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Category: underwater homes

Who Actually Has the Right to Foreclose on Your House?

Picture this: a man purchases a house in 2007 with a loan from a major mortgage lender who then securitizes the loan.  After 7 years of making payments, the homeowner loses his job and defaults on the loan.  The lender sends a foreclosure notice to the homeowner, claiming the ability to foreclose on the loan.  [...]

Finally! Federal Court Blasts Wells Fargo for Using Forged Documents to Foreclose

It took a long time, but New York’s federal courts have finally ruled that forged documents don’t cut it when the banks are trying to foreclose on a homeowner! In a blistering, 30-page ruling, a federal bankruptcy judge from New York’s Southern District has slammed Wells Fargo for falsifying documents in order to foreclose on [...]

Appellate Court Decides Loan Modification Offer Is an Enforceable Contract

Almost every real estate investor who buys short sales or pre-foreclosures has heard this story a hundred times. A homeowner requests a loan modification from the bank, the bank grants a “temporary” modification, payments were made and accepted, then bank changes its mind and forecloses on the homeowner for not making the full, original mortgage [...]

The Banksters Lied In Order To Steal Millions of Houses, But What Does It Mean For You?

There have been over 20 million foreclosures in the United States since 2007 and more than 5.5 million homes have been repossessed. Meanwhile the major banks have been laughing as they cash in to the tune of $65-75 BILLION dollars every month from the Federal Reserve. According to the regulators in charge of protecting our [...]

Federal Court Clears Way for Homeowners to Fight Back Against the Banksters

Another day, another court ruling against the banksters who have fraudulently foreclosed on millions of homes! I have been writing about how the courts have been wising up to the games the banks have been playing to foreclose on properties that they have no claim to, and the latest ruling is one of the biggest. [...]

The Next Foreclosure Crisis Is On its Way – Is Your Investing Business Ready?

It was almost eight years ago that the foreclosure crisis began. More than 5 million homes were lost to foreclosure during those eight years, many of them belonging to real estate investors who are no longer in business. But thing are looking up, right? According to CoreLogic the national foreclosure rate is at 1.7%, down [...]

Court Rules Chase Made Up Documents to Foreclose – What Does It Mean For Investors?

In July, fans of common sense and decency everywhere won a huge victory – in California of all places! The California Appellate Court ruled that Chase created and recorded false documentation in order to prove ownership of a property so they could foreclose on it. This is big news because it shows that the major [...]

So You Proved The Bank Lied About Your Loan. Now What?

Say you are fighting a foreclosure on a securitized loan that you took out during the housing boom.  Using a fraud investigator you were able to prove that the foreclosing entity forged your signature on the note. You rest your case and wait for the judge to come back with a ruling in your favor. [...]

Government Politely Asks the Banks to Please Double Check Their Foreclosures

Were you or someone you know foreclosed on by a lender who is widely known to committed massive and systemic fraud in their mortgage practices? Have no fear. After having been bilked by independent consultants to the tune of $2 billion dollars, the Office of the Comptroller of the Currency has given up investigating the [...]

The Legal Tides Are Turning In Homeowners’ Favor

For centuries the courts have been rigged in favor of the banks. The banks have the kind of time and money that homeowners could never dream of, and they are more than willing to use both to get their way. You’d be wrong, however, to think that’s the only way the system was crooked. If [...]