Is Your House In Foreclosure?

Have you already experienced a foreclosure?

According to hundreds of recent government studies and a recent 60 Minutesforeclosure fraud, it is probable that your foreclosure may have been either improper or illegal.  I urge you to watch the 60 minutes show on on foreclosure fraud.

According to the 60 Minutes report, banks cannot find the ownership documents and ultimately fraudulently signed foreclosure documents.

foreclosureNot surprisingly, the banks may have failed to record the assignment of your loan properly as well.

Could it be that your foreclosure news may actually result in staying in your home?

On April 13, 2011 the government ordered 16 lenders, including Ally Financial Inc., Aurora Bank, Bank of America, Citibank, Citigroup Inc., EverBank, HSBC, JPMorgan Chase, MetLife Bank, OneWest Bank, PNC, Sovereign Bank, SunTrust Banks, U.S. Bank and Wells Fargo, and the service providers Lender Processing Services and MERSCORP to hire auditors and provide restitution to homeowners if there was an improper foreclosure.

Given all that is happening with the millions of foreclosures (2.4 million as of end of last year), foreclosure victims may finally get some relief.

Here are some foreclosure resources and information which may be helpful to you:

  • http://bizcovering.com/real-estate/keep-your-house-fight-foreclosure-fraud/

Your deed of trust and your promissory note equal a security. If they are separated from each other, as has happened in millions of cases, both your note and mortgage are void.  Be certain to seek legal help on this one, but reports indicate that this practice is frequent in the foreclosure world.

Ask your bank to produce your “wet ink” signature on your loan documents – in many cases, there has been so much impropriety, they can’t.

Here is more on that and again, seek legal counsel.

In some states there is a redemption period which may allow you to stay in your home longer – seek legal counsel on this, but here is some information for you.

http://www.foreclosurefish.com/foreclosurehome.htm

We hope that you never experience a foreclosure. However, we will continue to post resources and news for you on our blog about foreclosure.

 

Posted by +Pat Wyman, author and founder of HowToLearn.com