I am suing Citimortgage.....follow along as I hang these bastards.

Hi ATS,

I have retained a very reknown attorney to sue Citimortgage. I am willing to post the various pleadings, in hopes that I can help someone else prevail, especially if going pro se.

In December of 2009 I was approved for a loan 'repayment' plan. This was NOT a trial modification, according to the paperwork, but a bona fide 'repayment' where all arrearages would be rolled into a new loan. The only criteria was that I make timely payments for three months. I made these payments as agreed, by certified mail, for all three months. After the March payment, I assumed I would continue to make the same payments, and would eventually receive paperwork with the new loan terms. Instead, my May payment came back to me, with no reason at all.

For a year and a half I tried to make payments, but they were all returned or randomly put into a 'suspense' account (the funds have never been returned to me). In November Citimortgage sent me a notice of foreclosure sale. I had tried, in good faith, to remedy the situation but I was jacked around, transferred, told contradicting information, and hung up on repeatedly.

It wasn't that we couldn't afford the payment, we have excellent credit and a strong income. The issue was the large amount of equity in our home; that Citi was attempting to strip by adding on late fees (even when the payment was on time), and other illegal fees. If Citi foreclosed on my home, they would have received approximately 200k in equity. Because the loan was in default according to them, I couldn't find anyone to refinance the house. My home had me hostage. I couldn't pay on it and preserve my equity, I couldn't sell the home, and I was forced to maintain it, even though I ended up moving out of state. In addition, I decided I didn't want to pay all of the inflated fees that I couldn't begin to decipher. Even the Citibank reps couldn't tell me what I owed. Every one I spoke with was equally confused as to how the numbers were computed.

Anyways, finding an ethical, intelligent attorney who 'got it' wasn't easy. But I persevered, and with a little help from above, I found an awesome attorney who filed a temporary restraining order (that was granted), and who is now dealing with the nonexistent securitization of the fraudulent loan. What no one tells you is that the bank that funded your loan at closing, never loaned you money. The money was created out of thin air. The bank then made money with breaking your loans into securities, assigning cusip numbers and placing your loan into pools (that were in violation of SEC rules).

You can't believe how sophisticated these Wall Street pirates are. You can't believe the woven tale they spin of transfers, deeds, securities, pooling, and other illegal acts; not to mention the TARP money spent to prevent this issue from coming to fruition (as well as QE2). If people truly understood the fraud that was perpetrated in their name, they would riot. I will do everything in my power NOT to use banks in the future.

Anyways PM me if you need any assistance. I will do anything in my power to empower my fellow man in hammering these corrupt bastards that should be in jail.

Go get them I doubt you win though/// Star and flag for trying though.... Better to try and loose then not try at all.

If you were dealing with people you might of had a chance but your dealing with the devil sir you know this... Don't waste to much money on a lawyer...

4rth line

Go get those sorry snakes!
third line.
apples are orange, oranges are red.
have no idea what prompted me to add those thoughts haha.


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If you had excellent credit and a strong income, why were you attempting a loan mod? You also say the payments were either returned to you or put into a suspense account. Where did that money end up? Did you ever try going to a bank branch to have them assist, or just make your payments there? Every time I have an issue with my bank (BoA), I usually go into the local branch and bitch and moan until I get it resolved.

reply to post by lostviking


I just wanted to star and flag your thread. I too am pursuing a lawsuit against a corrupt corporation. I am glad you have found an attorney, as everyone I have talked with wants so much money I can get no justice. As a result I had to file pro se and hopefully can obtain justice. I support your efforts. Do not give up ever. They will make you feel like you have no kind of claim nor case. However, the truth is on your side. 200k profit for a missed payment that is contrived is theft in my eyes. These corporations need to come unglued and uprooted. Good luck in your efforts, I have a neighbor down the road from me going through the same situation, is one month behind on payments, and cannot catch up and they want to take his whole house that he has had for nearly 15 years. I would not be sad if one day I woke up and we were told the system has collapsed and all the banks were closing.

Hey lostviking, glad you're going after the b@stards & best of luck.
One point though, you might want to check with your attorney about discussing your ongoing case in public. I think they'd tell you not to until after proceedings have finished. Citimortgage will pull every dirty trick in the book & could use this against you. You need to check asap.

Very best of luck.
HP

reply to post by peter_kandra


God-speed my good man.

Please do keep us posted on any new updates on your case. I am VERY interested in hearing the outcome.

Thanks for sharing.

S+F for you.

Wish you the best of luck with your litigation.

Depending on which state you're in you may have a pretty good shot as these common practices are finally coming to light. My understanding is that it the notary policies that determine which states it's easiest to fight back in

The stories I've heard from people personally, reflect what you're saying. If yoiu actually HAVE equity, it's not safe to enter any of these modification or repayment agreements. However, if you're underwater on your mortgage it could be quite adventageous to utilize the mods.

I am beginning to think that banks, for some off the wall reason,
are trying to get people's homes.

We are having one heck of a time with BoA.

And we have made every single payment on time since we bought our
home 18 months ago.

They have, at least 12, out of the past 18 months, screwed up posting
our mortgage payments correctly, putting it either in an obscure "miscellaneous posting" area
on our statements, or applying it bizarrely to the principal without paying the actual amount due,
then stating we haven't made our payment for the month...

We have online bill pay set up that autopays through our bank.
Therefore we have records showing all payments made on time to them, wired straight in.

We have to call, sit on hold for hours, (there is no local branch, as our mortgage was sold to them
before the ink was dry on the paper), and argue with some outsourced half-wit for another hour before
our account is credited properly and the late fees are taken off.

Then we get BS assurances that this "will not happen" again.

Until the next month. Or, if we are lucky, two months later....

We get threatening letters all the time.

Isn't this illegal???

We have better things to do with our time.

Don't they have more important things to do, like bother the people who are actually not paying their mortgage????

One of those banks screwed my sister out of her house too. I'm not sure of the details but it sounds a lot like your story - she made payments and they were holding them and not crediting them. Then she got behind and WHAM they took her house. She had not even been aware she was that far behind.

A year and a half or so later, they sent her a check refunding some of her mortgage payments that they'd never applied.

She lives out of town so I am not crystal clear on the details, but it just crushed her so bad. She went to a lawyer but there was no way she could get her house back no matter what she did- it was gone.
She's bought it for 40k and put about 90k into it. She didn't owe all that much on it. Her husband got hurt bad and out of work, she was crazy trying to tend to him - but the next thing they knew, they were homeless.

(Where she really messed up was not paying it off. I ain't doing jack to my house before it is paid off.)

Thanks for the replies. I am fortunate because Citi really messed up with the 'repayment plan' papers. I have never liked attorneys, and have had thousands stolen from me from bad attorneys, over my lifetime. However, my attorney actually emails me and reaches out to me when I contact him. I am shocked to have found an attorney with a soul.

I am asking that my title be quieted, and all funds that were taken from me and misapplied, be refunded to me. My attorney says that Citi will most likely not provide the information we have demanded, simply because they don't have it. The property is in Arkansas....where the recent MERS decision was once again upheld.
MERS Decision

My plea, is for people not to give up. There are some great resources for people including the websites:

Livinglies[/ url]

[url=http://www.maxgardner.com/]O. Max Gardner Bankruptcy Bootcamp

I have tons of information if anyone needs referrals to information regarding foreclosure or bankruptcy. Filing bankruptcy is a viable option to stop a foreclosure, and there are ways to work it to your advantage, like listing your home as 'unsecured', until the bank can prove it's standing (free home anyone?). United, we can destroy this beast that holds us in-debt from cradle to grave. But we must support one another.

I think that we create a Patriot bank that loans money based on the underlying asset. Refinances would be easy, and new loans would be based primarily on the value of the asset, and secondly by the credit of the individual. There was a time when people actually had to put money down on a home or car mortgage. This down-payment made the buyer have some 'skin' in the game. We need to start lending the right way. Interest rates should never exceed 5%. I'm just rambling, but it isn't rocket science. We should be able to emulate the older banking traditions.

Glad to hear you are figuring it out.

Even if this isn't happening to people right now, a hypothetical thread, or more posts of what steps to take if someone gets in your situation would probably be wise. It sounds like Step 1 is find a good lawyer.


reply to post by lostviking

reply to post by hadriana

Hi Hadriana....why didn't she file bankruptcy? Either a Chapter 13 or a 7? People who file bankruptcy, usually can improve their credit immediately upon discharge (and there are ways to have negative information removed). Bankuptcy is a pretty sure way to save your home, as long as you have a consistent income of some sort.
A bankruptcy filing immediately invokes an automatic stay, where the bank cannot foreclose on your home, even if the sale is the next day!

reply to post by thegoodearth

What BOA is doing is illegal. They are now demonstrating bad faith in misapplying payments. Document everything, and go see an attorney immediately that provides free consultations. Usually a few letters from an attorney is all it takes to stop BOA from doing this type of thing.

reply to post by lostviking


This may seem trollish, and rude and insensitive, but please pay cash next time you want a home, if you have not noticed, the banking industry as a whole is corrupt, I'm sorry it took you this long to find that out.

I wish you good luck, and no more finance.

reply to post by lostviking


Thanks.
Very disruptive to the flow of life.

I just try to wrap my mind around why...

We pay the darn bill, every month for crying out loud.

Originally posted by HelionPrime
Hey lostviking, glad you're going after the b@stards & best of luck.
One point though, you might want to check with your attorney about discussing your ongoing case in public. I think they'd tell you not to until after proceedings have finished. Citimortgage will pull every dirty trick in the book & could use this against you. You need to check asap.

Very best of luck.

HP

Might be a good idea to be cautious, but I can still PM people the pleadings filed. I doubt my situation is unusual though. I could be anyone.

Well you can put in your case the homestead declaration act.

Look it up its helpful.

reply to post by wiredamerican


You got that right Wiredamerican! Believe me, if I do get a new loan, it will be on an inexpensive home and I will pay it off as quickly as humanly possible. In addition, I will look for an owner carry situation, triple the payments, and own the property outright (except for taxes of course). I will never again buy a mini-mansion, the expensive European car or finance a lifestyle. I have learned frugality, the power of having less to maintain, and the freedom brought on by minimalism.

Banks are potentially in big trouble, because people are coming around. I can be equally happy on a houseboat. People are beginning to understand that when you consume, you are owned. The materialistic mentality of the 80's and 90's is gone forever. I think we have found that it doesn't take much to be happy. Good sheets, quality over quantity, and real food. Our decisions will impact the big builders, agrifarmers, and drug companies. We are going back to a time of sanity.