mail problem

10-6-2009
bank envelope found outside mailbox in apartment building. name of bank: UNION BANK. name on envelope: brian aaron, 801 s. union ave #204, los angeles, ca. 90017.

Tried to EMAIL the post office and their website disappeared off the computer, 8:40pm pst. Tried again to email the post office and computer freeze not responding to anything I type

This post was submitted by brian aaron.

foreclosure

My brother got his mortgage modification with Indy Bank. He was making payments and a friend told him “I saw in the paper that your home is up for auction”. He calls the bank and they tell him that he owes them so much money. He says “the mortgage was modified and I’ve been making the payments”. The person he talked to says “I’m sorry my records don’t show a modification”. He answers, “I’m looking at the signed agreement right now”. The next day the house is pulled from the auction. He calls to try and find out what’s going on. He is told, yes, they show that he has been making the payments but they’re not being posted against the loan, “They are in suspension”. He asks why they are in suspension and the person he is asking says they don’t know another section makes that decision. He asks who he can talk to from that section and they tell him they don’t know and they don’t have any phone numbers. A few weeks later the house is again listed as being auctioned. He can’t get any information from the bank and goes to the auction. The bank has a minimum bid on the house and no one bids the minimum. He asks the lady conduction the auction what happens now. She tells him she doesn’t know, just “wait until you hear from the bank.” Three weeks later he gets a notice that he has 10 days to move. When he contacts the bank they tell him that if no one meets the minimum bid the bank then has the authority to buy the house at the minimum bid. They now own the house and he must move.
Question 1: What happened to the adjusted mortgage?
Question 2. Who gave the bank the authority to buy the property at the minimum bid?
Question 3. So the bank buys the property for the minimum bid which is below the assessed value of the property and the government pays the difference to the bank because the bank has gotten rid of a “toxic asset”?
Question 4. Has the bank made a legitimate mistake or is there a scam taking place here?

This post was submitted by gene bryson.