Hellish home refinancing nears bleak conclusion

[schmanda]

Hellish home refinancing nears bleak conclusion
It's been an odyssey of misery for Imogene Hall, a Miami Gardens woman who just wanted to tap some home equityBy TOLUSE OLORUNNIPA

Comments

[azetburcaptain]

I realize this is not a rule in the rest of the world, and that I am not contributing anything to discussion by not producing possible solutions

(aside from a system of laws essentially forbidding these practices)

but this example is one of the many reasons I will never buy a house. No.

[sizequeen]

Yep, I decided last year that I'll be buying a mobile home. I can pay it off in 2-3 years an I don't have to fuck around with home value craziness.

[azetburcaptain]

I would think that comes with its own set of problems, like maintenance, but hey, 2-3 years isn't bad!

Good luck with that!

[tmlforsyth]

I think that is an excellent idea. I live in NYC so mobile homes are not an option, but if job prospects force me elsewhere, then I knew where I will live. The only reason to buy a more expensive home is to flip it when you retire. There are other ways to accumulate income, which requires just requires discipline and index funds.

coherent response is lacking

[kitanabychoice]

WHAT IS THIS SHIT I DON'T EVEN I MEAN WTF

[thebigbadbutch]

I really feel like every single American should be forced to read Upton Sinclair's The Jungle because none of this is new or surprising. The lending industry has always been rife with corruption and the government has always been on the side of big bankers. American's will continue to be screwed over like Hall until we all stand up and demand big businesses are adequately regulated.

[erunamiryene]

Closing documents from the sale show that Cuffy and his affiliates made more than $25,000 in transaction fees, and pocketed more than $180,000 from subprime lender Argent Mortgage Company, without Hall's knowledge, she says. Hall received the balance of the $230,000 loan - about $50,000 - the proceeds of what she thought was a simple refinance.

HOLY FUCKING FUCKITY FUCK. I wouldn't be suing, I'd be going vigilante on these fuckers.

She paid just over $80,000 for the home in 1997. Despite overwhelming evidence that Hall was likely a victim of mortgage fraud, Deutsche Bank won its foreclosure case, with a final judgment of $303,000 for the home, which the county appraiser valued at $98,310 this year.

So ... the bank wants THREE FUCKING TIMES what it's worth? HOLY SHIT FUCK YOU ASSHOLES.

No seriously, I'd gone a whole day without incoherent rage, damn it. GAHHHHHHHHHHHHHHHHHHHHH.

[notgarystu]

Holy fucking shit, there are no words.