DeMarco "sold " my home to the straw buyer for 365,000 and I paid 105,000.Oh yes! Definitely I who work part time, I am paying to further my education,my credit report has a Foreclosure on it!
I know the Mortgage Brokers can't wait to offer me a loan.Why is this going on in America?? Our Government should be helping individuals who have been scammed or have come upon hard times a bailout of some sort!
Why did Freddie Mac pay all this money to Newt?? How come we can't get a helping hand? Seems like we are all being sold down the river,even the courts are on the bad guys side.
So this is my plea and prayer for assistance: United States Government,Freddie Mac,Hud many struggling individuals are struggling to save their homes: Some are in foreclosure,while others have been involved in scams,involving equity stripping,fraud and forgery.
Can a Government sponsored loan be arranged so we can get back our homes? We will pay you back.
Freddie Mac paid a millionaire 25,000 a month if a loan can be arranged for us we will pay it back.
We would even work for Freddie Mac, we could advise and help individuals on how not to get screwed by Predatory lenders!!!
Time is definitely running out for me,I am back to school ,but need that better job now.
Freddie Mac think about it: A bailouut loan would help all of us in need in the long run and you will get your money back.
If Freddie Mac can a politician over a million dollars,why can't someone help us??
Consumer Advocate Attorneys,HUD,FHA plese help us,I am not getting any younger and would like to be comfortable as I approach retirement. We just need that bail out to save our homes.
I need someone who can help me with a loan so i can back my home.
Last but certainly not least: Ed on behalf of all of us,we thank you and also The First Amendment and the Media for exposing Newt Gingrich's great pay days from Freddie Mac.
God bless everyone and I hope someone can help us.
Karl
Highlands Ranch,Colorado,
U.S.A.
NATIONWIDE ALERT- 'FANNIE POEM' & 'FREDDIE POEM' are...
#10Consumer Comment
Fri, August 22, 2008
available to be read now!! 'Google' this to read them- A CREDIT CARD YOU WANT TO TOSS, and go to the 'Comments' section. They are both available NOW!!!!!!!!!!!!!! POWER TO THE PEOPLE!! 'FED POEM' is also available by 'Googling' this- RIP OFF REPORT TOYOTA MOTOR CORPORATION USA MANIPULATION, and going to the 'Updates' section!!!!!!!! Write a poem- they'll all know 'em.!!!!!!
Chris
New Carrollton,Maryland,
U.S.A.
Fannie Mae getting their just desserts
#11Consumer Suggestion
Thu, March 03, 2005
I read just today (02/03/2005) that Fannie Mae is facing billions more in losses. Funny, how this company has tried to run/ruin peoples lives for so long as if they were a god. but today I have read an article that fannie mae is expected to lose BILLIONS more...lol heres the link from MSNBC.com ->http://www.msnbc.msn.com/id/7076206/
YOUR RIGHT TO PREPAY ON A CONVENTIONAL LOAN IS STILL THERE
#120
Thu, January 03, 2002
They filed the following rebuttal to the above Rip-Off Report: Their email: [email protected] Their name: Frodo Their relationship to the company: Consumer Suggestion Rebuttal: YOUR RIGHT TO PREPAY ON A CONVENTIONAL LOAN IS STILL THERE. On March 2001 I refinanced. My note used the new conventional mortgage form. In December 2001 I refinanced that mortgage to yet a lower rate. The March and December mortgages both used the form 3200 01/01 and used the "new language." It just means that you cannot reduce the principal until your interest is paid to date. There are loans with prepayment penalties, but the note will specify the amount of the prepayment penalty. These account for a small minority of "prime" mortgages. Those with weaker credits often end up with prepayment penalties.
