"Lillie Mae Washington may have been conned into an outrageous mortgage by a firm that had its license revoked. Ocwen Financial wants to evict her anyway"
"There is a term of art that was often used during the mortgage boom: "I'll be gone, you'll be gone," or "IBGYBG." In the mortgage business, it meant that however bad or risky or outright fraudulent a mortgage was, the person who originated it didn't have to worry—he'd have sold it and moved on long before the borrower was the wiser. The people to whom broker sold the mortgage wouldn’t be held responsible, either—after all, they weren't responsible for the fraud.
Lillie Mae Washington, who is 96 and lives in West Los Angeles, knows all too much about IBGYBG. Since September 2008, when Washington first sued her mortgage servicer, lender, escrow agent, and others for mortgage fraud, she has been trapped in a legal hell. She has represented herself, been represented pro bono, and now pays a lawyer to handle her case. The suit has been handled by at least seven judges, and the docket runs 104 documents long in federal court alone.
In all that time, no one that Washington has sued has argued that her mortgage was entirely by-the-book. It’s just that no one cares that it probably wasn't"..............READ MORE
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