Excellent article.

Can anyone offer me any thoughts or insights?

After going through a LONG TRIAL AND TRIBULATION PERIOD, I finally got Litton Loan Servicing to SEND ME THE MODIFICATION AGREEMENT, it reflected an escrow shortage of 840. already reworked into a new month payment, which was to be ALL inclusive, of 933 per month. I was very happy.
I notarized, signed, copied, returned. Brown and Associates (Litton's lawyers) got the package back on 11/23/09.
Now to find that on 11/30/09 Litton cut the town tax collector a check for over SIX THOUSAND DOLLARS, which they NOW reflect as the "escrow shortage". I thought that the HAMP REQUIRED the modification to BRING ME CURRENT, and I certainly did not acquire SIX GRAND OF OVER DUE TAXES WITHIN THE SPAN OF TEN DAYS TIME. I had submitted the overdue taxes to Litton BACK IN JULY!
Wouldn't the TRUTH IN LENDING ACT stop them from sending me a summary of my new terms, and then hit me with a grossly inconsistent escrow charge all within days of writing up my modification?

ALSO, this is NOT reflected as being recorded with the registry of deeds in MA. AND, in checking that I see that the last thing recorded was my mortgage with New Century, which since went under.
According to Litton Deutche Bank bought my mortgage, if so should not SOMETHING have been signed by them? I wasn't even aaware about New Century, and believed that Litton was simply the servicer for THEM.
Shouldn't they have been filing things with the registry of deeds, the way it looks, I have only a mortgage with New Century. AND I was arguing about things with them, because there was to my belief NO ESCROW WAIVER, it was only when I got notices from the town I learned that New Century had NOT been paying the taxes, and it has been a big struggle for me.

Now I'm sure you've heard of the "Lot Note" defense. Well a lot of these Mortgage & Notes aren't really lost (of course some probably are) but they are "lost" to being immediately available to be legally used because the transferring entities failed in their Due diligence to properly check out the information used in creating the loans, they are "lost" to being immediately available to be legally used because each transferring agency failed to even transfer (previously) within themselves (Originator, Bank (securitizer), Servicer and Trust) these Mortgages & Notes legally, that is they didn't do the proper documentation and are in violation of UCC, SEC, FTC and specific State Laws governing Real Estate Transactions & negotiations and the recording of same.

And in some cases they really have lost the Notes!

But I started this wanting to comment on following the money and something I've not seen much made of.

Does anyone remember the concept of "Amortization"?

Plug in the numbers. 1. Loan Amount 2. Interest Rate and 3. Length of loan and you get a print out of just how much of your 1st month's payment goes for interest and how much goes for principal.

Check it out! You can download fre amortization software from any download site like http://www.tucows.com and search for "Amortization".

Once you've "done the math" on your loan, add up the interest paid in the first 2 years against the principal. You'll find out in the end, that if the Banks can foreclose on you withing the 1st 2 years, they'll lhave made over 800% profit on their money! Not to shabby!

And then there's "But we pay the Attorney Fee's!" BUT THEY DON'T!

I went through foreclosure back in the mid 90's. I lost 9 properties due to a Banks unfulfilled promises to me. I did my part, they didn't and I lost it all. BUT, after the foreclosures were over, that's when the deficiency judgments came in. Now one would think that they would just sell the house at auction and then subtract that amount from "how much you owed" and throw in a few fee's and that'd be the end of it. Sorry! The Court's charged me $1,000 for each house, I paid $2,500 in their Atty Fee's on each house, I paid I don't even remember how much more than the difference between the "How much I owed" minus "How much the house sold at auction for" The Court's also gave the Bank a judgment against me for the entire, original amount of the Mortgage!

Fro example… hypothetical home loan for $50,000 paid down to $30,000 and sold at auction fot $20,000.
Judgments to Plaintiff's for $10,000 (actual property only deficiency) AND judgment to Plaintiff's for $50,000. And don't tell me this doesn't happen, it happened to me!

Your readers should watch this…. this guy's GOT the credentials!

http://video.search.yahoo.com/video/play?p=reserv…

And also readers, I suggest you do a http://www.youtube.com search on Mr. William Black (Professor of economics & Law at the University of Missouri) and listen to his interview on the Alex Jones radio show.

And for all those looking at foreclosure… check out http://www.MSFraud.org which has "The best Defense" information on the Net (IMHO).