Foreclosure Checklist

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Author Articoli
10 dicembre 2013 at 03:02 #15706

Post count: 16

Foreclosure Checklist

You should consult with legal counsel if at all possible. Local rules and state laws differ, as do the application of bankruptcy laws in each state.

That said, based upon the emails I am receiving, many people don have the money to hire a lawyer. Obviously this makes perfect sense since most of the people reading this blog are people who have not made their mortgage payment.

So the first order of business is to realize that the judicial systems of each state govern foreclosure procedures, and that none of them were designed to handle a situation like the Mortgage Meltdown. The clerks in the courthouses, the Judges, the lawyers, the banks, and others are all in the same boat as you are. They are confused, upset, and they don have a plan.

We have published a lot of do and don here and you can research through our 100+ posts that will give you much of the information you need. But I want to summarize and expand some issues.

1. Fight back and don take anything for granted. A piece of paper, whether it is posted on your door, signed by a Judge or a letter from a lawyer does not mean you have to do what they are asking. But you DO need to plan your response.

2. Don assume that you will lose. There is growing sentiment out there that you got screwed William Gay Jersey and that your city, homeowner association and neighborhood is suffering from this massive fraud on the American Public.

3. Don assume the lender wants to the property back. They already have more than they can handle. Offer to maintain the property and pay the utility bills. even after the order is signed to evict you, you have options including just staying there. But you should have a plan B. Sheriff resources are declining due to declining tax revenues. Performing unpopular evictions that nobody really Larry Foote Women’s Jersey wants to see happen is not at the top of their list.

5. Make sure everyone in your family knows about your problem and is at least sympathetic. You might get more help than you expect and this is no time to stand on ceremony or pride.

6. Make sure that your immediate family continues to receive your attention, your love and nurturing from you. The last thing you need on top of the foreclosure is a divorce and custody battle.

7. If you are in a committed relationship do some brainstorming about how you can make more money, start some small business, earn money off the net or whatever suits you. Think about education too, since the job market is going to require increasingly sophisticated knowledge if you want employment security.

8. Don get mad, get even. Game the system. Get to know people who are in it and charm them, cajole them, and do whatever you have to for information, advice and guidance. Assume you CAN keep your house, that the mortgage can be modified in principal, interest and payments so that you can stay in it. Because it can and the lenders are increasingly looking at that option because it at least freezes the downward spiral of housing prices and therefore the downward prices of securities they sold to investors based upon YOUR mortgage.

9. Do NOT hire a consultant that asks for money up front. By all means listen to anyone who is willing to work and get paid IF he/she is successful. The only exception to this is someone with a proven track record of doing TILA (Truth in Lending Act) audits. These audits are worth their weight in Gold. Even if you have to borrow the money to get the audit done, it will most likely give you some strong ammunition with which to fight your foreclosure and sale.

10. Don be a stranger. My email is listed on the page. If you something to share or ask, go ahead.

thank you neil for reposting this blog with 2012 around the corner. few things fm is evicting a famiy in ft lauderdale tomorrow although they were going to wait to after the holiday. i guess they need their bonuses and maybe the cds insurance doesnt until the home is deemed empty. my year is comming. thank god i am blessed to have found good friends on these blogs and am ready with good counsel. i am worried but know even if i lose in county i will win in appeeal. wells fargo has perpurtrated so many horrors on us to prove who lied when they unknowingly put us in a stated income loan will be in the judges court if the judge is well paid by wells fargo i lose. i have verifiable income and feel if my income was not enough to afford this house she had no right to raise my salary to fit her criteria. the small county of 170k people here in florida had 2500 homes for sale that year of

2006. if i did not make enough for this one because my husband was unemployed, hence the reason for our move., i could surely afford another house easily. so why do we peo ple told we homes we couldnt afford when the banks lied to get us in them. hoping we would be obedient citizens and when we coulnt afford the house and unable to sell just abandon the propery.

well if florida would have employment for the over 50 segment this would not be happening. i am an RN for 25 years i moved away from my home town where i new everyone so my husband could find work (in miami you must be bilingual to land a job in manufacturing)

but all i have run into for me was a road block nurse managers that were utrterly discrinatory towards me. my look, my weight, my personality. at over 46 yrs old 12 hour shifts are extremely difficult and cobine that with night shift. all i can find in my specialy. so finding steady work the past 6 years has been a horror show. same for my husband. so we are not deadbeats not wanting to work, we are victims of floridas employment fiascoo

would appretiate feedback anyone else going through the same. i am devistaed after working my whole life to have this horror waiting.

ps we Markus Wheaton Men’s Jersey also moved for a better education for my children. i watched for 10 yrs kids not graduating from our local high school and a high teen preg. rate. wanted better for my children yet we find ourselves in the middle of a mortgage scam

NG “One thing seems certain that any claim by the investor is unsecured and the ONLY party with legal standing to assert any claim against you is the one who lost money. The net value of the investor’s claim is unknown but dubious at best. And so far the investors are suing only the servicers and investment banks for sticking them with deals made up of pure vapor.”

MSoliman The FSB funds the asset and holds it under a take out commitment. The investor funds the take out dollar for dollar but never acquires the asset.

If the FSB uses it capital to fund receivables and never sells the asset then where did the investors for dollar match deposit end up?

called broken positions or lost derivatives investing Ahhhhhh! Believe it.

Mary: According to the terms of any note I ever read, any payment from you or any third party that is intended to be a payment against interest, principal or both must be applied as such. You have hit the nail on the head with your question. When they pooled your note, the deal you signed was ended and a new one began one to which you were NOT a party. You were mentioned but they never got your signature in the pooling and servicing stage, the securitization stage or the terms of the bond (mortgage backed indenture stage). This is a direct breach of the express terms of the note which describes how the payments will be applied. Follow me here. The who appeared on the papers at your closing was already prepaid on your obligation by third party investors. So one of two things are true: either the note is paid in full and there is no obligation nor is there anything for the mortgage to secure, or the note you signed was properly assigned to a third party who put up the money. But the note cannot be properly assigned and enforced against you if the terms are changed without your knowledge or consent. So it wasn properly assigned. That means it is paid. Where does that leave the investor who put up the money that was used to fund your mortgage? The investor has received a bond (which is the same as a note) which includes all kinds of terms that you knew nothing about where the money was owed and guaranteed from several entities that you knew nothing about. The bond indenture says the bond holder gets a pro rata title to the mortgages and notes in the pool. So the trust is holding nothing but so is the investor because the note you signed was not properly assigned conditioned were added to payment and risk, making it a different deal. So the investor has claims and may have been paid from the government, an insurer, cross collateralization, over collateralization or some other source including you. The investors claims against you are NOT on the note and mortgage because the note was paid never assigned in the legal sense. The investor claims are at common law or in equity since you did get a loan and some of the money the investor injected into the pool was used to fund your loan. But as soon as the investor sues you for unjust enrichment, constructive or resulting trust or whatever, you have counterclaims for all the TILA violation, predatory lending, appraisal fraud, slander of title, usury, etc. that could lead to a counterclaim for treble damages against the investor for things the investor never did at least not directly. One thing seems certain that any claim by the investor is unsecured and the ONLY party with legal standing to assert any claim against you is the one who lost money. The net value of the investor claim is unknown but dubious at best. And so far the investors are suing only the servicers and investment banks for sticking them with deals made up of pure vapor.

I was served with a complaint to foreclose and of course they lost the note as well as saying I hadnt paid since November 08. I in fact have paid up until March 31, 09, but it seems they have alloted my mortgage payment (at least 3/4) of them to suspense and fees.

Ive asked for months to no avail and all the other questions, like who holds my mortgage. I

Are Mortgage servicers allowed to take my payments and apply them to wherever they want, even though I have never seen a notice regarding suspense???

JP: Foreclosures always affect credit score. Of course I have an issue with the credit scoring in this country. It is geared to coercing you into taking on debt, no matter how onerous, and when you don use it or you can pay it your score is reduced. If you are named in the foreclosure then you and your father will take a FICO hit. BUT a debt validation letter and qualified written request makes it illegal for them to issue a negative report to the credit reporting agencies. Unfortunately that doesn stop them from doing it. There is a fine for doing it but collecting on that fine and getting the regulatory agencies to do anything about it is very challenging. I would suggest that you get a PDR (Preliminary Document Review) which you can get off the blog, or one of our volunteers will send to you. Then get ready with a debt validation letter, QWR, rescission, etc., assuming your father wants to fight this, since it is in his name.

My name is Grace and the blog is for everyone who understands the importance of having Legal Representation on the matter concerning saving there home. We charge a flat fee of and you probably don have to sell all your belongings either. We do them in most all States if the Lender has a bank based out of California.

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