Here's a blurb that I found on the web:
Lone Star Funds Lone Star Funds is a private equity firm that “seeks investment opportunities in developed markets that have suffered an economic and/or banking crisis.”24 The firm submitted winning bids for every pool offered in the June 2014 DASP auction, with a weighted average bid of 77.6 percent of the properties’ value.25 The 2014 fund that invested in the DASP loans, Lone Star Fund IX, has an investment period of 40 months.26 In July, Lone Star bought $500 million in nonperforming residential mortgages from JPMorgan Chase & Co.27 Lone Star Funds owns Caliber Home Loans, a full-service mortgage company and special servicer28 led by Joe Anderson, former Senior Managing Director at Countrywide Financial Corporation, the poster-child of the predatory, discriminatory29 subprime mortgage boom and overheated, destructive mortgage-backed securities markets that fueled the current housing crisis.30 Standard and Poor’s Ratings Services (S&P) has ranked Caliber Homes as Above Average as a US residential special and subprime mortgage loan servicer.31
source: http://homesforall.org/wp-content/uploads/2014/09/HUD.DASP_.RTC_.v15.pdf
So LSF9 Master Participation Trust is a pool of distressed mortgages put together by Lone Star funds. The mover and shaker behind Lone Star Funds is a billionaire named John Grayken. LSF9 ws the high bidder in an auction of $3.8 billion in loans that the FHA had insured. According to Bloomberg News:
June 20 (Bloomberg) -- Lone Star Funds, the private-equity firm founded by billionaire John Grayken, submitted winning bids for $3.9 billion of soured home loans sold this month by the Department of Housing and Urban Development.
It was the first time that a single bidder won each of the pools of loans offered in such a sale of debt previously insured by the Federal Housing Administration, HUD said today in an e-mailed statement. Dallas-based Lone Star’s bids on the 16 pools auctioned on June 11 averaged 77.6 percent of the estimated current prices of the homes and 65.8 percent of the unpaid loan balances, HUD said.
Source: http://www.bloomberg.com/news/articles/2014-06-20/lone-star-wins-3-8-billion-of-bad-fha-loans-at-auction
What this means is that if LSF9 bought your mortgage, they likely only paid $65.8% of the loan balance which was 77.6% of the value of the house. (You see, these loans were upside down, but they aren't based on what Loan Star Funds paid. In other words, Loan Star Funds and its subsidiary has room to cut you a deal on a modification and still make money. Will they? That's going to be up to them. (This also means that the FHA may has paid the original owner a big chunk of money that came out of your mortgage insurance. Assuming the new owner doesn't discount the principal of the loan, the benefits of this write-down go to the rich investors behind the Lone Star Funds. Not only that but if you work out a deal to get the loan caught up at the previous rate and terms, Lone Star gets a windfall. Let's say you had a loan at 4% APR, if Lone Star only paid 65.8% of the principal, that's an effective rate of over 6%. If you had an 8% subprime loan, that's an internal rate of return of over 12% for Lone Star. Elizabeth Warren is right, the game is rigged.)
A large portion of the loans in LSF9 appear to be from Chase, bought in a $500 million bulk deal.
My client's loan was a Citimortgage loan. Based upon the information that I've gathered, it appears Citimortgage sold its interest to LSF9 Master Participation Trust while the loan was subject to a foreclosure lawsuit originated by Citimortgage. Instead of discontinuing the lawsuit, or substitutiong LSF9 Master Trust as a plaintiff, Citimortgage has continued the lawsuit under the representation that it is the owner of the loan without notifying the court that the ownership has changed.
If you are in the midst of a foreclosure proceeding and your servicer gets changed to Caliber Home Loans, it may mean that your loan has been sold to a Lone Star affiliated trust. If that happens your foreclosure case should not go through under the previously filed paperwork. At the very least the change in ownership should be disclosed, and it may trigger another opportunity to modify your loan. It also might be an unfair debt collection practice by the firm that is filing the foreclosure suit. If you have this happen to you, contact me or find a local NACA consumer attorney near you at www.NACA.net.
UPDATE 3/14/2017
Since I wrote this blog post a year and a half ago, it has been by far my most popular post, with over 14,000 hits. I have also gotten emails from lots of frustrated people trying to deal with LSF-9. Most of these have either been people who are either trying to buy LSF9 properties or who are facing foreclosure on an LSF-9 mortgage. I have this to say about each category:
IF YOU ARE FACING FORECLOSURE ON A MORTGAGE OWNED BY LSF9 Master Participation Trust, or maybe LSF8 or LSF10 or whatever, get advice from an experienced consumer lawyer IN YOUR AREA. To find one in your area use the National Association of Consumer Advocates' Find an Attorney page. I can't represent you if you are not a resident of Indiana.
IF YOU ARE TRYING TO BUY A PROPERTY OWNED BY LSF-9 AND CAN'T FIND ANYBODY TO CONTACT, good luck, I can't help you. You can write to Caliber. You can write to the lawyer handling the foreclosure case. You can write to Lone Star Funds, the parent company, at the address below which I took from their website.
Since I wrote this blog post a year and a half ago, it has been by far my most popular post, with over 14,000 hits. I have also gotten emails from lots of frustrated people trying to deal with LSF-9. Most of these have either been people who are either trying to buy LSF9 properties or who are facing foreclosure on an LSF-9 mortgage. I have this to say about each category:
IF YOU ARE FACING FORECLOSURE ON A MORTGAGE OWNED BY LSF9 Master Participation Trust, or maybe LSF8 or LSF10 or whatever, get advice from an experienced consumer lawyer IN YOUR AREA. To find one in your area use the National Association of Consumer Advocates' Find an Attorney page. I can't represent you if you are not a resident of Indiana.
IF YOU ARE TRYING TO BUY A PROPERTY OWNED BY LSF-9 AND CAN'T FIND ANYBODY TO CONTACT, good luck, I can't help you. You can write to Caliber. You can write to the lawyer handling the foreclosure case. You can write to Lone Star Funds, the parent company, at the address below which I took from their website.
Lone Star Global Acquisitions, Ltd.
- Lone Star North America Acquisitions, LLC
2711 North Haskell AvenueSuite 1700 (and Suite 2150)Dallas, Texas 75204USA214-754-8300
m&t began foreclosure proceedings on my house, and on the SAME date that the notice of foreclosure and sale was signed by the judge....my mortgage loan was sold to Caliber/LSF9 Trust...stating m&t was still the servicer. Now I have a sale date and I am wondering how this is all possible!!
ReplyDeleteUnknown, Please send me an email to hoferlawindy at gmail dot com and leave your name telephone number and email address. I may be able to help you. Steve Hofer
DeleteWe are going through the same thing. HFC was foreclosing on us and we stayed it with a bankruptcy that was discharged. Worked out monthly payment with HFC and was paying them when Caliber homes sends a letter saying they bought our mortgage and we owed $22,000.00 to them to get back on track. I then started working out modification with them only for caliber to say the paperwork was never right( except it was always the exact paperwork they asked for that I sent) so they foreclosed on us. I again filed bankruptcy to stay the sale date.I am now trying to get another modification worked out through some attorneys. Ridiculous. We have lived here 24 years!!
DeleteLeslie, Nearly same situation here. My husband had a major illness in 2011. We filed a Chapter 13 while we were still being serviced by HSBC in 2012. We had a financial hardship and missed a few mortgage payments in 2013, then suddenly HSBC was worried about our back real estate taxes which were covered by the Ch 13. We got a bill (with a disclaimer saying if we were covered by Ch 13 then we were not held liable), then a month and a half later the mortgage is bought by LSF9 Master Participation and being serviced by Caliber. We then got a bill saying that we owed $22,000 and any amount under that would be escrowed. Then we got a letter saying that they had paid off our real estate tax (covered and being paid off by the Ch 13, mind you) and they then tacked that amount (They say $7000, where they got that amount is beyond me since I owed $4000) onto my "arrears" I have refused to pay because I DON'T owe this money! I got a Right to Cure in the mail wanting $22,000 (always this amount! It's odd) by the 30th or else. In the letter, they claim I am behind x amount of months. They totally disregard the amount sent to them via the trustee and 8 payments that I myself made, an amount totaling around $10,000. My Bankruptcy lawyer blows me off when I tell him these things. My real estate attorney told me to talk to the bankruptcy lawyer. I am at wit's end. I have lived here 25 years and don't want to leave my house. I feel like another Chapter 13 is now my only option. I hope there is way to prove I owe less than they are trying to collect. HAMP was no help - they suggested a short sale because "excessive forbearance". The thing is, if someone would look into it, they would see that the amount is NOT as excessive as Caliber likes to say it is!
DeleteI was searching for loan to sort out my bills& debts, then i saw comments about Blank ATM Credit Card that can be hacked to withdraw money from any ATM machines around you . I doubted thus but decided to give it a try by contacting { cyberhackingcompany@gmail.com} they responded with their guidelines on how the card works. I was assured that the card can withdraw $5,000 instant per day & was credited with$50,000,000.00 so i requested for one & paid the delivery fee to obtain the card, after 24 hours later, i was shock to see the UPS agent in my resident with a parcel{card} i signed and went back inside and confirmed the card work's after the agent left. This is no doubts because i have the card & has made used of the card. This hackers are USA based hackers set out to help people with financial freedom!! Contact these email if you wants to get rich with this Via: cyberhackingcompany@gmail.com ..
Deletethis is completely nonsense,, FRAUDulent DO NOT SEND EMAIL OR MONEY FOR A FAKE DEBIT CARD..
DeleteUnknown, Please send me an email to hoferlawindy at gmail dot com and leave your name telephone number and email address. I may be able to help you. Steve Hofer
ReplyDeleteSame happen to me, today I have received a letter from LSF9 MASTER PARTICIPATION TRUST saying that they OWN my loan and not WELLS FARGO what can i do Iam in the midle of a TRIAL PLAN to modify my loan and Ihave to pay my 3er payment to get my new loan modification, a friend from a bank told me that they sold me mortgage loan and never gonna get a new modification. ? Any help please.
ReplyDeleteMy email is tony32478@msn.com please any reply. Thanks.
ReplyDeleteTony, I am in the same boat. What was the outcome for you?
DeleteHi Steve,
ReplyDeleteI am in New York. My house has been in foreclosure for over 5 years now. The bank has been very laid back in pursuing in the foreclosure as well as the sale of the property. I had put the house up for a short sale and currently someone is interested in buying but they are negotiating with the bank on the sale price.
I received a letter in the mail a few days ago that my my mortgage loan was sold to Caliber/LSF9 Trust and Wells Fargo was still the servicer.
Is there anything I can do to negotiate with this new company t waived all the past due amount as well as negotiate a buy down on the mortgage.
Please let me know
Hi unknown, you can always apply for mortgage assistance (modification, short sale etc.); but in most cases whether to grant it is discretionary for the lender. As I pointed out in my main post, LSF9 Master Participation Trust tends to buy these loans at a large discount. That means that in theory they have the ability to structure modifications with a reduction in principal. I am hearing through the grapevine that modification offers with reduction in principal are rarely if ever granted by Caliber (For LSF). Because these loans were, in essence, subsidized by HUD, I think a good way to put pressure on your lender is to send a letter to your congressperson, telling your congressperson that it isn't fair that the private equity bigwigs get to buy the loans at a subsidy, but you the poor homeowners don't get a subsidy when trying to save your home. What you are trying to do is to get your congress person to send a letter to Caliber asking them to look favorably on a modification of your mortgage. Just maybe that will get you special treatment. Also, don't forget to complain to the Consumer Financial Protection Bureau.
DeleteI got same letter from lsf9. WF still my servicer. I am also preparing to make 3rd trial payment before modification offer in attempt to avoid foreclosure. I had to file chptr 13. Don't know if this is going to be good or not for modification offer ???? Thanks for info on lsf9 Steve !! Kelly in NJ.
ReplyDeleteKelly
DeleteI don't check the message comments very often, so it's January when I'm reading this. Did your modification go through? SH
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ReplyDeleteThis comment has been removed by a blog administrator.
ReplyDeleteIm working on a case with this trust claiming ownership as well. The loan originated with WAMU in 1999 and was serviced by Chase since 2008. I got a BS response to loan mod and the court sanctioned Caliber $750. Caliber sent out a more detailed letter and raised more questions than answers. Specifically claiming that the loan is not HAMP eligible- complete hogwash. I found an asset purchase agreement in the Res Cap ( GMAC) bankruptcy with Lone Star buying the GMAC loans. It wont help in my case but is worth looking at bc section 6.22 sets out specifically how loans are to be considered for modification. If this exists in the GMAC passet purchase agreement it could very well exist in the agreement with Chase. If anyone has the agreement with chase I would like to see it. I also want to share the GMAC loan agreement if anyone is interested. It was file under oath in the federal court so I have no reason to doubt its authenticity.
ReplyDeleteThanks for the info. I think it will be useful to some folks. SH
DeleteCan you provide me with the agreement? I am in a similar situation with Caliber giving me the run around about HAMP
DeleteIm working on a case with this trust claiming ownership as well. The loan originated with WAMU in 1999 and was serviced by Chase since 2008. I got a BS response to loan mod and the court sanctioned Caliber $750. Caliber sent out a more detailed letter and raised more questions than answers. Specifically claiming that the loan is not HAMP eligible- complete hogwash. I found an asset purchase agreement in the Res Cap ( GMAC) bankruptcy with Lone Star buying the GMAC loans. It wont help in my case but is worth looking at bc section 6.22 sets out specifically how loans are to be considered for modification. If this exists in the GMAC passet purchase agreement it could very well exist in the agreement with Chase. If anyone has the agreement with chase I would like to see it. I also want to share the GMAC loan agreement if anyone is interested. It was file under oath in the federal court so I have no reason to doubt its authenticity.
ReplyDeleteHi, I would really like to see a copy of the GMAC agreement. Hope you're checking in here. Wish I could share Chase back with you. These agreements seem to be secret. Gotta wonder why is that. I sent a FOIA to HUD to get a copy and it was denied. Use this email: TabbyDollar at aol. Hope you check in here again. Thank you.
DeleteHi Steve
ReplyDeleteMy mortgage company was Chase/FHA it was sold to Caliber Home Loans and it was in foreclosure for 2 years prioir and I had a sale date I filed a bankruphcy chapter 7 only to stop the sale date I then applied for a MOD through NACA and once the paper work was done for the MOD I should only have been paying 1200.00 but because Caliber does not have a contract with NACA they didn't honor that amount and they forced me into a interest only loan of 1634.63 for 5 years that I can't afford I asked for an appeal and they said that appeal would not change it stands. So I'm struggling with this trial period of the MOD just to hold onto my house after that I don't know what I'm going to do I feel like I'm being robbed correct me if I'm wrong but I was told that LFS9 was investors and once they purchase your property they turn it in to stocks I called Caliber and asked for a copy of my note to see who actually holds the note I have Secretary of Housing and Urban Development US. Bank N.A. as Trustee for LSF9 Master Participation Trust and Mortgage Electronic Registration Systems Inc. as Nominee Freedom Mortgage, so who really holds the deed I know it's some illegal thing going on but I can't put my hands on it maybe you can help me out
Monica, since you are in a Chapter 7 Bankruptcy talk to a foreclosure defense attorney that have a knowledge of bankruptcy to see if you have time to claim your mortgage as unsecured debt; if your loan has been actually been securitized a good foreclosure defense attorney may be able to assist you. Many homeowners declare Chapter 7 Bankruptcy to Stop a Foreclosure by declaring their loan as an unsecured debt. If you know your loan has been securitized (read the Foreclosure Defense Handbook), and can articulate this effectively both to your attorney and/or the bankruptcy Trustee, then this can be an effective strategy to save your home from foreclosure.
DeleteYou see, once you declare your loan as an unsecured debt, your “lender” will object. Once they object, you should write to your bankruptcy Trustee to force them to respect the US Bankruptcy Code 3001(d). This is especially effective if you have a securitization audit, as this proves that your loan has been securitized. Once a loan has been securitized, it forever loses its security because there is no one party who owns the promissory note. Again, if you read the free ebook by Vince Khan called “The Foreclosure Defense Handbook”, you will be much better informed and educated about how to defend yourself in bankruptcy to stop foreclosure.
Once your lender is unable to provide proof of perfected chain of title, then they are listed as an unsecured creditor. Once your Chapter 7 bankruptcy is discharged, the loan is also discharged with it and this will stop foreclosure. This means YOU NO LONGER OWE THE BANK ANYTHING. Checkout the link below for your own education:
http://www.consumerdefenseprograms.com/does-bankruptcy-stop-foreclosure/
I am not an attorney and just wanted to point you in a direction to hopefully get you some helpful education on your situation. What I noted above was from one distress homeowner to another.
Has anyone here used this strategy effectively VS Master Trust LSF9? Here is my situation: March 14, 2017 at 2:08 am Thank you for this amazing article. I am currently and have been facing a loan foreclosure on our home from U.S Bank Master Trust LSF9 that you describe. All of the paperwork is different, some say U.S Bank, some say Caliber Home Loans vs. Robert Valdez, and some say LSF9 Master Participation Trust only. The reason i am so upset is b/c I made sufficient funds to build my own dream home at the time $1.2M and made perfect payments to CHASE for 8 years, AS with all of us hard times hit, we fell behind, and although the real estate market has rebounded, we have a bit of equity in it but I want to keep it and after 8 requests for modification they actually want to set a date coming up for non-jury trial. All 8 modifications were denied. 7 without reason. I was unemployed for 3 years and we fell far behind but now things are back on track. The loan was at 6.75% and I offered to pay $250K in past due payments if they could trim off a bit of interest. Even their own attorney said that they would have no one they could talk to in order to present that offer. They stated a short sale was OK, or deed in lieu, but not working with me to reduce any past due interest or to assist staying in the home. They insist on going to trial. I realize the scam that this seems to be. Do I have ANY RIGHTS AT ALL as they have yet to provide ANY discovery AND does anyone know legal council that has defended against LSF9 with experience? I do not think our attorney has the knowledge or experience. I am prepared to fight b/c I have equity still and its enough that the big banks hide behind this still at the peril of regular people. I am seeking an attorney that defends specifically against this LSF9 Master Participation Trust. Robert Valdez ny12713@yahoo.com
DeleteSteve, thanks for the great feedback on this company.. My question is: I am looking to bid on a LSF9 Master Participation Trust foreclosed home. This is a public auction on the 'courthouse steps'. Is there any concerns or precautions I need to take? Thanks, Bill
ReplyDeleteBill, don't be surprised if the borrower claims to have been in a temporary modification with either Caliber or a predecessor. I believe in most cases you can likely honor the mod terms and still make money.
ReplyDeletehi Good to know there is honest folks that care still in this Country,,, my loans has been the biggest most confusing fraudulent deal, of most,,, I been fighting this for over 5 years now,,, former boa, loans,,, from Countrywide, etc,,, jtaccino@hotmail.com,,,
ReplyDeleteHi Steve,
ReplyDeleteHow can I find out if my loan is in the LSF9 trust?
Thank you
Search for the address on the County Assessor's web page. The owner listed is who owns the loan. LSF9 is listed on a property that I am looking at to buy.
Deletehello all,,, I just got my papers for a new twist, Caliber offered me a 5 year interest only stip mod, ever hear of that,,, this comes from the hierarchy, not HAMP, HARP, ETC ETC, as they say im not elidg. due to my income,,,ive been fighting since 2008, here, and its been over 5 years since my last payment, and am now perplexed, as to what to, do. keep in mind 1 thing, that once your loan has been securitized, meaning sold into stocks,,,,, who actually owns it, except crooks, who try, and can legally foreclose, if I can help anybody here, let me know, jtaccino@hotmail.com
ReplyDeletewe had the same offer from caliber a number of times. hsbc sold us to them after saying they were going to accept a mod with us...they dumped us holdings and 1st we were notifued tha as of sept 30 2013 lsf8 (not 9) owned our loan and caliber was the new servicer. then 2 weeks later caliber sends another letter saying that VOLT NPL 2013 (i think i left a number or letter out of that name but it is from memory i know it was VOLT npl in some order and 2013. ) so then the 1st statement comes from caliber in FEB 2014! and lo and behold, even though it was over 4 months later, the amount Caliber claimed was due was actually MUCH LOWER than what the last statement HSBC sent us said. (hsbc had by then refused to speak to us over the phone claiing we had A CEASE AND DESIST order on the account (we absolutely did NOT have one and did not even consult an attorney until 2 yrs later) and they refused to take ANY payment other than the amount they claimed was due which included a TON of rip offs.. let's see, we got in 2015 and 2016 checks from 2 class action suits we were apparently parties in against HSBC for their scam with forced placed hazard and flood policies and 1 letter with a 200$ check said to note that they showed we still are showing as owing and were incorrectly charged over 5k to HSBC, another shows roughly 4k in additional policies. Next up, I sent multiple QWRs to HSBC and finally got acknowledged and was sent a copy of the account transaction history. I was SHOCKED to learn that for YEARS HSBC had been LYING and putting in our account that we were in a repay plan agreement... literally every month for years. (they told us at the time that their policy was to only allow 2 repayment plan agreements (where they split up any late or missing payments over the coming 3 months or similar.) per 24 month period. yet they showed us in one for an ENTIRE 24month period and then some... and we were NEVER advised, never agreed etc. Now also during that time we applied for the hardest hit fund and we were told we were in the underwriting process and then it would be funded... next thing we know the company doing our hardest hit stops returning calls, and shortly after HSBC sold us (within the same 30 days) then we started getting emails and calls from a totally new company telling us to apply for the hardest hit fund over again but it was already 6-8 months after it was to be funded and 3 months before the new company began contacting us we had income return to pre-bubble burst level and weren o longer eligible for the fund's assistance. To complicate things, when HSBC was lying and coding our account as being in a RPP, they took every payment we made and would apply it to the account as principal and interest, then reverse the payment and apply it as interest only, then tack on "DEFFERED INTEREST" by the thousands and "Corporate fees" by the thousands- never once a late fee" because our agreement did not provide for late charges. then as if it wasn't messy enough trying to get them to refund us the well over 5k in forced policies that were not required bc we had a private hazatd policy and we were no longer in a flood zone (we were not escrowed we paid our taxes and ins ourselves privately) I went thru and found thousands of dollars in payments on a 600$ monthly mortgage that were missing but we have the western union receipts for the payments. everytime we made a LARGE payment of 3k or more to try and pay ahead and down, NONE of the payments show on the account history from HSBC. 1 payment we have the receipt for alone that doesnt show up is for well over 5k..
Delete.remember ..$600 a month p&I! So then to make things even more nightmarish, HSBC began sending us insane statements that LITERALLY changed every month. only this week (4 years later!) did I notice what they did! Every month after they changed their name.. i think it was just hsbc and then it was hsbc mortgage services and then something like hsf mortgage services etc) but after the name change- right around when they started dumping US holdings- the statements began to change - we went from having no deferred interest to having 4k in one month on a new statement. the statements would say: P&I: 6XX.XX, "STANDARD PAYMENT" : (this amount changed EVERY MONTH so this is an example!) $1107.00, then "Other fees" : $200.00, total amount due (notice no late fee stated, no past due payment, etc on this 1st one.) total payment due: $13XX.XX... so of course i called and emailed etc and faxed to no avail .. BTW the amount added to make the "standard payment" was NOT money they were adding to cover the recouping of forced policies bc that amount was listed in another column as not being collected yet but "owed"... they refused to speak to us as I said bc of the fake C&D they claimed to have. so as the months went on I explained to them, listen, we can not make double or soetimes 2.5 payments when there was no explanation and we were still trying to get a refund on the forced placed policies, missing payments credited etc. When Caliber took over I was actually relieved at 1st bc they had a diff website and it had a very asy process online to get your loan modified and they were offering principal reductions and all that at the time.. but less than 3 months later by the time we got our 1st statement and our account info, the website and company name were changed (Vericrest) and that online mod option was gone..well the program they were using with a 3rd party to streamline was gone and they were only offering crappy mods. so I called, emailed, faxed and mailed them a letter xlaining what HSBC had done and i was told they tried to look into it but the extensive codes HSBC used were very confusing and the transactions being reversed, reapplied, removed, etc made it impossible for the person in the notes of our account who had apparently tried but i was assured they were still working on it. then they began to send us preapproved trial mod letters (unusual to preapprove with NO income docs, no taxes, NOTHING) so I figured they must have figured out the errors and were just trying to cover it up and get us to sign a new loan agreeing we owed money we don't. the 1st statement as I said from caliber was basically about 10k LESS than the last statement from HSBC despite hsbc's last statement being months before the one for less from caliber. apparently when hsbc did the final accounting they went back in and literally REMOVED every charge of "corporate" or "other fees" at least 1 time (some were charged more than once the same month) and so from that alone I thought we had a chance at getting someone honest to fix it- to see we had been induced into default with fraud in servicing. alas caliber would ONLY send us the preapproved mods and nothing else. so we tried SEVERAL times in desperation to complete them, each time we would send the paperwork back signed agreeing to make the payments on time (1 or 2 sheets of paper.. very simple) and then we would make the 1st payment well within the 30 days as required and everytime either after the 1st or 2nd payment we would get notified that they supposedly didn't receive the paperwork (not true since they would Not accept ANY type of payment without the signed trial doc on file!) but they would say we had to wait 30 to 60 days for another offer to come and then try again.. this went on maybe 4 or 5 times.
Deletefinally we completed a 3 month trial and were so excited to finally get things back on track until the "permanent mod" paperwork came and everything went downhill.. the paper work was a 5 yr interest only stip to mod with about a 25k balloon due at teh end of the 5 years. additionally the docs stated the interest rate was being LOWERED to accomplish this payment but in FACT it was being raised .5%.. additionally the docs stated that of the amount past due and owing ZERO $ were from Ancillary fees such as forced placed policies, corporate fees and the like... in fact over 10k of the 25k was from those fees. lastly they had not credited us for the policies we proved were wrongfully placed nor for the payments we proved were made and not accounted for. I called caliber and got a nice lady who freaked out and said Oh no omg dont sign that paperwork, we accidentally sent you another preapproved packet. I explained they absolutely did not because this was a full 6 page doc that laid out all new terms etc and was nothing like the 2 page preapproved ones we had gotten. she still stated that because of the errors, it was not the right docs and to wait 30 to 60 days and we would receive the right paperwork. WE NEVER received anything else until a few months after when we were served foreclosure paperwork. We then hired a real bad lawyer that was reprimanded by the FL supreme court.. so we had to hire a new firm and pay again. the new firm has been able to understand all the details and defending us well thus far but they have told us that the judge may not even look at the fact that HSBC was breaking the agreement and making our payments interest only then charging penalties and deferred interest etc, also judge may not "even want to hear" about the over 10 k in missing payments or the forced policies that HSBC settled and or lost the class actions regarding... so basically the judge may not even care that we were being wrongfully billed double payments or more, then having our payments applied to interest only (on a 4.25% fixed rate loan) and stacking thousands in fees on us while simultaneously stealing our payments (one code used by HSBC literally says it means "investor sweeping of funds, investor dump screen." and 1k was removed from our account without a trace on that instance.) so the judge may not care that we actually were OWED money to us, were paid ahead by a minimum of 6 months (not counting all the money due and refunds owed to us) at the time they began refusing to accept payments, claimed default and sold the loan. Now here's the kicker. in our case, the entity suing is supposedly US BANK NA ( we were never advised of any transfer to them and until after the foreclosure nothing was on record with them either.) additionally the "original note" they present in the case is not on file with the court at all. and honest to God it is a full blown forgery. Our original loan was with Accredited home lenders and our 1st payment was made with HSBC who we were with all the way for 10 yrs until caliber took over.
ReplyDeletein 2007 hsbc tried to wrongfully foreclose us and actually filed but subsequently retracted/ requested it to be withdrawn bc we had actually been paid ahead 3 months. interesting to note is that in that case filed by hsbc in 2007, they state that they have "lost or destroyed" the original note and documents. they never reestablished possession before having the case withdrawn. my question was how could they sell something they lost or destroyed.. 6 yrs after they claim to have lost or destroyed it? our lawyer also pointed out that since we were notified by caliber (also named as attorney in fact for us bank and LSF8 (confusing how US bank AND LSF8 master trust both own the loan!?!) that VOLT 2013 nlp or whatever owned our loan AFTER LSF8 MPT was the owner of record, we dispute the validity of their claim bc it contradicts their own official statements. further, the amount claimed owed due by caliber in 2016 was only 2k more than what HSBC claimed was owed at the end of 2013.. how could that be with basically 2+ yrs of unpaid/ unaccepted payments at a total rate for P&I alone of 8k (plus by this point caliber demanded escrow and we had legit forced placed hazard of 1800 a year and they took over paying our taxes even when we did...so the total should have been a minimum of 20k MORE than what HSBC claimed, IF both companies were using accurate billing and following the correct servicing guidelines, etc... so that alone i was hoping would be enough to get anyone to listen and just fix the freaking errors but nope..
ReplyDeletenext month we finally go to court.. 15 minutes is what we get to explain a 9 year battle of being ripped off and about 3.5yrs of refused payments. here's the worst.. the loan shows as paid off on our credit. I feel so scammed.. we may lose this home just because HSBC was scamming while they were laundering money for the drug cartels (true story ..google it) all I want is for Caliber to adjust what HSBC did wrong, calculate our missing payments and the added interest billed bc of the principal not paid down, as well as pay us interest on all tthe funds inappropriately reversed, stolen, missing, applied incorrectly, and still being charged, then credit the account, calculate what remains TRULY owed after that and agree to wipe half away because of the fraud and dragging us thru the mud for all these years which 100% made health issues worse... and then reinstate the loan with the exact terms we have. I think that is fair and it is less than what they would ask for if the tables were turned and they were actually correct. because they induced this why should we have to pay extra interest or fees when we were not even in repayment agreements we were paid ahead?! I have asked our lawyer to reach out to the other side and ask for as much to be done but we will see. there is other more damaging information and documentation that we have- thank GOD i was a pack rat and saved EVERY single thing either company EVER sent us. Honestly we even thought about accepting the 5 yr interest only and just agreeing to pay the money we didnt owe bc the girl on line from caliber told me that as they investigated our account would be credited.. but somethign told me it was a lie.. i asked for it in writing but no dice. so i knew, once they had us resigned, there would be no incentive for them to investigate and fix our account. most recently i sent another QWR and they did not respond to me but to our lawyer partially, they forwarded to me what caliber replied with and they did NOT send even 50% of what they were required to send.
ReplyDeleteBudding Butterfly, I saw your post that you want Caliber "to adjust what HSBC did wrong, calculate our missing payments and the added interest billed bc of the principal not paid down, as well as pay us interest on all tthe funds inappropriately reversed, stolen, missing, applied incorrectly, and still being charged", etc. I wondered how you made out. That is exactly what we are asking Calliber to do too, without much luck. Our mortgage with HBSC/Beneficial was sold to LFS9 with Caliber as servicer. We were in the middle of Chapter 13 at the time and therefore could not receive statements from Beneficial or Caliber. After 4-1/2 years, Caliber decided we were delinquent and tried to foreclose, but we produced proof that they had misapplied a payment and that we were current so they rescinded the foreclosure. THEN Caliber decided we were delinquent with Beneficial payments from 2013 before Caliber took over our loan, so they say we are delinquent again. We have sent them copies of all the payments. Our attorney is getting ready to file suit against them. They said they can't go back to Beneficial and get the records, yet they can use erroneous "missed payments" to Beneficial. I wondered how you made out- if you were ever able to get them to fix your records. Thanks for your time! Gail. My email is dukie97@aol.com
DeleteSorry, we had no luck so far, trial was to be lst june, we went hours and the bank lawyer showed up with an account history the was more than 8k higher than our real starting balance (so the entire history was unreliable and didnot match the prior 2.. she tried to get my evidence about paymets thrown out unsuccessfully in the end caliber asked for a stay saying she believed we were going to say it was an induced foreclosure and we were entitled to damages, we are following up with caliber this week and have final trial in 3 weeks so will let you know. oh they insulted us and tried to get us to agree to a new 40yr mortgage and a balloon payment to cover their legal fees after we did another trial mod. smfh.
DeleteUnfortunately, your story is like so many I've heard....including my own. HSBC really did us wrong, and they admitted it, which is worse because they admitted that they caused this mess over the phone while at the same time they had filed a foreclosure lawsuit against us claiming they did nothing wrong.
DeleteYou won't get any help from Caliber, they are even bigger crooks than HSBC was. Go look up the recent rulings in NY and MA against Caliber's predatory "loan mod" program, and how they were forced to pay a bunch of money in penalties. It isn't enough, but at least it is a start. Caliber's most recent bit of fun for me is to constantly change the name of the so-called owner of the loan...and, they also have charged me a lot of $$$ in fake property preservation charges....last month, we were charged $250 for "trimming shrubs" on the property....there's not a single shrub on that piece of land anywhere.
i will say though , today i was notified to come pick up some documents from the lawyer that they received for us.. unusual bc any docs that come to them are usually scanned and emailed to us so i am anxious to see tomorrow what we will learn. It is depressing though that even with the proof that the new company's documents do not match what HSBC claimed when they defaulted us, and the amounts don't match and further the companies on the suit allegedly owned the loan BEFORE the VOLT 2013 thing... its amazing that in all this, they can be crooks and get away with it because of a system rigged against even the most obvious fraud with full documentation. all bc florida judges only care if they claim to have the original note in possession when they file that is all that matters... and again.. they copied and pasted signatures from the REAL docs visible in the online court system onto a totally diff doc that we never signed (we originally signed a Mortgage deed of trust and an "adjustable rate Rider" (it was adjustable and converted to fixed loan 3 yrs later) yet in the case they submit the docs on file with the court here (the mortgage and ARM rider as I said we signed) AND they submit an "Adjustable rate Note" that is NOT on file with the courts and never was (which is why HSBC could not provide a copy even when they claimed in 2007 that they had lost or destroyed the original note) in fact, when i went thru the court files, EVERY single loan closed by accredited home loans in our area that had the same type of loan.. NONE of them have an "adjustable rate note" on file. NOT ONE. Sadly the lawyer says this does not matter and i'm so confused bc i thought the whole point was they had to prove that the note had been originally filed with the other docs after closing (our lawyer says no that is not true though) but this week they submitted a certified copy from the court that only proves more that there was never anything called an adjustable rate note on file.. and why would they file 2 or 3 major documents if the 3rd was supposedly the most important? also a side note- MERS was the one on the original docs and we did have the robosigner thing, we also have about 8 Full page allonges included in the file- and half have"VOID" written on their signatures and then there are replacement ones for each voided one that they clearly copied and pasted the signatures from the 1st ones... also none of these docs were filed until 2014 novemeber and 2015. and caliber took over the loan in sept 2013.
ReplyDeleteinteresting stuff, right? the time the docs were filed in 2014 was when we were in a trial mod too. so apparently that didn't stop them from prepping and pursuing foreclosure anyways. anyways in our case, i tried to follow the money and it seems to me like HSBC may have been the ones that never owned the loan properly.. when i researched i foudn that lonestar funds purchased accredited home loans when it went cut more than half its workforce and almost went under... but in 2009 Accredited filed BANKRUPTCY. so now i wonder- is THAT why our credit report says the account was paid off? what happens if Accredited somehow actually still owned our loan? notice the dates.. HSBC claimed to not have our docs in 2007- the same year accredited was bought by loan star...after several years (we were also told hsbc transferred our loan bc of some guideline from Obama that banned HSBC from foreclosing on our loan.) so in 2013 they "transferred" us to Loanstar and caliber... but my hunch is that Loan star owned our loan the entire time, hsbc was the one never properlyin possession and they just passed us around like the cup game on a NYC street...but all the while the address for US bank, Caliber and LSF8 is identical.. for all 3. So after all this, if I am correct, is it relevant? if loanstar really did own our loan or if accredited still owned it when they filed bankruptcy (while Loanstar owned them in 2009).. how would we prove this? no I am not looking to get our mortgage wiped out... i'm trying to find where all our money went and what the real jig is here. it seems to me some serious double or triple dipping is going on.. esp since our balance is now allegedly 30k MORE than what we paid in 2004 and for 8 yrs we always paid extra payments. So if our loan was charged off by a company- can they still sell it and collect even more than what we owed adn what was charged off? this whole Loanstar thing is like a freaking monopoly. they also own Caliber. any advice on dealing with this and getting to the truth and hopefully having integrity prevail is appreciated. heres the link showinfg loanstar owns accredited that filed bankruptcy in 2009http://www.13network.com/TRUSTEES/FTW/ftwdocs/Loss%20Mitigation%20Contact%20Lists.pdf
ReplyDeleteSteve,
ReplyDeleteI've spoken with you previously regarding LSF8 and Caliber. I'm not sure if you have seen this, but this is very important, I think.
https://assets.documentcloud.org/documents/2892043/Private-Equity-Housing.pdf
This is from a lawsuit in Delaware, I believe, possibly a bankruptcy case. Here's the trick of it--I believe that this document shows that LSF9 Master Participation Trust does not own any of the Chase loans. Look at the title page--LSF9 Mortgage Holdings LLC is shown as the purchaser. The problem with this information is that Caliber Home Loans has already executed assignments of mortgage/deeds of trust showing that Chase sold the loan directly to US Bank Trust as trustee for LSF9 Master Participation Trust.
The document is part of the lawsuit.....the homeowner requested this in discovery. The court had to order Caliber/LSF9 to provide it. Caliber later tried to get it sealed and failed since it was already released.
I'm dealing with LSF8, not LSF9, but I have found evidence of this same situation with LSF8. I found a power of attorney and a purchase agreement showing that HSBC sold its portfolio of loans to LSF8 Mortgage Holdings, LLC....and not LSF8 Master Participation Trust. The participation trusts cannot own these loans, because a separate corporate entity has pronounced itself as the purchaser. Also, the sellers of these loans have likewise proclaimed in those documents that the Mortgage Holdings companies are the purchasers. There's never an assignment between the Mortgage Holdings companies and the participation trusts, and there would have to be. HFC could not sell a loan to the participation trust if it was already sold to the Mortgage Holdings company.
Jon:
DeleteI think this may actually help us as well. Thank you. here is our situation.
March 14, 2017 at 2:08 am Thank you for this amazing article. I am currently and have been facing a loan foreclosure on our home from U.S Bank Master Trust LSF9 that you describe. All of the paperwork is different, some say U.S Bank, some say Caliber Home Loans vs. Robert Valdez, and some say LSF9 Master Participation Trust only. The reason i am so upset is b/c I made sufficient funds to build my own dream home at the time $1.2M and made perfect payments to CHASE for 8 years, AS with all of us hard times hit, we fell behind, and although the real estate market has rebounded, we have a bit of equity in it but I want to keep it and after 8 requests for modification they actually want to set a date coming up for non-jury trial. All 8 modifications were denied. 7 without reason. I was unemployed for 3 years and we fell far behind but now things are back on track. The loan was at 6.75% and I offered to pay $250K in past due payments if they could trim off a bit of interest. Even their own attorney said that they would have no one they could talk to in order to present that offer. They stated a short sale was OK, or deed in lieu, but not working with me to reduce any past due interest or to assist staying in the home. They insist on going to trial. I realize the scam that this seems to be. Do I have ANY RIGHTS AT ALL as they have yet to provide ANY discovery AND does anyone know legal council that has defended against LSF9 with experience? I do not think our attorney has the knowledge or experience. I am prepared to fight b/c I have equity still and its enough that the big banks hide behind this still at the peril of regular people. I am seeking an attorney that defends specifically against this LSF9 Master Participation Trust. Robert Valdez ny12713@yahoo.com
would there be more then 1 LSF9 agreement with Chase? Our mortgage loan is not listed in this pdf anywhere.
DeleteRobert,
DeleteThey are scarce, and usually heavily redacted if you find them from court proceedings somewhere, but these agreements don't have a list of loans in them.
Budding Butterfly,
ReplyDeleteCan you please get in touch with me? I've got a lot of the same details that you do, and I have a lot of info and docs that could help you. Email is "scgunhappycustomer@yahoo.com" thanks
I think this may actually help us as well. Thank you. here is our situation.
ReplyDeleteMarch 14, 2017 at 2:08 am Thank you for this amazing article. I am currently and have been facing a loan foreclosure on our home from U.S Bank Master Trust LSF9 that you describe. All of the paperwork is different, some say U.S Bank, some say Caliber Home Loans vs. Robert Valdez, and some say LSF9 Master Participation Trust only. The reason i am so upset is b/c I made sufficient funds to build my own dream home at the time $1.2M and made perfect payments to CHASE for 8 years, AS with all of us hard times hit, we fell behind, and although the real estate market has rebounded, we have a bit of equity in it but I want to keep it and after 8 requests for modification they actually want to set a date coming up for non-jury trial. All 8 modifications were denied. 7 without reason. I was unemployed for 3 years and we fell far behind but now things are back on track. The loan was at 6.75% and I offered to pay $250K in past due payments if they could trim off a bit of interest. Even their own attorney said that they would have no one they could talk to in order to present that offer. They stated a short sale was OK, or deed in lieu, but not working with me to reduce any past due interest or to assist staying in the home. They insist on going to trial. I realize the scam that this seems to be. Do I have ANY RIGHTS AT ALL as they have yet to provide ANY discovery AND does anyone know legal council that has defended against LSF9 with experience? I do not think our attorney has the knowledge or experience. I am prepared to fight b/c I have equity still and its enough that the big banks hide behind this still at the peril of regular people. I am seeking an attorney that defends specifically against this LSF9 Master Participation Trust. Robert Valdez ny12713@yahoo.com
Robert, you should talk to a NACA consumer lawyer in your area. See the revised blog post above for a link to the NACA "Find an attorney" page. Please understand that LSF9 does not have a legal duty to modify unless there is a condition in a HUD purchase agreement, and if there is, I don't know about it. LSF9 did not take TARP funds, so they have no duty to modify. If you would like to more rights for mortgage borrowers, I suggest that you fight the Trump administration's efforts to either neuter or disband the Consumer Financial Protection Bureau. Write your congressional representatives and tell them to fight for a strong, independent, CFPB. - Steve Hofer, Indianapolis
ReplyDeleteSteve- thank you for your reply. I'm trying to determine if they even properly hold the note. I will contact an NACA attorney as suggested. Thank you again
ReplyDeleteWell, I had Citi mortgage for 13 years or so, until they shipped my loan to SETEROUS, which was a joke. While with Seterous, They foreclosed, and my home ended up being put in Fannie Mae's name. I said I would kill my self before I would willingly move. As requested, We had sent by wire transfer $11,422.00 reinstatement money. So, for reasons beyond me, after they put home back in my name, adding $10,000 to account payments due, would never accept partial payments And, foreclosed again. By that time, Caliper was servicer and loan was owned by LSF9 MPT, with US BANK as trustee. They literally are throwing me on the street saying they are going to market my home for resale. Great, wonderful, Thank you!. I really can not believe America is allowing this to happen all around in every state . Obviously the government is partners in crime with these people
ReplyDeleteHi, Steve: we're researching on a auction property (in NorCal) that is now owned by LSF9, we found out the owner had been in default since 2011 and still live in that property (2017). Given the current strong housing market, the owners could've easily arranged a short sale to pay off the outstanding loans and still have some cash left. I'm wondering what's the reason?
ReplyDeleteRan across this article trying to find a letter to include with payoff stating I had overpaid and that paying off the loan does not relieve Caliber/Loan Star Funds from pursuit of overpayment.
ReplyDeleteI've never been behind. My load was purchased from CIT by Vericrest/Caliber and they took over March 2009. They reverted my payments at the time (2 months ahead) to one month behind (didn't realize it at the time as I was never shown late). I've been through the consumer protection - the Vericrest/caliber "customer service" department - have been promised call backs from a supervisor after "elevation" - all to no avail - I've been working on a spreadsheet with payments properly provided...have conveyed this - have asked for them to do this...right. I have received copies of the payments according to them. I have several dates that have 8 pages of the same date being applied/reapplied/ it's just insanity. I can't get a lawyer to look at it (no money) - I believe I've overpaid at least 17k...if anyone else has experienced this type of problem and has made headway - I would love to hear from you.
THANK YOU I just found this I wish I had it years ago our mortgage got so bad it caused a divorce in which 20 days after he dripped dead and they COUNTRYWIDE took the house said we where almost a year behind I gave the Attorney General here cipies of all our return receipt payments coming out of 5 years of
ReplyDeleteBK we got the amount right but I couldn't deal with all we had been through now me and the kids have or are fighting cancer everyone of us left that place sick we lost all our pets to Cancer so take that crappy house Countrywide chock on it now the neighborhood is scum lol KARMA
Grandfather passed, leaving no will,house mortgage still left on house. Before his death he was was working with the mortgage lender Beneficial inc. About the mortgage lnsurance that he was paying for should have taking in effect when he filed his son death. But now he has passed and there is 9 heirs to his estate. They all received letter of foreclosure from Aldridge Pite,LLP. What to do.?
ReplyDeleteI am not an attorney and not your attorney. But basically the most direct heir should open a probate action. A probate action is always necessary when there is real property. The court will appoint an estate representative and it is the estate that the lender has to foreclose upon. With no will, things are divided according to state law, spouses first, then sons and daughters, and so on.
DeleteI am not an attorney and not your attorney. But basically the most direct heir should open a probate action. A probate action is always necessary when there is real property. The court will appoint an estate representative and it is the estate that the lender has to foreclose upon. With no will, things are divided according to state law, spouses first, then sons and daughters, and so on.
DeleteThe LSF9 trust is a Delaware Statutory Trust but they are doing the same illegal stuff and shortcuts as the REMICs did. The LSF9 trust and the trustee named in case captions does not actually own or hold the underlying loans. It is the trustee of a participation and very different than the trustee of a REMIC. The ONLY reason a trustee has any rights at all is because of the underlying securitization contract. A REMIC has a PSA or Pooling and Servicing Agreement. This contract is the only reason anyone has standing, yet they always fail to file/serve it and try to keep it out of the case. The Trustee does NOT own or hold the note, the trust vehicle does, and it is ONLY the PSA that gives it bare legal title. Notice, it has no equitable title, that belongs to the trust vehicle.
ReplyDeleteThe LSF9 trust is a Delaware Statutory Trust but they are doing the same illegal stuff and shortcuts as the REMICs did. The LSF9 trust and the trustee named in case captions does not actually own or hold the underlying loans. It is the trustee of a participation and very different than the trustee of a REMIC. The ONLY reason a trustee has any rights at all is because of the underlying securitization contract. A REMIC has a PSA or Pooling and Servicing Agreement. This contract is the only reason anyone has standing, yet they always fail to file/serve it and try to keep it out of the case. The Trustee does NOT own or hold the note, the trust vehicle does, and it is ONLY the PSA that gives it bare legal title. Notice, it has no equitable title, that belongs to the trust vehicle.
ReplyDeleteI failed to add that the owner trustee is LSF9. THanks!
ReplyDeleteGood day everyone, i am here to say something about Mrs flora lending company . I found her email address online regarding his loan/help towards those that are in need
ReplyDeleteof a loan. So, i saw it and i was wondering if her loans where legit because I've never gotten any loan company residing outside the country. However, I ran into
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This comment has been removed by the author.
ReplyDeleteHi steve my house was bought by caliber and they are offering us cash for keys. at first they offered us 6k. exiting the home with no debit. once we assigned the lawyer to the case . lsf9 countered with 40k. is that common practice should we counter for a hire amount? how knowledgeable are you with cash for keys? we were told out property is worth 10x more now due to the booming market in New york. please advice.
ReplyDelete
ReplyDeleteI got my already programmed and blanked ATM card to withdraw the maximum of $1,000 daily for a maximum of 20 days. I am so happy about this because i got mine last week and I have used it to get $20,000. Mike Fisher Hackers is giving out the card just to help the poor and needy though it is illegal but it is something nice and he is not like other scam pretending to have the blank ATM cards. And no one gets caught when using the card. get yours from Mike Fisher Hackers today! Just send an email to blankatm001@aol.com
WhatsApp +1 (712) 600 2838 )
Just a reminder folks. I posted this post as a community service. I am not currently handling mortgage cases as a lawyer. I likely will not respond toemail posts on this topic. Remember, if anybody posts on this and is selling anything, there is a good chance that they are a scammer spanning the comments section - just like on every other site. Use your head and verify before doing business with anybody.
ReplyDeleteFannie Mae offered a disaster assistance foebearance & modification due to our damage from Irma & because my payments were current. I made the trial payments on time & signed the permanent remodification with new modified payment starting Sept 1. My servicer told me to make payments by phone for the next couple of months as the website won't reflect the loan being current for a couple of months. However, the automated system still says I owe the previous thousands. I was told to sign both copies of the remodification, send both back, and one copy would be returned to me with the servicer's signature. I haven't received it. When I looked on the website I was surprised to see a company named lsf10 mortgage holdings LLC is the owner of my loan! It used to say Fannie Mae. When I go to the Fannie Mae website, it says Fannie Mae owns my loan. What is going on? Is my home in jeapordy? Single parent on a single income who was refused help by FEMA, SBA, and all local sources. My servicer, backed by Fannie Mae, was the only one who came to the rescue so I could pay to fix my home what insurance didn't cover. What does all this mean?
ReplyDeleteThere is a house that has been empty for almost 10 years and Bank of America was the Mortgage holder. The house had no roof for over a year and a 2 foot hole in the sheathing for a year. The inside of the house is destroyed and full of mold. That being said I am interested in purchasing the property but found that it had been assigned to LSF9 Master Participation Trust 3 years ago. last month someone, possibly the city put a new roof on it. Still no sign of a foreclosure notice. Any ideas on who to contact to discuss this. I have tried the owner of record many times and received no response.
ReplyDeleteI am a realtor who has a buyer who is very much interested in a LSF9 Home. I've put nearly 5 hours of research and calling and here's where im at. I called original mortgage loan (Citimortgage) and they kept blowing smoke up my ass. And I also spoke with previous owner of home (wasn't happy to talk to me of course) and he directed me in the direction of foreclosure court. So I now have two avenues to go down, talk to USBANK who seems to be far more tied with LSF9 than other banks, or get in touch with the lawyer who initially participated in said foreclosure hearings. I will update if any thing changes. It seems to me that the only two people who can give knowledge of this are
Delete1. Trustees from either foreclosing bank, or US BANK
2. Public courts who can't withhold public case information.
It seems as if every bank, lender, or helpdesk person I speak to, is trained to either give you a FAKE NUMBER, yes a fake number, or to tell you to visit their website. Seems very very fishy and I will continue to investigate until I get somebody of power to atleast tell me "NO YOU CANNOT BY THIS HOME"
Hi, I recently called the New York number to inquire about one of their properties. The agent called me right back and stated that the property will not go up for sell and will become an leasing property. My only concern is how can they lease out a property without discussing their plans with the subdivision HOA.
ReplyDeletevery simple answer to all of the above: there is no "Trust". Does it have an address, an EIN, a tax id#, an executive, a Phone number? are there any employees? you people need to get updated on what the term "securitization trust" means.it's not an entity that you sell you a house, sue for a house, or be sued over a mortgage.
ReplyDeleteOn my block there is a house that was foreclosed on and is abandoned for many years. It says it is owned by US Bank LSF9 Master participation trust. The property is not maintained so what i'm reading is that i am SOL in actually finding someone to contact?
ReplyDeleteHello - am in a different situation than mortgages and the like but I was able to talk to a Deborah today who has been more than helpful in trying to help me with my problems that include the LSF9 and the management company from which I rent my home. My story has me so worked up in the hospital. But... the number I called today is (405)692-3400. She was so very helpful.
DeleteI have talked to so many people in the last week to try and solve my problem that I can't sleep and my world is in shambles. I pray I could have been able to have an attorney, but that requires money that this disabled grandmother does not have... good luck with your journey.
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