https://x.com/WallStreetApes/status/1849536100328501579
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More people speaking up about North Carolina Hurricane Helene Victims having their home mortgages bought out by a company owned by Vanguard
So the same company doing the FEMA home evaluations is also buying out the people’s mortgages who had their homes destroyed. Pure insanity.
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No, Mr. Cooper does not perform FEMA home evaluations. Mr. Cooper is a mortgage servicing company, and their services focus on mortgage origination, refinancing, and loan servicing.
FEMA home evaluations are conducted by FEMA or their contracted inspectors
fema.gov/es/press-relea…
mrcooper.com/about-us/overv…
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8:39 AM · Oct 24, 2024
This company bought my mortgage from USAA. Then immediately I get a letter saying a data breach happened but they are really serious about my security. Can't wait to refinance, is there anyway to keep your mortgage from being sold when you refinance or are you at the whim of whichever pedophile homosexual communist has the most money?
Let your neighbors know, no contract no loan, and no obligation to pay. If you make a payment, make it to the old bank to show you are willing to pay that bank but refuse to do business with the new bank. Those contracts are very important.
Actually you have no contract with the new bank. People in CA that were with Countrywide had their loans sold to BofA, if you make a payment on the new loan means you agree. It wasn't in the main stain news but a bunch of people fought and won.
Do not correspond and get a Lawer, refuse to pay, force them in court to show a contract. You might with a good lawyer no longer have to pay to anyone.
This is absolutely true. I have a friend who did this. She learned how the foreclosure process works and knew all their tactics before they moved forward with foreclosure.It took at least a year of negotiations and her loan being repeatedly sold during the process, but she now owns her home outright. She never made a single payment. She beat them at their own game. It can be done with enough perseverance.
You guys are seriously trying to get people's houses stolen from them by posting this nonsense.
No, it's not illegal for a mortgage company to sell your mortgage:
Federal law: Federal banking laws allow lenders to sell mortgages without your consent.
Loan contract: The terms of your loan contract also give your lender the right to sell your mortgage.
Common practice: Selling mortgages is a common practice in the mortgage industry.
When your mortgage is sold, you'll receive a notice in the mail with the new owner's contact information. The new servicer will also send you instructions on how to set up a new account. You'll have a 60-day grace period to make payments without incurring late fees or having your loan declared delinquent. In most cases, the terms of your original agreement won't change when your mortgage is sold. The only thing that will change is where you make your payments.
The facts are that federal law allows it, and she got lucky AF.
Yeah this is everything that happened to me. I'm not well versed in this and am wondering if there are good reputable companies out there who will refinance AND keep my loan. I looked at Larry Elder's Old Glory Bank but they said sadly they have to have loans serviced by another company right now but want to change it in the future.
Countrywide went belly up right? I had them, it went to BofA.... that was years ago, we already paid them/house off.
Yeah that is the one I was talking about. I paid mine off also but found out people fought in court and won. If we had made no payments to Bof A we would not have been under contract. Most people like us had no idea we had no obligation to pay BofA anything.
You have zero control over it.
That is what they want you to believe, but the contract law says otherwise. The bank must have a contract with you not the original bank. This is true with collection agencies. I had one contact me and I told them to send me a copy of there contract with me. It was fraud anyway all my bills were paid. They said they didn't know what the debt was for, probably a utility. I told them, ok go ahead and send a contract that I had made. I never heard from them again.
If you actually read your mortgage loan paperwork, they specifically put in there, that they can sell your mortgage to whomever they wish and whenever they wish. I know; I read every single page of mine in front of the lawyers. At least in Virginia, they do.
The problem is you're trying to compare a mortgage lender to a collection agency, they're not the same. While you can get away with telling the collection agency to provide proof of debt via FCRA, you cannot do that with a mortgage lender.
That is the thing, it is not in mine here in Calif. They may have changed as this was quite awhile ago.