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Duration : 0:1:3
Learn some of the advantages to doing a short sale on your home rather than the foreclosure.
Duration : 0:5:21
The best way to avoid foreclosure is to make mortgage payments on time and in accordance with the mortgage. Come up with a temporary payment plan by contacting the lender with help from a civil mediator in this free video on foreclosure law.
Expert: Robert Todd
Bio: Robert Todd is the managing partner and president of Robert M. Todd, P.A. and Family Law Solutions.
Filmmaker: Christopher Rokosz
Duration : 0:1:41
Loan Modification Attorneys Negotiate Home Mortgage Bailout - Foreclosure Assistance Plan - Real Estate Foreclosure Prevention Alternative To Fraud and Scams. http://ModificationHotline.com Will Help You Survive The Mortgage Meltdown Crisis by Modifying Your Home Loan. Avoid Foreclosure and Bankruptcy. Get Your Bailout Today.
At http://ModificationHotline.com You Can Claim Your FREE Copy of My Latest Report:
“THE FORECLOSURE SHARKS: A Look At The Rampant Theft Of Americans’ Homes Through Foreclosure ‘Rescue’ Scams”, and While There Also Sign Up For a FREE Consultation With Our Approved Foreclosure Prevention Specialists.
Go To http://ModificationHotline.com and Complete Our Easy Form - It Takes 2 Minutes and Can Help You Save Your Home.
Duration : 0:10:38
This is a brief Powerpoint Presentation with audio to educate NY Residents who are facing foreclosure. It shows the steps and the timeline of the NY Foreclosure Process. For more information and solutions, please join us for a FREE informational seminar at HTTP://WWW.NYSHORTSALESEMINARS.COM or visit our blog at HTTP://ANEWWAYFORWARD.BLOGSPOT.COM.
Duration : 0:2:55
just discovered that my mother’s house is in foreclosure. Apparently a Notice of Default was filed last August but she did not tell me about it.
Now I have just Discovered that a notice of trustee’s sale was filed last week with a sale date of December 13.
Apparently my mother had been refinancing her house every year to get more money to live on.
They were charging her huge prepayment penalties and huge fees every time she refinanced.
She received very little money herself. The mortgage brokers made all of the money.
This last mortgage that my mother got had payments over twice as large as her income from social security and a small pension.
She has some equity left in the house. I need to stop the trustee’s sale and help her put her home on the market so that she can sell it and recover the little equity that she has left.
I also want to take legal action against the mortgage brokers for what they did to her and recover some of the equity that they stripped.
My mother and father bought this house new in 1957. My father passed away several years ago and left the house to my mother.
In the past 4 years these mortgage brokers have charged my mother over $200,000 in fees and prepayment penalties.
The interest rate they are charging my mother is almost 12%
There has been no change in my mother’s ability to pay. She is retired living on a small pension and social security for 20 years.
The monthly payments are over twice her income. The mortgage brokers knew this when they put her into the loan. They knew that she had no ability to repay this loan.
She kept refinancing to get the money to pay the mortgage payments since they were more than her income.
I do not have the money to make up the arrearages,
I want to stop the trustee’s sale long enough so that my mother can sell her house and recover what little equity she has left.
If what these mortgage brokers did to her is not illegal it should be.
What happened to our usury laws?
When I calculate the amount of fees and prepayment penalties against the paltry amount of cash my mother received, which was less than $50,000 total in all of the refinancings, the true interest rate and the cost of tthat paltry amount of money is obscene.
I am very sorry to hear about your mother.
Unfortunately our current laws are inadequate to deal with this problem. The mortage brokers know it and they have taken full advantage of that fact.
That will change in 2009.
I am currently working with a Democratic Candidate for Congress to unseat a worthless do nothing Republican.
We will win by a huge landslide. Democrats will take the Congress and Senate by huge margins and we will take the Presidency as well.
We will hold Congressional hearings on this problem in 2009 when we take over.
We will completely reshape the law regarding mortgage brokers and real estate brokers to a greater extent than even was done during the great depression of the 1930’s.
The corruption and incompetence in the real estate industry is a disgrace that has destroyed the lives of millions of families and has destroyed the integrity of our financial institutions.
The incompetence and the thievery of the real estate industry will be stopped.
Unfortunately that will be too late for your mother, and I am sorry.
However we will return this country to fairness for everyone, not just a few rich fat cats with more money than they know what to do with.
Foreclosure on a property that I live in. It’s a 2 family home.
About your only option is bankruptcy, but that will only postpone it.
I have a house just start foreclosure process. The bank had lost all my promising notes. The process might takes a year or longer. Therefore I decided to rent out the house in the meantime. My new tenant sign the lease on Monday stated their current rental house has a water problem. As a good deed I let them move in Tuesday which is next day before I have a chance to cash their checks. After they move in they "Stop Payment" on all their checks: credit check, security deposit and first month rent check. The reason is they said it is a house going through foreclosure. Now they are living there for FREE. They want to bargain down the rent but I disagree . And if I want them to move, they demand "Moving Compensation"! Sounds to me like extortion! Basically they don’t have a lease since there were no money pay into the lease. Just wonder if Eviction(cost me another $400)can get rid of the leeches? Or way to make them pay for the time they are staying in the house and legal fee? Thanks.
Number one rule for Lanlords: BE FAIR, It never Pays to be nice.
NEVER let anyone move in until their checks have cleared or make them give you MOs. Give them NOTICES immediately, notice to Quit. Go to police/states attorney and file Fraud and or Theft charges against these people–felony theft in many states.
You can make an argument the lease is invalid as no consideration given.
These people are scammers, playing the system against you. ACT NOW.
My husband has a house that belonged to his mother. She was delinquent on a loan that she had taken out and put her home up as collateral when she died. On the extremely bad advice of a lawyer, he let it go into foreclosure. Since last November, he has been trying to contact the company to see how much he owes on the buy back; the company kept promising him that it would fax us the information, but it never did. We found out today that the house is going to be sold at a sheriff’s sale on Tuesday, March 4. The company did not contact him to let him know the sale was going to take place. Since they did not send him the information he requested, (and the company claims it records all its calls, and he called at least 5 times), and did not notify him that the sale date was set, can the sale go through? Any advice on how to stop the sale would be appreciated. Thank you.
All foreclosures are posted in the newspaper and the owner of record is to be mailed a letter certified return recpt. requested. I f the owner of record has past the newspaper postings are all the foreclosure office has to do find out who they are notify them, talk about recourse and find out if you can negotiate w/ mortgage company other than that yes the sale can go on it sucks but if you have to go to the auction cash in hand buy it back.
If you don’t have the cash get everything out before auction.
I have a mortgage with one bank and could not pay so the bank started foreclosure proceedings. The foreclosure is not completed yet so does the new bank have to start all over and file all over again?
This is what is called a service transfer and this happens all the time.
Depending on the servicer, Home Loan Servicing, Select Portfolio Servicing, Wells Fargo and Countrywide. Those are some of the big ones. Depending on how far the Foreclosure is in the process they will pick up where the prior servicer left off.
In other cases they may have the file closed and billed, so the new servicer can do a full audit and try to do some loss mitigation workout’s with the borrower to try and get them performing again, and get the person paying their mortgage again. If that fails then they will refer the file out to an attorney for foreclosure.
Again it all depends on where the loan is at in the foreclosure and what the file looks like upon transfer.
Now with all the HAMP letters going out from the current administrations there is a lot more loss mitigation work being done to get people to pay on their mortgages again.