Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Is the mortgage of a failed bank valid? - Washington Mutual was declared bankrupt and all the owners (shareholder) were left with zero value shares and no shares of Chase (Chase is the bank to which the feds GAVE WAMU to), essentially nothing, no ownership for the shareholders, they lost everything invested, however the bank was given to Chase for free following the forced bankruptcy and Chase has since eliminated every reference about WAMU to make it all Chase, making every branch, website, and so on Chase entities . My contract was with WAMU (their shareholders) not Chase who didn't pay for the bank nor buy my mortgage and any interest thereof, nor lend me any of the money.
I don't think I owe Chase anything in regards to my WAMU mortgage since the Shareholders of WAMU never got any Chase shares, and even if they had, Chase has no vested interest in my mortgage. I never got a dime from Chase who paid nothing for their so called claim to my mortgage.
It seems to me that this is a case of unjustified enrichment at the very least.
I would appreciate some legal opinions on the validity of Chases' claim and the validity of the mortgage and equity line initiated between me and a now defunct bank Washington Mutual.
They were not just servicing my mortgage for someone else, it was part of their portfolio.
Many thanks, Jo -
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