Posted by IB (NJ) on January 11, 2001 at 15:54:05:
Tom Sir:
If you fail to take their assets (thus putting them out of business) and put them in prison, they may do these criminal acts to someone else. And indirectly, you may be to blame (at least partially).
mortgage fraud - Posted by tom
Posted by tom on January 11, 2001 at 15:22:44:
To secure a debt of $53,000 I gave a security mortgage to a building materials supplier in 1990. In 1992 I paid out the mortgage in full. In 1993 I wanted to refinance my home and found, on searching title, that the $53,000 mortgage had not been removed. I asked the mortgagee to remove it from my land title but they refused and offered to lift their mortgage to allow a new mortgage to be placed provided that I secured them with three other mortgages on other properties that I owned. I was in danger of loosing my home if the mortgaging was not completed and I agreed to their offer. In 1996 they used the $53,000 to commence power of sale proceedings and took my home. They also took my other three homes in the same way. I am in my sixties and I was not represented by legal counsel. I have now been told that what they did was extortion/blackmail…is this true…any help would be appreciated…Thank you.
Re: mortgage fraud - Posted by JPiper
Posted by JPiper on January 12, 2001 at 05:46:13:
You definitely need to speak with a lawyer.
In fact, you needed to speak with a lawyer back in 1993. Like Jim Locker I’m amazed that you simply “knuckled under” if you had actually paid the payments as set forth in your mortgage.
What bothers me here is that you evidently agreed to this proposition that you give them mortgages on 3 other homes PLUS the mortgage on the original home. You then lose the original home in 1996, and then lose the other 3 homes later. All this evidently without a word from you. And you’re just now wondering whether this is fraud?
At this point one wonders whether your acquiescence to all of these activities without a word from you has somehow legitimized these transactions (assuming that they took place the way you say they did). Didn’t it occur to you at some point after during the course of losing 4 houses that MAYBE you should seek out some legal advice???
Do so immediately. Time to stand up and be counted Tom.
JPiper
Re: mortgage fraud - Posted by phil fernandez
Posted by phil fernandez on January 11, 2001 at 18:38:41:
Tom,
Do you have proof that you paid them off entirely in 1992. Some proof of canceled checks or receipts signed by them that you paid them the $53,000.
Never heard of this before.
Re: mortgage fraud - Posted by Jim Locker
Posted by Jim Locker on January 11, 2001 at 15:31:22:
If you are telling the complete truth, you need to contact an attorney IMMEDIATELY.
You could wind up owning the mortgagee’s business, all his assets, and send him to prison to boot.
I am having a hard time believing what you say in this post because it so obviously is extortion and theft - as you tell it - that I can’t quite believe that you would knuckle under to it to begin with.
But presuming it is all true, there are some major felonies here. Go get 'em.
Re: mortgage fraud - Posted by tom
Posted by tom on January 12, 2001 at 04:10:11:
Hello Phil…I am one of those guys who keeps every piece if paper I was ever given…I have an excellent paper trail which includes every cancelled cheque that I ever paid to the suppliers…I have the cancelled cheques…a copy of the mortgage instrument and all of the other documentation which was created for the transaction…On the mortgage instrument it states that I was supposed to pay the interest rate of 1.9% per annum but they took my home and claimed interest of 1.9% per month…they said nothing about the mortgage for four years and when the mortgage interest had amounted to $46,000 they then went power of sale and claimed a total of $99,000.00 from the sale of the property…this can’t be right …surely there must be some kind of law that stops them from doing this. The other properties that they took and sold I know nothing about because they provided me with nothing …that’s where my paper trail ended…how can there be such evil people to do such a thing…My home was located on top of Blue Mountain in Southern Ontario and I expected it to be the place where I was to spend the rest of what is left of my life…now I am lost…
Re: mortgage fraud - Posted by tom
Posted by tom on January 11, 2001 at 15:46:45:
Thanks for your speedy answer Jim…what I tell you is the gospel truth and I have not missed anything or added anything to the facts…I am not interested in getting all their assets or sending them to prison but I would certainly like my home back because I built it with my own hands on a very lean budget…Thanks again Jim and God Bless.
Re: mortgage fraud - Posted by Brent_IL
Posted by Brent_IL on January 12, 2001 at 23:53:18:
Tom,
If you do nothing else, contact your state’s attorneys office, and show them your paperwork. Since monday’s a holiday, do it tuesday morning without fail. Do not give up easily. I wish you luck.