Beat a Foreclosure,?
Devo
Persuade a judge to compel production of hard to find or nonexistent
mortgage document can at the very least delay foreclosure, buying the
homeowner some time and turning up the pressure on the lender to
renegotiate the mortgage.
ask the lender. "Show me the Note"
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It's amazing what you can do. If...
you put your mind to it.
John A. Weeks III
<georgewkspam-86BC...@sn-ip.vsrv-sjc.supernews.net>,
Devo <george...@humboldt1.com> wrote:
> Home owners try this new strategy .
> Persuade a judge to compel production of hard to find or nonexistent
> mortgage document can at the very least delay foreclosure, buying the
> homeowner some time and turning up the pressure on the lender to
> renegotiate the mortgage.
> ask the lender. "Show me the Note"
Isn't the note recorded with the county in your area? Here in
MN, it would take just minutes at the courthouse to produce
that document. And if the mortgage company gets a deficiency
judgement against you, you end up paying the legal costs for
this bonehead move.
-john-
--
======================================================================
John A. Weeks III 612-720-2854 jo...@johnweeks.com
Newave Communications http://www.johnweeks.com
======================================================================
asiand...@gmail.com
1. If you’re going to have trouble meeting your mortgage payment, call
your mortgage lender immediately. Swift action may prevent the loss of
your home.
2. Mortgage lenders will always want to work with you and help you
find a way to keep your home. That’s because they’re in the money
lending business not the real estate business.
3. If your mortgage lender has not had a payment from you for a month
or two, and if they haven’t heard from you, they will assume you do
not intend to pay them. In that case they will feel justified in
trying to take back your house.
4. If you are in serious financial difficulty, you should seek
professional assistance and/or legal counsel to best protect your
investment and your home.
5. Before you call your lender, be ready to discuss your financial
problems. They will need all the information you can give them in
order to help you.
6. Make notes about your income and outgoings so you will be better
able to answer questions. It will impress the lender if you seem to be
making a sincere attempt to tell the truth about your situation and
get your finances under control.
7. There are a number of ways in which your lender may be able to
help. If you get in touch with a lender before you miss a payment, the
lender might offer forbearance. This means they would put the soon-to-
be-missed payment at the back of the loan, allowing you to skip a
month and not getting a mortgage late on your credit. This is why you
need to contact your lender if you've lost a job or had some other
short-term setback. In fact, your lender may allow you to skip several
payments and give you time to get back on your feet.
8. Ask your lender about restructuring your loan. Since the lender
knows that mortgage payments are the last payments a person will let
slide they already realize you are probably having a few other
financial problems.
9. If you have some equity in your home, a lender may allow you to
restructure your loan to lower the monthly payments. If you’ve missed
some payments they may even agree to add the past amount due into the
new loan.
10. Ask your lender about helping you get a one-time payment from the
government’s FHA-Insurance Fund to bring your mortgage current. You
may qualify if your loan is at least 4 months delinquent, but no more
than 12, and you are able to begin making full mortgage payments.
11. If your problem is so serious that it can’t be resolved in a
reasonable amount of time, it may be better for you to sell your home
and find one with more manageable payments. In that case, sell the
home, pay off both the mortgage balance and your delinquent debt, and
avoid foreclosure.
12. If you can’t sell your home it may be possible to sign it over to
a lender. This is considered a voluntary foreclosure and could damage
your credit record. You will lose your home, but you will not be held
liable if the home sells below the debt amount.
13. The last resort, when all other options fail, is to declare
bankruptcy, since foreclosure proceedings are usually stopped until a
bankruptcy is resolved. This may save your home although it will
damage your credit record for at least 7 years and you will lose
control of your finances.
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Malcolm "Mal" Reynolds
A4DB2C.182...@news-3.octanews.net:
> In article
> <georgewkspam-86BC...@sn-ip.vsrv-sjc.supernews.net>,
> Devo <george...@humboldt1.com> wrote:
>
>> Home owners try this new strategy .
>> Persuade a judge to compel production of hard to find or nonexistent
>> mortgage document can at the very least delay foreclosure, buying the
>> homeowner some time and turning up the pressure on the lender to
>> renegotiate the mortgage.
>> ask the lender. "Show me the Note"
>
> Isn't the note recorded with the county in your area? Here in
> MN, it would take just minutes at the courthouse to produce
> that document. And if the mortgage company gets a deficiency
> judgement against you, you end up paying the legal costs for
> this bonehead move.
>
> -john-
>
The mortgage companies sold the notes which got diced and sliced. It was
very easy for original documents to be lost/misplaced and some judges will
go along with only the "original"
Brian Elfert
>11. If your problem is so serious that it can=92t be resolved in a
>reasonable amount of time, it may be better for you to sell your home
>and find one with more manageable payments. In that case, sell the
>home, pay off both the mortgage balance and your delinquent debt, and
>avoid foreclosure.
To do this the lender would have to accept a short sale in many cases. A
lot of martgages are more than the house is worth at this point in today's
market.
A quick sale these days would probably require a hefty discount making the
mortgage even more of a loss for the bank.
Brian Elfert
Devo
<georgewkspam-86BC...@sn-ip.vsrv-sjc.supernews.net>,
Devo <george...@humboldt1.com> wrote:
> Home owners try this new strategy .
> Persuade a judge to compel production of hard to find or nonexistent
> mortgage document can at the very least delay foreclosure, buying the
> homeowner some time and turning up the pressure on the lender to
> renegotiate the mortgage.
> ask the lender. "Show me the Note"
> --
and here's an URL.
Homeowners' rallying cry: Produce the note
By MITCH STACY 1 day ago
ZEPHYRHILLS, Fla. (AP) ‹ Kathy Lovelace lost her job and was about to
lose her house, too. But then she made a seemingly simple request of the
bank: Show me the original mortgage paperwork.
And just like that, the foreclosure proceedings came to a standstill.
Lovelace and other homeowners around the country are managing to stave
off foreclosure by employing a strategy that goes to the heart of the
whole nationwide mess.
During the real estate frenzy of the past decade, mortgages were sold
and resold, bundled into securities and peddled to investors. In many
cases, the original note signed by the homeowner was lost, stored away
in a distant warehouse or destroyed.
Persuading a judge to compel production of hard-to-find or nonexistent
documents can, at the very least, delay foreclosure, buying the
homeowner some time and turning up the pressure on the lender to
renegotiate the mortgage.
http://www.google.com/hostednews/ap/article/ALeqM5hLOuvy9fguykC2NydTDrkqq
yybvQD96DHN5G0
BigDog1
> In article
> <georgewkspam-86BC38.15282318022...@sn-ip.vsrv-sjc.supernews.net>,
>
> Devo <georgewks...@humboldt1.com> wrote:
> > Home owners try this new strategy .
> > Persuade a judge to compel production of hard to find or nonexistent
> > mortgage document can at the very least delay foreclosure, buying the
> > homeowner some time and turning up the pressure on the lender to
> > renegotiate the mortgage.
> > ask the lender. "Show me the Note"
>
> Isn't the note recorded with the county in your area? Here in
> MN, it would take just minutes at the courthouse to produce
> that document. And if the mortgage company gets a deficiency
> judgement against you, you end up paying the legal costs for
> this bonehead move.
>
> -john-
>
> --
> ======================================================================
> Newave Communications http://www.johnweeks.com
> ======================================================================
Yes John, you're right. Every/any document necessary to establish a
lien on real property is filed with clerk and recorder's office in the
county were the property is located. This story, if true, is
anecdotal and nothing more than an oversight in filing the documents
on this specific transaction. It certainly isn't a strategy that
could be widely used by people facing eviction to delay the
inevitable. Any judge who refused to accept documents that had been
properly filed in their own jurisdiction would soon find him/herself
under the scrutiny of whatever agency handles judicial discipline in
their state.
For what it's worth, I tried the link to the OP provided and the story
is not available. Tell you anything?
Coffee's For Closers
jo...@johnweeks.com says...
> In article
> <georgewkspam-86BC...@sn-ip.vsrv-sjc.supernews.net>,
> Devo <george...@humboldt1.com> wrote:
>
> > Home owners try this new strategy .
> > Persuade a judge to compel production of hard to find or nonexistent
> > mortgage document can at the very least delay foreclosure, buying the
> > homeowner some time and turning up the pressure on the lender to
> > renegotiate the mortgage.
> > ask the lender. "Show me the Note"
>
> Isn't the note recorded with the county in your area? Here in
> MN, it would take just minutes at the courthouse to produce
> that document. And if the mortgage company gets a deficiency
> judgement against you, you end up paying the legal costs for
> this bonehead move.
I recall reading that, this tactic has actually worked in a small
number of cases.
The important point was that, the mortgages involved had been
sold/transferred. So the borrower originally financed the house
through ABC Bank, which then sold/transferred the mortgage to XYZ
Finance. Then, the borrower misses payments, and XYZ Finance
files foreclosure action.
The borrower then tells the court, "I never signed any contract
with XYZ Finance. How do you know that they have a legitimate
claim to the money or the house? Where is the paperwork proving
it?"
The problem for XYZ Finance is to find documentation that the,
"Joe Schmoe at 456 Main Street," montage was included in some
large bundle of mortgages which were purchased from ABC Bank,
five years ago.
OTOH, there have apparently been cases where the lender was
allowed to just print up new documents which they swore under
oath said the same thing as the original, lost documents.
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