- Report: #333377
Report - Rebuttal - Arbitrate
Complaint Review: Homecomings Fininacial/ Deutsche Bank Trust Company Americas
Homecomings Fininacial/ Deutsche Bank Trust Company Americashomecomings.com Phoenix, Arizona U.S.A.
Homecomings Fininacial/ Deutsche Bank Trust Company Americas About To Be Spanked Lost equals Case Dismissal in five states. Phoenix Arizona
Anyhow merely googling foreclosure and lost notes I had the answer I needed. Multiple case are being thrown out of court by judges who recognize that the company cannot prove ownership if it can't produce the original (Note). The (Note) is the legal promissory note one signs when they get their mortgage.
There is only ever one (Note) signed over the life of a loan regardless how many times the (Note) is sold.
Deutsche Bank and its affiliates are at the top of the ladder when it comes to losing these notes. Mass purchasing of mortgages between the years 2003 and 2006 led to a lot of shortcuts including the failure to obtain proper documents. The documents that they did obtain they did not wish to store because the storage fee was over $45,000.00 a month to do so. Oh cry me a river, as it is so sad that a company who makes billions off of those with sleezy tactics finds a dollar amount asscociated with business a waste ot time.
So please everyone out on ripoff check your papers carefully. IF THE NOTE IS LOST THEY CAN'T PROVE THEY OWN IT This means they cannont foreclose. Good Luck to all.
This report was posted on Ripoff Report on 05/19/2008 03:45 AM and is a permanent record located here: http://www.ripoffreport.com/r/Homecomings-Fininacial-Deutsche-Bank-Trust-Company-Americas/Phoenix-Arizona-85062/Homecomings-Fininacial-Deutsche-Bank-Trust-Company-Americas-About-To-Be-Spanked-Lost-equa-333377. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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