Your Questions About Foreclosures |

Your Questions About Foreclosures

Your Questions About Foreclosures

Sandra asks…

I need a Re feral for a Real-estate Lawyer, who specializes in Predatory-Leading and Fraud.?

I am a guy who owned his own home for 35 yrs, and got de-frauded on a equity-loan by Town & Country. I need to know when the time-table starts and how long I have to file, for R.E. fraud. I just became aware that my house had been foreclosed on I was applying for a equity loan 18 mths. ago, but never completed the loan or signed the finial paper work, Never got payment-schedule, notices of default or foreclosure. I lost a $700,000 asset and $383,000 equity. I was told by my son, that their were never any notices or demand for payments sent to my Home address. It was vacant for 20 months while I was gone for 2 yrs. I was told that the Frauded note was sold to an investor in Texas, whom held on to it for 18mths. then sold it out from under me. I was the only one on Grant-Deed and it was home-steaded, but i was cancled by some-one other than me. I need so help and answers to get my house back, or value plus Damages…

Your Questions About Foreclosures

The Expert answers:

If you haven’t had any luck with your local real estate attys in the yellow pages, you might want to try contacting the Federal Trade Commission. It is their job to investigate these types of dealings. Their toll free # is 1-877-ftc-help, or go to their website at : Also, you should contact your state’s Department of Real Estate, you can look them up online. This state agency should have forms available online for you to download, complete, and send back to them to investigate. Good luck

Your Questions About Foreclosures

Daniel asks…

If Obama wins, will liberals end up very disappointed by his performance for “the people”?

If “past is prelude” as Biden claimed in the debate, then indeed we have NO REASON to think that Obama is going to do a thing for average Americans:

Consider his actual record:

1. He voted against the capping of credit card interest at 30% (because, he said later) he wanted the cap to be lower. But voting against the cap made the sky rather than 30% the limit. Only idiots will fall for such rhetoric. Hillary supported the bill.

2. He voted for the Bush-Cheney energy bill that was stoked with major pay-offs, perks and goodies for the oil companies, and did nothing for consumer. McCain opposed the bill. Hillary also opposed it.

3. He voted for the FISA spy bill. (Hillary voted against it.) Starting to get the picture, neophyte liberal fools?

4. He voted for the bailout of Wall Street, which had nothing to do with saving the economy and everything to do with a massive transfer of public wealth from the majority, working-class citizens to the speculators on Wall Street largely responsible for their misery and home loss. Mind you, he supported and voted for the single largest legislative transfer of public funds to private interests in the history of the country. How is that “change we can believe in?” That’s change RHETORIC he can DECEIVE in.

5. He is the second largest recipient of funds from Fannie Mae and Freddie Mac.

6. He has no coherent plan to address the economic crisis. He has no plans to rescue the actual homeowners facing foreclosure and bankruptcy. Instead, he only has plans for the rescue of the financial elite, the very parasites that preyed on American homeowners in the first place, and whose money will actually save these scoundrels.

7. He supports the reinstatement of the draft. Recent statements make this very clear.

8. He will increase military spending by over 105 billion.

9. He caved to nuclear power when crafting a bill to protect people in IL from radiation.

10. He never stands his ground. In fact, he has no ground. He abdicates before you can say “boo!” He’s easily frightened.
There are numerous sources that back up the fact that Obama will increase military spending and also institute a draft. It’s very clear. Do your own homework you lazy Obamaniacs, you know-nothing neophytes.

Your Questions About Foreclosures

The Expert answers:

He is nothing more than a product of a bunch of shady characters from Chicago. He will owe tons of people for his position and he will have to take care of them first, before he ever does a thing for the “people”.

Obama and his wife, Michelle have so much more political ambition than even the Clinton’s, it scares me. He, along with the Democratic congress will take this country down in a hurry.

Very scary, but the media and the other left of center people of this country are going to do everything in their power to get their man in office.

What’s sad is a lot of the black community are voting for him because he is black. One man I heard on a radio talk show the other day said he wanted him to win so he would “shut white folk” up. Whatever that means.

Your Questions About Foreclosures

Joseph asks…

Why is the gop trying to do block michigan voters?

Democrats Sue Michigan G.O.P. on Voter Issue
By Michael Falcone
Updated Responding to allegations that Republican Party officials in Macomb County, Michigan plan to use home foreclosure lists to challenge voters at the polls in November, the Obama Campaign and the Democratic National Committee filed a lawsuit on Tuesday in federal court to prevent what they contended was an illegal practice.

Obama Campaign General Counsel Bob Bauer said that using home foreclosure lists as a basis for challenging voter eligibility would have a “deadly effect of the voting process” and argued that the practice would be illegal.

“This is a standard operating procedure within the Republican party that’s been under legal challenge,” Mr. Bauer said on a conference call with reporters on Tuesday.

Last week the chairman of the G.O.P. in Macomb County, James Carabelli, was quoted in the online publican, the Michigan Messenger, as saying that the party planned to use foreclosure lists to stop voters who no longer have valid addresses from casting their ballots.

“We will have a list of foreclosed homes and will make sure people aren’t voting from those addresses,” Mr. Carabelli was quoted as saying, according to a Sept. 10 article in the Michigan Messenger.

Since the story first appeared, Mr. Carabelli has repeatedly denied that the party planned to use the lists, and in an interview with The New York Times suggested that he was misquoted.

“I have no voter challenging program here in my county,” Mr. Carabelli said late last week.

And in a statement on the Michigan G.O.P. Web site the chairman of the Michigan Republican Party Saul Anuzis called the story “a complete fabrication.”

“There has never been a plan to use foreclosure lists to challenge voters. There is no such plan, and there never will be such a plan. Period,” Mr. Anuzis said.

Mr. Anuzis repeated those assertions on a conference call today and said that the Republicans would formally ask the Messenger for a retraction. Absent that, he said, the G.O.P. would pursue a libel lawsuit against the publication.

According to a statement on its Web site, Messenger editors appeared to be resisting calls for a retraction.

“There will be no retraction because Mr. Carabelli and Mr. Anuzis’ claims are unfounded. The quotes were not fabricated. Michigan Messenger and the Center for Independent Media stand behind this story 100 percent.”

Mr. Anuzis characterized the Democrats’ legal action a “stunt.”

“It clearly shows their desperation as they move forward,” he said.

But the Obama campaign countered that the denials amounted to “backpedaling” on the part of the Michigan G.O.P., and said that they had enough evidence to go forward with the lawsuit.

“Our position is very simply, they can tell it to the judge,” Mr. Bauer said.

A copy the Obama campaign’s complaint, which was filed on Tuesday in United States District Court in Eastern Michigan, is available here.

Your Questions About Foreclosures

The Expert answers:

They have been doing this for years in one form or another. 40, ooo voters got knocked off in florida in 2000. The reason why is the higher turnout there is the republicans cant win. They do not want everybody to vote because the will lose. Also in poorer communities they have less precints so more people have to wait in line to vote. They know people wont wait for hours to vote. In order to make it harder to vote. They did this in Ohio in 2004. People had to wait 4 or 5 hours just to vote. It happens every election

Your Questions About Foreclosures

Michael asks…

Renting a house that I own. Impact and how to go about it.?

This is a very trying personal situation for me. The note might be very lengthy but I would sincerely appreciate if someone can help me with this situation.

I have an Adjustable first and Fixed second mortgage on my home where I have lived as a principal residence for 2.5 years. The following are from the mortgage agreements that I have:

Rider to Note and mortgage – 1st mortgage
If during the term of the loan, lender discovers property is not being used by borrower as primary or secondary residence but for rental purposes, then lender will have the option of immediately increasing the interest rate by 1%, margin by 1% and annual and lifetime interest caps by 1%

Certificate of residency
I have signed that “During the term of the mortgage loan, I intend to use the property as my primary residence and it will be owner occupied”.

Fannie / Freddie Mac – Uniform Instrument Form 3031
Occupancy – Borrower shall occupy, establish and use the Property as Borrower’s principal residence within 60 days after execution of this Security instrument and shall continue to occupy the property as Borrower’s principal residence for atleast one year after the date of occupancy, unless lender otherwise agrees in writing, which consent shall not be unreasonably withheld or unless extenuating circumstances exist which are beyond Borrower’s control.

Occupancy statement
I will occupy the subject property as my principal residence as required by and in compliance with the terms of the Deed or trust / Mortgage / Security instrument relating to the subject property.

Now to my personal situation. I bought this property while I was married. Around 1.5 years back, my wife abandoned me and is now in India. A divorce case is currently going on in India and we are negotiating a settlement agreement where she signs over the deed to me. But this has already taken 1.5 years and I think she might try to prolong the process. Filing a divorce in the USA is not an option at the present time. She has not invested anything in the property. I have been paying my mortgage and all bills on time. Additionally, I am commuting 2 hrs to work each day. I am finding the burden unbearable of paying the mortgage for such a huge house living as only one person in the house and commuting back and forth from work each day. I consulted attorneys in the USA and they pretty much told me that I can neither sell the house or refinance it without her signature even if she has lived with me for 1 day in the house. I have excellent credit and don’t want to ruin it by going into foreclosure. As a result, I am renting out my property starting next week to minimize the burden on me. The rent will not cover mortgage and I will foot the difference but atleast I don’t need to ruin my health by driving to and from work for 2 hours everyday. I have the following questions:

1. Given the clauses in my mortgage agreement that I quoted above, am I ok with renting the property out?

2. I already have a lot of financial burden and instead of dropping the ball, I want to stick to my commitment and honor the loan but would like to wait for my wife to sign over the deed. In the meantime, I don’t want my mortgage company to raise the rate on the loan. How do I ensure this? Many people have told me not to tell my mortgage company that I am renting the place.

3. I am not planning on telling my mortgage company but how do I ensure they don’t get any suspicion when I change my address? Should I just tell them to use my office as the mailing address since its more comfortable to access mail?

4. My home and auto policy are with the same company. Obviously I will be changing the address on my auto policy. But, I have a suspicion that if I change the address, the home insurance policy will know of the same and immediately notify my mortgage company. So, what is the option here? Should I get a new home policy and ask them to use my office address as the mailing address and leave my car policy as is?

Thanks for your help.
I said filing a divorce in the USA is not an option since there are existing proceedings going on in india.

Your Questions About Foreclosures

The Expert answers:

How do I ensure this? Many people have told me not to tell my mortgage company that I am renting the place.
—isn’t it fun being between a rock and a hard spot?

Tell no one anything if they hold power over you; thus, volunteer nothing to the lender.

Find work closer to you –2 hours each way kills a good day. You “only ” work 8 hours,
why add 4 to that?

Go to court and seek a judge who will judge in your favor to sell the house if that is what
you want to do. Why a divorce is not applicable to you amazes me…….maybe your
creed/religion/heritage or pride is in the way.

No one can live your life; so, think TODAY, of you first, wife, mother, boss
2nd, 3rd etc.

[as a cowboy psychologist said 40 yrs ago, or maybe it was a native American–today
(maybe?) you become a man!

Your Questions About Foreclosures

Paul asks…

So my dreams had come true on buying our 1st home through USDA but then came a problem..?

I am so stressed out. I really need advice. Do you think I will make it in time? Here is the deal. On 9/28 this year I was approved for a home of $97000 through the USDA. My loan officer told me that I have until 11/13 to bring her the sales contract, inspection, survey, title order, and address of the home I want to buy. I wasted no time and by 10/1 I had found the perfect home. It is a foreclosure on 1/2 an acre with a 3 bedroom 3 bath home. Its for $89000 and seemed perfect. My broker advised me to send in a couple of offers to see if it would go through. Well we sent in 3 offers and finally the last one went through. This happened on last Thursday. I was told the contract on the addendums would be ready for me to sign around Monday of this week. Well, nothing yet. I am panicing because I have until 11/13 to turn everything in. I have the inspector waiting and the surveyers waiting for my call to go for it. Is it possible for me to have everything I need which I mentioned by next Friday? Or should I just watch my hopes and dreams of owning a home go down the drain. I am upset because I was on a waiting list for 6 months till I was approved. Now I will lose this chance. I have a bad credit score and cant buy a home on my own. I qualified due to low income through USDA. Do you think my loan officer will extend it if I have only part of what is needed by the 13th/ I am afraid to call her and hear her say that they will close my case if I dont have everything. Please, if you anything about USDA loans and foreclosures pertaining to this question, I would appreciate it.

Your Questions About Foreclosures

The Expert answers:

My broker advised me to send in a couple of offers to see if it would go through…………
No broker would ever do that. And broker’s do not advise
they have their agents do so. If you had a DUAL AGENT–
that is possibly a problem you are experiencing. A dual
agent rep’s the seller and buyer and by their double dipping…..

See if you have a dual agency relationship and if so,
cancel it immediately. IF a buyer’s agency [the correct
one to have] ask why YOUR agent is not negotiating for you
and instead, asking you to submit more than one offer!!
[I would not tolerate that–I would obligate the seller
to counter my offer.]

YOU did not volunteer what was on the addendums!

That seems to be the dirupter.

NOW I have even better news for you.

If anything happens on this deal [i hope it sails through
quickly just as you want it to]–

you can STILL buy using one of 2 other systems;

land contracts [even with a house on it]
and a lease-purchase

I can guide you through either -both and so should your
BUYER”S agent


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Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures

Your Questions About Foreclosures

Your Questions About Foreclosures