I enter an agreement to modify my loan, after I paid my last payment of four on Sep. 08, I was waiting to receive a new loan modification contract and it never arrived to my hands. After the fires in California last October I received a phone call that my property was sold. I serched and it was right LASALLE NATIONAL BANK was the new owner. I was told by Jonathan Manko representative from FF that after my first payment of the pre-mod agreement he was going to stop the FORCLOSURE process and the NOTICE OF TRUSTEE'S SALE, it was never stop. That's when I start taking action and hired an attorney to initiate a lawsuit against FIRST FRANKLIN NATIONAL BANK & LASALLE BANK.
I had discovered that FF was purchased back in 2006 by Merrill Lynch and discontinues in March 08. The closure afect me and about 650 people in mortgage origination at First Franklin and First Franklin's NationPoint division. The firm estimates total charges, primarily
severance and real estate costs related to this matter, for 2008 of approximately $60 million, of which approximately half will be recorded in the first quarter and it has already reduced head count at First Franklin by 70 percent since July. As I noted previously, I can't believe Merrill bought First Franklin in the first place in late 2006 for $1.3 billion. The housing market was clearly slowing at the time, and subprime mortgage credit tremors were already starting to be felt. This was part of the COMMING FRAUD 2008.
FIRST FRANKLIN was never intented to help people modifying loans it was to get FORCLOSURE HOMES to get GOVERMENT BONUSES.
If you wish to serve as lead plaintiff to open a CLASS ACTION LAWSUIT IN CALIFORNIA, contact ERICK-DOUGLASS JOHNSON attorney for these open case in Rancho Cucamonga on January 09.
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