can this stop foreclosure?

I came across this site www.thetrustee911.com where substantial evidence is presented, and verified, using both statute and case law, to reveal the numerous deceptions employed by banks to take fraudulent contractual control of your home. Also included is a process to fight foreclosure. Has anyone looked into this? They say they are getting great results getting foreclosures stopped with this.

Edited: 06/26/2010 at 11:26AM

Barry Johnson

7 posts
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Mar 03 '10, 05:25 AM

Unless you can prove that the bank absolutely KNEW you would be unable to pay back the loan that they gave you... the answer is no. There is no true defense against foreclosure save for paying your mortgage.

Edited: 06/26/2010 at 11:54AM

Bill Gulley

Real Estate Investor · Springfield, Missouri

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Mar 03 '10, 05:41 AM

Hi, from what I understand it's all about finding the lender in violation of RESPA and related regulations. One is disclosure of selling the loan. How far do you disclose? They simply say the loan will be sold but not that it will be blocked, securitized and sold off to investors, for example. Another is the APR being off more than one tenth of one percent. In liberal areas I heard that such suits or challenges had lenders walking away, since fines and penalties together with the loss of principal is at risk, but in conservative areas like where I am, they would be laughed at. It's interpretation. I wouldn't pay to have them try it. you can bring those claims yourself. IMO Bill

Edited: 06/26/2010 at 11:54AM by Bill Gulley

Trace Trajano

Real Estate Investor · Cincinnati, Ohio

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Mar 03 '10, 11:25 PM

One of my students have become an expert at this. It works in judicial states or easier to do it anyway. I agree with Financeexaminer - DO NOT PAY THESE PEOPLE UPFRONT. There are a lot of scams out there about stopping foreclosures.

However, there are many court cases already that show that if the lender commits some violations (and this can be as simple as foreclosing without being able to show that they own the note - which is a very common problem specially for lenders who bought packages of mortgages from the originators) or engaged in predatory lending (remember those 125% loan to value loans and no-doc mortgages?) that the foreclosure can be STOPPED, the loan balance of the borrower reduced or wiped out completely.

Here are the judicial states where this "thing" works:

Illinois, Florida, Wisconsin, Ohio, Indiana, New Mexico, Arkansas, Delaware, Iowa, Kansas, Kentucky, Massachusetts, Nebraska, New Jersey, New York, North Dakota, Oklahoma, Pennsylvania, South Dakota, Vermont

Edited: 06/26/2010 at 11:54AM by Moderator

Hazel L

Real Estate Consultant · Irvine, California

113 posts
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Mar 04 '10, 01:34 AM

Hi Cori! I'll have to agree with the folks above. In CA the Attorney General has issued a formal warning about these "forensic analysis" companies. Most of them are trying to arm wrestle your bank into paying you for damages (in staggered payments) or getting you a modification off technicalities INSTEAD of qualifying your situation for a loan mod/short sale/deed in lieu.

Ask them specifically how they "stop foreclosure." I highly doubt that the lender will put everything on hold when they find these guys are doing a forensic documentation review.l

Edited: 06/26/2010 at 11:54AM

Cori Gerken

Real Estate Investor · Sturgis, Michigan

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Mar 04 '10, 05:05 AM

Thanks everyone for your info and sharing your knowledge. The info on the site is all free so I really feel they ARE trying to help people. And they have posted notices to read and UNDERSTAND what you are going after.There is always a little deeper to dig, as in it works the best or easiest in judicial states. And thanks for the list Trace!

Edited: 06/26/2010 at 11:54AM

John Roth

Real Estate Investor · Indianapolis, IN

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Apr 20 '10, 03:45 PM

I had a couple of guys contact me today to see if I could help them out. There is not much I can do because, I have not dealt with such matters.

Jeff owned a house and had a mortgage on it. He sold it and Jeff and Joe moved into a new home. The new home was only in Jeff's name. Then they went to refi and Joe's credit was better so they refi'd in Joes name and now both guys are on title.

Joe filed chpt 7 before the sherriffs sale. Then when his chpt. 7 was completed in went back to sherriffs sale. Now Jeff filed for chpt 13 and everything was ok. However, Jeff fell behind and now Chase wants the house back again.

There question is: was it legal to refi in someone elses name and add them to title. Wouldn't it have to be a purchase?

Edited: 06/26/2010 at 12:33PM

Matt Feato

Real Estate Investor · Springfield, Massachusetts

53 posts
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Apr 26 '10, 01:38 PM

Perfectly fine. The process is usually done "all at once" with paperwork, then (should be) recorded in order at the courthouse.

Based on the post, it appears both names are on the refi'd note...which means both are responsible if the home gets the foreclosure.

Edited: 06/26/2010 at 12:37PM by Matt Feato

John Roth

Real Estate Investor · Indianapolis, IN

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Apr 26 '10, 03:16 PM

Only one is on the refi note and not the orginal one who took out the loan. It was refi'd in someone else's name and both put on title but, not on the note.

Edited: 06/26/2010 at 12:37PM

John Roth

Real Estate Investor · Indianapolis, IN

32 posts
1 award
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Apr 26 '10, 07:17 PM

Only one is on the refi note and not the orginal one who took out the loan. It was refi'd in someone else's name and both put on title but, not on the note.

Greg Francis

Residential Lender · Lake Tahoe, California

4 posts
50 influence

May 04 '10, 07:37 AM

Looks like this one got a little off topic at the end but to answer Cori's questions.....

forensic audits do work and they do stop the foreclosure process sometimes, maybe not forever but while the audit is being completed at least. The problem occurs once they have responded to the audit and everything comes out squeeky clean. The lender will them immediately proceed with the foreclosure.

Edited: 06/26/2010 at 12:43PM

Adrian G.

Real Estate Investor · Chicago, Illinois

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May 10 '10, 04:03 PM

Wow this is some interesting info that I heard before but not familiar with. I love learning more things at 2:05 am haha.

Edited: 06/26/2010 at 12:47PM