Using Mortgage Tender Negotiations For TILA Fraud Violations To Stop Foreclosure

This information is not legal advice and for informational purposes only. 

Learn how to use Tender Negotiations…to rescind and cancel your mortgage loan contract for TILA Fraud Violations to Stop Foreclosure.

If you need to stop a foreclosure and loan modification negotiations have been unsuccessful, this information is going to breakdown all the steps to use Tender negotiations through identifying TILA fraud violations.

“Can you rescind and cancel a mortgage loan contract for TILA fraud violations after three years?”

That’s the most common question most mortgage servicers, mortgage lenders, attorneys representing mortgage lenders, or bankruptcy attorneys and foreclosure defense attorneys “all want to know” about the process to rescind and cancel a mortgage loan contract especially after three years.

Well, homeowners facing foreclosures are rescinding and canceling mortgage loan contracts after 3 years!

A foreclosure defense strategy to resolve foreclosure conflicts through Tender Negotiations, a win-win for the homeowner and the mortgage lender.

Another burning concern is that when a borrower actually rescinds and cancels a mortgage loan contract “is the borrower prepared to Tender payment” to the mortgage lender after doing so.

In 2016, I released my book Wall Street Mortgage Cancellation Secrets first edition that remains a best-seller even today.

This year I updated my same book to include a second edition for 2019, revealing upcoming warnings for a new foreclosure crisis. The 2019 edition is now also available in paperback. Which the 2019 edition is only exclusive to Amazon for Kindle and Paperback.

My decision to write this book was based on my extensive knowledge of mortgage securitization for how Wall Street securitized loans work and The Truth in Lending Act of 1968.

This act is a United States federal law designed to promote the informed use of consumer credit, by requiring disclosures about its terms and cost to standardize the manner in which costs associated with borrowing are calculated and disclosed.

The statement “requiring disclosures about its terms” is the most important factor for identifying TILA fraud violations. 

It is very significant to note that “TILA” includes mainly consumer credit loans, such as mortgages, credit cards, and home equity loans. However, TILA does not apply to Purchase Money contracts.

A borrower does not have the right to rescind or cancel under TILA for a purchase money lien. However, there are other issues discovered about TILA fraud violations for how to use “Fraud” as foreclosure defenses.

I am a former mortgage broker with over 16 years of experience…Finance, technology, and mortgage-backed securities are my primary areas of expertise and I am a real estate investor and developer with over 20 years of experience. I also served in the U.S. Navy under secret clearance, so I have a strong understanding of how classified top secret information is handled.

A security clearance is a status granted to individuals allowing them access to classified information that may be related to state or organizational secrets or to restricted areas, after completion of a thorough background check.

What exactly is a foreclosure? 

It is a “legal process” in which a lender attempts to recover the balance of a mortgage loan contract agreement from a borrower, who has stopped making payments (a loan default) to the lender that is processed by the lender’s mortgage servicer by forcing the Sale of the Asset used as the collateral for the loan which is the property.

Each state has a standard foreclosure process that is;

  • Judicial (requiring court approval) or
  • Non-Judicial (without court approval)

Which gives the exact procedures for how a foreclosure sale is conducted.

For example, in a Judicial foreclosure, the lender initiates a foreclosure by filing a civil lawsuit against the borrower. All parties must be notified of the foreclosure and the notification process vary from state to state.

In a Non-Judicial foreclosure, this process involves the sale of the property by the mortgage lender without court supervision, handled much differently from a Judicial foreclosure requiring no court approval review for a non-judicial foreclosure process.

There is one other foreclosure process that is not often used. However, the mortgage lender must first agree to it and for borrowers who don’t want to go through the foreclosure process, a Strict foreclosure offers an alternative. Strict foreclosure is the process that involves using a “deed in lieu of foreclosure,” or “strict foreclosure”, the mortgage note holder in due course claims the title and possession of the property back in full satisfaction of a debt, usually on the mortgage loan contract where foreclosure proceedings can be avoided.

While many borrowers think that a deed in lieu of foreclosure is better than foreclosure. A deed in lieu of foreclosure actually stays on a credit report the same amount of time as a foreclosure which is seven years.

As well as a deed in lieu of foreclosure also drops a credit score, which varies by how many points. The range can be from 25 points to 250 points.

What are the three most common ways used to stop foreclosure? 

  1. Bankruptcy Protection
  2. Short Sale
  3. Loan Modification

Filing a bankruptcy grants “Automatic Stay” protection that goes into immediate effect staying the mortgage lender by an Injunction that prohibits the lender from foreclosing on the property. So as long as the bankruptcy is filed before the mortgage lender forecloses on the property.

A Chapter 13 bankruptcy allows the borrower to remain in possession of the property while repaying the delinquent amount of mortgage payments set up in the bankruptcy plan. Chapter 13 restructures the debts through repayments by some payments made in part and some payments made in full over a period of 3 to 5 years for the repayment plan agreement.

In Chapter 7, bankruptcy will eliminate the borrower’s personal liability of the mortgage loan debt and the borrower will not be liable for any deficiency amount remaining after the foreclosure.

Many homeowners in foreclosure use Chapter 7 bankruptcy to buy time at the last minute. Allowing them to remain in possession of the property under bankruptcy protection without making any monthly payments.

However, the homeowner as the borrower will not be able to keep the property in a Chapter 7 bankruptcy. The property is given up. Unless the homeowner reaches an agreement with the mortgage lender, the automatic stay will be lifted against the mortgage loan contract when payments are not being made on the mortgage.

This may also be a good time to present TILA Fraud Violations to see if Tender negotiations can be worked out once the automatic stay is lifted and the property hasn’t foreclosed yet. Once the bankruptcy is filed the lender will have to restart the foreclosure process all over again.

 Short Sale is used most commonly second after bankruptcy to stop foreclosure. For a Short Sale, the net proceeds from selling the property will fall short of the debts secured by liens against the property.

There can be no pre-existing relationship that existed between the seller and buyer in a Short Sale transaction.

This must be an arms-length transaction and the borrower who is the original homeowner must not receive any proceeds from the Short Sale and must give up possession of the property. Not doing so is fraud.

Many homeowners don’t educate themselves properly and often commit fraud in their attempts to stop foreclosure.

A loan modification would seem like the most logical thing to do first to stop foreclosure. However, this is the third most common way borrowers seek to stop foreclosure.

This could be because most homeowners as the borrower are ashamed and afraid to talk to their mortgage lenders about being behind on their mortgage payments.

A loan modification is a process where the terms of the mortgage are modified outside the original terms of the mortgage loan contract agreed to by the lender and borrower. This can also be referred to as debt rescheduling.

FA identified the states with the highest foreclosure rates.

Which states have the highest rates of foreclosure? 

1. Delaware

Foreclosure rate: 1 in every 744 housing units.

2. New Jersey

Foreclosure Rate: 1 in every 788 housing units.

3. Maryland

Foreclosure Rate: 1 in every 1,117 housing units.

4. Connecticut

Foreclosure Rate: 1 in every 1,286 housing units.

5. Illinois

Foreclosure Rate: 1 in every 1,375 housing units.

6. Ohio

Foreclosure Rate: 1 in every 1,375 housing units.

7. South Carolina

Foreclosure Rate: 1 in every 1,409 housing units.

8. New Mexico

Foreclosure Rate: 1 in every 1,508 housing units.

9. Florida

Foreclosure Rate: 1 in every 1,559 housing units.

10. New York

Foreclosure Rate: 1 in every 1,672 housing units.

Why Do Most Foreclosures Violate TILA? 

Here’s why…

In 2013, there were 15 mortgage servicing companies subject to enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing, who reached an agreement in principle with the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System to provide approximately $10 billion in cash payments and other assistance to help borrowers.

Securitization of mortgage loans is a process where many mortgage lenders can conceal the identity of who is actually the true mortgage lender funding the mortgage loan at closing when the loan is originated.

Remember I mentioned earlier that the statement “requiring disclosures about its terms is the most important factor for identifying TILA fraud violations.

Now don’t confuse this with material TILA disclosures, where disclosures were not provided in the correct manner or the notice of right to rescind and cancel was not given at closing. 

Which a borrower only has three years to rescind and cancel the mortgage loan contract if material TILA disclosures were not provided.

That also includes three years to rescind and cancel the mortgage loan for failure to provide the Notice to rescind and cancel at the time of closing. Additionally, the borrower’s right to rescind and cancel terminates upon the mortgage lender curing the violations, unless the borrower mailed a rescind and cancellation notice to the mortgage lender within the three years.

Material TILA Disclosures vs. TILA Fraud Violations 

The two are vastly different.

Material TILA Disclosure involves a strict three-year statute of limitations where disclosures were not provided in the correct manner or the notice of right to rescind and cancel was not given at closing.

TILA Fraud Violations involves fraud where the entire mortgage loan contract can be terminated because it was based on fraudulent misrepresentation and misrepresentation of disclosure terms involving who was the true lender funding the mortgage loan contract at closing.

The identity of who is actually the true mortgage lender funding the mortgage loan at closing can be hidden during the securitization process of the mortgage loan contract. 

To stop foreclosure, borrowers are raising the foreclosure defense that TILA fraud violations occurred at loan origination at the closing table.

How is this possible?? 

# 1. At closing the party originating the mortgage loan contract must provide full “disclosure terms” by revealing who is the actual TRUE mortgage lender funding the mortgage loan contract. 

So let’s say you sit down at a closing table to do a contract, same as with a mortgage loan contract.

  • Party A is the Buyer
  • Party B is the Seller

The Buyer known as Party A takes out a Mortgage Loan to complete fulfilling financial obligations to purchase the property.

The mortgage lender must satisfy disclosure terms to identify who is the true lender funding the loan for the mortgage contract.

# 2. A fraudulent misrepresentation occurs in the disclosure terms when the mortgage lender is stated to be a different party than the party actually funding the mortgage loan contract! 

When fraud is involved this vitiates the mortgage loan contract entirely.

This is why these loans are known as Pretender Loans in the mortgage industry, where 15 mortgage servicing companies were subject to enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing.

# 3. TILA Fraud Violations is a violation involving fraud and disclosure terms misrepresentation. 

Disclosure involves the act of releasing all relevant information that may influence the other person’s decision if the information is not made privy to them.

Terms for disclosure allows each party to acknowledge the terms as well as the conditions in the disclosure terms process.

Fraud is deliberate deception to secure unfair or unlawful gain or to deprive a victim of their legal rights.

Fraud itself can be a civil wrong, a criminal wrong, or it may cause no loss of money, property or legal right but still be an element of another civil or criminal wrong.

How Are TILA Fraud Violations Proven? 

The elements required to prove fraud will vary in each state and federal laws. 

  • To prove fraud there must be an established misrepresentation of an important fact, such as the party asserting to the be the true mortgage lender funding the mortgage loan contract was mispresented and false.
  • The false misrepresentation was relied upon by the borrower that full disclosure terms were being disclosed about who was the actual true mortgage lender funding the mortgage loan contract at closing and influenced the borrower’s decision making to initiate the mortgage loan contract.

All evidence must be presented as facts explaining TILA Fraud Violations.

My book became a best-seller because I broke down step by step how to identify TILA Fraud Violations by conducting a securitization review at closing during the loan origination.

I give all the details for where to look and which TILA statutes reveal how to determine who is funding the mortgage loan contract at closing.

Most people are shocked to learn that their mortgage loan contracts show evidence of TILA Fraud Violations, where the actual true lender funding the mortgage loan contract was not revealed in the disclosure terms.

What this means is that the mortgage lenders expressly asserted to be the lender on mortgage loan contracts, are often not the true lenders.

More people wanted to learn more about securitization and how TILA Fraud Violations could help rescind and cancel mortgage loan contracts.

For this reason, Mortgage Cancellation Secrets Forms were developed.

A step-by-step method to rescind and cancel a mortgage loan contract for TILA fraud violations.

Using Tender Negotiations For TILA Fraud Violations To Stop Foreclosure

Tender Real Estate Mortgage Cancellation Secrets 1

Is it possible to stop foreclosure using Tender Negotiation for TILA Fraud Violations??

I have consulted foreclosure defense attorneys and bankruptcy attorneys on this same topic.

Recently, I have also offered my consulting services to attorneys representing mortgage lenders in foreclosures.

Where more borrowers are becoming aware of TILA Fraud Violations and starting to conduct securitization review audits of their closing documents.

I have held special training sessions on mortgage securitization and how-to stop foreclosure by finding securitization flaws as foreclosure defenses.

The one thing that I am certain of, there is a huge need for Tender Negotiation resolution to help borrowers and lenders resolve foreclosure conflict matters. 

There is a great need for a middle man to negotiate Tender on a mortgage loan contract once a borrower rescinds and cancels the mortgage loan contract.

The reason most loan modifications are denied is that borrowers are still required to qualify and many can’t qualify.

A growing problem is that many homeowners can’t qualify for a loan modification, to qualify for a loan modification approval is determined by two primary factors:

  • Size of the mortgage loan payment.
  • Amount of the borrower’s income.

Which federal guidelines also require that the mortgage loan payment must be less than 33% of the borrower’s income for approval when modifying the mortgage loan contract.

For most mortgage lenders to approve a loan modification, the lender must first adjust the interest rate for the mortgage loan contract.

When the interest rate is adjusted to a lower rate, the mortgage payment can also be lowered.

However, in most situations, it is just not possible to adjust the interest rate lower enough to make the mortgage payment low enough with the borrower’s income to be below the 33% income federal requirements.

This is why so many loan modifications are denied.

Other options for why loan modifications are denied include adjusting the terms, or length, of the mortgage loan so that the borrower will pay a smaller amount over a longer period of time.

Which also can require the mortgage lender to even forgive a portion of the mortgage loan through principal forgiveness, just to get the monthly payments low enough and below the 33% income requirements.

The mortgage lender also has an option to forgive a portion of the mortgage loan to make the monthly payments low enough and below the 33% income requirements. Rarely ever do mortgage lenders agree to forgive a portion of the mortgage loan through loan modification agreements.

A mortgage lender is not required to approve a loan modification, so none of these options have to be accepted. The mortgage lender only has to review the loan modification request and not required to ever approve a loan modification.

Making it much harder for a homeowner to be approved for a loan modification.

Stop Foreclosure 

 

The ultimate solutions to stop foreclosure should not only be Bankruptcy, Short-Sale, or Loan Modification.

TILA has strict rules and regulations and when fraud is identified it can VOID everything.

The U.S. Securities and Exchange Commission “SEC” also have strict rules and regulations for how securitization of mortgage loan contracts are to be handled.

When mortgage loans are securitized the promissory notes are established as security instruments and this a violation for where disclosure terms are misrepresented and false. 

Most people are attempting to rescind and cancel mortgage loans contracts without the knowledge of the securitization process for understanding how it works to raise foreclosure defenses for TILA Fraud Violations.

In my systems, I offer forms to break all these details down for what to understand about securitization rules and regulations to identify TILA Fraud Violations, a strong foreclosure defense!

If you want to learn how to rescind and cancel a mortgage loan contract properly and send your mortgage lender a recession notice and learn all the important statutes and TILA fraud violations the Mortgage Cancellation Secrets Forms will work perfectly for you please CLICK HERE!

If you want to learn steps for Tender Negotiation to negotiate Tender for mortgage loan contract recessions the Mortgage Tender Negotiation Forms are just right for you so CLICK HERE!

Mortgage Cancellation Tender Forms

If you want to learn both how to rescind and cancel for mortgage loan contracts and steps for Tender Negotiation hurry order both Mortgage Cancellation Secrets Forms and Mortgage Tender Negotiation Forms Together, CLICK HERE!

 

New York Foreclosure Mortgage Acceleration Default Foreclosure Defenses

Not legal advice, for informational purposes only.

New York homeowners are at a tremendous disadvantage when it comes to finding a knowledgeable attorney to provide an aggressive foreclosure defense to challenge their mortgage lenders in court.

Which is why picking the right attorney for representation means the difference of “stopping foreclosure and resolving issues with the mortgage servicer to cancel foreclosure permanently” or Homeowners Losing in court!

What’s worst is that after foreclosure takes place, many times Foreclosure Eviction follows!

The majority of homeowners are not financially prepared to just up and move. Having to relocate takes planning and time and money to do so!

While the state of New York offers fairness through the judicial process for foreclosures.

However, most homeowners proceeding ProSe or with the help of an attorney still fail to raise important foreclosure defenses about when the mortgage note is being called due in order to foreclose.

Again, this is why selecting the best foreclosure attorney makes all the difference!

New York Foreclosure Mortgage Acceleration Default Foreclosure Defenses Mortgage Cancellation Secrets

When homeowners don’t raise their defenses in foreclosure cases, the right to do so is gone later.

A recent poll of New York homeowners who lost their properties in foreclosure revealed that most foreclosure defense attorneys didn’t even conduct “Discovery” to determine if the mortgage lender had proper documentation to prove ownership of the property to foreclose.

In addition to determining if the mortgage lender was properly bringing the foreclosure lawsuit within the required statute of limitations.

All pertinent information that could get the “Foreclosure Dismissed” but must be raised timely at the beginning of the foreclosure lawsuit or the homeowners can’t later raise the issues as their foreclosure defenses.

A really good foreclosure defense attorney will know to do all of these things and even review if a homeowner had inadequate representation in a previous foreclosure case or adjourned foreclosure matter.

In the state of New York, all foreclosure actions must commence in Supreme Court in the specific county where the property is located.

The foreclosure action must also commence within Six Years from the “Default” being the exact month the homeowner would have missed the first mortgage payments.

A good foreclosure defense attorney knows to always check the “acceleration” date of the mortgage note to verify the exact date of the Default!

This is also why “Discovery” is vital in a New York Foreclosure.

What is Discovery and how it works?

It’s important to note that foreclosures in New York for Supreme county courts are conducted under the judicial process.

How Discovery works is that in the law of common law jurisdictions, it is a pre-trial procedure in a lawsuit in which each party, through the law of civil procedure, can obtain evidence from the other party or parties by means of discovery devices such as a request for answers to interrogatories, request for production of documents, request for admissions and depositions.

In civil matters, Discovery can also be obtained from non-parties using subpoenas.

When a discovery request is objected to, the requesting party may seek the assistance of the court by filing a motion to compel discovery.

A good foreclosure defense attorney knows to conduct Discovery, this helps to find information that the mortgage lender may be trying to hide.

In a foreclosure matter, the homeowner as the Defendant can request information through the Discovery process. This can be done as a ProSe when the homeowner is self-represented or through representation by their attorney.
Discover allows for the Defendant in foreclosure to ask the Plaintiff “who is also the mortgage lender” important questions.
A good foreclosure defense attorney knows to ask important Discovery questions such as; 
  • Is the Plaintiff the True Creditor?
  • Does the Plaintiff have Real Party Interest?
  • Is the Plaintiff the last Holder In Due Course of the Mortgage Note?
  • What is the Date of the last Payment made on the Mortgage Note?
  • Is the acceleration date within Six Years from the Default on the Mortgage Note?
  • What is the acceleration date of the Mortgage Loan Default?
  • Is the Plaintiff bringing the foreclosure lawsuit within the required Six-Year statute of limitations?
These are the types of strategic Discovery questions a really good foreclosure defense attorney will know to ask. Which can also determine if the mortgage lender is even the true creditor with real party interest to bring the foreclosure lawsuit in the first place.

Once the “acceleration” is called due this means the mortgage lender is requesting the ENTIRE BALANCE DUE on the mortgage note loan contract.A good foreclosure defense attorney will understand rules for how to dispute violations of creditor requirements to determine the accuracy of acceleration.

To educate yourself about creditor rules to understand how “acceleration” is called due please get Credit Audit Training Forms by Credit Disputer Secrets, CLICK HERE!

Why is “acceleration” so important in a foreclosure case??

First, the last date a payment was missed identifies the “exact moment” the clock should start ticking for the lender to call “acceleration” for the mortgage note due within the six-year statute of limitations.

In New York, if the six-year statute of limitations is expired, the mortgage lender can’t proceed with foreclosure!

However, many mortgage lenders are undoing their “Acceleration! This is done in an effort for the mortgage servicer to not look untimely to foreclose.

Now, just knowing this information is not enough to stop the mortgage lender from foreclosure.

It’s the job of the homeowner representing themselves as ProSe or the foreclosure defense attorney to raise what exact statute is being violated and to explain it in detail as a foreclosure defense!!

Again, you must educate yourself about creditor rules to understand how “acceleration” is called due and this is why you need Credit Audit Training Forms by Credit Disputer Secrets, CLICK HERE!

Getting educated about creditor rules for “acceleration” to understand mortgage loan default and hiring a good foreclosure defense attorney is a strong strategy to stop foreclosure.
Another very important factor in foreclosure matters is TILA fraud violations.
Fraud voids everything it touches and this can include fraudulent mortgage loan contracts.
Knowledge is power! Learn more about TILA Fraud Violation go order Mortgage Cancellation Secrets Forms, CLICK HERE! 
Good luck!

Bureau of Consumer Financial Protection Releases Mortgage Complaints

The Bureau of Consumer Financial Protection released a snapshot of mortgage complaints on their website filed by consumers. This report allows everyone to see the trends in mortgage complaints being filed and the progress.

These complaints received allows the Bureau of Consumer Financial Protection to regulate consumer financial products or services under existing federal consumer financial laws, enforce those laws judiciously, and educate and empower people to make better-informed financial decisions.

Bureau of Consumer Financial Protection

This report reveals many interesting data points about complaints submitted by consumers:

  • Between November 1, 2016, and October 31, 2018, approximately 11 percent of complaints were about mortgages.
  • Most mortgage complaints were about “trouble during payment process” (42 percent) and “struggling to pay the mortgage” (36 percent).
  • Compared to the monthly average during the past 24 months, people submitted 18 percent fewer mortgage complaints in October 2018.
  • There were 15 percent fewer mortgage complaints from August 2018 to October 2018 compared to August 2017 to October 2017.

Download the full report.

Bureau of Consumer Financial Protection also offers resources to help consumers through useful tools and resources for homeowners and homebuyers.

Deed in Lieu Of Foreclosure, What You Need To Better Understand

The following information is not legal advice and should not be used as legal advice, please consult an attorney for legal advice. 

A Deed in Lieu of Foreclosure has advantages and disadvantages. Generally, lenders don’t often offer a Deed in Lieu of foreclosure to homeowners. Some homeowners or real estate investors, consider getting a lender to agree to allow a Deed in Lieu of foreclosure a good thing. However, there are many factors to consider and we will go over them.

Advantages

The borrower is often considered the big winner in a Deed in Lieu of foreclosure situation and this all depends on what the borrower/ homeowner is wanting to do. If the borrower/ homeowner wants to keep the property, a Deed in Lieu of Foreclosure is not the best option.

The purpose of the Deed in Lieu of Foreclosure is for the borrower to convey all interest in the property over to the lender to satisfy the loan default. Which will allow the borrower/ homeowner to avoid foreclosure.

However, the borrower/ homeowner will not be able to keep the property and possession of the property goes back to the lender to sale, etc.

For a borrower/ homeowner wanting to avoid foreclosure and not having to go through public notoriety of foreclosure, this option is perfect. It will allow the borrower to not have to deal with public shame or investors sending them mass letters in their mailbox to purchase the property.

Liens

Any junior liens will be the assumable liability of the lender in a Deed in Lieu of foreclosure situation. For this reason, lenders rarely prefer to do Deed in Lieu of Foreclosure when the borrower/ homeowner have a second mortgage also known as a junior lien.

The lender must pay off any debt (junior liens) the borrower/ homeowner has attached to the property before executing a Deed in Lieu of Foreclosure, including;

  • Any second or third mortgages.
  • Home equity lines of credit (HELOCs).

In a foreclosure proceeding, the lender remains in the first position and the foreclosure clears the title and restores the title to a clear and free marketable title. Which also makes foreclosing more attractive to lenders over Deed in Lieu of Foreclosure sale.

Agreement 

The mortgage loan indebtedness must be secured by the property that is to be transferred. The transaction must be voluntarily by both parties and made in good faith on both sides.

The settlement agreement must be at or equal to the fair market value of the property being conveyed over to the lender in the Deed in Lieu of Foreclosure.

In situations where the borrower/ homeowner has an outstanding balance that exceeds the fair market value of the property being conveyed, the settlement agreement should also state that the lender will agree to it. Many lenders would rather agree to this, opposed to having to battle the homeowner in court over foreclosure.

Disadvantages 

A Deed in Lieu of Foreclosure is still damaging for credit history. Most homeowners think that a Deed in Lieu of Foreclosure is much better than a Foreclosure.

However, a Deed in Lieu stays on the credit report for up to seven years and this is the exact same amount of time a foreclosure remains on credit reports as well.

Why Are Lenders Offering Deed in Lieu of Foreclosure? 

Borrowers/ Homeowners are reporting that more lenders are offering Deed in Lieu of Foreclosure oppose to foreclosing on properties.

This could have many results of securitization flaws with mortgages. Where lenders would face a harder time proving that they actually own the mortgage loan to foreclose on it.

So it would make sense for lenders to seek to offer a Deed in Lieu of Foreclosure oppose to having “SHOW” how they own the property by proving it in court. Many lenders also have issues with lost note affidavits.

For this very reason, borrowers/ homeowners need to get educated on TILA fraud violations to learn WHO is the actual and true owner of the mortgage loan.

Workout a better solution over foreclosure or Deed in Lieu of Foreclosure by forcing the lender into negotiation stages. Making the situation a win-win!

Order our DIY Rescind and Cancel Mortgage Forms with easy instructional preparation.

Bankruptcy TILA Fraud Violations, RESPA Foreclosure Help

(The following is not legal advice or meant to be utilized as legal advice) 

Bankruptcy is often used by many homeowners to stop their mortgage foreclosure in the United States. Most often bankruptcy doesn’t exactly stop the foreclosure from happening forever, it’s simply a delay tactic. Where many homeowners even after filing bankruptcy are foreclosed on and even evicted later down the road.

If homeowners and bankruptcy attorneys would get educated on TILA fraud violations and RESPA more foreclosure situations could be resolved in bankruptcy matters. What’s very sad is that many homeowners only file for bankruptcy protection because they have fallen beyond in their mortgage loan payments. Ideally, if homeowners could work out a solution before filing bankruptcy it would be in their best interest and help to prevent damaging their credit with bankruptcy that remains for 7 (seven) years on credit reports.

Bankruptcy TILA Fraud Violations, RESPA FORECLOSURE HELP 

Since most homeowners only file bankruptcy to stop foreclosure. Determining 3 things could be a game-changer in almost every bankruptcy case across the nation!

  1. Does the mortgage loan contract contain TILA fraud violations?
  2. Who really owns the mortgage loan contract?
  3.  Impact for rescinding and cancellation of the mortgage loan contract.

Attack Secured Status

11 U.S. Code § 506 – Determination of secured status

Typically, in many bankruptcy matters, the true secured creditor is the only party that can claim their secured status as a secured creditor. This is the party the homeowner is seeking bankruptcy protection from and to stop the foreclosure proceedings.

What most homeowners and bankruptcy attorneys fail to do is:

First, investigate the mortgage loan for TILA fraud violations.

What should you be looking for in the investigation?

Starting from the origination of the mortgage loan contract, determine if the TILA fraud violations occurred.

Get the most updated 2019 New Edition for Wall Street Mortgage Cancellation Secrets 2019 New Edition, everything you need to learn how to conduct a TILA fraud violations investigation in mortgage loans contract is inside.

Second, validate the debt demand that the mortgage lender proves how they are the true secured creditor.

Conduct a fraud investigation to determine if the mortgage servicer’s foreclosure documents correctly list the true secured credit “proper party” that can collect on the debt in their own name.

Almost always, this is where the flaw in the mortgage securitization can be found.

The secured creditor must be the same (exact name) party that is seeking to foreclose on the homeowner.

Here is where the switch and bait comes into play.

The party foreclosing on the homeowner is many times the mortgage loan servicer (the mortgage servicer is not the correct secured creditor) and not the secured creditor. Also, even when the party foreclosing is not the mortgage servicer, updated information for the true secured creditor is being purposely hidden.

However, using RESPA “The Real Estate Settlement Procedures Act” and knowledge of TILA fraud violations the mortgage servicer can be compelled to reveal hidden details regarding the mortgage loan contract and reveal who is currently the secured creditor

Third, Rescind and Cancellation options for TILA fraud violations.

By doctrine, fraud vitiates everything it touches.

The purpose of this information is to find a win-win strategy solution between the homeowner and the mortgage lender and mortgage servicer representing the mortgage lender.

When TILA fraud violations are brought to the attention of the mortgage lender and mortgage servicer this presents a chance to negotiate the mortgage loan contract to reduce the principal balance and offer a lower interest rate.

Be careful of important deadlines and statute of limitations when using TILA fraud violations. A common misconception is that TILA can’t be used after 3 years. This because the majority of information about TILA is very basic and does not include how fraud occurs in mortgage loan contracts.

Fraud is a reset, fraud voids absolutely everything it touches from the very beginning.

Hurry order Mortgage Cancellation Secrets Forms, this system has everything needed to rescind and cancel mortgage loan contracts for TILA fraud violations. 

Using the techniques in this system learn insider information to work out a better deal with mortgage lenders.

Georgia Mortgage Foreclosure Help Loan Modification Denied

If you live in Georgia and have a mortgage foreclosure, the best place to understand where to get legal help for a loan modification (especially if denied) is the Office of Attorney General Chris Carr!

Find out what programs or assistance your state offers.

In the state of Georgia, there are several options available to homeowners in a foreclosure situation:

Here are some tips from the Office of Attorney General “Chris Carr” taken from their website.

  • Contact your lender or servicer and make arrangements to cure the default.  Usually, this means making a cash payment to bring the loan current.
  • Contact your lender or servicer and make arrangements for a “short sale.”
  • Contact your lender or servicer and make arrangements for a “deed in lieu of foreclosure.”
  • Consult a private attorney to see if a bankruptcy petition is advisable.
  • Consult a private attorney to see if there are legal grounds to seek a restraining order.

The most important thing that you can do is to educate yourself.

If you want to learn more about solutions for challenging if the mortgage lender holds enforceable security interest to collect mortgage payments.

Facing Foreclosure, Upside Down Mortgage, Loan Modification Denied, Can’t Afford Mortgage Payments??

Please get the Mortgage Cancellation Secrets Forms for more information.

Mortgage Cancellation Secrets Forms Cover

RESPA As New York Foreclosure Defense

(The following is not legal advice or intended to be used as legal advice.) 

RESPA can be a powerful New York Foreclosure defense. The problem is “how to avoid being labeled a deadbeat” among New York residents who just seriously don’t want to pay their mortgage notes. It seems some bad apples are causing others to suffer.

Ask any ethical homeowner, if their “mortgage lender restructured payments that made the monthly loan payments much more affordable or maybe also included reducing the principal balance, would they jump on accepting such an amazing offer?”

Likely, the answer to that question would be “heck, YES!” and their mortgage foreclosure problems could be resolved in an instant. Ideally, most homeowners do understand that they did take out a mortgage loan. When the mortgage lender can’t prove how they themselves hold enforceable security interest for the mortgage loan, then it makes perfect sense to modify the mortgage loan under better terms and to assist the homeowner with deferring the mortgage loan payments until the homeowner is able to make regular mortgage payments again.

This is the big problem or lack of communications between mortgage loan servicers and homeowners in danger of foreclosure. In the mix is a large number of homeowners in New York that just don’t want to pay for their mortgage loans. They have this theory of Free and Clear, feeling entitled to never pay for a mortgage loan. All with the misconception that the lender committed fraud and that is the main reason to never have to pay.

So, for the ethical homeowner caught in the middle, wanting to resolve their foreclosure situation what should you do??

A major problem is that the state of New York has a new foreclosure crisis where mortgage servicers are unable to resolve:

  1.  Foreclose on serious delinquent properties past due 5 years or more.
  2. Tied up in legal battles with serious delinquent properties past due 5 years or more.

This problem stretches far beyond deadbeats who don’t want to pay their mortgages. These homeowners are also profiting from the properties that they are not paying mortgages on with businesses or as rental properties that are also seriously delinquent. It’s ugly,

Wall Street Mortgage Cancellation Secrets was written to help homeowners wanting to work out a better solution over a foreclosure or when a loan modification is denied.

It was never intended for deadbeat homeowners to use knowledge as an abusive practice to never pay their mortgage lender or resolve their foreclosure situation. However, many homeowners in the New York area have found a loophole for using RESPA secrets and have abused the system.

What can a homeowner do to not get caught in the middle of deadbeat homeowners trying hard to game the system and never pay their mortgage loans in default status past 5 years or more?

RESPA is a secret weapon to find out important details about your mortgage loan that servicers don’t want you to know. In a pre-foreclosure situation in New York, the homeowner must receive a notice of the delinquency.

There is a 2009 statue that compels mortgage servicers to provide homeowners with pre-foreclosure notice of delinquency. It is also the discretion of the mortgage servicer to not file a formal default notice regarding the delinquency before beginning foreclosure proceedings.

Alarming, there are many foreclosures in limbo in New York and mortgage servicers have not foreclosed on serious delinquent mortgage loans 5 years or more past due. In some situations, many of these properties have not been foreclosed in more than 8 years with serious delinquency of nonpayment.

A primary issue with many securitized mortgage loans is paperwork mishaps, where the lenders can’t exactly prove or show ownership because of improper transfers.

Identifying TILA fraud violations is the ultimate solution to use RESPA in New York foreclosure matters.

Lenders can be more willing to resolve foreclosure matters when homeowners present issues with TILA fraud violations. Especially, through the use of RESPA with a properly written qualified written request.

Many foreclosures are sitting in New York, the best time is now to resolve foreclosure situations. Work out a solution with your mortgage lender. Stop worrying about avoiding foreclosure notices and eviction after foreclosure. Be smart, you don’t have to pay a company thousands of dollars. Educate yourself on RESPA and TILA fraud violations. Learn expert secrets to work out a better deal with your mortgage lender!

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Using Cash Out Refinance To Stop Foreclosure

Cash out refinance options offer the perfect solution to stop foreclosure by using the equity existing in the property. Often times foreclosure rescue scams trick homeowners by stealing equity in the property, in exchange for offering to stop foreclosure. Sadly, most homeowners are unaware that they can work out a better solution to use their cash out refinance options, that wouldn’t involve giving a large portion of equity away in the home to a third party offering to help.

Plus lots of these foreclosure rescue scams end up not stopping foreclosure, the property and equity are gone forever. The homeowner is left with no property and no equity once the property is foreclosed on.

This is why homeowners must educate themselves so that they don’t become victims to foreclosure rescue scams, as well as fraudulent lending scams.

Typically, real estate investors are always looking for houses to buy. However, not all real estate investors are looking to do the right thing or treat the homeowner with fairness. Many properties facing foreclosures are often being sold as for sale by owner to move them faster. Often promoted on Zillow for mass exposure. It’s even harder to find houses for rent in a foreclosure situation because of late mortgage payments being reported on credit reports.

Learn how to fix your credit at Credit Disputer Secrets! 

If you facing a foreclosure situation, the very first thing you should do is to explore your cash out refinance options to prevent foreclosure.

Using Cash Out Refinance To Stop Foreclosure Mortgage Cancellation Secrets

Ask a lender to cash out refinance, some lenders look at the deal (amount of equity) in the property when considering a cash-out refinance option.

If your home is worth $375,000 and you owe only $75,000 on the existing mortgage loan balance about to be foreclosed on. Then you have $300,000 worth of equity in the property. In the cash out refinance option you could pay off the existing mortgage loan balance of $75,000 including foreclosure fees, etc. Which all fees are itemized in the Pay Off Statement with the due date. 

Whatever is left from the balance of paying off the existing mortgage loan is money that can be cashed out and the new loan would be the perfect solution to save the property from foreclosure.

Sell the property to a trusted real estate investor, if you find that there is simply not enough time to complete cash out refinance before foreclosure, selling the property to a real estate investor is a great option.

Sell your property for a good cash offer, contact UREH! 

Where To Get New York Foreclosure Help Fast

Do you need help with avoiding foreclosure living in the city of New York? 

The good news is that New York has programs and government assistance to help you avoid foreclosure. You need to act fast if you are having trouble making monthly mortgage payments or have fallen behind on your mortgage loan payments. A misconception is that many homeowners think that if they are in default getting assistance to avoid foreclosure is not possible. However, the biggest thing that holds most homeowners back is their failure to act in enough time when trying to avoid foreclosure.

There is a lot of shame and embarrassment that comes with foreclosure. Homeowners shouldn’t feel ashamed because of many life changes can happen to impact financial situations.

Where To Get New York Foreclosure Help Fast

Where To Get New York Foreclosure Help Fast

Every second count and the longer a homeowner waits to contact their mortgage lender to communicate that they are experiencing financial hardship determines the outcome. When a homeowner waits until the last minute fewer options will be available to avoid foreclosure.

The foreclosure process in New York currently takes about 445 days (15 months) from the date of the first missed payment to the sale of the home.

Foreclosure sales in New York are by public auction, usually at a county courthouse. The home is sold to the highest bidder and anyone, including the lender, may bid. Once payment is made and the sale is complete the winning bidder takes ownership of the property.

Once a sale is complete, you have no right of redemption.  You lose your house.

These are the top programs and governmental assistance resources available to avoid New York foreclosure. 

New York State Mortgage Assistance Program – The New York State Mortgage Assistance Program is administered by the Center for NYC Neighborhoods, a non-profit organization that promotes and protects affordable homeownership. Loans are made by Sustainable Neighborhoods LLC, a wholly-owned subsidiary of the Center.

Amount –  NYS-MAP provides a 0% interest mortgage loan up to $80,000 to eligible New York homeowners at risk of foreclosure.

Eligibility Requirements –  The homeowner must have experienced financial hardship and must demonstrate an ability to afford their housing payments after receiving assistance. There are other requirements a homeowner must also meet in order to be eligible, which the housing counselor or legal services provider we refer you to will explain in detail.

Use Of Funds – Funds may be used to bring a mortgage current, help get a modification, pay off a mortgage or property tax arrears, or settle other debts that could lead to foreclosure.

Loan Terms – Loans made under NYS-MAP are mortgage loans that carry 0% interest. No monthly installment payments are required on the loan during its term but the full principal amount is due on the sale or refinance of the home or upon default.

Apply – Visit nysmap.org

Contact – nys-map@cnycn.org or call 855-NYSMAP-3.

Talk To A Housing Counselor 

HUD sponsors housing counseling agencies throughout the country to provide free or low-cost advice. Search online for a housing counseling agency near you, or call HUD’s interactive voice system at (800) 569-4287.

Get Legal Assistance 

If you do not have a lawyer, call the New York State Bar Association’s Lawyer Referral Program at (800) 342-3661 to find one. If you do not think you can afford a lawyer, you may qualify for free legal assistance. For more information, you can call the Legal Aid office in your area, visit Law Help at www.lawhelp.org or call our Foreclosure Relief Hot Line at (800) 269-0990 for assistance in locating free legal services in your area.

 

Loan Modification Warning Scheme Signs To Watch

Many times when homeowners are experiencing financial troubles, it’s easy to fall victim to loan modification schemes. However, there are loan modification warning signs to watch out for so that you don’t become a victim. Make sure that you fully educate yourself on what a loan modification is exactly and how getting approved for one can help to resolve your financial problems.

Why apply for a loan modification? 

Loan Modification Warning Scheme Signs To Watch

 

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If you can’t afford to make your mortgage payments, applying for a loan modification is a good way to permanently restructure your mortgage loan to be a more affordable payment. The purpose of a loan modification is when the lender and homeowner enter into a new agreement that allows for reduced monthly payments.

Sometimes homeowners feel that they need a representative to negotiate their loan modification. However, this is a process with the right training and education that any homeowner can complete on their own behalf.

While there are attorneys who specialize in loan modifications. Unfortunately, there are attorneys who also take advantage of homeowners in foreclosure situations. This includes companies who specialize in loan modifications, that in many situations also take advantage of desperate homeowners.

Warning Scheme Signs To Watch

These are important warning signs to watch so that you don’t fall victim to schemes.

Never stop making payments to your mortgage servicer and to someone else instead.

If a company, attorney, or any person working on a loan modification on your behalf is requesting that you stop making payments to your lender and start making the mortgage payment to them, don’t do this.

You should keep making your mortgage payments if you can while the process of your loan modification approval is being finalized.

Don’t accept rental payments if you have stopped making your monthly mortgage payments and trying to get a loan modification approved.

If you are unable to make monthly mortgage payments, don’t accept rental payments or allow someone else to accept rental payments if you are trying to work out a loan modification.

Mortgage fraud crimes also include personal gains from a property while not making monthly mortgage payments. Such mortgage fraud crimes can fall under conspiracy to commit wire and bank fraud that carry a maximum penalty of 30 years in prison.

Never report false income to get your loan modification approved.

Never report false or untrue income to have a loan modification approved. If a company or attorney working out a loan modification ask you to do this, don’t commit fraud.

Mortgage lenders will also verify your income against your tax returns as a deciding factor to approve your loan modification. If there is some inconsistency with your income, you could also be accused of attempted mortgage fraud.

The best thing that any homeowner can do in a financial crisis is to educate themselves. If you are having problems making your monthly mortgage payments or been recently denied a loan modification. Learn how-to challenge if the mortgage lender holds enforceable security interest to collect mortgage payments.

Getting a fair and favorable loan modification, is possible. Discovering the impact to rescind and cancel a mortgage loan because TILA violations for fraud is a powerful weapon to resolve mortgage problems.

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