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Archive for the ‘Forclosure Advice’ Category

There is so much dangerous and downright misleading information about home foreclosures that has suddenly sprung up online, that I decided to do something about it by providing the truth about what actions are really open to you.

You are probably reading this because…

That single biggest purchase that you were initially so excited to own and the place that you call home is now at serious risk of being taken away from you. It’s no wonder you are worried!

You, and perhaps your partner and loved ones have put everything into making a home of your own and now you stand to lose it all due to the foreclosure process. What happened? Suddenly your whole life seems to have been thrown into turmoil and the constant worry and fear of losing your home is causing you sleepless nights.

A whole host of things could be the reason for the position you currently find yourself in, including losing a job, having to fork out for medical bills, losing a loved one, or just mounting credit card bills and other debts.

But hey! You are definitely not alone! It happens to the best of us and every one of us is only human.

But the biggest single difficulty at the moment is that you are having to deal with the shock of losing your home.

Just at this time you are suffering from the shock of it all and you probably feel a bit helpless as to what exactly you should be doing. What action should you be taking to try to save your home from a forced sale?

If you are anything like others in your position a state of panic may have already set in.

Don’t for one moment think that you are unique in the way you are feeling, because there is a reason for this.

At the moment, you are trying to search for information about how to stop or delay the foreclosure on your home and you want to take action as fast possible. You no doubt feel a little overwhelmed by all the information that’s out there, but you still need to feel more certain about your current position.

Perhaps you are turning over in your mind all of the other situations that caused this problem in the first place.

There is just so much information (not all of it accurate or up to date) out there on the Internet that you need to find and organise and everyone is telling you something different. A lot of it in jargon that you find difficult to understand and relate to your own circumstances, when what you really want is an overview of your choices and options.

“Does nobody just speak in Plain English anymore!” you ask.

This is exactly the reason why you need a voice of logic  and reason at this time in order to show you that things really CAN be okay — no matter how upset you feel and no matter how dismal a picture you have in your own mind.

That’s the reason that the information you are reading right now will be the most important in terms of pointing you in the right direction and allowing you to make the right moves for you and your family.

I’m not going to feed you any bull here because… “The Actions You Take From This Point
Onward Will Determine the Fate of Your Home and Your Future For Many Years to Come”

Right! Let’s get you started.

I strongly believe that when you read the information provided inside “Home Foreclosure Survival Tactics!” you will definitely feel more clear and certain about what’s ahead for you.

In fact, I’ll be truly surprised if you don’t feel that once you discover that things aren’t as bad as they seem (and that quite possibly you may even have the upper hand), the panic will begin to subside for you, your fear will disappear and you’ll know exactly what to do and when to do it. You’ll be planning things properly instead of wondering what to do next.

And remember — you certainly aren’t the first person this has happened to.

It was predicted by one online news site that approximately 1.4 million homeowners will feel the affects of a foreclosure in 2008.  CNN told viewers: “Foreclosures spiked 112% in early 2008 – with no real end in sight.”

So you can see that you are not alone and there is help, but time is definitely of the essence here. It’s what beats most homeowners who don’t take action.

Each day that passes is one more day that you could get right on top of things and make things turn out so much better than you may believe at the moment.

I really need to drum this point home to you…

A foreclosure can not only affect your house and your consumer credit, but it could go much DEEPER by stripping your assets, your retirement funds and much, much more.

And because I’m sure that you won’t want this situation to go any deeper than affecting just the state of your home ownership, that’s exactly why it’s absolutely vital to your future that you must take the appropriate action right now.

In fact, not ignoring the situation and taking action right now, no matter how painful it is, is actually in your best interest.

And please understand this, because the good news is…

“It’s Very Possible That There May Be No Better Time For A Homeowner To Be In A Foreclosure Situation Than Right Now…”

I’m aware that right now, as you read this you may be asking how could you — a person in a home foreclosure situation — have any possible chance of leverage against a powerful bank or lending institution?

Well – that’s what you’re going to discover and feel great about when you get to page 10 “Home Foreclosure Survival Tactics!”

And once we reveal to you this leverage in the system, you will soon discover why it makes so much sense to take a certain action now that can help you to stop, halt or stave off your foreclosure situation. The information that you will find on this one page alone can set you on your way to re-building for a stronger future.

And once you’ve uncovered this, the very next step will become transparently obvious to you! You need to get this vital information into your hands as soon as possible (time is of the essence) so that you can then take the next steps toward stopping the forced sale of your home, or even making a foreclosure situation disappear completely, with less harm to your current and future credit.

There is a Solution that CAN Be Arranged Before Foreclosure is the Final Option!”

You need to become properly informed as to what options are available to you right now, without falling victim to the scamsters that will try to take advantage of you (and you wouldn’t believe just how plausible some of these ‘so called’ businesses can be)!

You must know exactly who to contact first (and in what order) to find the very best and least expensive alternative way to solve your current foreclosure situation.

You must know what to do to be prepared for all eventualities (including the very worst case scenario of actually losing your house)! Because well before that happens there are things you can do that will make your future situation so much better than if you were ill-prepared at this stage. (You need to plan on this one well in advance)!

“Home Foreclosure Survival Tactics!” “Discover in the next 20 Minutes the Tactics Necessary to Stop, Delay or Avoid Altogether a Foreclosure Situation before You Lose More Than Just Your Home!

Assess Your Current Position
In Part 1, we will take a complete assessment of your current situation so that you will know what you are capable of negotiating for a total win-win situation.

Your Action Steps and an Action Plan
In Part 2, we will discuss the order of things that need to happen and who to contact right away. You may have options at your disposal that could allow you to continue living in your home. But you need to act quickly!

Download “Home Foreclosure Survival Tactics!” and get the peace of mind you deserve. – You won’t regret it for a minute!

Here’s Just a Little Taste of What You Are About To Discover Inside This Potentially Home Saving Ebook…

This ebook is exactly what you need even you are just worried about your ability to keep up with your current payments…or if you are late making a payment…or your loan is soon due to be reset to a higher payment level …
And definitely  if you are in default…this ebook is for you.

Here’s a sneak preview of what you are about to uncover…

• Why the homeowner is very often in a much better situation than the bank is.

• Is the law on your side or not?

• What is the latest new legislation in Congress going to do for homeowners facing foreclosure?

• What about these Foreclosure Assistance Programs – are they really legitimate or something to avoid?

• The one Agency that could help you to catch up on your payments (and not have to pay them back!)

• Where can you find the APPROVED counselling agencies that actually do provide real help?

• Revealed! -  What scams people play and how to avoid them like the plague!

• Exactly what you should do before ever picking up the phone to make contact with anyone!

• Who to contact first, second and third – get this wrong and you’ll cause yourself more problems!

• 3 great methods you can use right away to stop you lender foreclosing.

• 3 methods you can employ right now if there is no choice but to leave (and how to soften the impact on your credit rating)!

• How can you get your lender to agree to let you have more time?

• If you have an adjustable rate loan you absolutely must ask your lender this one question! Where to find the very best low cost or no cost credit counselling

• How you can shave 30% (or even more) off your current monthly outgoings

• Whether selling right now is (or is not) a real option for you

And a whole lot more inside!

Ask yourself…With all the vital information we are providing…Can You Really Afford to be without This Information?
The time to act is right now. But we’ve already told you that.  So the question again is…

“Do you want to save your home from foreclosure and a forced sale, or are you just going to stand by and let them take it off you?”

Every single day you let go by without taking action is just another day you are getting deeper in the hole and in being in threat of credit damaging action by your bank or lending institution.

Why spend $300 (or more) for an initial consultation with a lawyer just to get briefed about this information? You can literally save yourself that much by not having to go over that information and know exactly the path you need to take

But it won’t cost you that much,

For a limited time, you can put your mind at ease with“Home Foreclosure Survival Tactics!” for only $37 and become aware of how to deal with a potential foreclosure situation before it’s too late and too much damage has been done.

Besides the fact that you’ll be put at ease for less than a cheap night out, you are totally covered by my…

Look at it this way – $37 really is a drop in the ocean compared to the frustration, time and money you can save yourself by having to research and assemble this information by yourself (even if you could!).

With “Home Foreclosure Survival Tactics!” in your armoury– you’ll be able to stay that one step ahead and begin to actually do something about your situation in just the next 20 minutes!

“Okay — How do I get a hold of this?”

Just Simply click on the Order Now button to claim your copy of “Home Foreclosure Survival Tactics!” right now. Once your credit card is approved, you will be taken to a special download page where you will have instant access to this potentially home saving ebook!

Just imagine yourself 20 minutes from now suddenly realizing that all hope is not lost and that you actually have the upper hand in your own foreclosure situation! Go ahead and get yourself on the right track toward resolving this aspect of your life so you can move on and get on with your life.

Claim your copy of “Home Foreclosure Survival Tactics” right now so you have it handy as you head in to tackle this situation and get it sorted once and for all. Do that and not only will you start to feel the relief that you deserve, you’ll also be happy knowing that this unfortunate situation will soon be behind you.

I wish you all that you wish for yourself.
Kind regards,

Anne James
P.S. I’m truly rooting for a great outcome in your situation. I’m sure you already realise that that will only happen when you take action The situation cannot be ignored and must be dealt with right away, so don’t put it off a moment longer. Download “Home Foreclosure Survival Tactics!” today and get the peace of mind you deserve.

New!!! – Home Foreclosure Survival Tactics!

On May 28, 2008, Governor Crist of Florida signed into law Statute 501.1377 (HB 643/SB 992) or so called Anti-Fraud Legislation. The real estate investing community has labeled the new legislation as anti-investor, despite the statute formally being called “Foreclosure-rescue Transactions”. The legislation targets certain types of foreclosure-related transactions including any action or method that postpones or stops a foreclosure transaction, the purchase of a foreclosure property, and the lease optioning of a foreclosure property back to the homeowner.

There are two types of individuals covered by the statute, the first of which are called Foreclosure-rescue Consultants. These individuals may or may not be investors and their efforts are focused on stopping or postponing a foreclosure for the homeowner whether or not they collect a fee. Before this legislation took effect, an individual could charge a homeowner an upfront fee for loan modification, short selling his home, or any service that would stop or postpone the homeowner’s foreclosure. As of October 1, 2008 any person deemed to be doing foreclosure-rescue consulting can no longer collect any fees before all services are complete as specified in a contract between the homeowner and the consultant. This means that if a consultant spends 10 to 30 hours on a case, and the end result is exactly as proposed in the contractual agreement with the homeowner, the consultant may not be able to collect his fee after all. It depends on whether the homeowner decides to abide by the terms of the contract or not.

There are literally thousands of legitimate foreclosure consultants who for many years have saved homeowners from foreclosure or eased the burden of their foreclosure and charged a reasonable upfront fee to do it. The well-meaning sponsor of this legislation was focused on a few scam artists who took foreclosure victims’ money and never made an effort to complete the services promised. Ironically, the true victim in this legislation will be the homeowner who now can only seek the very expensive help of an attorney to do the same work a non-attorney can easily do.

Originally included in the legislation were bankruptcy attorneys who have to charge a fee before the bankruptcy filing. However, attorneys were later exempt by the State’s Attorney General who explained he would not enforce it against attorneys. So every attorney in Florida is now exempt from charging upfront fees for loan mitigation, foreclosure postponement, short sales, and any other service that stops or postpones a foreclosure. This has created a new and vast market that was formerly unprofitable for attorneys in most cases. This legislation now gives attorneys a whole new client base to work on.

When real estate investors realized what the legislation meant to their careers and independent small businesses, they reacted in the only way they knew – to try and find “loopholes” by which they were exempt from the severe penalties of this statute. As with attorneys or wannabe attorneys, if you get five together, you will get five opinions. In this case many were trying to escrow the payment(s) for services rendered or charge in small increments as the work was completed, such as an application fee, submission fee, and other “step-by-step” fees. These are illegal under the statue and subject to fines of $15,000 per incident and possible jail time.

Also included in this legislation was specific wording about contract clauses and the requirements of the foreclosure consultant interacting with a homeowner including:

1.) The homeowner must have the contract for at least 24 hours before signing it and this right cannot be waived or modified, as are the waiver rights for the maximum fees that personal injury attorneys can charge. 2.) The homeowner must receive from the foreclosure consultant a copy of all documents that he signed within three hours of signing them. 3.) The homeowner has a three-day right of recession or cancellation of the contract without penalty and any funds collected by the foreclosure consultant must be returned to the homeowner within ten days. 4.) The date of the agreement must be shown as well as the name and address of the foreclosure consultant and it must be signed and dated by the homeowner and the foreclosure consultant after the date the homeowner received the original contract for review. 5.) The contract must be in 12 point or larger “Upper Case” print which we believed must have been a mistake but after speaking to the Attorney General’s Office, they confirmed the entire contract must be in upper case letters. 6.) The contract must explain the exact nature of the proposed services to be provided, the total charges for each. 7.) The contract contains very specific language that cannot be modified in any way and recommends that the homeowner contact his lender or loan servicer since they may do the same service as the foreclosure consultant for no charge. 8.) No upfront fee, money, property or other form of payment may be accepted by the foreclosure consultant until all services are completed.

This is a brief overview of the first part of Florida Statute 501.1377 and is not meant to be a legal opinion advice and is for educational purposes only.

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Have you been served with a foreclosure?

Here are your options:

 

1) Your mortgage servicer’s loss mitigation department may provide you with a “reinstatement figure.” If you pay it, the servicer will reinstate the mortgage and dismiss the foreclosure. This option typically has a couple of problems associated with it. First of all, the servicer will not be very cooperative, even if it promises you that the reinstatement figure is on the way. Even if you successfully obtain a reinstatement figure, you still must come up with the cash to pay the amount due to stop the foreclosure.

(By the way, reinstatement figures often will include hundreds, if not thousands of dollars, in junk fees, such as a Broker Price Opinion, property inspections and other “property preservation expenses”. These fees are often charged to the borrower whether or not the cost was actually incurred or the service actually performed.)

2) You can seek a complete refinance of the existing mortgage in foreclosure. This option is limited to a very small group of people. There must be sufficient equity to entice another lender to pay off the defaulted mortgage. This becomes even more difficult if there is a second mortgage because that must also be paid off. Given the much publicized “credit crunch” on Wall Street, only those borrowers with substantial and verifiable income will most likely qualify.

3) You can place your home on the market and attempt to sell it. This may not be a realistic option because home values are still dropping each day, and you may now have no equity or negative equity. I have previously discussed the possibility of a short sale, but if you are in a foreclosure, you are under the additional pressure of time. There is only a small window of opportunity until closing on the sale of your home will become impossible before a foreclosure sale date, and your mortgage servicer will be in no hurry to cooperate. See option #1 above.

4) You can file a Chapter 13 reorganization bankruptcy. There are a bunch of excellent blogs on the subject of filing a Chapter 13 on Bankruptcy Law Network, but you can only save your home in a Chapter 13 bankruptcy if you can make the monthly Chapter 13 Plan payment. Chapter 13 can buy you time, but if your case is dismissed for nonpayment, the mortgage servicing company will resume the foreclosure. If you have regular income, this is the way to go.

5) You can give up and move out. This is an option that many people are choosing in this current economic climate. Maybe the reason you fell behind in your mortgage is a long term loss of income. You cannot meet the requirements of one of the four previous options, and you are ready to move on. There are two major problems with this option. The first problem is that you will definitely have a foreclosure on your credit report. Secondly, there is a possibility that the mortgage company will still be owed a balance after the foreclosure sale. This leads to a deficiency balance owed by you to the mortgage company.

6) You can fight against your foreclosure. It is not a given that your mortgage servicer will succeed easily in a foreclosure . . . unless you do nothing. This may sound too good to be true, but your mortgage company may have filed an improper foreclosure lawsuit. Across the country, judges are punishing mortgage companies for incomplete record keeping and for violations of law. You may have valuable defenses and counterclaims against your mortgage company that could actually prevent foreclosure and even require your mortgage servicing company to pay you damages. You may even be able to force your lender to completely rewrite the terms of your note and mortgage, enabling you to keep your home.

Here’s how you can fight your foreclosure!

How do I fight my Florida foreclosure?

http://www.mortgagelawnetwork.com

By Chip Parker, Jacksonville Consumer Attorney on Mar 28, 2008 in Attorneys In Our Network, barney frank, mortgage reform

greywolf.critter.netAs I stated in my previous article, you have a limited number of options when you are served with a foreclosure on your home. For many, the best option may be to fight the foreclosure. “How is this possible?,” you may ask. “How can I fight my huge mortgage company with all of its tall building lawyers?”

The truth of the matter is that, despite the millions of dollars spent by the mortgage servicing industry on sophisticated software to process loans, record keeping tends to be sloppy and full of errors. Moreover, the largest mortgage companies hire law firms that do nothing but file foreclosures, and the work goes to the firm that bids the cheapest price per case. It’s not that these lawyers are stupid. More accurately, their volume case load prevents them from effectively litigating contested cases, and their client, the mortgage servicer, does little to assist in the prosecution of the foreclosure case.

Are you aware that your mortgage company is probably not the same company that actually loaned you the money to buy or refinance your home? How do you know if this mortgage company has been properly assigned your note and mortgage? The alleged assignment may be legally insufficient. Does your foreclosure complaint even have copies of the note, mortgage and assignment attached? Most likely, these documents are not attached, and may not even be in the possession of your mortgage company. On October 31, 2007, a federal district judge in Ohio dismissed fourteen (14) foreclosure cases filed by Deutsche Bank for this very reason.

Your mortgage company may be attempting to substitute your original note and/or mortgage with a copy. This is called a “Count to Establish Lost Documents.” There are strict legal requirements to establish a lost note or mortgage, and your mortgage company may be unable to meet the requirements if challenged.

Your mortgage company may have inflated the balance due by charging junk fees, such as a Broker Price Opinion (BPO), property inspections, force placed insurance and other “property preservation expenses.” Additionally, your mortgage company may have placed your payments into a “suspense account” and charged you late fees as if payments were never made.

The bottom line is that your mortgage company may have filed an improper foreclosure lawsuit. You may have valuable defenses and counterclaims against your mortgage company that could actually prevent foreclosure and even require your mortgage servicing company to pay you damages. You may even be able to force your lender to completely rewrite the terms of your note and mortgage, enabling you to keep your home.

Don’t sit on your rights! You have or will be served a copy of the foreclosure complaint by a process server. You typically have only 20 days to respond to the mortgage company’s complaint, so you need to see an attorney immediately if you wish to defend against the foreclosure!