WINNING THE FIGHT AGANST FORECLOSURE
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DON'T GET PUNK'D
Winning the fight, against, home foreclosure, in most cases is just a matter of, not allowing fear, and frustration to cause you to give up.
If you have not thrown in the towel, you have better than a fighting chance to [KEEP YOUR HOME.]
Her are some facts that may help you to regain your determination to stay put.
1. Possession is 9 points of the law: If you are currently in your home, you have possession of it and that counts more than you may think.
2. There are laws, that are enforced, that dictate how mortgage companies and banks are supposed to maintain their paper work.
3. In most cases once the mortgage company or bank, had your signature on the “dotted line,” your loan was packaged (put into a bundle with other loans) and after extracting a certain % or the total interest to be made over the life of the loan, the bank or mortgage company sold it.
4. The investor, or smaller loan company that bought the package, then did the same thing, took a % of the long term interest potential of the loan, and resold it in another, or the same bundle.
5. To the banks and mortgage companies, this was such a fast way, to make, such large sums of money; in many cases, though your original mortgage company; my still collect (service) the loan, they don not have the slightest idea who the current owner of the loan may be, or where the important paper work needed to establish legal authority to collect on the mortgage [is.]
6. This works in your favor because, if you challenge the mortgage company and demand that they produce these important documents, the [Original Promissory Note] [Original Loan Contract] [Assignment of Mortgage] giving the mortgage contract holder their authority to collect monthly mortgage payments, and they can not produce them, or cannot find them, this is something…you can use as leverage to force the mortgage company to modify your loan, and in some cases, depending on the temperament of the court, resend the mortgage contract entirely.
The process begins when you decide, to file an injunction which will put a temporary hold on the foreclosure process.
The next step is to demand that the proper paper work be brought forth. Allow a certain amount of time (20) days for the paper work to be presented, have it checked out and depending on what you find proceed from there.
The only reason mortgage companies are in such a hurry to foreclose on home owners, is because they know they have screwed up on the paperwork they should have, and are therefore vulnerable to massive loses once the home owners find out, and take steps to protect them selves.
Don’t roll over and play dead stand up for your rights and keep your family in their home.
Disclaimer: This hub is not meant to be any type of legal advice but just a word of encouragement meant to give you hope.
The "ATTACHED" letter is provided to give you some idea of what the average request to a mortgage company for documents looks like.
The link is provided to direct you to legal assistance that can help you stand up for your self.
________________________________________________________________________
Attention Customer Service:
Subject: @LoanNumber@
@BorrowerName@@CoBorrowerName@
@PropertyStreet@ @PropertyCity@ @PropertyState@ @PropertyZip@
This is a "qualified written request" under Section 6 of the Real Estate Settlement Procedures Act (RESPA).
I am writing because:
- Describe the issue or the question you have and/or what action you believe the lender should take.
- Attach copies of any related written materials.
- Describe any conversations with customer service regarding the issue and to whom you spoke.
- Describe any previous steps you have taken or attempts to resolve the issue.
- List a day time telephone number in case a customer service representative wishes to contact you.
I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days.
Sincerely,
[Your name]
