Avoid Foreclosure

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Reality Check on Real Party in Interest / “Produce The Note” Strategy

Contributed by Kevin Chern, Total Attorneys, Inc.
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Homeowners facing foreclosure are, understandably, looking for hope. News reports of homeowners successfully asserting the “produce the note” defense to stop foreclosure have sparked that hope in many. It seems only logical that a [...]

8Mar2010 | iaff_staff | 0 comments | Continued
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Anatomy of a Government-Abetted Fraud: Why Indymac/OneWest Always Forecloses

The shocking tale of why IndyMac/OneWest virtually always forecloses — even though it is a HAMP program participant! It all comes down to the sweetheart deal OneWest got from the government when the FDIC shut down IndyMac and sold it off. Once again taxpayers have been far more generous than they know! This article also drops a few hints on potential strategies, for those fighting OneWest/IndyMac foreclosures.

1Dec2009 | PatPulatie | 11 comments | Continued
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HOWTO: Loan Audits and Qualified Attorneys

As co-founder of a Mortgage Fraud Examination firm, I have talked to many of the best auditors in the country. Here is what you should consider before you spend more money towards your legal defense of your home.

17Nov2009 | admin | 0 comments | Continued
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The Trouble With MERS

MERS was conceived in the early 1990’s by numerous lenders and other entities. Chief among the entities were Bank of America, Countrywide, Fannie Mae, Freddie Mac, and a host of other such entities. The stated purpose was that the creation of MERS would lead to “consumers paying less” for mortgage loans. Obviously, that did not happen. This article will attempt to explain MERS in very general detail. It will cover a few issues related to MERS and foreclosure, in order to introduce the reader to the issues of MERS. [Note: article contains discussion of recent Landmark vs Kesler decision in Kansas].

24Sep2009 | PatPulatie | 2 comments | Continued
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Why Aren’t Lenders Doing More Loan Modifications?

Daily, in the newspapers, radio, television and the internet, articles are written about the difficulty that borrowers face in getting loan modifications. At the same time, the Federal Government and the Obama Administration announce new programs to assist homeowners in getting loan modifications. These programs are going to solve the problems that homeowners have, and are going to save their homes. Yet, closer inspection of the program’s details raises. Next, states like California decide to try and pass legislation to prevent homeowners from paying money upfront to loan modification companies and attorneys for assistance in dealing with the Lenders and Servicers. Then, the President even declares that homeowners should not pay for loan modifications and that their lenders and servicers are doing the modifications for free.
Who does a homeowner believe? What is the real truth? This article will attempt to shed some light on the issues. I will focus primarily upon loans that have been securitized.

26Aug2009 | PatPulatie | 4 comments | Continued
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TILA and RESPA Rescission Ineffective In Real-World Foreclosure Defense

When facing foreclosure, the homeowner is always confronted with the difficult task of researching information to acquaint him or her with what to expect in the coming months. This research will include a number of different subjects covering such issues as the foreclosure process, loan modification, legal statutes, and current trends. Somewhere in the process of researching this information, the homeowner will come across the subject of forensic loan audits and TILA and RESPA. The question then becomes, “What is TILA and RESPA and how can it help me?”

13Aug2009 | PatPulatie | 3 comments | Continued
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Bush Administration Proposes New Foreclosure Plan

The Bush Administration proposed a new foreclosure relief plan today in response to the mortgage crisis. The plan encourages lenders to write down loans and shift risk to the government-backed FHA program.

9Apr2008 | iaff_staff | 4 comments | Continued
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Project Lifeline: A Lifeline for You or a Lifeline for Banks?

Project Lifeline is the new relief plan that grants a 30-day grace period to homeowners facing foreclosure proceedings. Critics say the plan is for banks, not homeowners.

25Feb2008 | iaff_staff | 3 comments | Continued
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I’m distressed and scared about losing my home!

I am facing foreclosure – Homeowner Story
After 33 years working for the same company, I ended up on permanent disability due to 4 heart attacks and a stroke. Refinanced my house in August 2004 in order to be able to handle payments and pay off some bills.
Thought I was taking out a 30 yr fixed [...]

18Feb2008 | Moe Bedard | 1 comment | Continued
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Countrywide Announces Historic Subprime Relief Plan

Countrywide Financial Corp. has teamed up with the Association of Community Organizations for Reform Now (ACORN) to help subprime borrowers avoid foreclosure. All of Countrywide’s borrowers with subprime loans will be eligible for relief, according to an announcement made earlier today.

11Feb2008 | iaff_staff | 0 comments | Continued
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