Latest baseball scores, trades, talk, ideas, opinions, and standings

Archive for the ‘bank foreclosures’ Category

>Foreclosures Can Get Violent – You’ve Got To See This Video

>

Posted: 07 Mar 2011 09:34 AM PST
Video:  The protestor does not like foreclosure liars…
These are by far my favorite type of clips – random, live, televised episodes of public humiliation for the criminal bankster elite.
Watch an unknown protestor call JPMorgan Chase exec David Lowman a liar during yesterday’s Senate Banking Committee hearings.  Nice work.
The anger is growing…
big h/t to Dr. Pitchfork for finding and drafting this clip.

Posted: 07 Mar 2011 08:39 AM PST
Protesters interrupt J.P. Morgan – WaMu foreclosure auction – Mar. 4, 2011.
Thanks to Daily Bail regular “john” for sending us this clip, which gives us a glimpse of some of the ground-level realities of the foreclosure crisis.  The video shows a foreclosure auction taking place on the courthouse steps while protesters hold up signs, sing chants and blow whistles.  Most of the protesters, it turns out, are the very people whose homes were being sold that day.  Heartbreaking.
The protest was organized by a group calling themselves The National WaMu Homeowners Support Group.  And they have no love for Obama’s favorite banker, Jamie Dimon.  Don’t miss the photos of Dimon in an orange jumpsuit and Dimon as Hannibal Lector on their site.
Further reading…

Don’t forget to praise or be afraid to comment negatively. If you are having trouble finding something specific and can’t find it on our web site, let us know so that we will be better able to help you in the future. Leave feedback. Hit the COMMENTS button.

>Abandon Your Home and Rent?

>The Key: Does Your State Allow Deficiency Recoveries?
There are many articles for you to read if you are “underwater” on your home, meaning your house is now worth less than the mortgage balance.

There are ten states, including California, that prohibit a bank or a lender from going after a defaulted homeowner. That’s key. If you have a job and merely decide you have no reason to continue paying for a mortgage you can never retire with cash in your pocket because the value has gone out of the market, better call your state and see if that state allows real estate Deficiency Recoveries.

Here are some of the article links for you to start your research:
Recent EzineArticles from the Real-Estate:Foreclosures Category:

Most Viewed EzineArticles in the Real-Estate:Foreclosures Category (60 Days)

  1. Timeline For Foreclosure – All 50 States
  2. Steps of Foreclosure – You Can Extend Those Steps and Stay in Your Home For 3 Years Payment-Free
  3. Should I Just Walk Away? – Here’s Help in Making a Foreclosure Decision
  4. Facing Foreclosure & Short Sale, What Happens After the Sale? Cancellation of Debt Explained
  5. Foreclosure – Some Important Facts
  6. Foreclosure Challenges – Can a Credit Card Lender Put a Lien on Your Home?
  7. What Happens When I Stop Paying My Mortgage?
  8. Short Sales Allow Homeowners to Exit With Fewer Worries
  9. Facing Foreclosure – 5 Tips on How to Buy More Time to Stay in Your Home
  10. Foreclosure Clean Up – Why 2010 Will Be a Busy, Profitable Year For This Type of Business
  11. What Does Default Mean in the Foreclosure Process?
  12. When Banks Reject Your Offer on a Short Sale
  13. Ownership of Foreclosed Home Not Transferred After Auction
  14. Produce the Note Checklist to Stop Foreclosure
  15. Ways to Stop a Foreclosure and Stay in Your Home For Free Indefinitely Even When Nothing Else Worked
Most Published EzineArticles in the Real-Estate:Foreclosures Category (60 days)

  1. Benefits of San Antonio City and How to Get a Budget Property Through San Antonio Foreclosures
  2. How to Be a Short Sale Super Hero
  3. Should I Just Walk Away? – Here’s Help in Making a Foreclosure Decision
  4. Foreclosures and Tax Deeds – A Future View
  5. Homeowners – How to Bring Up Wrongful Foreclosure Claims
  6. Avoid Foreclosure – Go For Home Loan Refinancing
  7. Foreclosure Classroom – First Things First – Learn How to Start Taking Care of Your Hardship
  8. Avoiding Foreclosure
  9. Why There is a Rise in the Number of People Looking For Information on How to Avoid Foreclosures
  10. Short Sales Allow Homeowners to Exit With Fewer Worries
  11. What is the Difference Between a Foreclosure Sale and an REO?
  12. Foreclosure Classroom – Lien Priorities – Why it is Important For You to Know?
  13. Foreclosure – Some Important Facts
  14. 12 Tips to Avoid Foreclosure & Save Your Home
  15. Subject To Avoid Foreclosure With a Little Known Method Known Mostly to Investors

Don’t forget to praise or be afraid to comment negatively.
If you are having trouble finding something specific and can’t find it on our web site, let us know so that we will be better able to help you in the future. Leave feedback. Hit the COMMENTS button.

>How Can I Stop The Bank From Taking My Home?

>
“Show Me The Note”

By Kristen M. Jackson, Attorney at Law

My husband is disabled, and as the bread winner for my family of four, I recently lost my job and am unable to pay my mortgage and other bills. For six years, I diligently paid my mortgage until six months ago. Because I have been unable to pay my mortgage, the bank has emailed me with a summons to answer within 20 days how I plan to pay or they will foreclose on my house. Can I stop the bank from taking my home at least until I can find a job and turn my life around?

A potential legal defense that may delay the bank from taking your home is to request that the bank produce the original promisory or mortgage note.

What is a mortgage note? It is the contract between you and your lender that establishes your promise to repay your mortgage loan amount. In a foreclosure proceeding, borrowers should require that the foreclosing party, the bank or leinholder, produce the note as evidence that it is the true owner of the note and has a right to collect the debt.

In any extremely large number of cases, banks are having a difficult time producing the promissory notes, since mortgages are sold, packaged, bundled, and resold whereby the original mortgage notes are lost in the process. In many cases the original note signed by the homeowner was lost, stored away in a distant warehouse or even destroyed.

If you are facing foreclosure, don’t simply agree to allow the lender to take your property and move out. Contact an attorney who deals in matters of foreclosure, one who will ask the court to require that the bank “show me the note.”

The number of foreclosures is climbing at an alarming rate. In 2008 there were more than two million foreclosure proceedings filed, and that number is expected to double before the end of 2009. Because unemployment is reaching double digits and escalating, the financial strength of our banks is ailing without any immediate signs of recovery, judges have become sympathetic toward homeowners facing foreclosure. The are questioning whether default by the homeowner is entirely the homeowner’s fault. Because the mortgage note is a binding contract between the homeowner and the bank, the banks expect homeowners to uphold their responsibility to repay the note, the courts are taking the position that banks should be held to an equal standard of responsibility to prove they are entitled to payment and to foreclose by producing the original note.

The bank’s attorneys argue that asking a bank to produce the note is merely a stalling tactic to delay an inevitable foreclosure. They argue that the original note is almost always electronically retained and can eventually be found. Homeowner attorneys argue that banks would not allow homeowners to use a similar argument that they “almost always” and will “eventually” pay their mortgage: banks would delcare the homeowners to be in default. This is a double standard.

Banks filing foreclosures must show rightful ownership and custody of the note. If the bank cannot produce the original note and show it is the rightful leinholder of the property, then courts cannot ask homeowners to forfeit their property and leave their home until the note is produced. This is not to suggest that some judges are unwilling to accept electronic documentation. But while a lender is sometimes allowed to produce other paperwork to establish that it is the owner of the note, assembling such documents to a court’s satisfaction often takes months. Additional time given to banks to produce the note and prove the bank is the rightful leinholder forces banks to be held to the same contractual standard as they hold homeowners to repay the note.

In a CNNMoney interview, University of Iowa law professor Katherine Porter stated: “Banks fail to attach a copy of the note in 40 percent of situations.” In other words, four of ten consumers are being asked to make payment on a mortgage, but the bank has not, or cannot, provide legal evidence to establish the debt even exists. This, together with the fact that notes over the past ten years have been sold, bundled, resold, destroyed or lost, raises the question as to how large this percentage has grown. Some legal analysts believe this percentage may be as high as 60 percent or more.
Additionally, it raises concerns as to who the rightful leinholder is and whether it can be proven that the banks or leinholder have any legal right to foreclose.

Remember, if you are facing foreclosure, don’t simply agree to abandon your propery and move out. Contact an attorney who is experienced in handling foreclosure issues or who will ask the court to demand the bank “show me the note.”

Don’t forget to praise or be afraid to comment negatively.
If you are having trouble finding something specific and can’t find it on our web site, let us know so that we will be better able to help you in the future. Leave feedback. Hit the COMMENTS button.

>Foreclosures Are Up Sharply — Problem Not Going Away

>By Don White

The states with the most serious housing bank foreclosures (REOs) problem are California, Florida, Arizona, and Nevada. Clark County, which is in and around Las Vegas, is one of the worst. Fort Lauderdale, Florida isn’t far behind. Bank repossessions: 804,000 as of today and that compares with over 600,000 at this time in 2008. It means the problem is worsening, not getting better.

If anyone thinks we are out of the woods regarding housing, look at the numbers. The current super-recession started with the housing melt-down. It will take quite a while for this problem to settle out. Once we see a slowdown — even down to a trickle of REOs — we can safely say the economy is on the rebound. But not until then, no matter what happens to the stock market.

If you look closely, you’ll see we have a sideways market. It goes up, it goes down. But it’s certainly not a bull market. That’s because Wall Street is not seeing enough housing recovery.

Don’t forget to praise or be afraid to comment negatively.
If you are having trouble finding something specific and can’t find it on our web site, let us know so that we will be better able to help you in the future. Leave feedback. Hit the COMMENTS button.