Comments on: Fighting Foreclosure: How One Homeowner Fought the Trustee For Time and Won! http://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/ Learn, Network, Invest Sun, 12 Feb 2012 02:59:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: mikehttp://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-90522 mike Sat, 08 Jan 2011 22:33:43 +0000 http://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-90522 Hey D M, a little bitter about something? Your generalizations are really poor form, and come perilously close to thinly veiled bigotry. Had trouble with that forclosure property you thought was a killer deal? Forgot actual people lived there before tragedy hit them hard? Wow... maybe if people would stop "gaming" the real estate market then maybe the lenders would actually start acting like lenders instead of loan sharks. Many, many people have had their lives devastated by back-to-back recessions, and losing their homes as well is just horribly painful. Losing a few bucks on a bad investment, because of jumping on the REO bandwagon without doing homework, is just "par for the course." Lenders and trustees are definitely cutting corners just to collect fees out of pure greed and they DO NOT CARE. The homeowners/borrowers need to protect themselves, and very few are uneducated or deadbeats. I would be more than happy to provide direct evidence of negligence and malfeasance on the part of a lender and trustee. Hey D M, a little bitter about something? Your generalizations are really poor form, and come perilously close to thinly veiled bigotry. Had trouble with that forclosure property you thought was a killer deal? Forgot actual people lived there before tragedy hit them hard? Wow… maybe if people would stop “gaming” the real estate market then maybe the lenders would actually start acting like lenders instead of loan sharks. Many, many people have had their lives devastated by back-to-back recessions, and losing their homes as well is just horribly painful. Losing a few bucks on a bad investment, because of jumping on the REO bandwagon without doing homework, is just “par for the course.” Lenders and trustees are definitely cutting corners just to collect fees out of pure greed and they DO NOT CARE. The homeowners/borrowers need to protect themselves, and very few are uneducated or deadbeats. I would be more than happy to provide direct evidence of negligence and malfeasance on the part of a lender and trustee.

]]> By: dmhttp://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-86951 dm Thu, 30 Sep 2010 21:32:52 +0000 http://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-86951 I am surprised you received so much praise for helping your clients "game" the system with small inaccuracies that take "legal loopholes" to a whole new level...Imagine.... the lender actually held the mortgage holders accountable in meeting their contractual agreement?! You have got to be kidding me!!!!This is why they call it a contract.... Your signature to a contract means something... Your word and your committment in signing a contract matters.... and there is a price to be paid for failing to do so... Plain and Simple!!What you fail to mention in your article is that the foreclosure process does not begin for at least 3 months of missed mortgage payments... Tell me something, did this couple have any savings or game plan to meet their obligations if they lost their job??Having found myself in difficult personal financial circumstances in the past, I was determined to find solutions; some of them were: (the combination of such things got me through the worst and actually built back my savings after I succeeded in securing a second job...) A. Get a second job B. Get a third job if necessary ... Most jobs are 9 to 5 Monday to Friday.... That leaves 4 additional hours each evening to work a job and the weekends to work more hours... Won't kill you....(x's two if both of you work a second/third job temporarily) C. Put your savings to use in order to make sure you do not miss a payment... D. Get a renter to help share your expenses E. Sell some of your personal jewelry and possessions in order to raise cash.The truth of the matter, is that if you find it difficult paying your mortgage... and both of you are working.... you should n e v e r h a v e b e e n q u a l i f i e d f o r h o m e o w n e r s h i p ..... in the first place... and if only one of you is working then it is time for the other to get a job....even if it's a retail clerk in a department store or waiting tables in a local restaurant....preferably both....Secondly, if you find yourself missing 3 mortgage payments, there is definitely something wrong with your financial planning strategies... and chances are....you are not saving enough for the "rainy day" our parents described to us...We live in a world that continues to make excuses for irresponsible behavior and we find that those who get involved look to make the lender the "bad guy" ... when in fact .... it is the individual (s) that signed the contract as adults and then proceeded to behave like children when it came time to committing themselves to their obligations....that are the offenders...When responsible individuals take on a mortgage, they generally have enough in savings for at least 6 to 12 months.... and in so doing, have enough smarts to begin to take action way before the foreclosure process begins...Finding cheap tricks to salvage a home when you have clearly demonstrated an inability to meet your obligations is not something to be applauded.... I am surprised you received so much praise for helping your clients “game”
the system with small inaccuracies that take “legal loopholes” to a whole
new level…

Imagine…. the lender actually held the mortgage holders accountable in
meeting their contractual agreement?! You have got to be kidding me!!!!

This is why they call it a contract…. Your signature to a contract means
something… Your word and your committment in signing a contract
matters…. and there is a price to be paid for failing to do so…
Plain and Simple!!

What you fail to mention in your article is that the foreclosure process
does not begin for at least 3 months of missed mortgage payments… Tell
me something, did this couple have any savings or game plan to meet their
obligations if they lost their job??

Having found myself in difficult personal financial circumstances in the past,
I was determined to find solutions; some of them were: (the combination
of such things got me through the worst and actually built back my savings
after I succeeded in securing a second job…)

A. Get a second job
B. Get a third job if necessary … Most jobs are 9 to 5 Monday
to Friday…. That leaves 4 additional hours each evening to
work a job and the weekends to work more hours… Won’t kill
you….(x’s two if both of you work a second/third job temporarily)
C. Put your savings to use in order to
make sure you do not miss a payment…
D. Get a renter to help share your expenses
E. Sell some of your personal jewelry and possessions in order
to raise cash.

The truth of the matter, is that if you find it difficult paying your mortgage… and
both of you are working…. you should n e v e r h a v e b e e n q u a l i f i e d f o r
h o m e o w n e r s h i p ….. in the first place… and if only one of you is working
then it is time for the other to get a job….even if it’s a retail clerk in a department
store or waiting tables in a local restaurant….preferably both….

Secondly, if you find yourself missing 3 mortgage payments,
there is definitely something wrong with your financial planning strategies… and
chances are….you are not saving enough for the “rainy day” our parents described
to us…

We live in a world that continues to make excuses for irresponsible behavior
and we find that those who get involved look to make the lender the “bad guy” …
when in fact …. it is the individual (s) that signed the contract as adults and then proceeded
to behave like children when it came time to committing themselves to their
obligations….that are the offenders…

When responsible individuals take on a mortgage, they generally have enough
in savings for at least 6 to 12 months…. and in so doing, have enough smarts
to begin to take action way before the foreclosure process begins…

Finding cheap tricks to salvage a home when you have clearly demonstrated
an inability to meet your obligations is not something to be applauded….

]]> By: Erikhttp://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-79958 Erik Tue, 09 Mar 2010 17:07:57 +0000 http://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-79958 www.tampabay.com/news/business/realestate/bank-of-america-forecloses-on-house-that-couple-had-paid-cash-for/1072632 http://www.tampabay.com/news/business/realestate/bank-of-america-forecloses-on-house-that-couple-had-paid-cash-for/1072632

]]> By: Erikhttp://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-79953 Erik Tue, 09 Mar 2010 15:05:52 +0000 http://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-79953 Interestingly, incorrect foreclosure filings have all kinds of repercussions. Here, Bank of America conducted foreclosure proceedings on the wrong house. A house which had been paid for in cash was "foreclosed" upon by B of A.Just how common are mistakes on foreclosure paperwork? Interestingly, incorrect foreclosure filings have all kinds of repercussions. Here, Bank of America conducted foreclosure proceedings on the wrong house. A house which had been paid for in cash was “foreclosed” upon by B of A.

Just how common are mistakes on foreclosure paperwork?

]]> By: home repairshttp://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55326 home repairs Sun, 16 Mar 2008 22:00:47 +0000 http://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55326 <strong>Fighting Foreclosure: How One Homeowner Fought the...</strong>Bookmarked your post over at Blog Bookmarker.com! Fighting Foreclosure: How One Homeowner Fought the…

Bookmarked your post over at Blog Bookmarker.com!

]]> By: Annie Maloneyhttp://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55317 Annie Maloney Sun, 16 Mar 2008 17:22:32 +0000 http://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55317 Jim,That cabin is awesome. And no its not for sale, sorry. I would love to sell it to you though. :>) We have many cabins like that in East Tennessee and they are beautiful inside and out. One day.... Jim,

That cabin is awesome. And no its not for sale, sorry. I would love to sell it to you though. :>) We have many cabins like that in East Tennessee and they are beautiful inside and out. One day….

]]> By: Jim Watkinshttp://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55315 Jim Watkins Sun, 16 Mar 2008 16:29:59 +0000 http://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55315 Thanks for the comments guys (and gals). Honestly, I am surprised to see the positive responses because I had thought that the article was really dull when I sent it in. Since I am around foreclosures on a daily basis, instances like this seem routine for me. It really does feel good to be able to help people out like that too. Annie... Is that rustic looking log cabin on your site banner for sale??? That is the most incredible looking house I have seen! -jim Thanks for the comments guys (and gals).
Honestly, I am surprised to see the positive responses because I had thought that the article was really dull when I sent it in.
Since I am around foreclosures on a daily basis, instances like this seem routine for me. It really does feel good to be able to help people out like that too.
Annie… Is that rustic looking log cabin on your site banner for sale???
That is the most incredible looking house I have seen!
-jim

]]> By: Annie Maloneyhttp://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55314 Annie Maloney Sun, 16 Mar 2008 15:33:51 +0000 http://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55314 You did an excellent job Jim. Went above and beyond. Its nice to see that these days. There is such a "everyone for themselves" attitude most of the time. I would venture to say that you made a friend for life....No wonder foreclosures take so long. You did an excellent job Jim. Went above and beyond. Its nice to see that these days. There is such a “everyone for themselves” attitude most of the time. I would venture to say that you made a friend for life….

No wonder foreclosures take so long.

]]> By: Nicolehttp://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55303 Nicole Sun, 16 Mar 2008 03:12:50 +0000 http://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55303 What an inspiring story. I think this could give a lot of people hope. Thanks! What an inspiring story. I think this could give a lot of people hope. Thanks!

]]> By: Fighting Foreclosure: How One Homeowner Fought the Trustee For Time and Won! | The Long List of Odysseus Medal Nominees | Realtors and real estate, mortgages, lending, investmentshttp://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55297 Fighting Foreclosure: How One Homeowner Fought the Trustee For Time and Won! | The Long List of Odysseus Medal Nominees | Realtors and real estate, mortgages, lending, investments Sat, 15 Mar 2008 21:56:44 +0000 http://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55297 [...] Fighting Foreclosure: How One Homeowner Fought the Trustee For Time and Won!, by Jim Watkins. [...] [...] Fighting Foreclosure: How One Homeowner Fought the Trustee For Time and Won!, by Jim Watkins. [...]

]]> By: Joshua Dorkinhttp://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55292 Joshua Dorkin Sat, 15 Mar 2008 20:10:12 +0000 http://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55292 You're right, except they didn't stand a change agains Jim Watkins, the post author. I accidentally posted the article as mine (and have since corrected it). Its great to see that he was such a help to those homeowners!Nice work Jim! You’re right, except they didn’t stand a change agains Jim Watkins, the post author. I accidentally posted the article as mine (and have since corrected it). Its great to see that he was such a help to those homeowners!

Nice work Jim!

]]> By: BawldGuy Talkinghttp://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55291 BawldGuy Talking Sat, 15 Mar 2008 19:56:12 +0000 http://www.biggerpockets.com/renewsblog/2008/03/15/fighting-foreclosure-how-one-homeowner-fought-the-trustee-for-time-and-won/#comment-55291 Josh -- A bored Trustee employee never had a chance against you. Great stuff. Josh — A bored Trustee employee never had a chance against you. Great stuff.

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