Federal Home Loans, Foreclosures and COVID-19
As of 3/20/20: NOTE THE FOLLOWING ARE FEDERAL LOAN PROGRAMS and DON’T APPLY TO PRIVATE or CONVENTIONAL LOANS: A list of what the different federal lenders are doing in regard to foreclosures:
Arizona law explaining how a trustee’s sale (called a foreclosure) work. Some very practical tips and flow charts.
Protecting Renters and Homeowners During COVID-19
/in COVID-19, Foreclosure, Trustee Sale and Foreclosure Videos, Trustee Sales /by Diane DrainAnnouncement from NCLC: The COVID-19 pandemic has caused widespread disruption in the daily lives of millions of people worldwide, and the hardest hit are the vulnerable people, families, and communities at the core of NCLC’s mission, and likely at the heart of our everyday life.
Reverse Mortgages – Why Seniors Lose Their Home
/in Consumer Issues, Foreclosure, Trustee Sales /by Diane DrainUrban African American neighborhoods are hardest hit as nearly 100,000 loans have failed. 6/2019 By Nick Penzenstadler and Jeff Kelly Lowenstein, read extensive report – article from USA TODAY Reverse mortgages – thousands of seniors, who worked their entire life to own a home, are finding their homes foreclosed for several reasons. The problem is […]
Arizona Trustee Sales, Foreclosures and Short Sales
/in Deficiency, Excess Sale Proceeds, Foreclosure, Trustee Sales /by Diane DrainWARNING TO THE WISE: Never do a short sale, deed in lieu of foreclosure, allow a trustee’s sale, or a foreclosure to go forward without first obtaining both legal and tax advice. You cannot undo serious mistakes once the process is completed.
Tenants Facing Foreclosure Protected by New Federal Law
/in Foreclosure, Trustee Sales /by Diane DrainOn May 24, 2018 a permanent extension of the “Protecting Tenants at Foreclosure Act” (PTFA) was signed into federal law. The PTFA enables renters whose homes were in foreclosure to remain in their homes for at least 90 days or for the term of their lease, whichever is greater.
Buying at a Foreclosure May Become a Disaster
/in Foreclosure, Trustee Sales /by Diane DrainReprint from Lexology, by Richard Crouch: Vandeventer Black LLP USA February 14 2018 Looming maturity dates (for which borrowers are not prepared to pay the remaining balance) or other monetary defaults of numerous commercial mortgages may present many opportunities for purchasing property on a discounted basis. With proper precautions and investigation, what appears to […]
Reverse Mortgage Nightmare – Why Seniors Are Losing Their Homes
/in Consumer Issues, Trustee Sales /by Diane DrainThe problem, say advocates, is that many senior homeowners don’t understand the fine print in a reverse mortgage. Some wrongly assume the lender will pay the taxes and insurance. But fall behind on those payments or fail to maintain the home, and the lender can foreclose. The surviving spouse is also subject to foreclosure if […]
Bank of America Holds Family Hostage According to Judge
/in Bankruptcy, Bankruptcy Videos, Consumer Financial Protection Bureau, Loan Modification, Trustee Sales /by Diane DrainOctober 19, 2017 – Article posted in Bloomberg.com. Bank of America seems to think they can bully a bankruptcy judge, like they did a California couple in a nightmare foreclosure, but the judge is not standing for it. For several months Bank of America attorneys have attempted to convince U.S. Bankruptcy Judge Christopher Klein to […]
Typical Foreclosure and bankruptcy con artist scam
/in Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Trustee Sale and Foreclosure Videos, Trustee Sales /by Diane DrainInnocent homeowner caught in bankruptcy scam “I tried to keep my home despite the fact they started foreclosure proceedings. I self represented myself and filed initial bankruptcy chapter 13 forms which stopped the first trustee sale/ auction date. I got stuck on the second set of forms and missed deadline. I accepted the fact I […]
Bank of America Penalized $45 M for Wrongful Foreclosure
/in Consumer Issues, Creditors, scams, Trustee Sale and Foreclosure Videos, Trustee Sales /by Diane DrainIn re: Sundquist v. Bank of America, NA | Bank of America Hit with $45 Million in Punitive Damages for Stay Violations In re: ERIK SUNDQUIST and RENÉE SUNDQUIST, Debtors SUNDQUIST v. BANK OF AMERICA, N.A.; RECONTRUST COMPANY, N.A.; BAC HOME LOANS SERVICING, LP, Defendants, United States Bankruptcy Court for the Eastern District of California,March […]
