Welcome to another edition for our Ezine-Newsletter as always you will find some very useful and sometimes very revealing information. Best of all its free so tell your friends.

.

God Bless!

Guy Te

Date of Newsletter: 01-2008-07

This Issue Number, Category and Headline: Real Estate - Stop Foreclosure - 7 Tips to Make You the Victor Instead of the Victim When Facing Foreclosure

Issue # 1

By Guy Te Watson

The borrower/homeowner is the real victim and one being wronged in a foreclosure most of the time not the lender.  Lenders knowingly violate the law to get a sale and put borrowers in loans where the lender knows they will more than likely default on and lenders do a host of things wrong to make this happen. It’s called Predatory Lending and the lenders do it all the time that is why there have been laws put in place against these practices.  Consider the below tips to help make you the victor and stop foreclosure.

1. Get the bankers on over charges that they have been charging you in your payments and this causes their foreclosure process to become a wrongful foreclosure because they are stating a wrong amount that you are in default and you may not be in default at all at the time you received your default notice depending on how much you were over charged over the months and years in you monthly mortgage payments.

2. If you are foreclosed on the bank sells your property and you don't really want to keep it you are still due any amount the buyer paid at auction over the amount the bank required as the full amount of the debt owed by you.  Many times the buyer at auction pays up to $20,000 or more than was owed on the property to the bank. This amount over the amount due to settle the debt in foreclosure is due to the homeowner. First of all, people don't even know this can happen a lot and secondly they don't know that the amount over the debt owed on the house belongs to them. Lastly, homeowners are tricked out of the money over the amount owed that is paid by the buyer. Don't let this happen to you.

3. Many times there are problems and violations f the law that occurred prior to and during foreclosure that can be challenged even after the sale of a property and you can have the sale of your home set-aside and the property returned to you. This option is available in many cases so have your foreclosure looked over by an expert that can work with you to bring a suit to set-aside the sale of your home if a sale has already happened.

4. You can challenge the foreclosure and have it stopped with specialized laws/statutes that are on the books and that greatly favor the borrower's rights. Truth In Lending (TILA) RESPA and HOEPA are but a few. It have been found that 70% of the mortgage contracts have severe enough violations to by law void the mortgage agreement and bring the bank back to the table to renegotiate the mortgage terms and conditions and interest, etc....

5. Turn the tables on the Lender and instead of you owing them money have the expert find the violations that occurred in your mortgage process and contract and obtain damages money that is due you that will off-set the money you owe the bank and even get back any money over your default amount in your pocket or that the excess damages money put on you principle and therefore reduce your monthly payments.

6. Many times the contract for mortgages are complicated and confusing and in violation of well established contract laws.  The terms being used are not being explained clearly enough so that there is a true meeting of the minds which there must be in order for a contract to be valid. You can have your mortgage looked over for such contract violations which almost always exist and bring suit to void your original mortgage and force the Bank to the bargaining table to negotiate better terms and conditions in your favor and stop the foreclosure.

7. Statistics show that up to 85% of the time when a homeowner resolves his foreclosure he is back in foreclosure within a year.  This is because most of the conventional ways of resolving foreclosure like loss mitigation forbearance agreements and bankruptcies do not put the homeowner in a better situation to be able to afford his or her home in the long run. The only way to do that is to improve the terms and conditions of the mortgage loan a great deal in the favor of the homeowner/borrower. 

There is usually no reason for the Lender to do that.  The only motivation the lender would have to do that is because the lender has been caught in violations of the law in favor of the homeowner and the lender has been shown by the borrower/homeowner or his/her attorney the borrower is aware of the violations and is prepared to beat them in court and expose their liability and make a public display of the banks bad dealings.

Exposing the bank in public will cause the bank to get less business because of a bad reputation. Also, if a Banker/Lender looses in court and has a judgment against his Bank when the Banker goes to their money lenders namely The Federal Reserve - Private Lenders, etc... and the banks lenders see a judgment against the bank that bank becomes a bad risk to its own lender and the bank will pay much higher rates for its money, up to a point of more and this is money that bank is losing. Therefore, Bankers don't want judgments against their banks and will usually settle out of court when shown there is a good possibility they could loose a court case.

For more information on where to find a foreclosure debt settlement expert to help stop your foreclosure or to help your client stop a foreclosure go to:
http://help-to-stop-foreclosure.net/

 

Without Prejudice - All Rights Retained
Copy Claim June 2008, Watson Lord and Watson - Guy Te Watson