What is all this business about getting my house for free? Is it actually possible?

Absolutely. However, not everyone is in a position to get their house for free. I hear numerous stories about agencies claiming to submit a chronological set of documents to the bank wherein they dispute their loan due to RESPA and TILA violations, and the alleged outcome is that you get your home for free. I think that these agencies are all phony and a fraudulent attempt to prey on those who are vulnerable or less sophisticated. There is a chance of getting your home for free, but it is generally done through several months or years of fighting your foreclosure. That battle could take you from state court, then bankruptcy court and even into federal court.

The general premise is that the bank i) does not own your loan and ii) has not suffered any monetary damages. Your chances of getting your home for free are particularly high if your loan has been placed into a mortgage backed securitized trust. If you are in foreclosure, is the plaintiff Deutsche Bank as Trustee? Then you should really step up your foreclosure defending efforts because you have a really good case! There are many federal regulations and procedures set forth by the Securities Exchange Commission (S.E.C.) that have been implemented to protect consumers. One of the first things that you may want to do is locate the pooling and servicing agreement for the particular trust in which your loan has been placed. Analyze that pooling and servicing agreement to find the time guidelines in which the loan must have been placed into the trust. There may also be RESPA violations and TILA violations but you need to make sure that the statute of limitations has not expired before you go down that rabbit hole.

Review all of your loan documents to see if signatures match. Check whether all the necessary documents were provided and signed. And most importantly, you need to scrupulously examine your promissory note and mortgage. The bank may not have complied with the terms of the mortgage which would be a breach of contract. There is also a high likelihood that the bank did not properly transfer the note. Maybe the assignment was fraudulently produced in an effort to expedite foreclosure. Maybe the timelines of the pooling and servicing agreement were not met.
Generally, you will want to hire a sophisticated foreclosure lawyer to review all of your loan documents to ensure that the bank has complied with all the state, federal, Uniform Commercial Code, Florida Rules of Civil Procedure and S.E.C. regulations. Fight your foreclosure! Don’t just let the bank take your home, make them prove their case! The clock is ticking, so the faster you get started, the stronger your foreclosure defense will be.

If you are in foreclosure, or you think you will be in foreclosure soon, I will give you a free consultation. Call anytime. Foreclosure Lawyer Orlando (407)883-2618

Why is the bank not approving my short sale or loan modification?

Although I am still experiencing an extremely high rate of success in getting foreclosure actions dismissed, the Judges typically allow the Plaintiff to file an Amended Foreclosure Complaint. It is still a great victory because the Judge begins to lose confidence in the banks case and begins to question whether the bank has the right to foreclose on your home. Also, the bank will need to begin the entire foreclosure process from square one which will grant us tremendous negotiating leverage and gain time that is essential to obtaining a loan modification, short sale or deed in lieu of foreclosure.

I would strongly encourage if you are pursuing a loan modification then you should call the bank at least once every week or so to clarify whether any new financial documents need to be submitted. As previously stated, loan modifications are tricky because they will not only be denied if you don’t make enough money, but, they will also be denied if you make too much money.

The bank’s reasons for denying a short sale offer or loan modification could be plentiful, some of the following are just a few of the hidden agendas banks have: i) banks write any loss off on their taxes ii) banks foreclosure and get your home nearly for free iii) banks obtain a deficiency judgment which is usually over and above the original loan amount and iv) most importantly, banks have insurance policies that reimburse them for over 85% to 90% of the amount of the original loan! If you really need a loan modification, you should try to find out and contact the insurance company that provides default insurance to your bank. The default insurance carrier will work harder than anyone to help your get a loan modification because they want to avoid paying out money on those default insurance policies!

Although I am still experiencing an extremely high rate of success in getting foreclosure actions dismissed, the Judges typically allow the Plaintiff to file an Amended Foreclosure Complaint. It is still a great victory because the Judge begins to lose confidence in the banks case and begins to question whether the bank has the right to foreclose on your home. Also, the bank will need to begin the entire foreclosure process from square one which will grant us tremendous negotiating leverage and gain time that is essential to obtaining a loan modification, short sale or deed in lieu of foreclosure.

I would strongly encourage if you are pursuing a loan modification then you should call the bank at least once every week or so to clarify whether any new financial documents need to be submitted. As previously stated, loan modifications are tricky because they will not only be denied if you don’t make enough money, but, they will also be denied if you make too much money.

The bank’s reasons for denying a short sale offer or loan modification could be plentiful, some of the following are just a few of the hidden agendas banks have: i) banks write any loss off on their taxes ii) banks foreclosure and get your home nearly for free iii) banks obtain a deficiency judgment which is usually over and above the original loan amount and iv) most importantly, banks have insurance policies that reimburse them for over 85% to 90% of the amount of the original loan! If you really need a loan modification, you should try to find out and contact the insurance company that provides default insurance to your bank. The default insurance carrier will work harder than anyone to help your get a loan modification because they want to avoid paying out money on those default insurance policies!

REMEMBER  I have also been highly successful in CAR ACCIDENT LAW! Including settling two car accident cases for over $100,000.00 last year, and my clients did NOT even have surgery.

There are many Florida residents facing mortgage foreclosure, and I always tend to be asked the same questions. For those who own homes in Florida and want to add homestead protection to their property, the following may be very helpful in answering your questions. I took this instructions directly from the Florida Statutes so that there will be little or no confusion. If still need a Florida foreclosure lawyer or an Orlando foreclosure lawyer, please call me for your free consultation. (407)883-2618.

222.01 Designation of homestead by owner before levy.

(1) Whenever any natural person residing in this state desires to avail himself or herself of the benefit of the provisions of the constitution and laws exempting property as a homestead from forced sale under any process of law, he or she may make a statement, in writing, containing a description of the real property, mobile home, or modular home claimed to be exempt and declaring that the real property, mobile home, or modular home is the homestead of the party in whose behalf such claim is being made. Such statement shall be signed by the person making it and shall be recorded in the circuit court.

(2) When a certified copy of a judgment has been filed in the public records of a county pursuant to chapter 55, a person who is entitled to the benefit of the provisions of the State Constitution exempting real property as homestead and who has a contract to sell or a commitment from a lender for a mortgage on the homestead may file a notice of homestead in the public records of the county in which the homestead property is located in substantially the following form:

NOTICE OF HOMESTEAD

To: (Name and address of judgment creditor as shown on recorded judgment and name and address of any other person shown in the recorded judgment to receive a copy of the Notice of Homestead).

You are notified that the undersigned claims as homestead exempt from levy and execution under Section 4, Article X of the State Constitution, the following described property:

(Legal description)

The undersigned certifies, under oath, that he or she has applied for and received the homestead tax exemption as to the above-described property, that _____ is the tax identification parcel number of this property, and that the undersigned has resided on this property continuously and uninterruptedly from (date) to the date of this Notice of Homestead. Further, the undersigned will either convey or mortgage the above-described property pursuant to the following:

(Describe the contract of sale or loan commitment by date, names of parties, date of anticipated closing, and amount. The name, address, and telephone number of the person conducting the anticipated closing must be set forth.)

The undersigned also certifies, under oath, that the judgment lien filed by you on (date) and recorded in Official Records Book _____, Page _____, of the Public Records of __________ County, Florida, does not constitute a valid lien on the described property.

YOU ARE FURTHER NOTIFIED, PURSUANT TO SECTION 222.01 ET SEQ., FLORIDA STATUTES, THAT WITHIN 45 DAYS AFTER THE MAILING OF THIS NOTICE YOU MUST FILE AN ACTION IN THE CIRCUIT COURT OF __________ COUNTY, FLORIDA, FOR A DECLARATORY JUDGMENT TO DETERMINE THE CONSTITUTIONAL HOMESTEAD STATUS OF THE SUBJECT PROPERTY OR TO FORECLOSE YOUR JUDGMENT LIEN ON THE PROPERTY AND RECORD A LIS PENDENS IN THE PUBLIC RECORDS OF THE COUNTY WHERE THE HOMESTEAD IS LOCATED. YOUR FAILURE TO SO ACT WILL RESULT IN ANY BUYER OR LENDER, OR HIS OR HER SUCCESSORS AND ASSIGNS, UNDER THE ABOVE-DESCRIBED CONTRACT OF SALE OR LOAN COMMITMENT TO TAKE FREE AND CLEAR OF ANY JUDGMENT LIEN YOU MAY HAVE ON THE PROPERTY.

This _____ day of _______________, 2_____.

______________________________

(Signature of Owner)

______________________________

(Printed Name of Owner)

______________________________

(Owner’s Address)

Sworn to and subscribed before me by ______________________________ who is personally known to me or produced ______________________________ as identification, this _____ day of _______________, 2_____.

______________________________

Notary Public

(3) The clerk shall mail a copy of the notice of homestead to the judgment lienor, by certified mail, return receipt requested, at the address shown in the most recent recorded judgment or accompanying affidavit, and to any other person designated in the most recent recorded judgment or accompanying affidavit to receive the notice of homestead, and shall certify to such service on the face of such notice and record the notice. Notwithstanding the use of certified mail, return receipt requested, service shall be deemed complete upon mailing.

(4) A lien pursuant to chapter 55 of any lienor upon whom such notice is served, who fails to institute an action for a declaratory judgment to determine the constitutional homestead status of the property described in the notice of homestead or to file an action to foreclose the judgment lien, together with the filing of a lis pendens in the public records of the county in which the homestead is located, within 45 days after service of such notice shall be deemed as not attaching to the property by virtue of its status as homestead property as to the interest of any buyer or lender, or his or her successors or assigns, who takes under the contract of sale or loan commitment described above within 180 days after the filing in the public records of the notice of homestead. This subsection shall not act to prohibit a lien from attaching to the real property described in the notice of homestead at such time as the property loses its homestead status.

(5) As provided in s. 4, Art. X of the State Constitution, this subsection shall not apply to:

(a) Liens and judgments for the payment of taxes and assessments on real property.

(b) Liens and judgments for obligations contracted for the purchase of real property.

(c) Liens and judgments for labor, services, or materials furnished to repair or improve real property.

(d) Liens and judgments for other obligations contracted for house, field, or other labor performed on real property.

Posted by the Foreclosure Lawyer Orlando

Somebody just tacked a notice on my door…

…I did get a letter a month or so ago…

…that they were going to foreclose…

..now they’re threatening to evict me…

It’s too late for me, right?

A: Well, you really should have sought help sooner, however,

IT’S NOT TOO LATE.

Most people realize when they miss several house payments due to

unfortunate circumstances – becoming unemployed when a company, firm, organization, etc. closes or their spouse becomes unemployed or underemployed, or likewise losing income after a debilitating illness or injury, that at some point they are going to hear from the bank or mortgage company threatening to foreclose.

To keep a roof over their head and food on the table, many people just put off doing anything. They might keep a tiny nestegg to use for a U-Haul van and/or a down payment on an apartment and/or for the utility company, unless they have enough neighbors/friends/relatives to help them load up their belongings and move, but otherwise just sit and wait for what they think is an inevitability – they and their family being put out in the street.

If it has reached the point where an eviction notice has been posted, one, it obviously gets a little scarier now, especially in terms of time constraints, and two, it is obvious that your lending company, be it a bank or mortgage company, and their attorneys, mean business. They want the house so the mortgage can be re-sold. But I say again, it is not too late.

Call me. 407-883-2618. My consultations are free, whether over the phone or in person. If I represent you, then all during the foreclosure defense action, which generally takes many months or even years, you will pay absolutely nothing on your house payment. You pay me only a tiny fraction of what most mortgage payments in the U.S. amount to.

And this gives you time…time to regroup, become employed again, make financial plans for the future, etc.

After all, what’s the alternative? Loading up a moving van and moving in somewhere else? Unless you are moving in with a friend, relative or neighbor who will allow you to stay for free during your time of need, you’re going to need money wherever you go….so why be put in the street, and why not just stay in your home, leave everything in place, and just pay me a very small fraction of that normal house payment?

Okay, so if I understand this right…

..if the people trying to foreclose are unable to do so..

…and can’t produce a “mortgage note”

…I might get to keep my house?

A: It gets better than that. Let me give you a parallel example, so to speak, regarding auto insurance.

In Florida, if you carry bodily injury liability insurance (and you can purchase it in different amounts), your agent must offer you uninsured motorist protection in an amount equal to your bodily injury liability limits, or otherwise must have you sign a specific form, prescribed by law, rejecting the coverage. Let’s say you’re in an accident with an uninsured driver, or an underinsured (inadeuately insured) driver and want to avail yourself of uninsured motorist coverage (it inclusively acts as underinsured motorist coverage). If your auto insurance company cannot produce a properly executed Knowing UM/UIM Rejection/Selection Form, then you get the coverage at limits equal to your bodily injury liability coverage.

What do I mean by properly executed? Well, insurance agents are famous for saying “Sign here, initial here, check this, sign here…” etc.

Oftentimes they really don’t go over what you are signing, and therefore what you are selecting, in any real depth. To properly reject this coverage, you must check a block by language that must be in all caps, bold “I AM REJECTING…” etc., initial it, and sign in the block immediately below it.

So even if your auto insurance company can produce the form, and say the rejection block is checked, but you didn’t sign it, or it’s signed and the block checked (but without your initials…this keeps anyone from checking the block after the fact, at least theoretically)…this is improper and you get the coverage.

I said this was a parallel example. In foreclosure defense, if your lienholder (bank or mortgage company) cannot produce a mortgage note, or they cannot produce a proper mortgage note or a number of other important pieces of paperwork, that is, with all i’s dotted and all t’s crossed, as the saying goes, there is an opportunity that you might not only be able to keep your house, but also be able to pursue a case against the people trying to put you out of your home and I reiterate that potentially that can be a case against their lawyers, as well.

Two things are certain. One, as I’ve said, if you hire me, then all during the foreclosure defense process, you pay absolutely nothing toward your regular house payments.

Two, your bank or mortgage company, and/or their attorneys, darned sure aren’t going to tell you whether they might not be on really good grounds to stop your foreclosure. You can bet they’re aware if they can’t find a proper mortgage note, as one example, in the file, but they’re not going to tell YOU that.

They’re going to try to scare you out of the house.

Remember, my consultations are free and I will go over all of these issues with you in simple, plain English over the phone or in person.

Our goal is to give you time and keep you in your home. When your bank or mortgage company or their lawyers do something improper including losing paperwork, you might also recover money against them.

The elements of a fraud claim,

(1) a false statement must be made concerning a material fact;

(2) the seller had (or should have had) knowledge that the representation was false;

(3) an intention that the representation induces another to act on it; and

(4) an injury to the acting party (homebuyer) relying on the representation.

Huffstetler v. Our Home Life Ins. Co.
67 Fla. 324, 65 So. 1 (1914)

COMMON LAW FRAUD ELEMENTS

1)a representation of an existing fact;
2)its materiality;
3)its falsity;
4)the speaker’s knowledge of its falsity;
5)the speaker’s intent that it shall be acted upon by the plaintiff;
6)plaintiff’s ignorance of its falsity;
7)plaintiff’s reliance on the truth of the representation;
8)plaintiff’s right to rely upon it; and
9)consequent damages suffered by plaintiff.

I’ve been told the bank might foreclose…

but a neighbor told me that if…

..they can’t find the mortgage note,

..I might be in good shape.. or even get my house for free

..what’s a mortgage note?

..Is that the same as the mortgage itself?

A: The short answer is getting your house free and clear is easier said than done. It is true that the bank needs to prove that they have an equitable interest in the Note in order to enforce the

Mortgage. And as so many issues in our society are rather complex, an even shorter answer is that you should call me.

We can go over in person all the details in plain, easy to understand language that will let you know whether or not you stand a good chance of saving your home.

In today’s world, coming off of the “great recession”, the law, and case law (which means decisions rendered by our Courts which help to define and reinforce the law) on mortgages and mortgage notes in the secondary mortgage market is quite a topical issue. Remember, I’ve said that the primary drive of banks, mortgage companies and their attorneys is to displace you from the home you’ve worked so hard for so that they can sell the mortgage on the market (note this is distinguished from actually selling the home) so that another lender can come in and try to sell the home and make a profit.

The general rule in Florida is that the transfer of a mortgage note transfers with it the related mortgage. The mortgage note is regarded as the principal item with the mortgage considered as a mere accessory. The mortgage always follows the Note.

The converse situation is presented if a mortgage is transferred without the transfer of the mortgage note. The rule in Florida is that an assignment of a mortgage without a simultaneous assignment of a mortgage note nullifies the action for the assignee (the party “buying the mortgage”); this has been upheld by Sobel vs. Mutual Development, Inc. and Vance vs. Fields, cases decided by Florida’s First District Court of Appeals.

Sound a bit complex? Essentially what you’ve heard on the street is true. If your bank or mortgage company cannot produce certain paperwork, this may not only nullify, that is, wipe out, their
“sale” of your mortgage to another party, reinstating that mortgage to you, but you may also be entitled to money damages against your bank or mortgage company (whichever is appropriate) and/or their attorneys!

I reiterate…call me. Whether you’ve simply heard it through the grapevine as the saying goes, or you’ve actually received paperwork through the mail or by being served that your lending institution intends to foreclose and/or evict, you need an experienced attorney to fight the greed of the corporate world and their lawyers.

You may be able to stay in your home for months or even years without paying a dime toward your mortgage until the issues are resolved and I repeat that you may wind up winning money against them.

I’m available every day, including weekends, even after 5pm. I look forward to hearing from you.

Tips for getting a Loan Modification

First and foremost, you need to give the bank incentive.
I am not advising that you fall behind in your payments, but the truth of the matter is – if you are not at least 60 days behind in your payments, the bank is going to ignore your attempts at loan modification. You have a pre-existing contractual duty to pay your mortgage, and as long as you are paying, there is no reason for the bank to lower your payments.. period!

Next, and most importantly, you need to have your guard up once you fall behind 60 days in your payment. The bank will give you notice of intent to accelerate once you fall 60 days delinquent and after 90 days, the bank will begin the foreclosure process. You need to have a very experienced foreclosure lawyer to defend your foreclosure to ensure that the bank does not take your house during the loan modification process. Once again.. INCENTIVE.. you need to give the bank incentive to approve your loan modification. If don’t have a foreclosure lawyer then the bank taking your house will be like taking candy from a baby. You need to start laying a mine field of foreclosure defenses so that you can stop the bank’s attorney from taking your house and getting a deficiency judgment.

The first thing to do – it sounds basic – is just make sure you’re talking to the right department. You should be talking to ‘loss mitigation.’ You don’t want to be talking to ‘collections,’
Most lenders require that you have an acceptable debt ratio-generally it must be somewhere between 38%-45%-you will need this information when you begin completing the application.
It can be tempting to bend the truth when you are trying to convince a lender to approve a loan modification, But now isn’t the time for deception or anything less than full disclosure, Roberts says. It will only come back to bite you.

The lender’s representative looks at the numbers and presents a monthly payment that gets the lender the most money possible, while still keeping you in the house. Often what’s tinkered with most is your interest rate – sometimes it’s brought even as low as 2%, and on rare occasions even lower – until the monthly payment becomes affordable.

Understandably, homeowners often become frustrated and angry when seeking assistance from their lender. But poor behavior on your part can result in all sorts of things, including “accidental” phone disconnections to loan-modification officers who just don’t think you’re worth the trouble to deal with

If you’re getting the runaround, don’t be afraid to ‘CC’ your senator or congressman” on your documents. Hundreds of homeowners have used this tactic over the last year and seen good results.

“When they say ‘no,’ they probably mean they don’t know.” It takes time to work through the system. And even a normal modification can take 30 to 90 days.

Although many times the bank stresses that your loan payment magic number is 31% of your gross monthly income, the number is more definitively reflected as 31% of your net monthly income.

When the bank requests a new or revised document, continue to send in every requested document no matter how redundant or obnoxious the request may seem.

What are my options if I can’t get a loan modification?

If you and your spouse’s combined yearly income is less than $60,000, then there is a pretty good chance that you could file Chapter 7 Bankruptcy and erase your entire debt. We could also continue fighting the foreclosure during the interim and thereafter which could keep your in your home for several more months.

You may want to discuss a i)short sale OR ii) a deed in lieu of foreclosure.
It is of vital importance that you explain the importance of being forgiven of any deficiency when discussing a short sale or a deed in lieu of foreclosure. The whole idea should be to walk away debt free.
**IMPORTANT** If you do a short sale or deed in lieu, and the bank forgives you of the deficiency judgment à you are then liable to the government for the capital gains (i.e. you have a tax liability for the amount forgiven!)
However, if you file Chapter 7 instead of working with the bank, you can likely erase ALL of your debts and you will probably NOT have a tax liability!

I lost my job…

..and I only have a little money left..

..shouldn’t I save it for moving expenses?

They’re about to put me in the street!

Foreclosure Lawyer Florida (407)883-2618

A: Don’t forget that with the great recession, many people in America are in the very same boat. Most married couples with children in this country have it such that both spouses work, and if one loses their job, they can’t make ends meet. It’s difficult to find a job, and unemployment runs out.

We’re taught all our lives to save a little nestegg, and overall, that’s wise.

That said, if you have received written notice of a foreclosure action, to include being served with a lawsuit or an eviction notice, call me. My consultation is free. Most often, you can stay in your home for months or even years during the foreclosure defense process without paying a dime as far as a house payment goes. That little nestegg you have left?

We’re going to try to work things where you don’t have to spend it on a moving van. The goal is, again, to give you time to regroup. With married couples, if one spouse is working, you pay only a tiny fraction, generally, of your regular house payment in attorney’s fees with the result being keeping you in your home payment free and with the time to look for another job, apply for unemployment, seek any other (such as disability) benefits you may be entitled to, etc.

Indeed, a lawyer can help you in those areas if you don’t know where to turn to…in filing for unemployment, directing you where to go to look for work, seeing if there is a cause of action (a case) if you were wrongfully terminated from your job, etc.

We’re here to help you, and I reiterate, the consultations are free. It certainly doesn’t hurt to talk, and I know you want to stay in your home if at all possible…and it generally is!

Is there any government programs to help me stop my foreclosure and save my home? Obviously the two main government implemented programs are the 1) HAMP program a/k/a Making Homes Affordable and 2) HAFA program .. however, HAFA is aimed more toward allowing you to give up your home and be forgiven of the debt

Give us a call so we can try to help you find the perfect exit strategy from your Orlando Foreclosure!