What’s a national trust company? You’d think it would have something to do with trust or national security. Let’s get one thing straight right now. Trust and security, national or otherwise, are not what these entities are about. They are private investor arms securely attached to a bully bank. I found this description at Findlaw: “National Trust Company. The Office of the Comptroller of the Currency (“OCC”), which charters and regulates national banks, may authorize the creation of a “national trust company,” i.e., a bank that limits its activities to the exercise of trust powers.” Yeah … trust powers … is that like trust plunders?
The sole purpose of my bully bank defendant, apparently, is to maintain incestuous relationships with mortgage servicing companies so that they can easily locate properties that are going to be foreclosed and then gobble them up at auction for a fraction of what the mortgage servicing companies were trying to get from the poor under water owner. It’s a really neat game they all play.
Think about it. Someone owns a house and defaults for whatever reason such as losing his or her job in this crap economy. The idiot mortgage servicing company tries to get blood (money) from a stone (the poor owner). The mortgage servicing company tells the owner it won’t modify the mortgage or jerks him around for months on end. In many cases the servicer just ignores the owner’s pleas for help. Owner has no money so, eventually, bye-bye home.
The home gets popped onto the “auction block” where lo and behold bank vultures swoop out of the treetops and buy it up (allegedly). And what did they pay for it? About one-half to one-third of what was due on the loan by the prior owner. Isn’t that interesting? So you have to ask, how did the bully bank get such a sweet deal? Why didn’t the mortgage servicing company simply modify the loan and let the owner keep his home?
The state and federal governments can’t possibly be so stupid that they don’t know what’s going on with this hideous scam. No, our governments are just letting these corporate scum get away with stealing, plain and simple.
I was merely the renter in a house that was foreclosed but I’ve been going through hell over how the “event” was handled (please refer to Part 1).
The attorney working on behalf of the bully bank defendants in my case said to me after my deposition that everyone’s suing his client. He said this to diminish my importance. When you have agencies around the world suing you what’s one little lady gonna do? Step to the back of the line, of course.
I don’t for one minute think the banks will ever come to their senses, play fair or care one iota about the harm they’ve caused to me or anyone else. They simply have no conscience. Nor do their attorneys. Everyone’s out to make a buck as you will see as I continue this series discussing the other lazy-ass defendants.