Our latest house saga. Next Tuesday is the foreclosure date

[Joanne]

Our foreclosure date is in one week: December 7, 2010. It's known as "2nd Tuesday" in Texas among professionals in the industry.

 

Most recently, Chase called me, offered me a "Forebearance" and told me there was not a foreclosure date and that I could expect a letter documenting the Forebearance shortly. Two days later, I got certified mail about the December 7 foreclosure. Upon calling to follow up, I was told that I had been "misinformed" by the Chase employee and that "I don't have a record of that call, but if it happened, I was "told incorrectly".

 

I have my situation filed with the Office of The Comptroller of Currency, the Texas Attorney General, Senator John Cornyn and I think I cc'd Jesus.

 

A "friend" of mine who happens to be an attorney is handling several similar cases. He's willing to help me, but is unable to do so pro-bono. He's greatly reducing his rates. He is calling the foreclosure attorneys today and tomorrow. He has a professional relationship with them already. His hope is that through informal channels, which are cheaper, we can get something "done".

 

If not, the next step is an affidavit from me, a meeting in front of a judge and a lawsuit against Chase. This will cost up to $2K for filing fees and bond, an amount we won't have in the next week.

 

Here is a sprinkling of articles representing the mess we are entangled in.

 

 

http://www.nydailynews.com/ny_local/queens/2010/05/05/2010-05-05_frustrated_homeowners_sue_jpmorgan_chase_over_m ortgage_loan_mess.html

 

http://www.dispatch.com/live/content/local_news/stories/2010/11/28/banks-accused-of-misleading-owners.html?sid=101

 

 

http://voices.washingtonpost.com/political-economy/2010/11/50-state_probe_into_foreclosur.html

 

 

http://www.huffingtonpost.com/richard-zombeck/foreclosure-hearings-show_b_787456.html?ir=Politics

 

It's my hope and prayer that something happens informally. I don't know what I can do otherwise that I haven't already done.

[Starr]

Joanne I'm still holding out hope and a prayer. You've done it all. :grouphug: Starr

[Carol in Cal.]

The insanity continues. I am so sorry, Joanne. This is beyond ridiculous.

[AuntieM]

What an unimaginable situation! I can't remember hearing of this large scale... call it what it is, fraud... on any evening news broadcast. Are any of the big radio talk hosts discussing it? Have I just missed it? It is a travesty that needs to be exposed in a BIG way.

 

I am sorry you are dealing with this Joanne, but I know you are not the only one and I feel for those who are less quick-thinking than you who really don't know what to do or where to turn. The size and consequences of this mess are almost too much for me to wrap my head around.

 

Prayers that your attorney friend will be able to secure some unshifting ground for you to stand on.

[Garga]

This is all so surreal. I just hate this for you.

[Dayle in Guatemala]

What a horrible situation. You would think that with all the houses on the books, they would be welcoming working with home owners.

 

I'm so sorry and I will believe with you that God will intervene.:grouphug:

[cjbeach]

We voluntarily walked from our home because our home was a house "flip" that didn't flip and eventually we moved into it. Unfortunately in the housing market it tanked to less than 50% below what we owed it on. It was only in my dh's name (he bought it as an investment) but it got to the point where it was a smarter decision to just walk from the house (it needed work!) than to stay in it. HOWEVER it's note was held through HSBC which is having tons of issues right now. As a matter of fact they had NO DOCUMENTATION for our loan. Our foreclosure proceedings drug on over well over 16 months because documentation could not be produced by the bank!!!! My dh spent many hours on the phone and many hours filing affadavits. It just kept getting extended and postponed.

 

We probably could have fought it a bit but truth be told, it wasn't worth it. The house continues to fall in value. We could probably file with part of the class action suit against HSBC as well, but again, for that house, it just wasn't worth fighting for.

What we did learn through the process is it all depends on the judge. The first few judges just kept pushing back the dates due to lack of documentation,dh's requests in affadavits, etc.... The last judge who was there just went ahead even without the bank's never-found documentation.

 

Go to court with all of your documenation, explain your story, and depending on the judge - you may see an extension. You may find after your affadavit you'll be granted an extension anyhow. We had over 16 months in extensions.

From what we've been told, it truly it depends on the judge. Our last judge saw the dates on our case (actually it was all my husband's name) he just wanted the case closed.

[DaffodilDreams]

Joanne, I'm so, so sorry. My prayers and thoughts are with you and your family. I hope you get the miracle you need.

 

:grouphug:

[elegantlion]

Joanne, I'm sorry. That truly just does stink. :grouphug:

[Stacy in NJ]

promissary note? Banks must produce upon demand the promissary note or document. Many banks due to the current mess don't have physical possession of the many notes they "own".

 

You need to make them prove that they acutally own the mortage.

[AuntieM]

Banks must produce upon demand the promissary note or document.

You need to make them prove that they acutally own the mortage.

 

Wouldn't that be an interesting turn of events, if they couldn't prove they were the mortgage holders.

[Harriet Vane]

:grouphug:

[Chris in VA]

Love the cc'd Jesus part--glad you have some of your sense of humor in the midst of the mess.

 

Getting on the hotline to heaven for ya. :grouphug:

[rlugbill]

I don't work in this area of the law, but I am an attorney. Yes, most of the banks trade mortgages around so much they don't have any proof that they actually have the mortgage to your house. The paper trail is lost somewhere probably.

 

The problem is that they re-packaged these mortgages and sold them as packages again without proof that they owned these mortgages. And lots of big investors bought these re-packaged mortgages that aren't worth much.

 

Anyway, many of the court papers they filed are fraudulent also. They never checked to see if they had the mortgage documents before they filed for the foreclosure. They just figured you would walk away and not show up to court and they would get the house and re-sell it. It's all a bluff unless they can show you the documents to prove they hold the mortgage. They have the burden of proof to show that they have the mortgage. No proof = no foreclosure.

 

If you fight them in court, with or without an attorney, you will probably win. They know the odds are against them at this point, so they might be willing to work something out with you, which is what your attorney friend is thinking.

 

If you can't afford him and don't want to do it on your own, call Legal Aid. They sometimes represent people in foreclosure proceedings and are actually often quite good at it, even though they are free.

[LisaKinVA]

praying for you...

[brehon]

Our foreclosure date is in one week: December 7, 2010...

 

Ironic it's on December 7th, huh, given the swirling chaos around who actually owns which mortgage.

 

So sorry you're having to deal with this! I sincerely hope this works out best for you.

[Patches]

:grouphug:

[Liz CA]

Not to sound glib about this but I wonder if a huge burden would indeed be lifted of your and dh's shoulders if you let this house go and look for a rental, assuming you are not in a position to buy anything right away?

 

I know people who let it all slide away and it seemed like the weight of the world was lifted off them. I feel so sorry that you have this piling up before Christmas and in the winter and just when you thought you were out of the woods with the modification. I hope you won't misunderstand this. I am as disgusted as you about their modus operandi and many of the lenders are embroiled in a class action law suit. For me it would come down to taking on another fight or taking the burden off. I'd be too tired to fight and fight through all their lies and "not being able to find this document or that or having no record of this phone call..."

Keep us updated on what happens.

 

I'll pray for guidance, justice and protection.

 

[MariannNOVA]

Praying for you -- and so sorry this has happened.:grouphug:

[RanchGirl]

I was wondering about the note too -- is Dec 7 when you can go to court and say "produce the note" (try to resist adding "you @#$#@!!")? Also you want to actually see it and make sure it is real and not fake, like the Rolling Stone article where they had obviously faked transfer stamps throughout the paperwork.

[Trish]

Did you check with MERS to make absolutely sure the bank foreclosing on you has legimate title to do so?

[Joanne]

You are all so sweet.

 

The foreclosure, I believe, is not legal. Not because they can't produce an original note, but because they did not honor the modification contract I earned, they offered and I signed.

 

At this point, though, I'm not sure it's worth finding $2k to fight something that still might not work for me.

[Unicorn.]

:grouphug: Joanne. It's just. not. right. :grouphug::grouphug::grouphug:

[justamouse]

I'm going to be praying for a miracle for you. :grouphug: It can happen.

[Michelle in AL]

:grouphug: and prayers for your :grouphug:

[RanchGirl]

You are all so sweet.

 

The foreclosure, I believe, is not legal. Not because they can't produce an original note, but because they did not honor the modification contract I earned, they offered and I signed.

 

At this point, though, I'm not sure it's worth finding $2k to fight something that still might not work for me.

 

Is Dec 7 a hearing in front of a judge? There should be one at some point shouldn't there? If you show up with the modification contract, I would think that the judge would listen to you even if you don't have a lawyer... it would be worth showing up for anyway.

[Denisemomof4]

The insanity continues. I am so sorry, Joanne. This is beyond ridiculous.

 

:iagree:I'm so sad for you. I don't know what else to say. It's just SO wrong on so many levels. Dh has had to deal with B of A and because of our experience with my parent's properties, I'm very nervous for you. Those banks have NO CLUE. I think they have toddlers manning the phones.

[Denisemomof4]

I'm sorry. That toddler line was just mean. Toddlers could do a better job.

:leaving:

[jld]

I read that Julian Assenge is planning to release B of A internal documents on Wikileaks in early 2011 (if the Americans or Russians don't do away with him first, of course). What is it about B of A?

[Tammyla]

What a nightmare.

[KatieH]

Awful :( I've heard Chase is a nasty company to have your mortgage through. Prayers for your family.

[BeckyFL]

What a tough situation. It's hard to believe that they do this to people who are willing to work with them. Praying that you will have wisdom to know exactly the best course of action. . :grouphug:

[Impish]

I'm sorry. That toddler line was just mean. Toddlers could do a better job.

:leaving:

:lol:

Sorry this has dragged on so badly :grouphug:

[Melissa in NC]

Gosh, you can not seem to catch a break. I have been following your posts for several years now and all I can do is pray for you to get a break.

 

I refi'd my mortgage in 2008. I was not in default; I was looking at lowering my payment because I knew hard time were coming for my family. Dealing with Wells Fargo was a nightmare. In the end, I screamed into the phone and finally got the paperwork done. I believe anyone when they have horror stories to tell about any mortgage company.

 

Keep up the good fight and let us know how it turns out.