Predatory Lending Update: The Struggle to Stop Mortgage Servicing Abuse and Foreclosure Scams resurfaces in Texas Lawsuit

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Dallas resident faces EMC Mortgage Co. in jury trial over possession of dream home and hundreds of thousands in phantom rent and legal fees that exceed the $86,000 mortgage value of the home.

For nearly a decade, I have done everything they asked me to do inside and outside the courtroom, and EMC is still trying to take my home . . . all at my expense

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Lawyers for Robert John "Jack" Wright are due to appear in a Dallas court for the start of a jury trial in which Jack Wright is accused of reneging on a one-sided December 2004 settlement agreement in which EMC Mortgage Company ("EMC") now alleges claims for possession of Wright's home of over 19 years and hundreds of thousands in trumped up charges of over $200,000 in alleged rent and legal fees allegedly incurred after another Texas judge refused to recognize EMC's so-called agreement, and ordered the parties back to trial. The present suit was filed on March 18, 2005 in the 14th District Court for Dallas County, Texas under the caption EMC Mortgage Company v. Wright, No. 05-02652-A. (the '05 Case).

According to court filings, Irving, TX-based EMC, a wholly owned subsidiary of publicly-held Wall Street titan, The Bear Stearns Companies, Inc. (NYSE: BSC), filed the '05 Case against Wright because he refused to surrender possession of his dream home as part of a sham settlement agreement that was prepared by EMC following a marathon, 14-hour mediation session at a time when he was physically ill and not otherwise inclined to do anything but finish the trial of his mortgage servicing fraud case against EMC in the case styled Wright v. EMC Mortgage Company, No. 02-8531-G (134th District Court filed Sept. 9, 2002) (the '02 Case).

In his court filings, Wright denies any wrongdoing in the matter and questions why he, as a nine (9) year victim of mortgage servicing fraud and abuse, should be forced to pay anything to EMC for simply trying to save his home and stop EMC's abusive mortgage collection practices. "For nearly a decade, I have done everything they asked me to do inside and outside the courtroom, and EMC is still trying to take my home . . . all at my expense," said Mr. Wright. "In the '02 case, EMC testified I was never in default and admitted intentionally trying to take my home and equity. Now EMC is demanding that I help them take my home, avoid any accountability, plus pay them over $200,000, in money they know I do not have, to do it? It's absolutely ridiculous!" According to Wright, "A man's home is still his castle in America, and I always believed it was my duty to fight to save my home against injustice not only for myself, but to help protect the rights for all the other working families who have been backed up against the wall by unscrupulous mortgage companies who constantly take but never give anything back in return to homeowners except heartache and misery." Wright states that he is penniless after years of trying to prove his case and EMC is using his lack of resources to beat him down.

Mr. Wright's legal team is led by Rawle Andrews Jr., Esq. of Washington, D.C.'s Andrews & Bowe (http://www.lobbylawfirm.com), and Jonathan H. Cox, Esq. of Houston's The Cox Law Firm (http://www.coxlawoffice.com). They too seemed to be shocked by EMC's allegations in the '05 Case, especially since the alleged damages are in excess of the $86,000 mortgage value of the home when this dispute started. "In this post-Katrina world when the cost of everything from gas to groceries seems to be spiraling beyond the reach of everyday people, these claims against Mr. Wright represent yet another instance in the wide-open, financial services industry where predatory mortgage companies, like EMC, are more interested in having it their way than respecting the rights of their customers, even when these types of home loan abuses are under scrutiny by federal regulators," Andrews said. "At this point, no one can say what the outcome of the jury trial will be, but our resolve and faith in truth, justice and the American way has not been shaken by EMC's claims for plainly unnecessary 'Skaddenomic'-type legal fees totaling almost $200,000, and phantom rent where no lease or property management fees were ever provided to Mr. Wright," added Andrews.

The jury trial has been scheduled for April 12, 2006.

Related link:
http://www.prwebdirect.com/releases/2005/5/prweb243928.htm

Contact:

Jack Wright
Direct: 972-955-6735
Fax:     206-337-0869
URL: http://www.msfraud.org

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Jack Wright

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