Fighting Foreclosures, Not letting illegal foreclosures from happening Options

[Venus]

Make sure you have ALL the paper work you signed when your closed on your mortgage handy,
Since you have been foreclosed on you now can raise TLIA or RESPA violations as a defense, I hope your loan was as dirty as mine was.
http://creditboards.com/forums/index.php?showtopic=390768

This is so far from my field of expertise, it is Greek to me. I started to read your first post about the three-day right to rescind but a week has already passed since it was sold.

I do hope NACA can do something.

I am going to go back and see if I can understand what happened to you. Did you get your house back after a foreclosure?

[Googie]

[bonbonXO]

Make sure you have ALL the paper work you signed when your closed on your mortgage handy,
Since you have been foreclosed on you now can raise TLIA or RESPA violations as a defense, I hope your loan was as dirty as mine was.
http://creditboards.com/forums/index.php?showtopic=390768

This is so far from my field of expertise, it is Greek to me. I started to read your first post about the three-day right to rescind but a week has already passed since it was sold.

I do hope NACA can do something.

I am going to go back and see if I can understand what happened to you. Did you get your house back after a foreclosure?

We were not in foreclose, so we are still in our home but we have still not gone through the whole process yet, been in court since April, but we have knocked off 100K off our loan.
If your loan started out with TILA/RESPA violations and then illegally foreclosure on, you have have a really good case, you just need to find an Attorney, and it sounds like you have an excellent referral. It may not be to late for you, but that is what Attorneys are for. 85% of loans written within the last 4-5 years have TILA/RESPA violations usually their is only a three SOL to rescind (this is what we did) but you can raise this as a defense in a foreclosure any time. What I am saying is only valid if you have TILA/RESPA violations. I have been working with my Senator's office, helping get people to either the attorney that we are working with or others that I have met along the way. So at least at a high level, I have a pretty good understanding of the process and the laws, even if I write backwards now and again.
All attorney's fee are recoverable from the defendant (your lender) in a TILA/RESPA suit.

Go make a Martini, pour a glass of wine, open a beer or make a cup of herb tea and go chill out. Find your loan docs tomorrow, your attorney is going to want to see all the paperwork from you refi-
And let us know how you do!

This post has been edited by bonbonXO: Nov 14 2009, 11:39 PM

[Venus]

Make sure you have ALL the paper work you signed when your closed on your mortgage handy,
Since you have been foreclosed on you now can raise TLIA or RESPA violations as a defense, I hope your loan was as dirty as mine was.
http://creditboards.com/forums/index.php?showtopic=390768

This is so far from my field of expertise, it is Greek to me. I started to read your first post about the three-day right to rescind but a week has already passed since it was sold.

I do hope NACA can do something.

I am going to go back and see if I can understand what happened to you. Did you get your house back after a foreclosure?

We were not in foreclose, so we are still in our home but we have still not gone through the whole process yet, been in court since April, but we have knocked off 100K off our loan.
If your loan started out with TILA/RESPA violations and then illegally foreclosure on, you have have a really good case, you just need to find an Attorney, and it sounds like you have an excellent referral. It may not be to late for you, but that is what Attorneys are for. 85% of loans written within the last 4-5 years have TILA/RESPA violations usually their is only a three SOL to rescind (this is what we did) but you can raise this as a defense in a foreclosure any time. What I am saying is only valid if you have TILA/RESPA violations. I have been working with my Senator's office, helping get people to either the attorney that we are working with or others that I have met along the way. So at least at a high level, I have a pretty good understanding of the process and the laws, even if I write backwards now and again.
All attorney's fee are recoverable from the defendant (your lender) in a TILA/RESPA suit.

Go make a Martini, pour a glass of wine, open a beer or make a cup of herb tea and go chill out. Find your loan docs tomorrow, your attorney is going to want to see all the paperwork from you refi-
And let us know how you do!

I like your comment about the Martini <grin> Perhaps it is what I need. I have been panicking for almost two days straight wondering when I am going to get kicked out of what was my home, where I will go, what I will do, etc., etc. My whole life feels as if it has been turned upside down.

I am also asking where is our government? Why are they not preventing these catastrophes that just do not have to happen?

[bonbonXO]

You raise some excellent questions, in addition to finding an attorney, you may want to reach out to your (Dem) Senator, local news and perhaps the Attorney General Office in MI (this will take the longest) but if several other citizens in Michigan have similar complaints against Chase, than your complaint may the one they need to start a "formal" investigation on be half of the state. If not they will just act as a mediator.

I by no means think our government ( I am from Illinois, for God Sake) walks on water but if they are not aware of these problems, they can't help, and I am a firm believer that the squeaky wheel gets the grease (and the Martinis) or however that old saying goes.

If you have your Loan docs handy look a the Truth in Lending Disclosure
your payment frequency must be listed as Monthly (or whatever the terms were)
if it has been left Blank that is a TILA violation, this is a HAMM violation
it is named after the case HAMM v I don't remember,
but there is case law on this particular TILA violation and it is one of the most common violations.

This post has been edited by bonbonXO: Nov 15 2009, 11:56 AM

[Venus]

You raise some excellent questions, in addition to finding an attorney, you may want to reach out to your (Dem) Senator, local news and perhaps the Attorney General Office in MI (this will take the longest) but if several other citizens in Michigan have similar complaints against Chase, than your complaint may the one they need to start a "formal" investigation on be half of the state. If not they will just act as a mediator.

I by no means think our government ( I am from Illinois, for God Sake) walks on water but if they are not aware of these problems, they can't help, and I am a firm believer that the squeaky wheel gets the grease (and the Martinis) or however that old saying goes.

If you have your Loan docs handy look a the Truth in Lending Disclosure
your payment frequency must be listed as Monthly (or whatever the terms were)
if it has been left Blank that is a TILA violation, this is a HAMM violation
it is named after the case HAMM v I don't remember,
but there is case law on this particular TILA violation and it is one of the most common violations.

Interestingly, I have already been in touch with that senator on another issue. He will be hearing from me again tomorrow on this issue.

[sirrowan]

Technically yes. There is three parts to buying a house at closing.

The first is the assignment of the title. This puts your name on the title of the property and says you own this property and it belongs to you.

The second is the note. The note defines how payments are going to be made and to who they are going to be paid to. It defines the monthly payment, interest rates, etc.

The final piece is the mortgage. This is the security that says in the event the note is not paid they have the right to take the property sell it, etc. It is the lien on the property.


The only person allowed to foreclose on a house is the person who owns the mortgage. If the owner of the mortgage can not be found or the person foreclosing can not prove that they legally own the mortgage. Then a request for rescission is completed saying that there is no mortgage. Having the disconnect between a Note and Mortgage means that the loan went from secured to an unsecured loan. This means that no one can then foreclose on you ever. Do you still owe the money? maybe and that's a different fight because now you are just fighting a really really really large credit card bill basically (unsecured loan).

Very interesting. In my case, I have just filed BK7 and included the house so we wouldnt owe anything. Would this still work in a case of filing BK7?

Go to livinglies website and read about bankruptcy and objections that should be made at hearing. They involve the TILA, RESPA, etc. that people use to rescind loans. It's not so easy to rescind a loan though. Read the bk stuff on that site and then discuss it with your lawyer.

You need to decide if you want to keep the house or not, then formulate a plan. The more violations you can rack up, and whether or not the forecloser/illeged owner of note can actually produce the wet signature note will give you leverage to write down loan, etc. There are even cases out there where BK Judges have denied a lift from stay because the illeged owner of the note cannot produce anything that proves they own squat. Some of these judges have even fully discharged the debt, meaning they stripped it from the home and the lender got NOTHING.

There is also the issue of Quiet Title.

Anyways go read about the BK info and the objections, etc. to raise and discuss with your attorney.

Well, that's what I'd do.......