Foreclosure Education and Strategy

Case Law to Support Fighting the Bank on Your Foreclosure

admin — Tue, 28 Oct 2008 05:10:53 +0000

You can stop and delay a foreclosure and it is not the first time a Judge has ruled in favor of the debtor and NOT ALLOWED the bank to foreclose.

Intrigued…why the heck is this not on the news right now especially when all the Wall Street Tycoons have already raped the country of BILLIONS and the bailout package is to help them get out of this mess.

What about the homeowner????

The first monumental case is this where Judge and Jury ruled in favor of the debtor in State of Minnesota:

At 12:15 on December 7, 1968 the Jury returned a unanimous verdict for the Defendant.

Now therefore, by virtue of the authority vested in me pursuant to the Declaration of Independence, the Northwest Ordinance of 1787, the Constitution of United States and the Constitution and the laws of the State of Minnesota not inconsistent therewith ;

(make sure you click continued!): (more…)

A New Way to Fight Foreclosure

admin — Tue, 28 Oct 2008 05:02:48 +0000

This is a short info-blurb on a new technique being used to delay the foreclosure process and in fact, fight the banks. It is something you may not read too much about in the press as I’m sure most banks won’t want to have this knowldege spread too far in the realm of the Internet.

Here is the news…there are a small amount of lawyers who are using Truth In Lending violations and “show me the original note” as a negotiating tactic to work with the banks, save one’s credit and even in some cases, get the interest payments you paid back.

What is a Deficiency Judgement and Should You be Concerned?

admin — Tue, 28 Oct 2008 04:49:17 +0000

A deficiency judgement in a home foreclosure is basically the bank suing you and getting a judgement against you for the amount in ‘deficiency’ - basically the money the bank lost on what was owed to them, and what they were able to sell the house for.

If your home gets foreclosed on and the bank sells it at auction (the courthouse steps) for less than what is owed on it, then the difference is what the bank could go after you for as a “Deficiency Judgement”. For example, if you owe $300,000 on the first mortgage and the house sells at auction by the bank or trustee for $200,000…then the $100,000 difference is the ‘deficiency amount”. The bank must get a civil judgement against you in order to go after you for those funds. (more…)

What is Foreclosure - A simple definition

admin — Mon, 27 Oct 2008 04:53:17 +0000

Foreclosure happens when one can no longer make payments on their mortgage. It varies state to state but generally the foreclosure process takes more than 6 months…and in today’s environment with the banks being shell-shocked in exploding amounts of paperwork…I’ve seen foreclosures take up to one year! (more…)

How to remove a deficiency judgement from your credit report

admin — Sat, 29 Dec 2007 18:52:58 +0000

Coming soon an interview with a credit repair expert on how to fix your credit!

Foreclosure Education about Deficiency Judgements and IRS tax issues of the 1099c

admin — Mon, 17 Dec 2007 23:03:24 +0000

There are ways to STOP FORECLOSURE fast and court cases where judges have ruled that the bank may not foreclose. Visit my blog post about deficiency judgement explanation. For foreclosure education and strategy, read further…

One method to stop foreclosure fast:

To review your loan documents to see if there have been any violations of the Truth in Lending Act. (more…)