Monthly Archives: March 2011

BANK OF AMERICA ORDERS TRASHOUT OF SHORT SALE HOME AFTER CLOSING

Approximately one week after the new owners closed on the short sale home they purchased through the defaulting Sellers with the approval of BOA, as is required in any short sale, they come home to find a trash-out Crew hired … Continue reading

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Foreclosure Stories, General Advice, Overview, The Players

A Model Set of Ground Rules – Used in Monroe County, Florida

The 16th Judicial Circuit of Florida, which comprises Monroe County, and which has Key West as the County Seat, has developed a procedure contained in Administrative Order 300.5 for handling residential foreclosure case filed in the county.  If more Judicial … Continue reading

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Foreclosure Stories, General Advice, Overview

The Backlash is Starting Against Mortgage Servicers

It took two years, but Servicers might just be starting to get the message.  You can’t treat your homeowners with utter disregard, and not have repercussions. A Fort Benning Soldier, David Brash, on active duty had automatic mortgage payments made … Continue reading

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Foreclosure Fraud, Foreclosure Stories, Homeowner Wins Foreclosure Case, Mortgage Servicers

Just How Long Does a Foreclosure Take?

  When you miss a Mortgage Payment, how long will it take for the Lendor or Servicer to complete the foreclosure process, which is defined as when a bank takes possession.  Taking Florida as an example, if you live in the … Continue reading

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General Advice, Overview

How We Got Here – The Process of Securitization

 It helps to have some background into how Mortgages used to work (like for the last two hundred years). 1)      A Bank would loan a homeowner money. 2)      The homeowner would sign a  promissory note (note or IOU) promising to … Continue reading

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History - Or how we got here, MERS, The Players

Are Lenders Attorneys Calendar Challenged?

On March 9, 2011, the Second District Court of Appeals rendered its decision in Sandoro v HSBC Bank in favor of the Homeowner. Their decision is not the end of the case; they sent it back to the Trial Court … Continue reading

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Foreclosure Fraud, Foreclosure Stories, Homeowner Wins Foreclosure Case, Mortgage Servicers

What to expect from a law firm defending your case.

If you decide to hire a law firm to defend your Mortgage Foreclosure, what should you expect? The primary goal of the defense should be: Get an agreement with the lender not to pursue a deficiency judgment Or if you … Continue reading

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General Advice

“Destroy the loan docs!” Judges asked to approve mass shredding

It’s bad enough to lose loan paperwork worth a quarter-million dollars (or more!) Now some trustees for bankrupt lenders are asking federal judges to approve a massive, intentional destruction of the original loan papers. Why? Because it’s apparently just too … Continue reading

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Foreclosure Stories, Overview