Summary:
New home purchased in 2008, laid off later that year and relocated out of city to take a new job. Couldn't maintain payments at both locations, home prices had dropped too much to sell. Stopped making payments the end of 2008, but home is still in pending foreclosure status.
We began reviewing contracts and noticed numerous discrepancies. Loan should have been in Husband's name exclusively with Deed in both spouses name. This was a last minute change, so many docs got messed up in the process.
Examples:
- Loan doc has box selected that PMI is not required in two locations, yet other docs include PMI (Causes some calculations to be incorrect)
- Wife listed as borrower and builder's attorney has her sign in numerous locations on the contract as a buyer, but didn't have her sign Hud-1 Settlement Statement, RESPA, etc. Did not sign to allow corrections for errors to be made. Some locations also have changes made that are not initialed.
- TILA amount incorrect
- Title company forgot to sign one document, when it was returned to them for signature they placed a stamp on it saying that too much time had passed to correct.
We contacted an attorney back in 2008, but didn't have the thousands needed to retain him. Are there any options available in regard to the contract that we can pursue on our own before it's too late? How can wife be called a borrower, but not have to be given HUD-1 Statement, Respa, etc? How does the missing signature from the title company play into it? Any thoughts on the loan doc saying no PMI required, but then us paying PMI each month. (PMI cost us over $400/mo.)
Lender has already filed paperwork with the courthouse that has been approved to have a substitute trustee assigned. They submitted Deed of Trust which names both individuals as borrowers. The days are numbered before the foreclosure is processed.
Thanks in advance!
QUOTE (HoustonBunch @ Sep 22 2009, 11:09 AM) 
Summary:
New home purchased in 2008, laid off later that year and relocated out of city to take a new job. Couldn't maintain payments at both locations, home prices had dropped too much to sell. Stopped making payments the end of 2008, but home is still in pending foreclosure status.
We began reviewing contracts and noticed numerous discrepancies. Loan should have been in Husband's name exclusively with Deed in both spouses name. This was a last minute change, so many docs got messed up in the process.
Examples:
- Loan doc has box selected that PMI is not required in two locations, yet other docs include PMI (Causes some calculations to be incorrect)
- Wife listed as borrower and builder's attorney has her sign in numerous locations on the contract as a buyer, but didn't have her sign Hud-1 Settlement Statement, RESPA, etc. Did not sign to allow corrections for errors to be made. Some locations also have changes made that are not initialed.
- TILA amount incorrect
- Title company forgot to sign one document, when it was returned to them for signature they placed a stamp on it saying that too much time had passed to correct.
We contacted an attorney back in 2008, but didn't have the thousands needed to retain him. Are there any options available in regard to the contract that we can pursue on our own before it's too late? How can wife be called a borrower, but not have to be given HUD-1 Statement, Respa, etc? How does the missing signature from the title company play into it? Any thoughts on the loan doc saying no PMI required, but then us paying PMI each month. (PMI cost us over $400/mo.)
Lender has already filed paperwork with the courthouse that has been approved to have a substitute trustee assigned. They submitted Deed of Trust which names both individuals as borrowers. The days are numbered before the foreclosure is processed.
Thanks in advance!
New home purchased in 2008, laid off later that year and relocated out of city to take a new job. Couldn't maintain payments at both locations, home prices had dropped too much to sell. Stopped making payments the end of 2008, but home is still in pending foreclosure status.
We began reviewing contracts and noticed numerous discrepancies. Loan should have been in Husband's name exclusively with Deed in both spouses name. This was a last minute change, so many docs got messed up in the process.
Examples:
- Loan doc has box selected that PMI is not required in two locations, yet other docs include PMI (Causes some calculations to be incorrect)
- Wife listed as borrower and builder's attorney has her sign in numerous locations on the contract as a buyer, but didn't have her sign Hud-1 Settlement Statement, RESPA, etc. Did not sign to allow corrections for errors to be made. Some locations also have changes made that are not initialed.
- TILA amount incorrect
- Title company forgot to sign one document, when it was returned to them for signature they placed a stamp on it saying that too much time had passed to correct.
We contacted an attorney back in 2008, but didn't have the thousands needed to retain him. Are there any options available in regard to the contract that we can pursue on our own before it's too late? How can wife be called a borrower, but not have to be given HUD-1 Statement, Respa, etc? How does the missing signature from the title company play into it? Any thoughts on the loan doc saying no PMI required, but then us paying PMI each month. (PMI cost us over $400/mo.)
Lender has already filed paperwork with the courthouse that has been approved to have a substitute trustee assigned. They submitted Deed of Trust which names both individuals as borrowers. The days are numbered before the foreclosure is processed.
Thanks in advance!
If the lender has filed paperwork, does that mean that you already received your 20 day demand from them?
Have you looked at the court documents? Are they legitimate? Does MERS show up anywhere on the documents?
I'm not familiar with a 20 day demand. Up until summer it was going up for sale on the courthouse steps and then being pulled. It's been 3-4 months since we've heard anything lately. No additional paperwork has been filed with the courthouse.
MERS is on the document . We are both listed as the borrower on this form. Each is stamped "unofficial document" on it. Nothing stands out on these pages.
The errors are on the note, disclosures, etc.
MERS is on the document . We are both listed as the borrower on this form. Each is stamped "unofficial document" on it. Nothing stands out on these pages.
The errors are on the note, disclosures, etc.
One additional bit of info...not sure if it's relevant.
My name is misspelled on the Deed, but spelled correctly after corrections on the Deed of Trust.
Will a misspelling combined with the other errors influence anything?
My name is misspelled on the Deed, but spelled correctly after corrections on the Deed of Trust.
Will a misspelling combined with the other errors influence anything?
QUOTE (HoustonBunch @ Sep 24 2009, 12:21 PM)
I'm not familiar with a 20 day demand. Up until summer it was going up for sale on the courthouse steps and then being pulled. It's been 3-4 months since we've heard anything lately. No additional paperwork has been filed with the courthouse.
MERS is on the document . We are both listed as the borrower on this form. Each is stamped "unofficial document" on it. Nothing stands out on these pages.
The errors are on the note, disclosures, etc.
MERS is on the document . We are both listed as the borrower on this form. Each is stamped "unofficial document" on it. Nothing stands out on these pages.
The errors are on the note, disclosures, etc.
How is MERS on the document? Has your Note and Mortgage been assigned to anyone other than the original holders of both? By MERS?
It's an appointment of trustee document replacing the old trustee with the new one. It was originally typed up to say April 3, but that is crossed out and uninitialed to now say April 10th. It was filed on April 22nd. At the very bottom April 25 appears to be listed as another filing date.
It basically just says that the owner/beneficiary of the Deed in Trust removes the old trustee and appoints this substitute trustee and gives all new permissions to them. It says here that the document was executed on April 3rd. They did not change the date on this section, unlike the other.
Lastly, it just says that MERS is the nominee for lender and lender successors and assigns. The assistant secretary to MERS appeared before the notary. (This is where the date is crossed out.)
There is no specific mention of the note. So far, other then the original Deed of trust filed back in Jan/2008, this is the only other document that has been filed with the county and accessible. (We called and were told that the docs are updated within 48 hrs, so we are assuming that there's nothing else yet.)
Thoughts?
It basically just says that the owner/beneficiary of the Deed in Trust removes the old trustee and appoints this substitute trustee and gives all new permissions to them. It says here that the document was executed on April 3rd. They did not change the date on this section, unlike the other.
Lastly, it just says that MERS is the nominee for lender and lender successors and assigns. The assistant secretary to MERS appeared before the notary. (This is where the date is crossed out.)
There is no specific mention of the note. So far, other then the original Deed of trust filed back in Jan/2008, this is the only other document that has been filed with the county and accessible. (We called and were told that the docs are updated within 48 hrs, so we are assuming that there's nothing else yet.)
Thoughts?
QUOTE (HoustonBunch @ Sep 24 2009, 07:27 PM)
It's an appointment of trustee document replacing the old trustee with the new one. It was originally typed up to say April 3, but that is crossed out and uninitialed to now say April 10th. It was filed on April 22nd. At the very bottom April 25 appears to be listed as another filing date.
It basically just says that the owner/beneficiary of the Deed in Trust removes the old trustee and appoints this substitute trustee and gives all new permissions to them. It says here that the document was executed on April 3rd. They did not change the date on this section, unlike the other.
Lastly, it just says that MERS is the nominee for lender and lender successors and assigns. The assistant secretary to MERS appeared before the notary. (This is where the date is crossed out.)
There is no specific mention of the note. So far, other then the original Deed of trust filed back in Jan/2008, this is the only other document that has been filed with the county and accessible. (We called and were told that the docs are updated within 48 hrs, so we are assuming that there's nothing else yet.)
Thoughts?
It basically just says that the owner/beneficiary of the Deed in Trust removes the old trustee and appoints this substitute trustee and gives all new permissions to them. It says here that the document was executed on April 3rd. They did not change the date on this section, unlike the other.
Lastly, it just says that MERS is the nominee for lender and lender successors and assigns. The assistant secretary to MERS appeared before the notary. (This is where the date is crossed out.)
There is no specific mention of the note. So far, other then the original Deed of trust filed back in Jan/2008, this is the only other document that has been filed with the county and accessible. (We called and were told that the docs are updated within 48 hrs, so we are assuming that there's nothing else yet.)
Thoughts?
You need to print off every document and find an attorney who deals with real estate. Free consultation. Act like you've got all the money in the world. See what they say. Make multiple appointments with multiple attorneys. Don't tell them that you are talking to anyone else. Again see what they say.
MERS is under extreme scrutiny right now. Just sayin'.
I'm no expert. But there is a ton of info out there about what's going on with foreclosures. MERS is part of it. They are exercising rights that they don't have to exercise.
You need to make sure that whomever claims to have title to your property actually has legal claim to your property along with the right to foreclose. There is a thread started by NoMoreFema or some such toward the top of this forum. Go to the links and read. Go to every link available and read read read. There is a chance that like I said, whomever is claiming title to your property, doesn't have a clean chain of title to do so.
READ. READ. READ. Then go back and look at your Note, Mortgage and Assignments with a microscope.
I'm not trying to be difficult, its just that every situation is different and I'm in OHIO and our laws are totally different than yours.
GOOD LUCK!!!!!!!!!!!!!!!!!!
And just remember that its just a material possession. You can always get another. Just think about your family. That is what matters. You are together, ya know?
You need to make sure that whomever claims to have title to your property actually has legal claim to your property along with the right to foreclose. There is a thread started by NoMoreFema or some such toward the top of this forum. Go to the links and read. Go to every link available and read read read. There is a chance that like I said, whomever is claiming title to your property, doesn't have a clean chain of title to do so.
READ. READ. READ. Then go back and look at your Note, Mortgage and Assignments with a microscope.
I'm not trying to be difficult, its just that every situation is different and I'm in OHIO and our laws are totally different than yours.
GOOD LUCK!!!!!!!!!!!!!!!!!!
And just remember that its just a material possession. You can always get another. Just think about your family. That is what matters. You are together, ya know?
Thanks for your assistance. We have contacted numerous real estate attorneys, but so far the main theme when we begin to speak with them seems to be:
"You bought a house, didn't pay and now want out for free. Sorry, not interested in that kind of case even if you can win."
Anyway, you get the idea. We have numerous issues on our contract and they are not just clerical in nature. It seems unfair that when a business sues due to a bad contract, that is considered just "business", but if a homeowner wants to make a petition, we are somehow less moral because of it.
Has anyone put together a list of attorneys for different states that will take on these cases? Are there any class actions that have already begun? Are there any non profit organizations that will help with fighting an invalid contract rather then just pushing you to do a modification?
Thanks in advance! We understand that it's just a house..heck, it's a house we haven't seen in 9 months. We don't have any attachments to the house per se, but the job/credit repercussions concern us greatly. We don't want to give up without giving it our best argument.
"You bought a house, didn't pay and now want out for free. Sorry, not interested in that kind of case even if you can win."
Anyway, you get the idea. We have numerous issues on our contract and they are not just clerical in nature. It seems unfair that when a business sues due to a bad contract, that is considered just "business", but if a homeowner wants to make a petition, we are somehow less moral because of it.
Has anyone put together a list of attorneys for different states that will take on these cases? Are there any class actions that have already begun? Are there any non profit organizations that will help with fighting an invalid contract rather then just pushing you to do a modification?
Thanks in advance! We understand that it's just a house..heck, it's a house we haven't seen in 9 months. We don't have any attachments to the house per se, but the job/credit repercussions concern us greatly. We don't want to give up without giving it our best argument.
QUOTE (HoustonBunch @ Sep 25 2009, 08:34 AM)
Thanks for your assistance. We have contacted numerous real estate attorneys, but so far the main theme when we begin to speak with them seems to be:
"You bought a house, didn't pay and now want out for free. Sorry, not interested in that kind of case even if you can win."
Anyway, you get the idea. We have numerous issues on our contract and they are not just clerical in nature. It seems unfair that when a business sues due to a bad contract, that is considered just "business", but if a homeowner wants to make a petition, we are somehow less moral because of it.
Has anyone put together a list of attorneys for different states that will take on these cases? Are there any class actions that have already begun? Are there any non profit organizations that will help with fighting an invalid contract rather then just pushing you to do a modification?
Thanks in advance! We understand that it's just a house..heck, it's a house we haven't seen in 9 months. We don't have any attachments to the house per se, but the job/credit repercussions concern us greatly. We don't want to give up without giving it our best argument.
"You bought a house, didn't pay and now want out for free. Sorry, not interested in that kind of case even if you can win."
Anyway, you get the idea. We have numerous issues on our contract and they are not just clerical in nature. It seems unfair that when a business sues due to a bad contract, that is considered just "business", but if a homeowner wants to make a petition, we are somehow less moral because of it.
Has anyone put together a list of attorneys for different states that will take on these cases? Are there any class actions that have already begun? Are there any non profit organizations that will help with fighting an invalid contract rather then just pushing you to do a modification?
Thanks in advance! We understand that it's just a house..heck, it's a house we haven't seen in 9 months. We don't have any attachments to the house per se, but the job/credit repercussions concern us greatly. We don't want to give up without giving it our best argument.
Did you read the link in NoMoreFema's thread? You need to. You need to seriously go out to the internet and start researching how to defend your forclosure! If there are valid issues due to fraudulent assignments, etc., then those are valid defenses.
The problem with the attorneys your talking to is more than likely due to the fact that they are pro-bank etc. That may be where they get their business. They don't want to go on record against their most valuable customers.
You are in Texas. Start doing research about fraudulent mortgage forclosures for your state. You WILL find what you need. You can always file pro se.
Not sure what is going on with you. 
But I found some interesting information regarding TILA violations and recission of a loan. It's some sort of information going before the gov't.
It discusses TILA and is riddled in case law. This may be what you need, if you are wanting to rescind the loan?
Anyways, here it is....
http://www.rcxloan.com/Civil_Action__BK__Motion_14.htm
But I found some interesting information regarding TILA violations and recission of a loan. It's some sort of information going before the gov't.
It discusses TILA and is riddled in case law. This may be what you need, if you are wanting to rescind the loan?
Anyways, here it is....
http://www.rcxloan.com/Civil_Action__BK__Motion_14.htm
I'm a new user, I don't think PMs are allowed yet. I'll have to check the settings to see.
QUOTE (HoustonBunch @ Sep 28 2009, 11:05 AM)
I'm a new user, I don't think PMs are allowed yet. I'll have to check the settings to see.
Well that just outright pisses me off. I sent you a pm and saved a copy to my sent box. It doesn't show up.
Try here to get some answers and research some stuff.
www dot msfraud dot org
If you have about $500 to do a forensic audit of your mortgage/loan/note then it will be easy to prove that the people that are foreclosing on you do not have the right to do so.
If you want to get further help, please post copies of your docs with your personal info redacted and perhaps myself and others can be of more assistance.
When you received your paperwork in the mail, EXACTLY what documents were included?
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.