A Simple Explanation of the Foreclosure Legal Process and Borrower Defenses

October 31, 2008, 2:09 pm
Posted by Nick in Website Announcements
Rating: 0/5 Votes : 0

Over the next few weeks, this site will be bringing homeowners more information than any other on various methods to stop or delay a foreclosure using the local court system. The thought of going before a judge and fighting the bank can be quite distressing, but it is one of the most effective ways to gain more time and force the bank into a more reasonable settlement than taking the home.

From the initial lawsuit to a potential deficiency judgment and bankruptcy, homeowners are always threatened with legal actions being taken against them during a foreclosure. But most borrowers attempt to qualify for a loan modification, sell the house, refinance with a foreclosure lender, or simply give up before they are required to move out. And this is all because they do not know how the legal process works to be able to defend themselves against a lawsuit.

Banks, on the other hand, may know little more about the legal process than than their foreclosure victims, but they have the means (ironically enough, paid for by the interest generated from other families' mortgage loans) to hire attorneys who have purchased computer software that allows them to make nice-looking legal forms and motions. Banks and foreclosure attorneys never expect to be challenged in court because so few homeowners know how to do it; even if they hire their own attorney, it is usually just to force a settlement.

Thus, a homeowner who understands three things about the legal system can fight a bank for as long as it takes. First, the borrower just needs to be aware of how the court works, what format motions should be put in, and other procedural rules. Second, homeowners need to have an awareness of some of the ways banks violate various rules, such as sheriff sale notification rules or the Truth in Lending Act. And finally, the owner has to be able to explain these violations in language the courts will understand and be able to put all of the burden of proof back on the bank and its attorneys.

A new section of the website may be created to index all of the new information that will be available here on this blog, including example letters or motions. With old and new defenses to foreclosure being discovered every day and being proven effectual against lenders' baseless lawsuits, homeowners can add utilize a number of new tools to save their home. We plan to detail at least two dozen ways that a mortgage company fails to prove its case or can be challenged in court.

Get your free evaluation today and we will include access to our full ebook collection and helpful software. All 100% free.

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Debt settlement and bankruptcy are great
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Posted by Edward Coke
on November 3, 2008, 1:43 am

I am a victim of a foreclosing scam. These are the companies’ involved:

Trustmark National Bank
Mortgage Professionals
Remax Realty
Realty South

To understand Trustmark and any other mortgage company that takes your money, do not apply it to your account and puts you out of your house- UNDERSTAND THIS
When the Un-native Americans came over to this country, gun traders sold guns to the Native Americans knowing full well that they were going to use them on their fellow Americans. This is the same cold destructive attitude of Trustmark National Bank and all the other mortgage companies that do the same.
I was at Sixteenth Street Baptist Church that Sunday morning in Sunday school. My father dropped my brother and me off and he went home to dress for Church. Trustmark is responsible for destroying far more lives than on that Sunday. They are doing by taking money from homeowners, not applying that money to their accounts, and keeping that money for themselves. THEY ARE KILLING HOMEOWNERS AND THEIR FAMILIES ONE FAMILY AT A TIME. All the lawyers are working together; they know that the contracts are not being followed by the mortgage companies.

To check to see if your Mortgage Company sent in payments to HUD call:

FHA RESOURCE CENTER
1-800-225-5342

This is for anyone with a FHA or VA loan.

I want to help you. Please write me a letter with your situation to:

Edward M. Coke
P.O. Box 610021
Birmingham, Al 35261

I am going to sue the lawyers that handled the foreclosure for my mortgage company.

If they can read and understand the simple language in the contract, that they can’t foreclosure if the loan is not insured, then they are incompetent or crooked.
You can even sue your lawyer if he did not bring this part of the contract out.

HUD stated that the insurance mortgage premium policy number written on the settlement statement.
It was not.

The real estate company also knew at closing that the loan was not going to be insured.

If your mortgage company did not insure your FHA loan you can go back 7 years to sue in Alabama. All people from 2001-2008 can sue. In other states you may be able to go back even further.