Tuesday, August 17, 2010

$hiti-Wars Con't

It has been about 1 week since I spoke to Mr Granado from the Ex. Dept re: the proposed loan modification they have worked out for us. I informed him that we would not be signing the documents as the terms are unconscionable in that (1) not all debts allegedly owed to them were incorporated into the loan. (2) There was no reduction in the principal for what is now an unside-down mortgage.

Mr. Granado informed me that he was not authorized to make any changes to the proposed contract but that he would be in touch with someone who does have the authority and assured us that "we would be hearing from someone soon." So now it has been a week so I decided I would call Mr Granado back today to see what the hold up is....if worse comes to worse and they do not want to make any modifications to the loan, I am going to seek to recind any contract they allege we have with them already, and I am going to do so based on the SCE's evidence that $hiti fraudlently inflated the values of their mortgage backed securities to their investors...it is my understanding of contract law that where their is any wrongdoing involved, a contract can be declared null and void. The beauty of winning a contract recission based on fraud (or negligence) is that $hiti will have to give us back every cent we have invested in our home. Not good to lose your home but at least you will get your expenses back.

8/17/10 1:30pm EST

Ha Ha Ha I couldnt get ahold of any of the people I have been talking too, but I got into it with this new guy pretty good and let him have it. He suggested that we just go ahead and sign the contract indicating to us what a great favor $hiti is doing us by waiving all the late fees...when I asked how much they thought we owed in late fees he came back with the figure of $500. something and I said,...WOW. Thats it? Thats the "big sacrifice" you are making for us,......forgiving ALL THAT? Ha ha ha . I told him that the main problem is the upside down mortage we now have (owing over $100,000 for a home not worth more than $75,000) and reminded him of Obombas December Initative to the banks to reduce some of the principle for homeowners in our situation...he didnt say much after that. I also warned him that if $hiti didnt do something to reduce the principle that we would be looking to recind the contract on the basis of their fraudlent representations re: the value of their mortgage securities to their investors, which led me to the subject of just who is the real "note-holder" of our mortgage - which is NOT $hiti. I asked who really "owns" the note and how much did they pay for it? (In other words, how much did $hiti gain by the sale and how much is the investor out? ) Pennies on the dollar, no doubt. $hiti didnt lose a dime on this one. It was the investors who took the loss due to $hitis'mis-representations. Maybe we will "be nice" and just pay to $hiti what its investor lost which would be pennies on the dollar compared to what we (allegedly) owe. $hiti is trying to get rich off of the homeowners delemia, even though they are out no $$$ - it is the investors they are trying to "make whole" cause the investors are now suing $hiti also.

Left message at 877 245 2511 for Mr Ray Granado to call me back.

"Oh what tangeld webs we weave when first we practice to decieve." - Bill Shakespeare

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