House Hunting, Fighting Foreclosure and Government Grants for the Homeless

Well the banks successfully evicted us after our year long battle.   Using last year's judgement instead of going through the forcible detainer (eviction) again.  Bankruptcy for some will still be a good option for fighting through the legal system. Make sure if you go through bankruptcy that you learn as much as you can FIRST, or have a very trustworthy person guiding you.

For other people doing a  notary complaint process and documenting the fraud for a lawsuit will be a better answer.

Going through this process has taught us a lot.   Find your alternative housing long before you end up evicted.  It is not dishonest to plan ahead, the banks are a business and all is considered as contract law. It is not dishonest to plan to take care of your family while fighting the fraud and  negotiating with the banks to honor THEIR contracts. For instance have they fulfilled the obligation for the qualified written request within 90 days? Have they committed TILA violations, have they broken Fair Debt Collection Act? Were you robo signed?  There are many FRAUD issues.  Make sure to check out showmetheloan.net or the blogs listed in my blog roll to the right to educate yourself on more issues.  You can also check past blogposts on this blog using search for key terms.

REAL ESTATE: LARGEST GOVERNMENT LAND GRAB

Right now we are seeing a new thing on listings for homes for sale by banks.  In our search for cheap housing we found that HUD is awesome source of free housing - FOR INVESTORS.  The government in it's land grab has taken over most loans from banks via Fannie and FHA etc.  They account for about 63% of real estate listings.  This means that the government is the direct benefactor of  "non performing assets".  Remember these mortgages were sold to investors already (money made) then again were paid for with insurance funding for investors and insurance when house was foreclosed on.   Now the government owns them free and clear and unlike a straightforward real estate advertise, buy and close - they are holding out for highest bidder.   We found this out when looking for a 37,000 piece of property with trailer that was advertised as available.

So essentially the government is grabbing homes with a call to increase the foreclosure process, then they are holding up people from investing outright in a new home by bid competition-AND on the other hand they are spending money to fight the homelessness they are inflicting on people.  Remember in foreclosure you have 5 days to get out, once the bank notifies you. Technically once the auction or trustee sale has happened - you are homeless, until you can have it overturned.   The government is in control of about 63% of those foreclosures, they could stop the train there, instead they are granting millions of dollars to homeless programs, including a new 16.4 million to combat rural homelessness.   Hard to say this but we are now one of the homeless, partially due to the lack of action by government in dealing with the fraud.  AS with any other government process, funding will be hard to access by those who need it. 

But I digress, back to the house hunt. We went and talked with neighbors of the advertised home,  who told us that the home had sold one month ago for several thousand over the asking HUD price. The happy new owners and paid out cash total of something like 63,000, obtained keys and were waiting for the green light to move in or rent it out. We quickly learned that HUD advertises one price, then holds out and extends the listings, waiting for highest and best cash offer.  INVESTORS are snapping up the medium priced properties. Thank you government for not stopping robo signing, fraud and correcting wrong - but for taking advantage and lining the  coffers of the governmental 'spendaholics'.  Does this type of thing sound familiar? Fix and Flip prior to the housing crash?

BANKS DEFENSIVE ADVERTISING

On Trulia the real estate owned by banks (REO) is being advertised in a very defensive and inaccurate statements.   HERE is a sample wording from one listing:

Bank Repossessed. This property has completed the foreclosure process and is now owned by the foreclosing lender, which took title to the property for an estimated consideration (loan balance plus other fees and costs). Foreclosing lenders are often motivated to sell bank-owned properties (also known as REO, or Real Estate Owned) quickly because they are non-performing assets. Please register for a free trial with RealtyTrac to access complete information for this property, including full address, foreclosure details, lender information, and more. 

If you have been following this blog and others you will know that the foreclosure process is not complete - there is the return of the security instruments according to UCC 3 -501 B.  There are many lawsuits and possible clouded title.  Chain of title could still be compromised.  They have taken title alright - stolen in many cases from owners who have not questioned if all payments were applied to the mortgage or if they were target of toxic loan or robo-signer.   The fact that they are advertising this is troublesome to many in the t foreclosure fight arena.

WE ARE WORKING ON IT!

Now we are back to square one working on our legal processes, while looking for a place to house us for the next six months to one year.   We are also rebuilding our business.   WE are in temporary situation and life is good.  If you hear of a great property with cheap housing for under 50K let us know.. or a home to care-take while the homeowners are fighting their foreclosure. :)  Let us know how your foreclosure fight is going by leaving a comment.

Fed: Banks Did Not Make Single Wrongful Foreclosure - Consumer advocates livid over finding

WARNING ;;; THIS WILL MAKE YOU MAD... OBVIOUSLY THE FEDS CAN'T READ.. THERE HAVE BEEN MANY FORECLOSED ON THAT HAD HOMES WITH NO MORTGAGE, NO LOAN AND NO PAYMENTS OWING. ARE THEY C R A Z Y ????? I think someone needs to educate the Feds! dont' even get me started!


Is this a set up to coverup the corruption in the courts????.... Feds are totally ignoring that many courts have already decided there were wrongful foreclosures!   What a bunch of morons we have in high places. 

Fed: Banks Did Not Make Single Wrongful Foreclosure - Consumer advocates livid over finding: "(NEWSER) – The Federal Reserve’s probe into the robo-signing scandal and other abusive mortgage practices failed to turn up a single wrongful foreclosure, the Fed’s Consumer Advisory Council revealed yesterday. But many consumer advocates on the council, which is made up of outside experts, complained that the Fed had too narrowly defined “wrongful foreclosure,” with some expressing fears that the public wouldn’t take the review seriously, the Huffington Post reports.

The Fed defined “wrongful foreclosure” as the repossession of a home whose owners were not significantly behind on their payments."


Check this additional article: http://zingervotes.blogspot.com/2011/03/federal-reserve-expected-to-claim-no.html

Statements by BANKS: Spin Doctor or Continued Deception

In reading several articles this week, I was struck by ONE STATEMENT.  This statement was made by one of the largest banks with many internet reports of fraud-gate, foreclosure-gate and stupid-gate. The statement is an oxymoron on its face.  

 Bank of America emphasizes that borrowers who are current on their loans aren't getting thrown out on their ear  - Bank of America Home Loans spokesman Rick Simon 

What kind of stupid  remark is that?   This is possibly the most blatant attempt to cover-up the truth with the obvious.   Bank of America is well on its way to becoming a true laughing stock.  Read it again:

 Bank of America emphasizes that borrowers who are current on their loans aren't getting thrown out on their ear - Bank of America Home Loans spokesman Rick Simon 

Who in the world would EVICT anyone that is CURRENT on their "alleged"   loans?  So, what is your vote? Do you think this is just a moronic statement -  or a revelation of  a planned deception?


Dig much deeper behind the words and what you are seeing is either complete ineptitude with  a spin doctor that has no clue what is going on. OR,  (the explanation that  leaves me speechless) callous disregard for customers  and a plan to not deal with things in a legal way.


Last month another statement that caught my eye:
Bank of America spokesman Richard Simon said the bank “recognized past inadequacies and disappointments in our service levels” and had made “many changes leading to tremendous strides.”


The above statement was made in response to 4,327 complaints by customers to the BBB in past three years.   I guess processing false documents to evict people is the best improvement in customer service you can do. 


BANK OF AMERICA is not alone.. Chase has was rated "F" by the BBB last month. 
Chase spokesman Tom Kelly said  that his company “offered struggling borrowers more than 975,000 modifications since the start of last year.”  Notice they said OFFERED not granted


From personal experience I know Chase reps are nice and sweet but bottom line is  after you hang up - what happens behind the scenes is not helpful to many.  .   I have not looked up  how many have been granted - that is for another day. 


When you read news reports you have to look at what they ARE NOT saying.  Otherwise we will be doomed to be brainwashed sheep, believing the spin doctors for  the rest of our lives. 

I have a dream - that someday all foreclosure will be reversed

Okay, the title got you right?   Well that dream is true and I am working hard with others to make it a reality! There so many people from the "Show me the Loan" group,  the auditors, lawyers, bankruptcy help group and other groups -   fighting  the rampant fraud across America. .  Hopefully by having up to date news, support groups, information share and referrals to expert help that "gets it" - we will be one step closer to reversal of all mortgage fraud and wrongful foreclosures. 

I have a twitwall and it is very useful for some things.  IN it I can promote articles that you all like and that are helpful to others.  I can track responses and group topics. 

This week I noticed that the articles I thought would be the most popular such as "Donald Trump and The Apprentice Talk Recession" or "Real Housewives Talk Foreclosure" - well those were not the most popular topics.  I put together a report gathered from stats on the blog and on shortening links as well as responses from twitter.  To me it was very surprising.   People are hungry for news. Especially if that news is affecting their personal live right now. 

Here are the 5 most visited blogposts by page view -  visited this last week!  They were not necessarily the ones that earned the most money, but apparently they were the most useful to people. 

Voided Deed of Trust: Cow and Tail - Moo! Sep 16, 2010 BIG BANK BACKS DOWN--FOR NOW; HALTS FORECLOSURE ON... Sep 14, 2010 Deeds of Trust -Invalid without Seal? Sep 12, 2010 POVERTY ? Speak for yourself Sep 16, 2010 Video report : 50% of Valley homes underwater WHAT topics do you want to see on the blog?  What will help you with talking to the neighbors or fighting your case?I have articles ranging for what to do in court, how to prepare for foreclosure to updates on our personal fight as well as news.   What do you want to see covered?

HERE IS SOMETHING YOU CAN DO–MAKE ELIZ. WARREN HEAD OF CPA � Livinglies's Weblog

HERE IS SOMETHING YOU CAN DO–MAKE ELIZ. WARREN HEAD OF CPA � Livinglies's Weblog:

"ELIZABETH WARREN IS NOT JUST A VIABLE CANDIDATE FOR THE JOB OF HEAD OF THE CONSUMER PROTECTION AGENCY, SHE IS THE ONLY ONE ON EARTH WITH SUFFICIENT UNDERSTANDING ABOUT WHAT REALLY OCCURRED TO BE EFFECTIVE IN THAT JOB."

HERE IS THE PROBLEM: The Banks will do ANYTHING to keep her from getting that job. If the President nominates her, it will provoke a big fight in the Senate. If you like the idea of bailing out the banks again, if you like the idea of plunging the country into a recession, if you like the idea of ruining the lives of 20 million homeowners, and if you like the idea of stealing money from investors all around the world, then by all means join hands with the banks and do nothing."

READ entire article by clicking on title link above. 

Puzzled by Mers? check out chinkinthearmor.net

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Newsletter & Blog

If your foreclosure papers list MERS and almost all of them do, then you need to explore this blog! This posting in particluar explains much.

Perception & Reality

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Mortgage Electronic Registration Services (MERS)

is the chink in the armor the big banks did not see.

It is the place where all of the players came together to do business.

It is the crucible in which the scandal brewed.

>>>>>>

Who is MERS?

What do they do?

>>>>>> KEEEP READING TO SEE HOW MERS AFFECTS YOU!

http://chinkinthearmor.net/

Value of a foreclosed home

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There is great debate over values right now, and truthfully no one can really say what a home is worth with so many factors that affect cost being difficult to nail down. Here is an excerpt from an article from the government repo homes site on October 6,2009:

"The US is yet to recover from the economic crisis. People are faltering on loans after job loss – a phenomenon that has made foreclosures very common. Certain regions are riddled with foreclosures. Now the question that arises is what could be the value of a house in a region that has many foreclosed homes. In the eyes of a banker who is out to recover losses from bad mortgage, it may appear to be a valuable showpiece.
It may be pointed out here that Obama’s Making Homes Affordable program could not work out only because the lenders delayed loan modification. Most of the banks are so preoccupied with foreclosure filings and selling homes that they really do not have time for mortgage modification."

(In some ways, I suspect that the bank employees themselves who are responsible for doing loan modifications are just sloppy, lax and get paid either way. Who knows what imperatives they are handed from higher-ups. They're people. They see their own situation, rather than ours as home owners who have to figure out where to go and how to hang onto beloved pets we're committed to, if we lose this most basic necessity, the roof over our heads. They're insulated from the anguish, because to them we are numbers who represent profit and loss on paper, not human beings with needs.)

What a home could command in price three years ago, is irrelevant. Now we can't even use comps to get a per-sq-ft cost basis, because the recent sales are all over the map. A home down the street -a brick with three bedrooms, two baths and a fenced yard, - just sold at auction for less than $35,000. It was listed at $130,000 in 2008, when the owner lost his job and tried to sell.

Banks are cutting off their own noses to spite their faces on these foreclosures, because the government will buy them a new nose to replace it, so no worries if they lose billions.

Modification failure - Increased foreclosures are blight on US economy

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WOW: just when you've heard it all, you hear yet again another sad story! Of course, word on the street is that BAC (bank of america) and CHASE are THE WORST at providing modification loans. This is just what you hear, I have no actual proof it is so. Reputation means a lot, especially if you have strong competition. There are many stories of how banks are losing their reputation and maybe the following scenario, told to me by a friend, can help explain why.

STORY: A women has huge, REALLY nice house. In Arizona you hear about mother-in-law houses, but rarely see them unless in upper class neighborhoods. This house had the smaller house on the property with her huge nice house, these smaller homes are usually referred to as mother-in-law homes. Woman has about 180K ready to pay down mortgage which has become delinquent. The bank will not accept it. NO, YOU OWE 350,000.

REMEMBER: Modifications normally try to lower payments but put the difference on back end of loan or do tweaking to make payment lower - you still owe the whole amount including past due... so your mortgage principle rises and so does your payment eventually. Sometimes with a balloon payment at the end. Back in 2008 loans were modified at a rate much lower than today, the programs were just starting up and it was common to have a payment increase immediately as result of the "modification".

ZOWIE: Today's number of modifications are appalling with many not even allowed to actually apply for the modification. NACA seems to be a name for getting help, the NACA name comes up over and over again in conversations with those affected by delinquencies. NACA has lawyer referrals, and free forensic audits. HOPE is another agency that is supposed to be helpful - if you can get through to talk to someone.

Back to the story: The woman offered to pay a lower amount, pay part of the past due or to modify, but bank would not work with her at all. So the bank would not allow the 180, 000 payment, would not modify and would not lower principle and allow house payoff at 180,000. Instead the bank foreclosed and eventually sold the property with acerage for 80,000. Does that even make sense to you? NO, I do not know how they had 180,000! Sometimes people sell a second property or get loans from relatives; others cash out retirement or life insurance.

PARALLELISMS: Our home will sell for about 100-150K with low payments. IN fact our interest of over 8% will be lowered to 3.69 or so and some will qualify for government down payment assist of a few thousand dollars (something we have NEVER had) and the house will be repaired if needed. The payment will be at least 2/3rds and maybe more like 70% lower than our payments were. And while we think this house will sell in reasonable amount of time; we see houses all over our area that have sat vacant for over a year. Many homes are vandalized and many homes are targeted as a hang out for teens or for squatters.

NEWS: For an interesting read, check out this article on New York Times website which carries the following quote within the article:

"Sixty percent of modifications undertaken by banks in late 2008 were in default a year later, according to the latest Mortgage Metrics Report compiled by the Office of Thrift Supervision and the comptroller of the currency.

Many of these private plans either kept the payments the same or increased them. Inevitably, those mortgages suffered the highest failure rate: about two-thirds of the borrowers defaulted again.Loans for which the payments were decreased by at least 20 percent failed at a slower but still significant rate of about 40 percent"

PROGRESS?: Banks are the primary block to lowering principle. And yet the process they go through robs cities and states of tax revenue and increases crime. A true blight on society - but banks don't care. You think they care? Call your congressman today if you care about the economy or the societal impact of foreclosures. The rate of foreclosures is not down - it is up!

Move out target date nears!

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So our agreed move out date is drawing close at hand. Emotions, as we pack for the "just in case" moveout, increase. While not concerned for ourselves; our concern for daughter's arrangments and our 3 golden's situation mounts. We have contingency plans for them, but it IS disruptive of lives, no doubt. Our ability to focus on building business is lessened.

We have more legal maneuvers and a lawsuit that is actually stronger than most for basic suit. As we try to employ these we hope for the best. We'd rather fight from within the home than from outside of it.

If you are in a foreclosure, try to do a TRO (temporary restraining order) BEFORE the sale... (not legal advice just sharing what we learned the hard way). Evidentially it does not work AFTER a forcible detainer has been entered (at least that is my understanding); you will have to read up on it. I will try to supply some links later that might be helpful.

UPDATE to BANK INABILITY to answer a simple question

UPdate and please read the post before this to understand: I called the bank back, uneasy because of my inability to get information. First I was transferred to wrong department, the previous direct number was discontinued, one call was cut off and finally a transfer to the RIGHT part of loss mitigation customer service that could actually help me.

In talking the guy started out rude but as I explained he softened and said Maam the reason you didn't get the fax is that they requested the wrong payoff information. OH MY GOSH. are you KIDDING ME... and then he said the fatal words " I requested the right fax and it should be there in about 7 days" I to my shame folded and slightly raised voice, are you guys CRAZY??? The buyer has alrady waited one week.

Not only that they raised the estimate of pay off about 5K . Not sure what will happen so stay tuned as these are truly, "The days of our lives"!!!!!!

Banks and efficiency - loan foreclosure specialists

Well this may not be news to some of you, but getting through to a live person and receiving information about your account is harder than crashing a party at the White House.

First you verify your account with the recorded greeter, press your number and speak to a live representative. Sounds easy, doesn't it?

NEXT you have the great joy of verifying all over again, your account number, full social security number, your name, mailing address, property address with zip code and any phone number. If they still doubt you then they ask if any of the numbers are cell phone.

All this just to ask full payoff. If a lawyer has become involved then those fees are added on and they can't tell you over the phone. What the heck? They have taken you through security, verification, stripping and still can't tell you information on the phone? Our loan foreclosure SPECIALIST ordered a request for another fax to be sent. Now you may not realize it but we have had a couple wanting to buy this place for 2 weeks. In fact, there have been two parties interested in buying the home. The reason I wanted the payoff amount is to sell the place. So, I asked the representative if we could call the buyers and send a fax of payoff to them also. Patiently the representative waited, as a three way call was initiated with the potential buyer, to fax the information to them as well. There should be no room for errors now unless the phone and fax lines all over the country go down.

We have now called 3 times in the space of a week and a half. Today, after 5 minutes of being preapproved to talk about our account; they said the fax had been sent and sorry they could not tell me over the phone the payoff. It's not allowed. Further it would be another two days so probably Wednesday since today is Saturday. For crying out loud, my buyers have already had to wait 1 week longer than they wanted for an answer.

I'm asking the bank to remove lawyer charges, on the basis that the lawyer acted prematurely during the time the bank said it was working with me and would not start the process. But initial reaction is that would be a short sale. I find a buyer for the full amount of loan (miracle) and they want it considered a short sale???? To those that don't know, a short sale means even if you can recover financially you cannot buy a house for about 2 years. If you sell in full you will be able to buy again as soon as you recover financially and credit wise.

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This house we did not want to sell, it is our rental house that we wanted to retire to. It had good renters and while it did not make us money it was a goal for the future.

Does anything here sound crazy to you - or is it just me?