Saturday, August 7, 2010

Changes in the Foreclosure Market: Are you ready

Please retweet this blogpost if you find it helpful in learning about foreclosures, evictions, government, mortgages, homeownership and bank loan modifications


Life just has a way of taking things and mixing them all up. Things are still crazy but the learning experience is incredible. Yesterday I talked to a forensic auditor that I had not met before. We talked a lot and shared experiences. Result is that I have a new opportunity to share information with people and learn more.

What is very apparent from each professional I speak with is that this is not coming to a halt anytime soon. I have reported previously of the millions that will be foreclosed on in next year or so. This professional said that there is an estimated 50 million foreclosures expected over the next (3) three years. Will you be next? I am looking for sources and reports on that. A few of my posts previous this one touch on the results and predictions of the foreclosure market. Do you think the financial genius Warren Buffett had it right when he talked with Obama? Leave a comment!


The NUMBER ONE THING that was reinforced from all I have learned both online and in local meetings, is that if you are going to fight your battles, you have to STAY ON TOP of things. Everything changes, from attitudes and methods, to strategies and effective documentation. What worked last year in legal battles may not work this year. In fact relying on "Show Me The Note" is not as useful a question as it used to be. Sending your bank a "Qualified Written Request" used to take a 1-3 months and now is taking 1 year or more if you receive it at all. I know this is not earth shattering news but it was reinforced over and over. Get support group, stay current and employ professionals whenever possible.


We have seen locally as judges and lawyers change their strategies and responses to legal complaints. Banks have changed their strategies also - and as our local "gurus" say - get your stuff together NOW. Get all your documents together, record any crimes, get a forensic document examination, consider strategy and start saving your bucks to fight with help if needed. Learn your local laws. If you need templates there are free examples on our mortgage-challenge group or on Matt's Blog

With that in mind I will try to get more timelines and steps together for you. Meanwhile good-luck and if you are fighting for your home as we are, leave a comment... we would love to hear from you.

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