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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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



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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