Homeowner Revolution 2010

One West Bank, formerly Indymac, is foreclosing on thousands of homeowners across the Country and they don’t even own the notes. In a Country that appears to have such a strong Judicial system one must wonder how the hell this is happening. I mean seriously how are thousands of homeowners being thrown to homeless and the bank that is foreclosing on them has NO legal standing to do so? The Judges are granting thousands of foreclosures daily in America without even checking to see if the plaintiff in fact owns the note and has the legal right to foreclose.

If you are a homeowner in foreclosure and One West is the Plaintiff, the one that is foreclosing on you, and you have applied for a Loan Modification chances are that you received a letter from One West that states…

In reviewing your loan for a possible modification, we have determined that your loan does not qualify for HAMP due to our contractual agreement with the owner of your loan.

Daaaaa… they are admitting they don’t own your loan. Also if you check out the “Contract” that they are referring to “The Pooling and Servicing Agreement” It clearly states that the owner is DEUTSCHE BANK NATIONAL TRUST COMPANY and that Indymack/ One West is actually listed as the Seller and Master Servicer. Oh and go ahead and check out the assignment for your mortgage, you know the one that says that your loan was assigned to Indymac FSB from Indymac Bank.. Go ahead I’ll wait…. Now find the one that says that your mortgage was assigned to the truthful owner DEUTSCHE BANK NATIONAL TRUST COMPANY. What’s that you don’t have that one? EXACTLY my point. Can someone say FRAUD!!!!

One West CANNOT legally foreclose since they are not the owner yet they are getting away with it by the thousands.

It’s like this…

If I give you a check and you endorse it and make a copy of it. Then you give the check to someone else and go to cash the copy you will not get very far will you? The bank will NOT cash the copy!! Why will they not cash the copy? Because lets say they do and 30 days later your friend cashes the check well.. you just had your account debited 2x for the same check.

That is the exact thing that can happen if the Judge grants a foreclosure to the person who is NOT the owner of the original note. Years down the line the person that holds the original can come collect from you again. They have the original with your signature of endorsement ( just like the check) so they have every legal right to collect on their note and BOOM you have a judgment on you for the amount of the note even though the Judge just so kindly gave your home away to the one who had the copy.

I suggest that every homeowner that is facing foreclosure with One West check your paperwork and DEMAND that they produce the original note in court. The one with your blue ink signature. Only the one who owns that ORIGINAL note has the right to foreclose on you. Demand it!!! Fight for it!!!

Carol Stinson