Foreclosure..FREE RIDE: 3 Years

Great  Story......

Source: CNN MoneyWednesday, December 28th, 2011, 10:58 am

Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they're willing to put up a fight.

Among the tactics: Challenging the bank's actions, waiting to file paperwork right up until the deadline, requesting the lender dig up original paperwork or, in some extreme cases, declaring bankruptcy.

Read the full story >>

Just like I've been telling folks for over a year now...

Dig in your feet &  fight.

DON'T FEEL GUILTY....

Short Sale Blog

Guilt ridden thinking about Defaulting on your mortgage?

Wayne Landon: Posted on Thursday, December 22, 2011 1:32 PM

Before you beat yourself up to badly, read the following  news report. Five major mortgage lenders could be facing concessions totaling $19 billion as bank representatives and government officials put finishing touches on a settlement for wrongful mortgage foreclosures, sources have told The Wall Street Journal. Officials have been working with banks for months to determine how they should be held responsible for the mortgage robo-signingscandal  but some states expressed concerns that the deal on the table doesn’t meet their expectations.   The banks involved in the settlement are the nation’s five largest mortgage servicers: Ally Financial Inc., Bank of America Corp., Citigroup Inc., J.P.Morgan Chase & Co. and Wells Fargo & Co.   While specifics of the settlement have not been disclosed, banks are expected to be responsible for least $19 billion in concessions that could include principal write-downs and interest-rate reductions for homeowners, as well cash penalty payments to the government.   The total amount could jump to as much as $25 billion if California, which accounted for 13.1 percent of all mortgages outstanding and 10.8 percent of all loans in foreclosure, joins in the deal. The state walked away from settlement talks in September.   So how do you feel now, guilty or angry? If you follow mortgage default news like I do, you would note that very reputable news outlets are pointing the finger at the banking community for the mess we have. They are the ones who created the exotic mortgages that few people understood, to fuel the expansion of new mortgages. They want to blame the public for being so stupid, the government for insisting on more mortgages, and Wall Street for bundling mortgages into bond funds to provide liquidity.   They should be brought to their knees like Arthur Anderson for the Enron scandal, but that is not practical, only wishful thinking.   If you want to explore how you deal with your underwater mortgage checkout www.jwlproperties.net for solutions that meet your needs, not those of the banking community

FEWER FORECLOSURES in Last Quarter....

This is GREAT NEWS!!!!!

Monday, April 4th, 2011, 7:51 am

Freddie Mac Chief Executive Officer Ed Haldeman said less than 4% of the government-sponsored enterprise's single-family home loans are at least three payments behind or heading into foreclosure.

Read more at..... http://www.housingwire.com/2011/04/04/less-than-4-of-single-family-loans-are-delinquent-freddie-ceo

Passed on to you by Larry Tutino

HAVE YOU RECEIVED A NOTICE OF DEFAULT ??

From Chris at.... http://www.mclaughlinchris.com

A Notice of Default is the notice sent out in non-judicial foreclosure states that alerts the borrower that the official foreclosure process has begun. It is also filed with the county recorders office and allows the notice of foreclosure sale to be published. What's so important is that this is the process in California, Nevada and Arizona (AZ is both judicial and non-judicial), which have three of the top four foreclosure rates. Last week an article from American Banker titled, 'New Point of Foreclosure Contention: Default Notice' circulated widely among the folks who follow the mortgage mess. It talked about how several lawsuits are now being filed contending that the Notice of Default process was flawed and the foreclosure therefore invalid.

As this article was circulating, a source pointed me to the fact that Notices of Default had dropped off dramatically since October, especially in California. In fact, Foreclosure Radar shows it quite clearly. Foreclosure Radar's Sean O'Toole wasn't ready to say the banks had cut off Notices of Defaults but did say, 'given the issues raised, we certainly wouldn't be surprised to see a slow down of foreclosure activity in non-judicial states.'

SAVE YOUR HOME !!!!!

Stan Shaw, an expert at handling Foreclosures for homeowners says:

Keep your clients in their home with our Trustee Verified Sale Postponement with out filing BanKruptcy and no payment due till until the sale has been postponed !

"I also have a great "Trustee Sale Verification Program" that stops sales dead in their tracks in all 50 states with as little as 24 hours notice and with out filing a BK. Plus the client pays after the sale is stopped, also making it SB94 and MARS compliant!"

http://www.linkedin.com/groupAnswers?viewQuestionAndAnswers=&discussionID=41182324&gid=106811&trk=EML_anet_di_pst_ttle

From Larry, Blog Author