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Everything posted by sje123

  1. sje123

    Quiet Title

    What is an action to quiet title when you are in foreclosure and what does it do?
  2. A friend sent something similar to a bank and they basically said they don't have to send any of this.
  3. I had dinner on Saturday night with a couple who are successfully defending their home against foreclosure based on the bank having no original docs. They said they had to have a forensic audit done which cost about 1k and it's not done but they have been at it about 2 years and seem to be doing well. I have a relative in "soon to be foreclosed" program with BoA but they're also throwing every program at them "short sale" "refinance" (with a HUGE write off...for him it's very tempting, they are willing to forgive like 150 of his loan). The people I spoke to on Sat night told me to tell him N
  4. I posted a note about a friend who doesn't want to file for bankruptcy and last night I presented the replies to the post here (she doesn't use a computer much). She said she is reluctant to file for BK because she has asked BoA several times for the original paperwork and trail of mortgage securitizations etc (I'm not sure if I'm using the right terminology). BoA has stated they do not have it. She's leaving the house but doesn't want to file for BK because she is not sure the bank owns it. She doesn't want to just "give" the bank the house if they are not legally entitled to it. (I don't
  5. I've posted in the bankruptcy forum about a friend of mine who is a young widow and does not want to file for bankruptcy. She's trying to settle her debts which include a house that is too far from her job and too big for her to even make the energy payments (electric/oil). I asked her exactly what the situation is with the house and this is what she wrote. If anyone can suggest the best thing for her to do, or other questions to ask, I would appreciate it. "I have 2 mortgages. They were both originally carried by Litton but then went to Bank of America. BoA sold the second one about 6
  6. Her mortgage payment for the first mortgage is more than her monthly salary. Her husband became ill and died after a short time and she had to take a job with about half her original salary to take care of the kids (she traveled on her last job and can't travel as a single parent).
  7. Is it illegal to rent out your home if you are behind on your mortgage? If you have a $3000 mortgage payment and you cannot sell your house for what it's worth and can no longer afford the mortgage, can you move somewhere else, rent out the home for whatever you can get, save all the money to send to the mortgage company and try to work with the bank on a solution while being out of the house?
  8. She is behind 6 months (at least) in everything. A few of her credit cards have gone to collection. Neither of the mortgage companies appear to be bothering her but how does it work if you short sale a house and have a second mortagor? Do they need to sign off on it too? I'm just wondering if there are any pitfalls to her plan versus filing for bankruptcy.
  9. I posted in this forum several months back to help a friend who is a young widow with children with a house underwater a lot of debt (including medical bills from her husband's illness) and how she didn't want to file for bankruptcy. Several of us convinced her to see a bankruptcy lawyer who told her to stop paying her credit cards, save money to get out of the house (get an apt) and then file for bankruptcy. She has 2 mortgages on her home and the first is more than her income. She was not happy and although she stopped paying the mortgage and credit cards about 6 months ago and has enough
  10. so just a thought...if your bank doesn't have your note...what do you do?
  11. This is for a friend of mine that I've spoken about sort of ad nauseum (months ago) on the bk forum (suddenly widowed, took a lesser job to be home with her child, taxes increased [doubled]). She has still yet to pull the trigger on any solution and keeps getting/finding new advice. I don't know if she's deciding not to decide or if there is really some way to figure out the best way to go and she's just not figuring it out.
  12. How do you make that decision? What are the pros and cons of each and why does each lawyer suggest something different?
  13. Scenario: state: New York county: Westchester OC: Countrywide (now BoA) mortgage 2x value of house, owner not interested in keeping the house real estate taxes (already in double digits have doubled) CC bills: high but manageable monthly Some outstanding medical bills (less than 5k) Bank has sent letter giving homeowner 90 days to cure the deficit (is already 90 days behind) but reserves the right to accelerate if owner vacates property. One lawyer suggests filing for bankruptcy right before 90 days are up. One lawyer suggests filing bk before the end of the year (to protect next year's
  14. I'm not looking for anything. I'm looking to see if they have my note. I don't understand your post other than a rage against banks. However, if they don't have my note, why is everyone making such a big deal about it if it doesn't buy you anything?
  15. The original request was a RESPA letter and I asked for it within 60 days. The 60 days is up.
  16. I was asking to see if they had it.
  17. Just because everyone else was doing it, I asked my bank (BoA) for my note. It's been over 2 months and I've received a letter about every two weeks saying they haven't yet found the loan documentation and they are sorry for the delay. I just got another one. What are the chances they don't have it, and what do I do if they don't?
  18. She met with a lawyer last night who said that with her second mortgage neither foreclosure nor short sale is going to give her the relief she wants (as someone mentioned, the second mortgage holder is often going after the homeowner for the deficiency.)
  19. She doesn't want, nor can she afford, the house. It simply is not feasible. She's tried to hold onto it for a year taking odd jobs and hoping the economy would bounce back so she can sell it, but she's finally convinced it's not going to happen. I thought that bk was better than short sale which is better than foreclosure. Please PM me about a short sale with attorney recs. Thanks.
  20. Thank you so much. Very helpful. And I assume (tell me if I'm wrong) that the house being in NY and BoA being the mortgagor, the foreclosure notice might not come for some time.
  21. The phrasing was bad on my part. My friend has a mortgage that is higher than what she makes and a house worth 150k less than she owes. Her husband died 2 years ago and most of their savings were wiped out with his illness. She did pay down a lot of things with his small life insurance but she's still in a huge hole. BoA won't accept partial payments either. She was all set (after much prodding from her friends) to file bankruptcy. Then the moratorium came up and she is thinking that she can stay in the house while the moratorium is on and pay her other bills so she's not harassed and ma
  22. If someone planned to file for bk 7 and has a BoA mortgage, does it make any sense to wait if she can pay all her other bills if she doesn't have to make a mortgage payment?
  23. This isn't me. It's a friend of mine who is young and has a 10 year old son. When they bought the house they both had good jobs and were relatively (early 40s) young. They bought at the height of the real estate craziness with plans to refinance. Of course his illness came along and not only did he leave work and go on SSDI (which is about 1500 a month) but she had to leave a job where she made great money but traveled almost all the time (the dad worked close to home and was the son's prime caretaker). The illness and pay decrease wiped out most of their savings (income decrease and pay
  24. Westchester county NY. I can't say for certain but I think the original mortgage was something like 600k. I know that an appraiser friend of another friend trying to help out this woman said the house would not sell for 500k now. And there is no equity.
  25. Taxes are around 10k a year. They are behind 2 years and they're escrowing the next year so it's 30k. There is no equity in the house (minus about 150k when another friend talked to an appraiser).