Foreclosure Prevention Institute, LLC Newsletter

Loan Modification Best Solution To Stop Foreclosure

It's the beginning of 2011, and foreclosures are still on the rise with interesting twists and turns in the fight to save homes from foreclosure.  I find that many homeowners are embarrassed, scared or ignorant of their rights when facing foreclosure.  Their actions or inactions reflect one who is in denial or in the midst of the grieving process.  They hope that their problem will just go away or magically be fixed.

Lenders too are to blame for this whole foreclosure mess, because they steer homeowners in the wrong direction to cause further delay or provide solutions that are designed to make homeowners fail.  Afterall, the lender makes more more money foreclosing on a home than saving the mortgage.   Banks support other banks and the government guarantees the backing of many loans when in default.   Servicing companies work on thin margins so they too make more money by putting a homeowner into foreclosure.  

It seems that everything is stacked against the homeowner who has experienced financial difficulties and is facing foreclosure or is default of their mortgage.  However, the courts  and attorney generals are now beginning to understand the whole foreclosure mess and are reversing this situation to ensure homeowner's rights are not violated by the big banks and fraud.  

We have tried many loss mitigation techniques including principal balance reductions.  The best avenue to stop foreclosure still seems to be loan modifications.  Forensic audits and negotiating directly with the banks' legal departments seem to be most effective in obtaining solid lasting solutions.
   
Homeowners who fight for their home and who hire experienced attorneys in foreclosures fare better than those who depend on governmental assistance programs.

If you want professional help to stop foreclosure, call Foreclosure Prevention Institute, LLC at 1.800.826.1929 and talk to Dave Brigle, Managing Member. 
 

Loan Modifications|Stop Foreclosures|800.826.1929

Loan Modifications stop foreclosure and may

best be obtained through forensic audits and legal

assistance. Foreclosure Prevention Institute, LLC

has been telling homeowners for 4 years now not

to roll-over and give-up your home to foreclosure

without a fight and this advice is coming home

to roost.  

 A Massachusetts' court ruled against several

banks for foreclosing on homes without the proper

paperwork.   Evidently, they couldn't find the

mortgage notes to prove that they could foreclose.

It is called, "Show Me the Note" lawsuit.

It is well-known in the mortgage industry that

notes were being fraudently signed or manufac-

tured when homes fell into default.   Banks

and the secondary money markets in their hurry

to sell mortgage-backed securities never trans-

ferred many of the notes properly, were

piecemealed, or simply lost.   Some banks used

an electronic system called MERS, and then

later on did robotic type signing to manufacture

or forge the notes.

Consequently, homeowners had little recourse

for settling disputes or in successfully obtaining

loan modifications.   You might say, well if

you don't make your mortgage payments you

deserve to lose your home.   However, we do

have foreclosure laws and all homeowners could

be affected.

Some states have judicial foreclosure laws in

which the court must approve the foreclosure.

Other states like Michigan require title in order to

foreclose.   If one thinks title is in question,

the homeowner can and must initiate the lawsuit.

Then it is up to the bank or individual to produce

the note when foreclosing.

In real estate, when one buys a home, a chain

of title is established.   What's happening is that

the banking industry is ruining the chain of

title for millions of homes through haste & "greed."

They claim that the old fashioned meticulous way

is just too antiquated for today's markets...kind of like
 
how the progressives attack our constitution as being

too old to apply to modern day society.  It's created
 
a huge mess.   Consider the following scenarios:

1.  An unsuspecting homeowner could pay off a

mortgage and then later on find out the bank

/servicing company has no title to transfer back

to the homeowner.

2.  A foreclosed homeowner could be foreclosed

upon again when a different note appears.

3.  An investor buys a foreclosure and fixes it up,

and then a court tells the investor to give it back

to the foreclosed homeowner.

Personally, I would be extremely cautious in buying

any home that has been foreclosed in today's

market.   I used to buy many foreclosed homes.

Supposedly, the sheriff sale provides clear title, but

if a home was fraudently foreclosed no telling what

a court might do.

Attorney generals in all 50 states are now just

reacting to the slow moving wheels of justice.

The favorable court rulings for foreclosed homeowners

are definitely causing bank stocks to fall in 2011,

and will continue to harm the housing industry for

years to come.

Have a pressing or nagging foreclosure question?

Want a real Loan Modification?

Call Foreclosure Prevention Institute hotline at

1.800.826.1929.  We have 35+ plus years experience

in real estate, mortgages, foreclosures, and appraisals.

Most people give-up or wait until it is almost too late

to help in terms of alternative solutions.

Foreclosure has a legal timeline that moves quickly

and options diminish through this process.

We can't help unless you call 1.800.826.1929.

Dave Brigle, Managing Member

Foreclosure Prevention Institute, LLC
271 Viking Dr
Battle Creek, MI  49017

brigle@appraisaloffice.biz

http://ForeclosurePreventionInstitute,com