Herring Mortgage Investigation Fund
My name is Donald J. Herring. I am the executor/trustee of the Estate of my father, George T. Herring. I am a retired/disabled employee of the North Carolina Dept. of Transportation. I was a Traffic Data Collector for 20 years until a stroke disabled me. I am also the trustee of Supplemental Needs for my disabled older sister Aundra Marie Herring whose only income is from Office of Personnel Management (OPM)) Monthly Survivor Benefits. Ours is a minority (African American) household, aged 55-plus, on a fixed monthly income.
We live in Raleigh/Durham North Carolina metro area. Here is the mortgage situation:
My father, mother and I were victims of a predatory loan process. In 2006 two loans were made in two mortgages (deeds of trust):
◦ Wachovia Bank (for $140,000 at 5.25% fixed interest rate) (now Wells Fargo) AND
◦ MERS Inc./Advanced Financial then sold to American Pension Services/NOW Who??? (for $44,100 with fixed interest rate at14.25%)
◦ Total: two Loans $184,100
The single family residence property was appraised at $100,000
The first mortgage to Wachovia was for $140,000.
◦ $6,000 was paid on it by my father from 2007 to 2010. (He died in 2010. My mother passed away in 2007.) When Wells Fargo took over the Loan they raised the interest rate to 8.34% !!!
The second mortgage was for $44,100 to MERS/Advanced Financial Services/American Pension Services(APS)NOW Who??.
◦ My father paid $7,200 on this second loan also between 2007 to 2010.
A grand total of $184,100 in mortgages were approved for a home that was appraised at $100,000 by James Earp Appraisal Service of Raleigh NC. Our payments to the 2 Loans totaled $13,200. This still left a balance of $170,900. According to my father’s trust attorney, the mortgage has ALWAYS been "Under water" from Day 1! That is NOT right!
Because of the drastic change of income of the Herring household after my father died, I tried to get the debt/loan totally discharged and/or get a significant drastic loan modifications on Both Loans but to no avail. The home was auctioned on December 31, 2014 and bought by Mr. Matt Peedin of Keller Williams Realty for $104,000. My sister and I lived in the foreclosed property until Evicted on November 16th 2015 when I finally found a rental home that required NO credit check. We moved there.
But STILL because the wrongful foreclosure is on my credit report on ALL three Credit Bureaus, I have a VERY BAD FICO Credit score And a negative mark was placed on my Credit Report by Wells Fargo. Currently I have credit law attorneys working on clearing this up BUT this takes at least six to twelve months, minimum So I have NO Other choice BUT to ask for the Following Action: A complete Mortgage Investigation that is performed Jointly by 2 (Two) specialty Legal Firms: (A) Rockingham Equity Private Member Association (PMA) of Washington DC Website: http://www.rockinghampma.com/ Telephone: 800_984_0993 And (B) Holmes & Galt, of Houston TX Telephone: 800_372_0294 Website: http://www.win-stop-foreclosure.com/home.html .
My goal is to raise $9,000 by September 30th 2019 so I can get Holmes & Galt LLC along with Rockingham Equity Private Member Association (PMA) to investigate the mortgage process which in turn show the court evidence of wrongful foreclosure made by Wells Fargo Bank N.A. That in turn will result in either one the following Actions: A) File a lawsuit against the lenders for the amount of the loan PLUS pain & suffering damages that this whole ordeal has caused to my household Or B) Pressure Wells Fargo to resolve this matter with a Financial Settlement negotiated out of court. This will also force Wells Fargo to remove the negative mark on my Credit Report. I am STILL pursuing this matter because of principle. It is the Legal, Moral and RIGHT thing to do! I CAN PROVE my case with the RIGHT and CORRECT Legal Actions! All I ask from you now is your prayers, to Spread the word about this campaign and donate to my GoFundMe page: https://www.gofundme.com/mf6zzv7k Thank you & may God Bless you all. Amen!
P.S. Be advised that when we meet this goal ALL overflow funds in this account will then become an emergency "rainy day" fund to help us pay attorney fees and other legal expenses. So keep it coming folks...We WILL make it!
◦ $6,000 was paid on it by my father from 2007 to 2010. (He died in 2010. My mother passed away in 2007.) When Wells Fargo took over the Loan they raised the fixed interest rate from 5.25% to 8.34%!!
Wells Fargo responded with this: “When the account originated, the estimated value of your property was $140,000. The valuation we applied based on our valuation model was $148,100.The requested amount of the loan was $120,000.00. We were able to approve the loan at the higher amount of $134,639.00, than what was requested but was accepted by both borrowers at the time of origination as the documents were signed. We confirmed the loan amount was only $134,639.00.”
The problem with that explanation is twofold. 1) They totally ignored confirming the fixed interest rate numbers I gave them; And 2) They ignored the fact that I told them my father paid a total of $6,000.00 on the loan between 2007 to 2010(I have the check payment stubs & bank statements from that period to prove that he paid on a Wachovia $140,000 Loan). Therefore the Remaining balance of the principal would be $134,000.00. But $134,000.00 is NOT the original principal. The Original principal is $140,000!!! Based on their model the Remaining balance would be $128,639.00. Wells Fargo has NOT responded to me on that fact yet…. They are still researching (yeah right!)
Its time for some legal action....So Spread the word about this campaign and donate to this Website: https://www.gofundme.com/mf6zzv7k If possible. Thank you & Be Blessed! Amen!
Hi, Donald. We want to help you the best we can. Would you please explain the situation again? What were the terms of your loan? Did you stop making payments? Why? And what makes the foreclosure wrongful? Thanks... Art Lieberman