Has your bank gone AWOL?

McGookey Law
Aug 8, 2013

We’ve had several cases recently where our client/homeowner’s bank essentially disappeared from the radar screen in terms of trying to collect payments on the mortgage.  This has happened both in a case following a long foreclosure battle and in situations where no foreclosure was ever filed, despite the fact a payment was not for years.  The end result of these matters was that the bank, for whatever its reason, essentially decided to walk away from its mortgage and accept an amount, which was only a small fraction of the loan balance as payment in full.

Greg first came into our office years ago with a foreclosure complaint in hand.  After a year or so of fighting the foreclosure, the court eventually granted the bank judgment.  We then appealed, arguing that Greg’s bank had failed to prove that it was the right party to be suing.  The Court of Appeals agreed, reversed the judgment, sending the matter back to the trial court for further proceedings.  What happened next was truly amazing.  Rather than continuing the battle, the bank offered to accept as a full payoff a sum essentially amounting to what it would have cost Greg to continue to fight the foreclosure.  

Bill’s journey was different than Greg’s, but the end result no doubt will be the same.  Before coming to see us, Bill experienced problems with his mortgage, and started missing payments.  Several years of nonpayment went by, but surprisingly Bill’s bank never sought foreclosure.  Tired of being kept in limbo, Bill authorized us to reach out to his bank in order to get the matter concluded.  After all, even though he was not paying on his mortgage, it still was recorded with the county recorder, a fact which prevented him from doing anything with the real estate.  Right out of the box, Bill’s bank offered a substantial discount as a full payoff, which would result in a cancellation of the recorded mortgage.  Though we are still in the process of negotiation, it appears certain that we will reach a deal, and Bill’s mortgage will disappear.

The lesson in these stories is that in this day and age of loan securitization, a process where mortgages are bundled, sold and resold, you never know when the bank claiming to own the mortgage may throw its hands up in the air in exasperation and admit defeat in terms of trying to collect.  If you are a homeowner who hasn’t made a payment for months, and yet your bank hasn’t filed foreclosure, you are not completely in the clear because you still have a recorded mortgage against your home.  On the other hand, the fact your bank has gone AWOL may very well signal a huge opportunity to rid yourself of the mortgage, you safely in your home for good.

Note from the author: If you have questions or comments- regarding this or any Foreclosure Story article, please visit www.mcgookeylaw.com or visit us on Facebook.

Kate Eyster and Lauren McGookey contributed to this article.

Copyright 2013 Daniel L. McGookey

Comments

Nemesis

Who cares? YOU SHOULD. Otherwise, what is the point of all this? Why have you spent all this time ranting about this, except that somebody essentially stole from you? What kind of nutjob rants about someone stealing from them but doesn't want what was stolen back? The fact remains that, so far in this sad tale of yours, they are winning and you are losing. They are making money, and you are.....what? Is it more important to solve the problem, or to whine about it? Every time you post, they are probably laughing at your continued loss of credibility - you are HELPING them get away with it.

It's clear you don't know what you're talking about - you don't even understand the terminology you are using. You repeatedly talk about "power of attorneys" doing things - a power of attorney can't DO anything because the term refers not to a person, but to a piece of paper.

Answer the questions and you'll begin to understand.

Julie R.

Gee Nemesis, it wasn't just the stocks that were still in my mother's name after her death --- the stocks that for some odd reason the dirt-bag attorneys couldn't get out of her name --- that the dirt-bags and the probate court made sure weren't put into her probate estate. Neither was it just the property that was fraudulently transferred 7 months before her death that ~ thanks to the Erie County courts ~ wasn't put back into her estate.

The one fraud power of attorney (who by the way, even ended up defrauding the other fraud power of attorney) didn't have to put the $140K that was left from the internal, criminal changes to my mother's contracts at an insurance company and a Huron bank prior to her death, either ~ which was the money from my mother's side of the family that I was supposed to make sure was paid out someday to 4 people. The trash didn't even have to put the money from the life insurance policies that she cash surrendered in 2 months before my mother's death on a forged power of attorney with bogus Erie County Recorder numbers faxed down the side of it.

And you say that scum is going to get me for "fraudulent intent" because a holding company for Prudential stock is making a last attempt to get dividend checks still in my mother's name cashed before they turn them over to the state? What a joke ---- about as big a joke as your corrupt Erie County courts.

Nemesis

Keep digging Julie.

Julie R.

Once again, those Erie County clerk of court's records that are now online sure are false and misleading ---- and I do mean FALSE!

I never filed a partition action to have my deceased mother and stepfather's property sold at a scam sheriff sale with one of the beneficiaries to it defrauded under a fraud preliminary judicial report that falsely stated there were no defects in the title --- and the common pleas and probate court knew I didn't. Neither did I ever file a bogus sham lawsuit in the jurisdiction of Cuyahoga County ~ a jurisdiction that had nothing to do with my mother's Erie County probate estate ~ against Prudential Life Insurance Co., Huron's Key Bank, and that one despicable fraud power of attorney. (who by then was the executrix of her Huron Italian stepfather's probate estate) Once again, the crook attorney I had filed those things and he did it without my knowledge or consent. When I found out what the crook did, I fired him .... yet the records say he "withdrew" from the case. The records then show how fast the Lorain County attorneys for the executrix to her stepfather's estate (from the same Lorain County law firm as the Lorain County attorney I had complaints filed against) were to request a hearing on that scam partition action after I fired the crook --- a hearing that I was never notified of. The record also states that another attorney right before that hearing "withdrew" as my attorney ---and that sure is a joke because that crook attorney (from the same law firm as the one I fired) was never my attorney to begin with.

Also, notice that the online records say the property was sold at a sheriff sale in October 2007. That information is false. After Binette denied my petition to stop the sheriff sale, I received a certified letter from that crook attorney (who wasn't even my attorney) that the property was sold on May 8, 2007. He even gave the amount it was sold for and the name of the person who bought it --- and at the time it sure wasn't "Maximal Properties, LLC." Yet 3 months after I was told the property had been sold, I received a call from the city of Huron that neighbors were complaining about the grass not being cut and said if it wasn't cut the city was going to do it. I noticed on the online records that Binette even took THAT charge right off the top of the scam.

Nemesis

answer the questions, Julie

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