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eslack
Platinum Contributor
Joined: 06 Oct 2009
Posts: 37
Location: florida
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 Posted: Tue Feb 09, 2010 3:32 am Post subject: "SECRET FORMULA" the Treasury uses for Loan Mod Ac |
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Y'all will love this article... Chase is denying Permanent Loan Mods AFTER they have received the incentives from the government for the Temporary Loan Mod.
Page 2 of the article explains how the Treasury uses a "Secret Formula" (their words, not mine)...to determine if the Loan mod is cost effective for the INVESTOR... that sounds about right....after all, screw the Lowly Homeowner....
I don't know how anyone else feels, but after reading this crap, I made me spit fire mad.... realizing how far up the butt the Banks are giving it to us.... I do NOT mind using LFC to give it right back to them.
Happy reading:
http://articles.moneycentral.msn.com/Banking/HomeFinancing/mortgage-hardship-applicants-in-limbo.aspx?page=2 |
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Scott_L._Moyes
Joined: 18 Nov 2002
Posts: 4175
Location: Salt Lake City, Utah
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| Posted: Tue Feb 09, 2010 5:40 am Post subject: Re: "SECRET FORMULA" the Treasury uses for Loan Mo |
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| eslack wrote: | | I don't know how anyone else feels, but after reading this crap, I made me spit fire mad.... realizing how far up the butt the Banks are giving it to us.... I do NOT mind using LFC to give it right back to them. |
This is where everyone has got it all wrong. Using LFC or any other program DOES NOT "give it right back to them". They have already made their money on our ignorance and willingness to bend over.
_________________
Scott L. Moyes
NARS National Training Director
Scott@LandTrust.net
www.LoanModsSuck.com
www.NoNoteNoMortgage.com
_______________________________________
"Education Is The Foundation On Which Your Financial House Will Be Built" |
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eslack
Platinum Contributor
Joined: 06 Oct 2009
Posts: 37
Location: florida
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| Posted: Tue Feb 09, 2010 3:14 pm Post subject: Re: "SECRET FORMULA" the Treasury uses for Loan Mo |
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| Scott_L._Moyes wrote: | | eslack wrote: | | I don't know how anyone else feels, but after reading this crap, I made me spit fire mad.... realizing how far up the butt the Banks are giving it to us.... I do NOT mind using LFC to give it right back to them. |
This is where everyone has got it all wrong. Using LFC or any other program DOES NOT "give it right back to them". They have already made their money on our ignorance and willingness to bend over. |
Scott.... U r right my friend..... I stand corrected....
(Now you know why you are the Trainer, and I, the trainee) 
My "Figure of Speech" came out wrong... these banks have made money hand over fist... and when other people tell me that cancelling mortgages will somehow leave somebody "holding the bag".....
I realize how very naive we all are when it comes to finances and debt in general.
I must monitor my language better, because (whether we realize it or not) our mission is to re-educate ourselves and others!
I claim the Mea Culpa!  |
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homesavers
Platinum Contributor
Joined: 17 Dec 2005
Posts: 1142
Location: California
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| Posted: Tue Feb 09, 2010 4:45 pm Post subject: Re: "SECRET FORMULA" the Treasury uses for Loan Mo |
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| eslack wrote: | ....after all, screw the Lowly Homeowner....
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The Homeowner does not know the Law and cannot afford an Attorney. That is why we need to do everything we can to make offers to the "walk aways". They are still afraid of judgments against them, i.e., wage garnishments, liens, tax bills, etc. believe me on this I have these questions asked of me all the time. We need to have answers. |
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homesavers
Platinum Contributor
Joined: 17 Dec 2005
Posts: 1142
Location: California
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| Posted: Tue Feb 09, 2010 5:10 pm Post subject: Give it back |
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| Scott_L._Moyes wrote: |
This is where everyone has got it all wrong. Using LFC or any other program DOES NOT "give it right back to them". They have already made their money on our ignorance and willingness to bend over. |
Right but doesn't LFC just use the same recorded docs against the lender that is not answering the "pleading"(if that is the correct term)? LFC presupposes non-response all around(I reviewed the docs). So you can cloud the title I would presume if you revoke the Trustee and re convey via Quit Claim Deed. There is still a NOTE to deal with. The lender may still have a case against the owner because depending on jurisdiction you may not have to produce the original. A certified copy will suffice for the court in some jurisdictions. (see State Rules of Civil Procedure).
Is this correct? I am not an Attorney but somebody has to step up here and start looking at the law. You cannot do anything with LFC, Land Trusts, Real Estate, etc without knowing the Law. Check with your own Attorney if you want to act on anything said here. |
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Dave Salcido
Platinum Contributor
Joined: 31 Oct 2007
Posts: 368
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| Posted: Tue Feb 09, 2010 5:45 pm Post subject: Re: Give it back |
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| homesavers wrote: |
Right but doesn't LFC just use the same recorded docs against the lender that is not answering the "pleading"(if that is the correct term)? LFC presupposes non-response all around(I reviewed the docs). So you can cloud the title I would presume if you revoke the Trustee and re convey via Quit Claim Deed. There is still a NOTE to deal with. The lender may still have a case against the owner because depending on jurisdiction you may not have to produce the original. A certified copy will suffice for the court in some jurisdictions. (see State Rules of Civil Procedure).
A- (Remember, we're talking FRAUD here. We are beyond civil procedure)
Is this correct? I am not an Attorney but somebody has to step up here and start looking at the law. You cannot do anything with LFC, Land Trusts, Real Estate, etc without knowing the Law. Check with your own Attorney if you want to act on anything said here. |
I believe you are correct to a degree. There will be some judges that are set in their ways, or heaven forbid, are in collusion with the banking cartel. So to mitigate this reality, a solid foundation must be erected long before potential litigation. There's nothing you can do with judges on the take (if there is such a thing) except appeal. Misinformed but honest judges need to become properly informed through discovery. So you better have a well documented administrative process that can be presented for a sixth grader to understand. Judges like that.
Additionally, everyone considering challenging the lenders with this process must consider having an attorney ready to go in court should the need arise. I believe at some point, a quiet title action will become a necessary component in these proceedings. Yes folks, I know this is going to sound completely crazy, but you may actually have to pay somebody to help you. (Heaven knows nobody wants to pay me!..... ;( ......)
There is no greater feeling of discomfort than going to court as a pro se litigant, no matter how strong your case may be. So start thinking about getting a professional to help you through this. I'm sure saving and keeping your home, especially if you can make it free and clear should be worth spending a little money.
_________________
Dave the Distressed Properties Guy
http://tinyurl.com/distressed-properties1 |
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homesavers
Platinum Contributor
Joined: 17 Dec 2005
Posts: 1142
Location: California
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| Posted: Tue Feb 09, 2010 8:48 pm Post subject: Professional |
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Get Paid for performance/results, upfront fees or hourly. We all get paid for performance/results. I agree you need a professional and some money to do these. Court costs need to be paid up front no matter what.
In terms of Civil Procedure I mean -"Your State" Code of Civil Procedure. You cannot bring a case properly before the court without applying it. Again I am not an Attorney but this is my personal understanding. |
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piloto
Joined: 18 Dec 2004
Posts: 62
Location: New York
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| Posted: Tue Feb 09, 2010 8:50 pm Post subject: |
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Amen Dave.
A Quiet Title Action is a right approach to real peace of mind here... Or you can get really serious with this.
Hire a competent attorney (be sure you are on the same page with him/her with your docs form the start) and go after 'triple damages.'
Remember that 'Notice of Default and Bill for Treble Damages' your Notary sent them back in Phase One, and you recorded in the Public Records?
When they come back and try to settle (more than likely they don't want to deal with your attorney court), clean and insurable title just becomes part of the terms (I would even have them buy my policy), along with credit repair!
You may end up settling for less than the full triple damages (and sharing with the attorney), but a free and clear property and a nice check certainly can give you a fresh perspective on life.
_________________
Gene Cramer
"If Heaven lets fall a plum, open your mouth." |
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