2 votes

I Want to give help to a neighbor who is losing her house.

I know i have seen numerous posts on here about how to get out of a mortgage, how to stop a foreclosure, things of that nature, but i lost track of it while focusing on the campaign. I am hoping someone here can give me some of that material as i found out this weekend my neighbors havent paid the note on their house in over a year and are going through all the lawyer bs right now. Not only do i want to help them, i also would like to find a way to get out of mine as well if possible.

Thanks, jason



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Try DPER bobbyw24

If I recall correctly he had a lot of info on mortgage fraud. At the very least do a DP search of his name and his posts.

Colchester, New London County, Connecticut

Jason,

First, you do not "get out" of your mortgage. It was paid for when you signed the deed at your closing. The "note" is that thing that we stupid people sign obligating ourselves to "pay back" the bank that risked NOTHING in the first place.

Here is a link to a web site that explains some of the process and how to get clear title to your property.

http://protectamericasdream.com/

You will have to register and claim you are not a banker, yada, yada, to have access but it has some great info.

Give us clear vision, that we may know where to stand and what to stand for - because unless we stand for something, we shall fall for anything.
~ Peter Marshall, US Senate Chaplain 1947

Linda Cross's picture

There are several ways to get out of a home loan.

The best is to pay it off or sell it and pay it off. Next is to work with your bank to modify the terms and amount of your payments so that you can continue paying, if you do a short sale (sell for less than you owe) get a short sale attorney and contact your bank. Right now many banks are paying people to do short sales rather than walk out. BOA is paying up to $20k, I just closed with a lady who was paid 5K by her bank on a 30k sale. The attorney can help to make sure that you don't end up with a deficit to pay later, and they negotiate with the bank. The absolute worst thing that anyone can possibly do is to just stop making payment, not contact the bank, and wait to see what happens. Unfortunately, many take that route. I'm not a lawyer, the preceeding is just IMHO.

If you see something, say something, the government is listening.
Silence isn't golden, it's yellow.

I am a Consumer Advocate

I help people save their houses or at least delay the inevitable for as long as possible. This is what I do for a living. I file Chpt 7 or 13 to stop sheriff sales, prepare loan modification requests, deal with the IRS, and basically play every card in the consumer's hand, depending on the individual situation. Mainly, I relieve a lot of anxiety and allow people to see a clear path out of the burden and stress that financial problems cause. I am a mechanical engineer,I could do something else and make more money, I choose to do this for a living because I am helping people. Contact me.

I helped my neighbor to no avail

My neighbor was undergoing some medical and financial issues. I took heart with her story, along with some personal interests, like: decrease in my own property value with all the foreclosures in the neighborhood, as well as, who the hell is gonna be my new neighbor.

I offered help. I found her a renter. This guy has kept this house and property in great shape for the last year. She pocketed the money, hasn't paid her mortgage, and now my friend will be kicked out soon. If I had the means to buy the property I would, cause my friend really wants to continue renting there.

I'm with the "you signed a contract crowd." I've been placed in the same boat with the easy money, and parents who pressured me into buying and not throw money away to the landlord (it's an asset). I've been down and out a few times since '07. I've had banks call me nonstop and send me foreclosure letters. Who know's how many late fees I might still owe? Recently found myself falling behind again (still found a way to donate to RP), and just like all those other times: DIG IN, ROLL UP YOUR SLEEVES, AND WORK YOUR WAY OUT OF IT!!!

I don't have any kids, but if my house is any indication of how I'll be as a father, my kids will have their father do anything to get through the lean times. Now dig in and buck up!

In the beginning of a change the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot.

My mother was in the same situation

She managed to get a reverse mortgage, it was the only way she kept the house

But I think age may have something to do with getting approved, not sure.

We tried everything to help save her house, we don't have that much money to help.

I lost a house in NJ when I was around 30. I tried to work with the bank, sell the house within $5000 of the payoff, they could care less.

I eventually just packed up a u-haul, shut the front door of the house and left for NC

Never regretted a thing after that, I am very happy.. it's not the end of the world - even though it seems so at the time.

Hope everything works out. It's nice you want to help

Thanks for the advice

I am curious about some of the wilder things that i have seen on here though. Does any of the "own the deed stuff" work, or is that all just bs? I freely admit that im a newby when it comes to things like this. But some of the stuff, from what i remember, seemed to be pretty tempting. I am exploring all this with an open mind, just like i do with everything else i learn now that i am awake, amd trying to be more alert with every passing day.

voluntarily agorist

are you talking about

a quitclaim deed?

I dont know exactly.

Like i said, ive read lots of different things about mortgages on here, and i should have saved them, but i didnt. Now im trying to navigate my way through and find the best options.

voluntarily agorist

BMWJIM's picture

Jason, I mean no disrespect but I signed a contract!

If your friend(s) signed a contract then they must do as I, and pay what they signed up for.

I don't mean to sound heartless but the Good Doctor is ALL ABOUT THE RULE OF LAW(Including Bankruptcy Law). If you are looking to subvert the rule of law then you have no understanding of the good doctors position.

Why should I pay my Mortgage if my neighbor doesn't pay his/hers. Why should I pay my NEIGHBORS mortage through taxes! Well I would expect my neighbor to claim bankruptcy and lose thier home. The RULE OF LAW is just that.

I do not want to get out of my contract I signed freely but, Hell and be DAMNED those of you that feel the rule of law is wrong!

Jim

1976-1982 USMC, Having my hands in the soil keeps me from soiling my hands on useless politicians.

Jim

I understand an respect your position. In 99 times out of 100, i would agree with you. But i signed that contract before i awoke to find myself living for THEM, and not myself. I feel that if i had known that i was borrowing money they had just made up right when i sined the contract, and cost them nothing, but which thenallowed them to seize the property if i dont pay, i would never have signed. Now i am not likely to do something like walking away from it, but if it is true that there is an original mortgage note that says something like there is more than one way to satisfy the contract, like paying 5 dollars in gold, or some ridiculous thing lile that that they will never tell you about, i want to know about it!

Jason

voluntarily agorist

And as for my neighbor,

Shes gonna get thrown out in the street. Why shouldnt she try whatever she can to save herself?

voluntarily agorist

Sorry to hear

about your neighbor. Here is a link to pro bono's and also look into class actions on the banks. Most have already settled most states have recieved the settlement funds.

http://apps.americanbar.org/legalservices/probono/directory....

http://www.mortgageservicingnews.com/msn_features_reo/servic...

HUD in your area should have more info. Unfortunately a lot of these "programs" are for ppl whom are not late on their Mtgs. Which makes no sense. However, Let it not be said you didn't try....

Not sure what state your in so I couldn't be more detailed. Filing for a BK will stop a foreclosure, most states have a homestead exemption and depending on what type of BK is being filed interest and pmts can be reduced. Short selling is another way. Now you won't get anyting for it especially if you have no equity and are under water. The bank has to approve the short sell. It can take a while...

Hope it was helpful.

another

thing I didn't ask is do you have an impound account for your taxes and insurance?

If you don't

Look into setting one up. It takes all the worry out of the tax and ins when they come due. Impound acct will be added to you monthly mrg pmt. They usually take more than they need in estimation of what will be needed in the impound acct over a 12 month period. However, your taxes & Hazard Ins pmt is made by the bank when it comes due from the acct. If there is overage at the end of the year you can choose to have them cut your a check or leave it in the impound acct. A lot easier that way.

Short Sell her house...and yours too. Call a realtor they

got that $hit down pat. Iit saves your credit rating a bit and OH MY GOD...I had NO idea how freeing it would be to be out from under that mortgage. I now live in what is essentially a master bedroom with a kitchen but my wife and I LOVE IT.

No grass to mow, no pool to clean, no dirty garage to look at and get stressed because I know I should clean it out, etc. Minimizing has been the bomb for us. We are set for when the economy tanks and once we all get through that...then we will begin to move up again...if we ever even want to. We are as free from the chains of bondage as we can possilbly be right now and lovin life.

I can handle

the mortgage. It's the property taxes that are out of control, ridiculous. My yearly tax rate is 6% the current value of my house.

To my Liberal Trolls:
"Really Don't mind if you sit this one out. Your words but a whisper, your deafness a shout. I may make you feel, but I can't make you think."
Ian Anderson 1972