JPMorgan CHASE STOPS FORECLOSURES!!!

[justbroke]

please tell me...i'm certain it will explain why chase and this government task force cannot give me answers as to why they will not accept my warranty deed and general release...or simply just foreclose....

There is potentially some Congressional oversight or, at a minimum, a Justice Department review of the shenanigans going on. There was one case in a Southern District of Florida case where a law firm was signing "Allonges" (addenda to a Promissory Note) as if they were an officer of the bank that held the note and mortgage! They testified under oath that signing those allonges was something they routinely did and they even indicated that they were neither officers of MERS nor officers of the foreclosing entity! Shameful, really. It would have only taken another few weeks to get the paperwork correct.

This little moratorium period is just so that the Banks can review not only their procedures, but to make sure that the "Foreclosure Mills" are doing their jobs properly, since they do so in the name of the Bank! I suspect that this is why you are getting nowhere with Chase right now. They really don't want to start to have a backlash of rescinded Foreclosure Judgments!

In any event, this doesn't quash the lien and note at all. It just ensures that the entity/person prosecuting the Foreclosure, is actually the RIGHT party to grant a judgment to! There was one case, I think in Florida as well, where the person had their home foreclosed while in Bankruptcy. Then, shortly after, the REAL HOLDER OF THE NOTE stepped forward! What a mess!

[tobee43]

I'm frustrated by all of this myself. I have a rental home that I surrendered during my BK which took place over two years ago.

I'd rather have my name off of this thing because I continue having to pay $250 per month HOA dues (now that is an absolute racket to have to continue paying that - which lobbyist agreed to those terms?). But also more importantly I want to eventually purchase a larger home than the one I live in now and I can't do that so easily with this albatross hanging around my neck still.

You would think by now they would have sold this thing. And in fact it was listed for foreclosure sale and at the last moment was pulled as a result of all of these issues. It sucks...

I tried calling my attorney, he knows nothing about it. Called the mortgage company's attorney and they won't talk. Called the county in Pennsylvania where the home is and they don't know anything either. So who can I talk to who actually knows something?!?

i feel your pain.....me too....been there done that. congress is going to do something!!! this is so terrible!!

[trying_to_fix]

I'm frustrated by all of this myself. I have a rental home that I surrendered during my BK which took place over two years ago.

I'd rather have my name off of this thing because I continue having to pay $250 per month HOA dues (now that is an absolute racket to have to continue paying that - which lobbyist agreed to those terms?). But also more importantly I want to eventually purchase a larger home than the one I live in now and I can't do that so easily with this albatross hanging around my neck still.

You would think by now they would have sold this thing. And in fact it was listed for foreclosure sale and at the last moment was pulled as a result of all of these issues. It sucks...

I tried calling my attorney, he knows nothing about it. Called the mortgage company's attorney and they won't talk. Called the county in Pennsylvania where the home is and they don't know anything either. So who can I talk to who actually knows something?!?

[tobee43]

got it...now if jb can explain it...

Judicial and Non-Judicial Foreclosures

"Each state in the U.S. handles it's real estate foreclosures differently, it's important to understand those differences and know your specific state's procedures. The terms used and time frames vary greatly from state to state, but the following information provides a general overview of the different processes and considerations. If you haven't done so yet, you can review our guide to each state's procedures at foreclosure procedures.
Judicial Foreclosures

Judicial foreclosures are processed through the courts, beginning with the lender filing a complaint and recording a notice of Lis Pendens. The complaint will state what the debt is, and why the default should allow the lender to foreclose and take the property given as security for the loan. The homeowner will be served notice of the complaint, either by mailing, direct service, or publication of the notice, and will have the opportunity to be heard before the court. If the court finds the debt valid, and in default, it will issue a judgment for the total amount owed, including the costs of the foreclosure process. After the judgment has been entered, a writ will be issued by the court authorizing a sheriff's sale. The sheriff's sale is an auction, open to anyone, and is held in a public place, which can range from in front of the courthouse steps, to in front of the property being auctioned. Sheriff's sales will require either cash to be paid at the time of sale, or a substantial deposit, with the balance paid from later that same day up to 30 days after the sale. Check your local procedures carefully. At the end of the auction, the highest bidder will be the owner of the property, subject to the court's confirmation of the sale. After the court has confirmed the sale, a sheriff's deed will be prepared and delivered to the highest bidder, when that deed is recorded, the highest bidder is the owner of the property.


Non-Judicial Foreclosures

Non-judicial foreclosures are processed without court intervention, with the requirements for the foreclosure established by state statutes. When a loan default occurs, the homeowner will be mailed a default letter, and in many states, a Notice of Default will be recorded at approximately the same time. If the homeowner does not cure the default, a Notice of Sale will be mailed to the homeowner, posted in public places, recorded at the county recorder's office, and published in area legal publications. After the legally required time period has expired, a public auction will be held, with the highest bidder becoming the owner of the property, subject to their receipt and recordation of the deed. Auctions of non-judicial foreclosures will generally require cash, or cash equivalent either at the sale, or very shortly thereafter.

It is important to note that each non-judicial foreclosure state has different procedures. Some do not require a Notice of Default, but start with a Notice of Sale. Others require only the publication of the Notice of Sale to announce the sale, with no direct owner notification required. You need to know the specific procedure for your state."

[tobee43]

These are the "lucky" 23:

Connecticut, Delaware, Florida, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Nebraska, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, South Dakota, Vermont and Wisconsin.

we're THERE!!! ok...now jb.....what is it i'm so excited about being included in????? LOL!!!

please tell me...i'm certain it will explain why chase and this government task force cannot give me answers as to why they will not accept my warranty deed and general release...or simply just foreclose....

please explain if you would be so kind!!

[justbroke]

These are the "lucky" 23:

Connecticut, Delaware, Florida, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Nebraska, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, South Dakota, Vermont and Wisconsin.

[tobee43]

Well, for those who want to stay in their homes longer, this is good news. However, it appears to be a paperwork issue and they stil concede that you'll still lose your home... it will just take some time. Those that live in the "judicial" foreclosure States (23 of them, of which Florida is one), are very lucky.

jb....is new jersey one?????

a judicial state...i mean i know it's a mob state...and a criminal state....but i know that jersey was one that was listed first as one of the states originally halted with the procedure.

i know we had to move down here and get our 2 years in before filing...since we were better off...but the house we own is still there...even our atty has no clue.

[justbroke]

Well, for those who want to stay in their homes longer, this is good news. However, it appears to be a paperwork issue and they stil concede that you'll still lose your home... it will just take some time. Those that live in the "judicial" foreclosure States (23 of them, of which Florida is one), are very lucky.

[tobee43]

I hear you tobee. I'm a single "older" (57) woman and the neigbors always take care of my shoveling. The kids next door have parents my age and I think the wife makes him do it! They also help with lawn care because I have a vegetable garden and share what grows. Their little girl treats me like a gramma and helps with the garden.

I live in a semi-middle class neighborhood and we had a rental property that turned into a drug house. We ALL got involved and forced the police and the city to close it down. I think it brought us all closer because nothing like that had happened before and now we all watch out for each other. It's going to be sad to leave them but...do not mind giving back the upside down house.

yes, change at our age...we are about the same is not alway easy. it sounds as though you at least had some friends in the area.... a drug house??? holy cow. what a mess that must have been for you!


i'm just wondering what the banks are going to do with all these properities????

[discouraged]

I hear you tobee. I'm a single "older" (57) woman and the neigbors always take care of my shoveling. The kids next door have parents my age and I think the wife makes him do it! They also help with lawn care because I have a vegetable garden and share what grows. Their little girl treats me like a gramma and helps with the garden.

I live in a semi-middle class neighborhood and we had a rental property that turned into a drug house. We ALL got involved and forced the police and the city to close it down. I think it brought us all closer because nothing like that had happened before and now we all watch out for each other. It's going to be sad to leave them but...do not mind giving back the upside down house.

[tobee43]

I'm sure that is what I am going to do. My neighbors are heartsick because I have been the best neighbor they have ever had so they will be happy that I'm not leaving 'tomorrow'. Lol. I have put so much into this place - oh well, it's been a real learning experience. I don't mind the cold - not since I insulated the place.

well we lived in our neighborhood for ove 33 years and didn't even know our neighbors' NAMES....that's NOT the way it was when we first moved in and raised the kids. it was a great place.

but as time when on new people moved in and we just never got to know them. most people moved out because who the HECK needs a 10 room house to clean and maintain....but we were in no position to leave even when it was good because of our jobs.

it was SO funny....when some of the neighbors saw the moving van come...then came over...and finally introduced themselves...LOL!!!!!!!!!!!! they asked where we were going.....well, there were at least 5 neighbors that asked and each one was told a different state....

i did mind the cold because we had a HUGE driveway to maintain and it was difficult all the way around. the ice was terrible and dangerous...and we are just TO old for this stuff!! LOL

so i'm happy we are gone..we did put a lot and took pride in the house, but after all it was getting old and the harsh winters had taken their toll so the house was badly in need of extremely expensive repairs although it looked perfect...we knew better. once you start having flooding, septic and leech field problems it's just a matter of time...it just begins to..( no pun intended)...snowballs...LOL!!!


best of luck discouraged...stay as long as you can!

[discouraged]

I'm sure that is what I am going to do. My neighbors are heartsick because I have been the best neighbor they have ever had so they will be happy that I'm not leaving 'tomorrow'. Lol. I have put so much into this place - oh well, it's been a real learning experience. I don't mind the cold - not since I insulated the place.

[tobee43]

That would be interesting. I wouldn't mind staying in my house, even though it needs a lot more work. I remodeled it to the point (new insulatin, wallboard, siding, roof) where the utilities have gone from 300 month first year to 70 month current. So it's a comfortable place to live, if you don't mind the non painted walls - I quit when I realized I wasn't going to be able to keep it.

yes...shoot...had i known now what i know...we could have stayed forever...LOL!!!

but it was TOO cold and it was time to leave for us. actually after 33 years past due.

if i were you i would stay and keep the bucks until they throw you out! you'll be with excellent company...

[tobee43]

As far as I know the mortgage servicer is responsible for paying taxes and insurance.
And more and more cities are requiring them to maintain abandoned properties (cut the grass).
My suspicion is that a lot of original documents were lost when companies went belly up.
I think with electronic document filing the plaintiff attorneys have a lot of leeway to "manufacture" fraudulent documents.
Most of the time people just default and no one is the wiser.
In the rare cases where the defense attorney demands to see an original document the case is probably dropped,
then they have to go find the original documents and refile.
I think up till now courts gave plaintiff's a lot of slack in this regard.
Maybe now that this is such a public issue and the courts' integrity is at stake, the tipping point has been reached.
They won't give people free houses, but it could result in many "Mexican standoffs" where they can't foreclose but the owner can't sell the house either.

oh...and cat our house in new jersey

[discouraged]

That would be interesting. I wouldn't mind staying in my house, even though it needs a lot more work. I remodeled it to the point (new insulatin, wallboard, siding, roof) where the utilities have gone from 300 month first year to 70 month current. So it's a comfortable place to live, if you don't mind the non painted walls - I quit when I realized I wasn't going to be able to keep it.