Foreclosures Halted To Investigate Lenders

Texas Attorney General Greg Abbott ‘s office is calling for a halt to foreclosures as it investigates some reported shady practices on the part of lenders. Twenty-seven companies that hold notes on homes in Texas are getting letters demanding that they identify any employees who might have been involved in so-called robosigning. That’s the practice of signing thousands of foreclosure documents without reading them or reviewing their contents. Attorney General Abbott’s office wants all foreclosure practices stopped while his office investigates, including selling foreclosed properties and evicting people living in those properties. JP Morgan Chase and Bank of America have already announced they’ve suspended foreclosures as they look into irregularities. The Texas AG wants answers from the twenty-seven lenders by October 15th.


One Comment

  1. coretta.jackson says:


  2. BEVERLY SIMMS says:

    On Feb. 2, 2009, I called Chase Bank informing them that I was unemployed and didn’t know when I would be able to make another house payment. Up until that time, I was current on all previous payments. The man I spoke to said he appreciated the fact that I didn’t wait until I was behind in my payments to call and he would see if I qualified for their Homeowners Assistance Program/Loan Modification. After getting the pertinent financial info from me, he said I did qualifiy and would submit my info to the Forbearance Dept. He told me I would be contacted by the analyst assigned to me within a few weeks, and if I didn’t receive a call, to phone Chase and get the name and no. of my analyst.

    In March, I contacted Chase because I hadn’t received a call. I was given the name of my analyst who would be handling my case. I called her and her voice mail instructions were to leave “one” message, and do not continue to call and leave multiple messages. Her voice mail also said that due to the number of applicants she had to process, it was going to take longer for her to return my call. In the interim, I was receiving “Notice of Defaulted Mortgage” statements from Chase regarding the overdue payments. They finally got me set up to start making payments in June 2009, with my new monthly payments, which was about $40.00 more than I was paying previously. I was told that I would receive the finalloan docs. within 2 or 3 weeks. I never received the final docs! I kept calling each month asking when was I going to receive the final docs. and they kept telling me that they (Chase) was seriously backlogged and to keep making the payments. I kept telling them that I was receving threatening foreclosure calls and mail. They assured me that I was in no danger of losing my home because I was in the Loan Modification Program. Each payment that I made was with a Cashier’s Check and Certified Mail showing proof that they did receive the payments.

    I never received the final loan docs and in March 2010, I received a letter from an attorney representing Chase stating that my home had a court date for May 4, 2010 for foreclosure! As it turns out, they dropped me from the program in January 2010 and didn’t tell me. Everything they said wouldn’t happen did happen. They literraly lied to me about everything! I moved out of my new home of three years on May 1, 2010, and I was still making payments. I am seeking representation for a law suit against Chase for damages, etc. My name is Beverly Simms, my phone is 214-907-5282, my email address is I hope you can refer me to someone who can help me in this matter. Thank you!

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