# anyone know how to stall or stop a foreclosure??



## bkworm8it (Nov 17, 2008)

My brother and his wife are having trouble with their mortgage. they called the company in Dec asking for help as they were having trouble but still on time with their payments. The company told them they had to be behind before they would do anything to help them out. Well of course they fell behind like they knew they would and now the company says they have to be caught up before they will help  

Now they are told they have to move out by March 28th. 

It just irks me that all these banks and Wall street getting all these bailouts but those who really need it are not getting help they need. they were doing fine until his job cute his pay last year so it wasn't like they bought a house that was too much for them. They've had that house for 8 years with no trouble.

Anyone have any idea's how to forstall or stop the foreclosure? Or are we just sol?

theresam


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## Buttercup (Oct 28, 2008)

I saw a video on some news site the other day that said you can stall a foreclosure by telling the bank to "produce the note" which in most cases they can not since mortgages have been sold and passed around so much in the last few years.

http://abcnews.go.com/US/wireStory?id=6897985


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## LDB (Oct 28, 2008)

Suggest a copy of The Total Money Makeover from the library and a call to Dave Ramsey's show to them.


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## bkworm8it (Nov 17, 2008)

LDB said:


> Suggest a copy of The Total Money Makeover from the library and a call to Dave Ramsey's show to them.


I didn't realize he had a section about forclosures. Maybe I should check it out myself too, because I may be in the same boat soon since I've lost my job (laid off again).

Thanks Buttercup, I had thought that was just a rumor but with the news posting I called and told him to ask for that. At least that would give them more time to find a rental and pack up.

theresam


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## LDB (Oct 28, 2008)

He doesn't have a bankruptcy chapter in his book but it's a good overall system and deals with what things to pay and what to postpone. He frequently talks about foreclosure with callers. That's why I suggested calling in.


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## thejackylking #884 (Dec 3, 2008)

Don't worry too much.  Obama and the Dems have a $3.7 Trillion spending bill that is going to put a roof over every head and government cheese on every sandwich.   There is actually some provisions in our new economic debt plan to help bail out homeowners.


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## thejackylking #884 (Dec 3, 2008)

bkworm8it said:


> My brother and his wife are having trouble with their mortgage. they called the company in Dec asking for help as they were having trouble but still on time with their payments. The company told them they had to be behind before they would do anything to help them out. Well of course they fell behind like they knew they would and now the company says they have to be caught up before they will help


And this is one of the reasons why we are having a housing crisis in this country. Banks have no clue how to serve their customers. They need to look at Amazon customer support and see how it's done.


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## ricky (Dec 24, 2008)

bkworm8it,
I am really sorry about your brother and his wife, and I hope that you will be able to get another job soon.  I feel like I know you because I love your Avatar so much... I know, I am crazy  
Have they thought about bankruptcy...  Also find out about Homesteading Laws in the state that they live in. If you are in California, there is a group of people who publish a series of books that help people through things like this.  They are called Nolo Books.  Self help type books with advice and forms and instruction that the average educated, literate citizen can use without having to pay a lawyer.  I did my divorce with their book's help and saved myself tons of money.  
I am NOT a lawyer, but this is just my own personal experience speaking......


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## Wannabe (Nov 6, 2008)

Bookworm:
So sorry to hear about your brother's problems. Unfortunately, this is an all too common occurance these days. It's unbelievable that a bank would rather have them out on the street than help them through this rough patch. I wonder if that bank took advantage of a taxpayer-funded bailout?


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## marianneg (Nov 4, 2008)

Can they sell the house?  If they've been there 8 years, they may have a little equity, depending on what housing values have done in that area, of course.  Even if they can't get what they owe on it, though, a short sale is better than having a foreclosure on their credit.


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## Guest (Mar 4, 2009)

They should build a baseball diamond out in their yard.


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## rho (Feb 12, 2009)

bkworm8it said:


> Now they are told they have to move out by March 28th.
> Anyone have any idea's how to forstall or stop the foreclosure? Or are we just sol?


I've read (but can't quote where because I don't remember) that some banks are letting people stay in their homes so the houses aren't vacant - maybe that is something they can look into for a place to live at least -

Can they find out who the bank President or CEO or whatever they would be and send them a letter stating what they could do payment wise and try to work something out -- if they do though send it Private and Confidential and signature required. That way it does get to the person you are addressing. But I would do it with some kind of plan of what they can do to show good faith... it's worth a try at least


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## bkworm8it (Nov 17, 2008)

Thanks everyone for all your sentiments and advice. We live in WA state. One would think in this state they would be more helpful but not. The equity in his house dropped so now his upside down in the house. (I actually came out even. Had equity but now its just the value is about the same as what I owe, maybe slightly less.)

I spoke with him late last night. He's going to call a different lawyer, a bankruptcy and forclosure specialist. Hopefully they can delay it. He was told they had to be out by they 28th and they were auctioning off the house the 28th of this month. 

I don't the new debt plan will not help him. I doubt they will help me we are not considered minority and have too much income. For me being single, I always make too much income. Even when I'm unemployed.

The first mortgage company is GMC and nothing he has done asked begged has worked with them. I don't know if he spoke with the CEO though.  He did say, that his second mortgage is begging to work with him because they get nothing on a forclosure.

My brother said he would be my Guinea pig so I know what to do if I get in that spot. But I'm thinking I may call my 2nd mortgage company and see if they would be able to help while I'm unemployed so they don't loose out if I loose the house. For me if I could just lower the interest and the payment for a few months (as long as a job comes along) I will be ok. 

Thanks Ricky, I love my avatar too. She's a big sweety. I cant believe that such a big dog is so sweet and calm.  Cant believe she was dumped and picked up by the pound. But I'm glad they did because I love having her. My biggest worry in loosing my home is not being able to take her with me. The little one, I'd be able to find a place that would take her. Don't worry though, my mom and sister both have clamored to take in Abby but it still wouldn't be the same. Not having her flop on me every morning when she is ready to get up!  

theresam

PS: BJ, I don't think their back yard is big enough for a ball diamond. Not to mention with 3 large dogs not sure if anyone would want to walk around back there!


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## robin.goodfellow (Nov 17, 2008)

> The first mortgage company is GMC and nothing he has done asked begged has worked with them. I don't know if he spoke with the CEO though. He did say, that his second mortgage is begging to work with him because they get nothing on a forclosure.


This is very unfortunate about your brother, bookworm. Is he older or younger than you? Not that it matters, I'm just curious. I have a younger brother myself (although I tell people he's the older one b/c he's taller), and sympathize with your frustration.

And the unfortunate bad news is that GMAC has probably not lost his loan papers. lol, I read in a story a few months back about a man in Florida that had stopped paying on his mortgage b/c nobody could come up with his mortgage paperwork, and apparently this is not uncommon. I called GMAC in the middle of reading that story and my account rep said "Thank you for calling Ms. Goodfellow. We have not lost your paperwork. Your payment is still due on the 9th. Thank you for calling. I have to go answer this same exact phone call 58 more times, then I'm going to assassinate whoever wrote that article."

It seems to me that it would be in everyone's best interest (the mortgage brokers, the banks, your brother, congress, whoever) to work with your brother to let him stay in the house, especially if he can make some sort of good faith effort for payments. Having a house occupied has got to be less of a liability than an emtpy house just sitting around.


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## thejackylking #884 (Dec 3, 2008)

http://rss.cnn.com/~r/rss/cnn_topstories/~3/qAGC20VlH0k/index.htm

This is an article about Obama's plan to help homeowners who are in danger of foreclosure. There may be help for them yet.


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## bkworm8it (Nov 17, 2008)

thejackylking said:


> http://rss.cnn.com/~r/rss/cnn_topstories/~3/qAGC20VlH0k/index.htm
> 
> This is an article about Obama's plan to help homeowners who are in danger of foreclosure. There may be help for them yet.


Thanks for the article. I was having trouble finding anything about the new package. Neither one of us can do the refi since we do not have Fannie Mae/Freddie loans - I did when I first bought the house but refinanced just before the intrest went up. I will check about the 2nd mortg thing. If I could drop that one then I could live even on unemployment and or a reduced salary. Just have to figure out how that's done!

I'll check out www.hud.gov.

Robin, he's older by 2 years. Though people who did not know the family that we were twins. Twin boys that is ;( Up until my early teens and we also had pretty much the same voice. Later people thought we were fraternal. up until our early 30s.

theresam


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## bkworm8it (Nov 17, 2008)

Here's an update - already lol.  The bank is now willing to work with my brother with the new stimulus. They will go over his stuff and have an answer with in 30 days as to what will be done.  Move out day has been moved to May while waiting for answer within next 30 days. So they have another month or so to stay.

As for me, I called my bank and they told me they are not participating. I said hunh? I didn't think it was an option for companies. They said it's only for Freddie Mae and Fannie and they are not going to participate in anything else. So guess I'll have to try calling again tomorrow to see if they have a different answer.

theresam


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## didir1010 (Feb 21, 2009)

Even if your bank says they "have your note" if you are in trouble and are being forced out, make them produce it.  If they cannot produce it in court they technically have no right to say you have to get out because they cannot prove that they are the company that you need to be paying the mortgage too.  Robin - GMAC may say that they have the note, but that is more than likely the "pat" answer their Customer Service department was told to say over the phone, especially since most people who are calling aren't in trouble, but wanted to see if there note is in file or not.

I work at a bank myself and have seen soooooo many times when I was trying to look for items in our image system how things just "disappear".  It is amazing.  There are times when something is not in image that we have to request a copy from the "vault" to be faxed to us and lo and behold I get an email from the vault that the paperwork (note/title insurance/mortgage itself) just isn't there.  And we are supposed to be one of the "better" "conservative" banks.... so it doesn't hurt to still ask for it (again if you are in trouble and being forced out).

Good luck to your brother, theresam!!!

-Didi


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## robin.goodfellow (Nov 17, 2008)

> Robin - GMAC may say that they have the note, but that is more than likely the "pat" answer their Customer Service department was told to say over the phone, especially since most people who are calling aren't in trouble, but wanted to see if there note is in file or not.


lol, I know that I totally called to see if I could just stop making payments. I realize that they are busy people, with a lot on their minds, and that there really is not a lot of time for joking around in this economy, but I just could not resist. No house payments? Who would complain about that? If we're going to expand on Anju's version of hell (chocolate as an entree), I'm thinking free housing would be in the top 10 list.


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## LDB (Oct 28, 2008)

Silly me. I paid off my 30 year mortgage in 13 years before the messiah showed up and the lady on tv said how great it will be not having to worry about house payments and gas for the car. If we help him he's going to help us.


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## 1131 (Dec 18, 2008)

Good news that your brother's bank is willing to work with him. He still needs to know his rights so meeting with a lawyer is a good idea. Here is a web site that can give him some information

http://www.washingtonlawhelp.org/WA/index.cfm

If this doesn't work, search Northwest Justice Project, click on the self-help link at the top of the page and you will be directed to Washingtonlawhelp.org.


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