Comments on: Facing Foreclosure With Chase http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/ The latest insight on the foreclosure crisis - and help for those in need. Thu, 11 Nov 2010 23:04:50 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: WADE http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/comment-page-1/#comment-580 WADE Sun, 12 Sep 2010 20:40:15 +0000 http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/#comment-580 <strong><blockquote><a href="http://cheaptabletsonline.com/" rel="nofollow">CheapTabletsOnline.com. Canadian Health&Care.No prescription online pharmacy.Best quality drugs.Special Internet Prices. No prescription pills. Order drugs online</a>...</strong> Buy:Petcam (Metacam) Oral Suspension.Zovirax.Arimidex.Mega Hoodia.Human Growth Hormone.Prevacid.Zyban.Retin-A.Valtrex.Prednisolone.100% Pure Okinawan Coral Calcium.Actos.Lumigan.Nexium.Accutane.Synthroid....
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]]> By: inotio http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/comment-page-1/#comment-194 inotio Wed, 14 Jan 2009 23:27:04 +0000 http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/#comment-194 The President needs to sign Executive Order to make "debt relief" under IRS obsolete and invalid. Too many people will lose their homes/and investment properties only to face IRS debt relief and the taxes it triggers. Our new President needs to act on this NOW. Inotio The President needs to sign Executive Order to make “debt relief” under IRS obsolete and invalid. Too many people will lose their homes/and investment properties only to face IRS debt relief and the taxes it triggers.
Our new President needs to act on this NOW.
Inotio

]]> By: inotio http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/comment-page-1/#comment-193 inotio Wed, 14 Jan 2009 23:25:18 +0000 http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/#comment-193 Labor intensive solutions to the foreclosure mess won't work. "Loan counselors" are just newly hired clerical that have to wade through individual circumstances and each file is unique. The ONLY solution that will work nationally is to have a National solution. Presidential Executive Order to reset interest rates at 1% immediately for ALL mortgages and trust deeds. Investors wouldn't have to take a "cram down". It would be fair as struggling property owners would be treated the same as defaulting property owners. This National Solution would be limited (between 3-5 years at interest only payments). Foreclosures would stop immediately as it would be cheaper to stay than move/rent. NO labor intensive solution can work. The problem is too big. Needs to be fixed with a stroke of the pen by our new President. Overnight solution. inotio Labor intensive solutions to the foreclosure mess won’t work. “Loan counselors” are just newly hired clerical that have to wade through individual circumstances and each file is unique.
The ONLY solution that will work nationally is to have a National solution. Presidential Executive Order to reset interest rates at 1% immediately for ALL mortgages and trust deeds.
Investors wouldn’t have to take a “cram down”. It would be fair as struggling property owners would be treated the same as defaulting property owners.
This National Solution would be limited (between 3-5 years at interest only payments).
Foreclosures would stop immediately as it would be cheaper to stay than move/rent.
NO labor intensive solution can work. The problem is too big. Needs to be fixed with a stroke of the pen by our new President.
Overnight solution. inotio

]]> By: Nica http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/comment-page-1/#comment-192 Nica Tue, 13 Jan 2009 17:55:23 +0000 http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/#comment-192 Check out the IRS website http://www.irs.gov/irs/article/0,,id=179073,00.html At the end of the year you will receive a 1099. The website should be able to answer some of your questions. After the house is foreclosed the deed will pass on to the bank. The bank will list the house for sale and convey the deed to the new buyer. I believe you can exclude your primary home in a bankruptcy. You should remove all your personal property before they foreclose. Hope this helps. Nica Caoile, RS Check out the IRS website http://www.irs.gov/irs/article/0,,id=179073,00.html
At the end of the year you will receive a 1099. The website should be able to answer some of your questions. After the house is foreclosed the deed will pass on to the bank. The bank will list the house for sale and convey the deed to the new buyer. I believe you can exclude your primary home in a bankruptcy. You should remove all your personal property before they foreclose. Hope this helps.

Nica Caoile, RS

]]> By: drabarnett http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/comment-page-1/#comment-189 drabarnett Tue, 13 Jan 2009 06:55:16 +0000 http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/#comment-189 Can anyone tell me what happens after someone has completed the Forclosure process. I have heard about the months of threats from the banks and then going to auction by the sheriffs and then the sheriffs evicting you form your house. But what happens after that? Does the bank continue to try to sue you? Is a bankruptcy required to protect you from the bank? (I already know bankruptcy doesn't protect you from the bank--I already tried that one.) I just want to know the rest of the story. What happens after the auction and the eviction? Do they try to take everything you own or make you auction off everything in the garage? Do they try to sue you for the amount they lost? Can anyone tell me what happens after someone has completed the Forclosure process. I have heard about the months of threats from the banks and then going to auction by the sheriffs and then the sheriffs evicting you form your house. But what happens after that?
Does the bank continue to try to sue you?
Is a bankruptcy required to protect you from the bank?
(I already know bankruptcy doesn’t protect you from the bank–I already tried that one.)

I just want to know the rest of the story.
What happens after the auction and the eviction?

Do they try to take everything you own or make you auction off everything in the garage?

Do they try to sue you for the amount they lost?

]]> By: tmm http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/comment-page-1/#comment-184 tmm Thu, 18 Dec 2008 20:29:17 +0000 http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/#comment-184 I meant he is not going to look in PA. Type faster than brain moves. I meant he is not going to look in PA. Type faster than brain moves.

]]> By: tmm http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/comment-page-1/#comment-183 tmm Thu, 18 Dec 2008 20:26:34 +0000 http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/#comment-183 Wow PHXrenter I am really surprised by your comments. I myself will be facing foreclosure here very shortly. I feel for this lady. Mine has nothing to do with mismanaging simply job layoff and economy. Hubby works for GM and they moved us all over the nation. You want to keep working for them you move where they tell you. If I had a Crystal Ball and could have forseen the future we would have taken the layoff package in 2005 and been free. But hubbies dream since age 16 was to work for GM. So we moved where they told us to the high taxed state of PA. Of course in 2005 we bought the same type of home we had in MD. The payment in MD was 1198 and the house payment in PA 1178. So we made out on the payment until tax increase came. Now we pay 751 a month in just property taxes. So our payment is 1951 a month. So when hubby is laid off from GM around March 09, I can't afford the payment on my income nor will I even attempt to make it. Instead we have a contingency plan with the home we own in NC that there is a zero house payment and 363 a year in property tax. He will collect unemploy as we make the move there and though this house is up for sale and has been for over 6 mths if it doesn't sell, I foreclose. I would be an idiot to not have food on the table and live in a home with no water, gas or electric simply to not foreclose when I have a paid for home in NC that on my income and his unemploy I can very very comfortably live. We don't want to be in PA. Never did. Only here cuz of his company and their promises of course no job is secure but you think with all his nagging of them they could have moved us to NC where we wanted to be in the first place and could survive on our incomes. Then when he was laid off, no biggy. He finds something else. But he surely is going to look for something else in PA when we don't want to be here in the first place. I will foreclose and if it ruins our credit for a time, who cares. We still have a roof over our heads and food and clothes and all we need. And under FHA you can buy another home with foreclose in 3yrs. And I guarantee when we foreclose so will about 3 million other people. Cuz they will be laid off from the auto industry as well. So PHXrenter are you going to chastize all of them as well with your holier than thou perfectionism? Wow PHXrenter I am really surprised by your comments. I myself will be facing foreclosure here very shortly. I feel for this lady. Mine has nothing to do with mismanaging simply job layoff and economy. Hubby works for GM and they moved us all over the nation. You want to keep working for them you move where they tell you. If I had a Crystal Ball and could have forseen the future we would have taken the layoff package in 2005 and been free. But hubbies dream since age 16 was to work for GM. So we moved where they told us to the high taxed state of PA. Of course in 2005 we bought the same type of home we had in MD. The payment in MD was 1198 and the house payment in PA 1178. So we made out on the payment until tax increase came. Now we pay 751 a month in just property taxes. So our payment is 1951 a month. So when hubby is laid off from GM around March 09, I can’t afford the payment on my income nor will I even attempt to make it. Instead we have a contingency plan with the home we own in NC that there is a zero house payment and 363 a year in property tax. He will collect unemploy as we make the move there and though this house is up for sale and has been for over 6 mths if it doesn’t sell, I foreclose. I would be an idiot to not have food on the table and live in a home with no water, gas or electric simply to not foreclose when I have a paid for home in NC that on my income and his unemploy I can very very comfortably live. We don’t want to be in PA. Never did. Only here cuz of his company and their promises of course no job is secure but you think with all his nagging of them they could have moved us to NC where we wanted to be in the first place and could survive on our incomes. Then when he was laid off, no biggy. He finds something else. But he surely is going to look for something else in PA when we don’t want to be here in the first place. I will foreclose and if it ruins our credit for a time, who cares. We still have a roof over our heads and food and clothes and all we need. And under FHA you can buy another home with foreclose in 3yrs. And I guarantee when we foreclose so will about 3 million other people. Cuz they will be laid off from the auto industry as well. So PHXrenter are you going to chastize all of them as well with your holier than thou perfectionism?

]]> By: Mitigator http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/comment-page-1/#comment-176 Mitigator Sat, 15 Nov 2008 22:09:24 +0000 http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/#comment-176 PHXrenter, The key to good terms in a loan modification is supply the correct information on the application. The fact that you are upside down on your mortgage makes it more attractive for the lender to keep you in your home and paying -they lose more if you sell or they foreclose. Be upfront about your expenses and income. Let the negotiator understand your circumstances. I know the process is painful and long but you don't want a bandage you want HELP. Let me know if I can help PHXrenter,
The key to good terms in a loan modification is supply the correct information on the application. The fact that you are upside down on your mortgage makes it more attractive for the lender to keep you in your home and paying -they lose more if you sell or they foreclose.

Be upfront about your expenses and income. Let the negotiator understand your circumstances. I know the process is painful and long but you don’t want a bandage you want HELP.

Let me know if I can help

]]> By: sandtmc http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/comment-page-1/#comment-175 sandtmc Sat, 15 Nov 2008 18:44:02 +0000 http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/#comment-175 Dear PHXrenter: Clearly, you are a perfect person who has never made a mistake in your life. Wow! That must be great to be so perfect in that you feel that you can judge people as you are so above it all. Have you never made a mistake? Do you not have a heart? Times are tough, and yes, it was not the best business decision, however people DO make mistakes and learn from them. I pity you - you are heartless. Dear PHXrenter:
Clearly, you are a perfect person who has never made a mistake in your life. Wow! That must be great to be so perfect in that you feel that you can judge people as you are so above it all. Have you never made a mistake? Do you not have a heart? Times are tough, and yes, it was not the best business decision, however people DO make mistakes and learn from them. I pity you – you are heartless.

]]> By: PHXrenter http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/comment-page-1/#comment-54 PHXrenter Sat, 09 Feb 2008 20:00:22 +0000 http://iamfacingforeclosure.com/blog/2008/01/02/facing-foreclosure-with-chase/#comment-54 Based on the info in your post - you were way in over your head the minute you signed your loan papers. Frankly anyone who signed a toxic loan deserves what they get - including the damaged FICO. You signed a CONTRACT. It's your fault you listened to a 6%er and bought over your head to begin with. Perhaps if you had looked into a rental back then, you'd be a lot better off right now and could actually afford a house. I don't feel sorry for you one bit. Based on the info in your post – you were way in over your head the minute you signed your loan papers. Frankly anyone who signed a toxic loan deserves what they get – including the damaged FICO. You signed a CONTRACT. It’s your fault you listened to a 6%er and bought over your head to begin with. Perhaps if you had looked into a rental back then, you’d be a lot better off right now and could actually afford a house. I don’t feel sorry for you one bit.

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