Three Workarounds To Stop Foreclosure

There is no doubt that the stopping foreclosure key starts with the timing of the initial debtor action. The most common cause of losing your home results from waiting too long to respond to a foreclosure notice or not reacting at all. Contrary to popular belief, there are dozens of ways to stop foreclosure.

You should call your lender before falling behind on your payments. If the lender will not work with you and you cannot make up the missed payments, here are a few other options to stop foreclosure:

• Sell Your Home

Meet real estate agents to get an opinion of market value and average DOM to sell your home. Compare between discount broker and full-service broker to determine which best meets your needs and time frame.

• Consider a Short Sale

It affects credit but it’s not as bad as a foreclosure. You will negotiate with your lender to find out if he will cooperate on a short sale. This is called a pre-foreclosure redeemed.

• Sign a Deed-in-Lieu of Foreclosure

The homeowner provides the lender a properly prepared and notarized deed, and the lender forgives the mortgage, effectively canceling the foreclosure action. This is called deeding the home back to the lender.

Regardless of the actions chosen for the prevention or stop of the foreclosure everything is based on your ability to communicate successfully with your bank or request the help of a third party to represent you in the negotiations and come to the best solution for you.

Pro Se Primer 101 – No. 2 – Security Instrument: Pivotal In Your Fight Against Foreclosure Fraud

Judge: [responding to a Borrower]

Mr. Borrower, at Cornell University they have an incredible piece of scientific equipment known as the Tunneling Electron Microscope. Now, this microscope is so powerful that by firing electrons you can actually see images of the atom, the infinitesimally minute building blocks of our universe. Mr. Borrower, if I were using that microscope right now, I still wouldn’t be able to locate my interest in your problem.

The Frasier TV series.

Does “The Security Instrument” even sound like part of your home loan? If you go to court your Pretender/Lender is going to claim that you signed it with your eyes wide open. What the heck is it then, right? Well it is the key piece in EVERY SINGLE ILLEGAL FORECLOSURE since the middle 1990s.

In the first “Pro se Primer 101 of Terms You Need to Know to Fight Illegal Foreclosures, which can be found which can be found on this website, I described the relationship of the “Essential” document (instrument really, but this is a Primer 101) which is the Promissory Note and how it represents the debt that you owe.

You allegedly signed both the Promissory Note and the Security Instrument (mortgage or deed of trust) at your closing. But I’m sure 99% of my readers did not know which document it was and if they saw it again they would not recognize it as theirs.

But, this Security Instrument is the only document used by these genius attorneys on behalf of the Fictitious Payee (real legal term) to throw you and your family into the streets. They used it to foreclose on borrowers and not only is that illegal it is unbelievably stupid. But, it has worked against unsuspecting borrowers approximately 20 million times.

You see, what the Security Instrument is intended to do is follow your Promissory Note around and it is the rule book for your loan. It describes your loan. It describes that the Promissory Note and it is the only evidence that you even received a loan. It describes what happens if you pay off your loan and it describes what all the parties can and can’t do if you are unable to pay off your loan.

But, it is not the evidence that the foreclosing party owns your Promissory Note. It has no value and cannot transfer ownership of your loan (Promissory Note).

Still the only claim that I have ever seen by these “foreclosing Parties” is that they were assigned the Security Instrument and that means they can take your house.

That is not true. But nearly every foreclosure in the last 20 years was done by invoking the assignment of the Security Instrument.

But, let’s go back to the 1st Pro Se Primer 101 and the word “mortgage”. We talked about it having two definitions or meanings, but that is not lawfully true. The word “mortgage” is basically a slang term for “Home Loan” for citizens in all 50 states and D.C. and some of those semi-state islands. For you people in Judicial Foreclosure states, this means you can only be foreclosed on by the by the party who truly has a legally valid interest in the property and going to the proper court and filing a foreclosure lawsuit. Judicial foreclosure is much better for the Borrower.

But Judicial Foreclosure states they call the Security Instrument in their states a mortgage. So you folks living in those states have a home loan which consists of the Promissory Note and a mortgage. Of, course this is confusing.

Now, I’m going to confuse you even further. The Security Instrument in Non-Judicial states is called a Deed of Trust.

I won’t be able to straighten all of this out in this one Primer. You see, the phrase “Deed of Trust” has two out of three words that will be the subject of how it all works and how it doesn’t all workout.

Let’s talk about the word deed. Lots to confuse you there. The word Trust has three different meaning. You can see it coming from everywhere there. I will get to those right away. I know you are curious.

So, take this from this article, the Promissory Note is essential and the mortgage or Deed of Trust are incidental. Foreclosing “under the mortgage” only means the mortgage was just used as the rule book. You foreclose on the Promissory Note.

This might help. I say it all the time.

‘When you make a house payment, you are not paying off your house, as we say. When you make a house payment, what you are really doing is purchasing back your Promissory Note that was signed by you.

But, it’s the judges that are getting fooled. The “assignment of a mortgage” sounds like the assignment of a home loan, but IT IS NOT. In fact you can’t assign the mortgage. It belongs to the Promissory Note. So, the assignment of a mortgage doesn’t do anything because the Promissory Note does not follow a mortgage (security instrument). But a mortgage always follows the Promissory Note.

I promise you I am right. If you were foreclosed after 1995 there was no real Promissory Note anywhere and your foreclosure was based on the assignment of a mortgage in Judicial States. Not because that is legal. It is, in fact, not legal at all. It simply cannot be done.

OK, you ask me, then how did it happen? Well, I have tried to keep my faith in the integrity of our American Courts, but I was a fool.

The majority of the judges in America either (1) never read the laws concerning loaning money, (2) Are too stupid (pardon me, but there is no other way to say it) to understand basic American law even if they read it, or (3) Are prejudiced and biased and the attorneys of this country (which every one knows is a cult like the one Kevin Bacon’s character Ryan Hardy fights in “The Following) will not challenge the judges when they are wrong. So, go read all the law you want. Call me, like my clients do and tell me you found some more good law you want to show me.

Our laws aren’t bad and my clients aren’t duped. It is, beyond a doubt, the very players that we trust and that we should be able to trust, and we cannot trust that have displaced twenty million American families turning them into essentially refugees. If there are about 3 people average in every family, The that is 60 million American refugees. More than all of the trouble spots of the world put together. It is still happening.

If evil triumphs only when good men do nothing, what are you going to do?

JUDICIAL FORECLOSURE STATES ARE:

Connecticut, Delaware, Florida. Illinois, Indiana, Kansas, Kentucky, Louisiana,

Maine, Maryland, Massachusetts, Nebraska, New Jersey, New Mexico, New York,

North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, South Dakota,

Vermont, Wisconsin

Oklahoma, South Dakota, and Wisconsin have non-judicial foreclosure provisions in their state laws; however, judicial foreclosure lawsuits are common

NON-JUDICIAL FORECLOSURE STATES ARE:

Alabama, Alaska, Arizona, Arkansas, California, California, Colorado,

District of Columbia, Georgia, Hawaii, Iowa, Michigan, Minnesota, Mississippi,

Missouri, Montana, Nevada, New Hampshire, North Carolina, Oregon, Tennessee,

Texas, Utah, Virginia, West Virginia, Wyoming

Reasons to File For Bankruptcy – Foreclosure

Unfortunately it does happen, especially when economic times are tough – people need to file for foreclosure on their home. It is not something that anybody liked to do. But sometimes it is necessary. Quite often other people jump to conclusions when someone loses their home to foreclosure. They chalk it up to irresponsible behavior. This is frequently not true. Most of the time; the circumstances are beyond the family’s control. This article looks at some of the common reasons people decide foreclosure is their only way out. We hope to help shed some light on this subject for you.

One of the most common reasons a home winds up being foreclosed upon is divorce. Of course we all know that divorce is a life-changing issue. In today’s society it is also quite prevalent. Divorce often leads to the one left with the home becoming unable to afford the mortgage payments on their own, no matter how hard they try. They may first try alternatives like a second mortgage or selling the home to a well-known home flipper. Yet these alternatives do not work out for them. So ultimately their home is foreclosed on. This is nobody’s fault, it just happens.

The other most common reasons a home winds up in foreclosure are those of a medical nature. One spouse becomes gravely ill or perhaps even passes away. Not only does the remaining spouse now have mortgage payments to maintain, but also medical or death-related expenses piling up. This spouse surely cannot afford to keep up with all of these bills. Again they may try other alternatives to come up with all of the money they need, and again to no avail. To make matters worse; any repairs to the home that come up get neglected due to these financial hardships. So now not only have the mortgage payments piled up; but the house is deemed too ugly to sell. Once again, the only option becomes foreclosure. Unless a family is supposed to have a crystal ball on hand, illness is not predictable and is nobody’s fault.

A poor economy often leads to yet another reason a family faces foreclosure on their home – the loss of a job. It may be true that occasionally this is due to poor job performance. However; more often than not, it is simply because the employer is forced to reduce his staff. Perhaps an effort is made to just take a reduction in salary for all employees. Eventually even this is not enough and people get laid off. With this being an all-too-common occurrence, many other people are also looking for replacement jobs. This makes it difficult for the affected person to find another job. The mortgage payments then pile up and foreclosure becomes inevitable. This is really no one person’s fault. It is an unfortunate fact of life. Typically nobody sees this coming and there is nothing they can do about it once it does happen.

We would say at times like this a family can use understanding, not ridicule. Remember, it could happen to you too.

How to Add "Commercial Trashouts" to Your Foreclosure Cleanup Business

According to an article from DS News, an in formative real estate publication that focuses on foreclosure trends and other aspects of the mortgage default servicing industry, $23 billion dollars in commercial mortgages will come due this year. This translates into the fact that right at two thousand commercial mortgage loans are set to mature over the next year.

Of those, over thirty percent will likely NOT pass their refinancing tests, according to Fitch Ratings, a global rating agency that focuses on data, research and credit opinions for the world’s credit market and investors.

Commercial Business for the Trashout Industry

What does this mean for the cleaning foreclosures industry? In a word, PROFIT!

A foreclosure cleanup business provides services ranging from interior and exterior repairs, to maintenance, debris removal, securing properties via the boarding of windows and doors and changing locks, to occupancy and vacancy inspections, painting and more. Much of the banter around the foreclosure cleaning industry focuses on residential trashouts and maintenance; however, with the unfortunate dose of commercial mortgages scheduled to head for trouble this year, foreclosures cleaning on the commercial front can be a solid outlet for business contracts for new and existing foreclosure cleaning enterprises.

Commercial trashout and cleanup accounts can stem from office buildings, daycare centers, gas stations, retail stores, restaurants, multi-unit apartment buildings, and similar real estate.

Less Competition in Commercial Foreclosure Clean-outs

Commercial foreclosure cleaning accounts will have less competition because most businesses in the industry focus on residential trashouts.

Simple to Add Service to Existing Business

A foreclosure cleanup business owner can add commercial foreclosure clear outs to their list of services easily by simply ramping up on equipment and supplies and targeting professionals who handle commercial foreclosures.

For example, as a trashout business owner, start by compiling a list of commercial real estate brokers in your geographical area and reach out to them. Also, do a little digging and create a list of commercial lenders in your city and contact them about your cleaning foreclosures business. Use the term, “Commercial Foreclosure Cleanup” in your literature and conversations with the professionals you contact.

Also, by browsing business sections of newspapers to see what’s going on in the industry in your own town and keeping an eye on real estate multiple listing services online, you can fast become familiar with commercial foreclosures coming down the pipeline.

Win Mind Share and Ask for “the Sale”

Stay in touch with the listing brokers and agents of these properties. Win “mind share” by reaching out to them consistently with professional material and following up with a phone call to see if they have any questions about your services — and to see if they need you to give an estimate on a commercial property. Always ask if they have a property needing an estimate. Ask for “the sale” every time, at the end of every conversation.

Network for Consistent Business with Larger Payouts

Also, consider networking at Chamber meetings, business breakfast meetings, realtor gatherings, etc., and announce this new commercial division of your cleaning foreclosures company.

Commercial transactions usually have a bigger payout, are more formalized, and can lead to consistent work once you’re in good with a broker or lender.

How Commercial Differs

Note that commercial cleanouts will differ from residential cleanouts in that you will likely be dealing with larger spaces, smaller timeframes, and likely addendums to any contract you may present for signature. Also, you may have to work around security systems (i.e., a business being foreclosed on may be housed in a large commercial building, and your entry and exit may have to coordinate with front lobby security).

Further, you may have to clean industrial-sized equipment. For example, in cleaning a residential home, you’ll be accustomed to cleaning standard-sized stoves, dishwashers and refrigerators. However, in handling cleaning and trashout duties for say, a restaurant, you’ll be working with restaurant-sized freezers, refrigerators, stoves, hoods, and the like. This means your cleaning solutions will need to be stronger and you’ll need more of them.

Be Aware of Environmental Rules

Also, in handling commercial cleanouts, you may have to dispose of materials you won’t necessarily come across in a single family home. For example, with restaurants, you may have to dispose of tubs of cooking grease. Simply review environmental rules to ensure you’re following proper procedures in disposing of materials that may be hazardous to the environment.

Roll-off Container vs. Vehicle

Another factor in working with commercial trashouts is the sheer amount of furniture and materials that may need to be removed from a unit. For example, if you’re cleaning out a daycare center, you may have desks, chairs, books, file cabinets full of papers, toys, mats, etc. to dump. Ensure your vehicle is large enough to handle the job, or consider renting a roll-off container for the yard.

Lucrative Aspect of Your Business

There are several factors to consider if you decide to venture into commercial foreclosure cleanup. But with billions of dollars in commercial mortgages maturing this year alone, it can be a lucrative aspect of your foreclosure trashout enterprise.

Much success to you on the commercial front of the mortgage services industry!

Why Not Foreclosure? Saving Your Home While You Can

Foreclosure happens in 3 out of 10 homeowners in the US today. For these homeowners, it’s not a simple choice to let go of their houses. It’s just that they simply lack better options. Before giving up on foreclosure, here are some insights to think about so you can avoid it.

Bankruptcy

Foreclosure is not the solution. It doesn’t solve your problem with back payments. Take note that banks or lenders have the legal rights to chase you for the amount you owe them which includes the remaining payments, interests, legal fees, etc.

Bad Credit

Very elementary concept. For most homeowners who lost their homes due to foreclosure, applying for another loan is likely to be the next option. Well, foreclosure is expected to hurt your credit standing. You can only find a handful of lenders who will consider your credit score credible enough for another loan. In this case, obviously, foreclosure is not a good option to take.

Potential Impact to Your Next Job

One of the most devastating disaster that can ever happen to a person is losing a shelter while unemployed. With the tight competition in employment, most employers have included credit checks as part of their recruitment process. This usually happens to businesses inclined to financials. If you will ever choose to let go of your house, make sure you have a job. Looking for another one will be a problem after foreclosure.

Wasted Investments

Giving up to foreclosure is like putting your investments to waste. Nowadays, you can hardly make profit from selling a house to buy a new one. Go back to the time when you are planning to buy that house. You waited and waited. You saved. Then what now? You are ready to let go!

Time and Effort

Looking for a relocation has never been a walk in the park for anyone. There are too many things to consider when looking for a new house. Imagine giving it your time and effort again especially when you have a tight budget.

These are just some of the major reasons why foreclosure is the least solution to your financial issues. Faced with this defining moment, it will be wise to find the right people to help you out. You can talk to real estate agents who are ready to give you proper advices. As a responsible homeowner, foreclosure is absolutely something you should prevent.