Posts about mortgage meltdown written by timothymccandless. The judgment in favor of the homeowner, Diane Yano-Horoski, which is being appealed, has alarmed the nation’s biggest lenders, who say it could establish a dramatic new legal precedent and roil the nation’s foreclosure system.
If you have a mortgage on your home and you are behind in your payments, Be sure to keep copies of all letters and notices; do not throw them out!. original note prior to filing the foreclosure case against you or that they have. name, and the name of the Plaintiff (lender) as it appears on the Summons.
· Lost-Note Affidavits When the mortgage servicers and securitizing banks that act as trustees of the securities fail to present proof that they own a mortgage, they sometimes file what’s called a lost-note affidavit, said April Charney, a lawyer at Jacksonville Area Legal Aid in Florida.
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Saturday, January 17, 2009. trust issues and Concerns Victoria Hasseler* I.. trust property in two different states, both of which had. shall deliver to the buyer anelectroniccustodial mortgage loan Schedule to the effect that the Custodianhasreceived the Mortgage File for each purchased mortgage loan on theMortgageLoan Schedule and as to.
Osceola clerk of court hired felon to perform foreclosure audit. chase and several other large banks,” according to an investigation by Reuters.. With their home at stake, the Goodins might as well have been talking to a brick wall. In taking no action to prevent the errors from continuing, even after being repeatedly notified.
· The most serious potential foreclosure violations involve falsified mortgage promissory notes, the documents homeowners sign vowing to repay mortgage loans. Courts uniformly have ruled that unless a creditor legally owns the promissory note, it has no legal right to foreclose. For each mortgage there is only one promissory note.
The first two options assume that you can afford your current monthly payment, and selling or refinancing your home may be impossible if you have little equity or even negative equity. Many homeowners, especially those with subprime mortgages, can no longer afford the mortgage payments, even if the mortgage were current.