The last week of July, 2009 and the first week of August, 2009 was replete with media accounts of how the Making Home Affordable Plan had only allowed for 9% of the estimated 4 million mortgages that needed modification. Now comes a great article that explains why so many are being turned down. That computes to 13% of the eligible mortgages.
The U. S. Treasury Dept. has made it clear that they have virtually no influence on the nations lenders in helping the nation’s mortgage crisis. The 50 state’s Attorneys General have stated that they will, and should, take the lead in examining the records and compliance of the nation’s lenders in filing foreclosures.
Currently there is no advantage to paying a third party to negotiate your mortgage modification or short sale. The REST Report calculates an unbiased Net Present Value so that you and your mortgage investor (not the mortgage servicer) both know what is the best solution to your distressed mortgage. The nation’s courts are admitting the REST Report as a indispensable tool in a foreclosure defense. The judge will not allow your mortgage servicer to foreclose until your servicer negotiates with you in good faith. That means mortgage modification or short sale – not an illegal foreclosure.
The current Foreclosuregate scandal will only intensify the attention and sympathy from the judges to the distressed homeowners. The task then, is for those same distressed homeowners to be prepared to beat their mortgage servicer with their own stick.
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tags: mortgage servicer fraud, sue mortgage lender, mortgage lender fraud,foreclosure fraud, foreclosuregate, robosigner,mass joinder lawsuit, broken mortgage chain of title, demand original mortgage note, fraudulent assignment of title, rest property solutions report, title search,corrupt title, mortgage backed securities,
Originally posted 2009-08-11 21:23:58. Republished by Blog Post Promoter
