Beware of W.L. Ross and his liquidation plan.
This is a copy of a letter to the Judge regarding my issues with Option One, Mr. Ross, Chase Acquisitions, and Sandcanyon Corporation. Though these guys have been beyond difficult to deal with, they have yet to address a single complaint that my attorney has put forth. Moreover, with out legal right or document managed to convince a judge to set a sale date of my property. Here is a copy of the letter I wrote to the judge prior to the judgment. I think it roughly explains the issue:
I urge you to deny the request before you to allow J.P. Morgan Chase acquisitions, San Canyon Corporation, and W.L. Ross, ET AL, acting as “Plaintiff” to proceed with foreclosure proceedings, and further deny a move forward in any type foreclosure proceedings, Sheriff' Seizure and Sale. There are problems with the instrument and the process used to create a mortgage and subsequent lien which they are asking to satisfy against the property located at 2825 Cambronne Street, New Orleans, La, 70118. This instrument and mortgage was legally rescinded in 2008 upon discovery of significant errors and issues within the loan and it terms in late 2007, and rescinded only after pleading for correction and relief personally with the Loan Servicer (Select Portfolio Servicing) who is a paid co-representative of the plaintiff. The entire group of corporations and representatives that constitute the “Plaintiff” have offered no remedy or relief to the errors that appeared in the loan, its processing and its associated documents, other than to proceed forward acting as a machine to effect a seizure and sale of my property, regardless of the lawlessness of the act and the mortgage that it created, while uniformally ignoring the legally allowed and legally served rescission of the loan.
Moreover, the Federal Government of the United States and the President of the United States have publicly acknowledged that there are certain loans which are considered predatory and have been rightly outlawed, which appeared within the mortgage loan market in the time frame that this particular mortgage instrument was produced which is the Summer 2007. The Originators of this loan and its associated documents, are Option One Mortgage (lender) and Brian Brush (mortgage broker) who have respectively filed Chapter 11 bankruptcy and are out of business. Option One Mortgage bankrupted in December of 2007, and Brian Brush is no longer a loan broker based out of Frisco, Texas since 2009. This loan has proven itself to be predatory and has caused me financial harm, along side the acts of these organizations or “Plaintiff” which have consciously chosen to ignore not only my legal rights, but the law in order to effect a seizure and a sale of the property for their financial gain. As a result, a law suit seeking relief and remedy against the “Plaintiff” has been underway regarding this situation since 2009 and it is important that the property is preserved with clear title in my name to deny any further financial harm to myself as a result of the actions of the “Plaintiff”.
Further, it should be noted that at the time this mortgage was placed upon my property, the property was paid off (I had no mortgage or liens on the property) and is my primary residence. In an effort to 'qualify' for a Loan Modification, I have rented the property since June of 2010, on a one year lease for the sum of $1150.00 per month. The rent has been paid at the first of the month and also the property has been properly maintained by the tenants in accord with the lease. The loan servicer, who is another representative of the “Plaintiff” and who negotiates and accepts all payments, will not accept $1150.00 per month or any payment at this time in an amount less than $86, 608.01 which they claim is interest and fees they have paid on this loan. It was my belief that perhaps the issues related to this loan would have been resolved faster via a modification since in that process the terms of the loan are corrected as well as the balanced owed. On multiple occasions in 2007, 2008, 2009 and 2010 I have asked for a modification and its paperwork and have received none, in fact I have been told on multiple occasions by the loan servicer that the loan legally can not be modified, while at the same time, Chase Bank claimed to have no record of the loan. As a result of the activities of the entire situation associated with this loan, my credit has been damaged, I am not in my own home, and further I have suffered direct financial loss and harm from these activities both paying on a bad loan, and having my reputation diminished by showing a foreclosure associated with my name in print for the public on both the internet and in the Times Picayune, and as well on my credit report.
Further, it should also be noted that in an article appearing on September 29, 2010 in the Associated Press titled “JP Morgan halts 50K foreclosures for possible flaws”, JP Morgan has publicly stated “The bank asked judges not to enter judgments against homeowners facing foreclosure until it completes its review of the problem.” Although it is my contention that the issues with this loan are far more involved that some of the minor problems that plague many of the loans JP Morgan is attempting to liquidate, it is still relevant that as a tacit admission of errors that harm “homeowners” the parent company of JP Morgan Acquisitions has asked for a a halt on judgments against homeowners because of significant errors and should be considered in this proceeding.
Respectfully, your honor, I ask for relief in dealing with the “Plaintiff” and their representatives who are a third party acquisition team that purchased this jumbled mess after the lender filed bankruptcy. They have been unwilling to cooperate about any issue related to this “Loan” unless it provides themselves direct financial benefit, while attempting to preserve a situation designed to cause me the homeowner financial harm, and they further seek to exacerbate the problems the loan originator created and foisted not only upon myself but the “Plaintiff” as well. In addition, foreclosure is the only option these folks have offered as a solution and is completely unworkable. It serves no other purpose than to cause me further direct financial loss and harm through the liquidation of my home. I urge you to deny the “Plaintiff's” request, and further ask for help with the constellation of problems and direct financial losses this consortium of businesses has caused me.
With Respectful Regards,
Christopher S. Woyewodzic