Loan Modification Gone BAD! Ends in Foreclosure Filing

Loan Modification – Alright Things Are Going Great

According to reports, to Feliciano Mendez’ delight, Bank of America sent him a letter stating that his loan modification was approved.  Of course, he began making payments, as this was most certainly a great relief to he and his family.  Like many other hard working Americans, he ran into financial hard times because of a decline in his trucking business.

Feliciano stated that he begged the bank to work with him. Bank of America sent him a loan modification that looked good, so he signed it and sent it back to them.

Loan Modification Docs Again?

Sometime later, Bank of America sent him a second loan modification document. It looked just the same to him and he says his loan officer assured him that it was simply a duplicate loan modification and therefore, he didn’t need to sign it if he had already signed the first loan modification.

loan modificationWell for the next nine months, Feliciano Mendez paid the loan modification amount with a money order, as the bank had directed.

Loan Modification Ends in Foreclosure Anyway – What??

He then called in May, asking whether he could start paying the loan modification with personal checks instead the money orders he was sending. Mendez says that the bank informed him it had decided to foreclose on his home and had already posted a sale date of June 10.

Needless to say Mendez said he and his wife were shocked when he was found out about the bank’s decision.  Actually his wife took it harder then he did.

Even today, he said, his wife loses sleep, can’t concentrate on work and sometimes can’t bring herself to answer the front door because she is so distraught over the possibility of losing her home.

Mendez successfully filed a lawsuit, which temporarily blocked the foreclosure. But lawyers for Bank of America  are trying to dismiss the case.

Mendez’ attorney, Brian Andrews, said Bank of America blames the foreclosure on Mendez [what else is new!] They say that it was his failure to sign the second agreement for loan modification. However, Andrews says that before filing suit, he called four (4)  Bank of America employees and they all confirmed Mendez’s account – that he had been told not to sign the second set of loan modification documents since he had already signed the first set.  Andrews stated that they say it’s all a ‘mistake’ on the part of the bank.

Are you thinking about doing a loan modification?  Well, please think again and watch you back.  Do your best to not let this happen to you.  Instead of, or along with, a loan modification, you may have other avenues.  I provide a Free No Obligation review of homeowner’s loan documents to help you with other options and lots more.

Call (888) 819-6554 or fill out the Stop Foreclosure Help email form, Click Here —>>


Are you thinking about doing a loan modification?


MERS 62 Million Homes May Become Free and Clear Some Day!

Yep, it’s true it’s my understanding over 62 million homes are currently held in the name of MERS [Mortgage Electronic Registration System].  This is a system that was concocted by and for the benefit of the mortgage industry.  A bankruptcy court in California recently ruled that this electronic shortcut makes it not possible for banks to prove and establish their ownership of property titles; therefore they can not foreclose on mortgaged properties and this decision was made following landmark cases in other jurisdictions.

More MERS 62 Million Homes Problems:

So logically speaking this could be the beginning of foreclosure-proof homes, an approx. whopping 62 milli62 million homeson homes!

Bundling mortgages into securities were a favored type of investment of speculators at the height of the financial bubble which led to the crash of 2008. Oftentimes, the securities changed hands numerous times, and to top it off it seems the companies profiting from the mortgage payments were all to often not even the same parties that negotiated the loans with the consumers. May I add – it’s probably way over 62 Million Homes too.

Now, you guessed it, at the center of this disconnect was the Mortgage Electronic Registration System, or MERS. MERS is a company that acts as the mortgagee of record for lenders, which allows  properties to change hands without the necessity of recording each transfer.  That, in case you didn’t know, is a big 62 Million Homes of NO NO!

MERS a Bust with These 62 Million Homes on the Brink:

Oh sure, MERS was very convenient for the mortgage industry. However courts are now questioning the impact of all of this financial juggling when it comes to who owns the mortgages of the 62 million homes. And rightfully so.  FYI: In order to foreclose on real property, the plaintiff must establish the chain of title thereby entitling it to relief. Yet, MERS has acknowledged, and recent cases have also held, that MERS is just a “nominee” — which means it’s an entity appointed by the true owner simply for the purpose of holding property in order to facilitate transactions. The great news is, that recent court opinions stress that this defect is not just a procedural one but is a substantive failure, one that is fatal to the plaintiff’s legal ability to foreclose on a possible 62 million homes.

What does this mean? It means that hordes of victims of predatory lending could end up owning their homes free and clear – and the financial industry could end up falling on their on sword.

Maybe you are one of the 62 million homes.  I offer a Free – No Obligation Consultation And Audit of your mortgage situation.

Call (888) 819-6554 or fill out the Stop Foreclosure Help email form, Click Here —>>


Do you think you may be in one of the 62 million homes?

State Probes Into 3 Law Firms For Falsifying Foreclosure Documents

It has come to my attention that the Florida Attorney General’s office just announced they are conducting  investigations into the state’s three biggest foreclosure law firms for allegations of deceptive and unfair actions.

These firms, which at times are called “foreclosure mills,” are the Tampa-based Shapiro & Fishman, Fort Lauderdale Law Offices of Marshall C. Watson and the Law Offices of David J. Stern, based in Plantation.

A lawsuit seeking class action status was filed by a Fort Lauderdale attorney against Stern just last month. The lawsuit is claiming this firm generated fraudulent mortgage assignments, basically falsifying foreclosure documents when they were pursuing foreclosures.

FYI: an assignment is held by the entity that has the right to receive mortgage payments.

The law of offices of David J. Sterne according to the lawsuit filed up to a whopping 7,000 foreclosure cases in Florida every month last year, presumably with fabricated foreclosure documents . As if that wasn’t bad enough, the lawsuit also alleges this firm pursued foreclosures for lenders that didn’t even own the debt on the homes.

According to records, Miami based attorney, Jeffrey Tew is representing the Stern law offices. According to Tew, Stern and his company have done nothing wrong

“This foreclosure crisis was not created by David Stern, but it is so huge and a lot of people are in very bad shape, so some of the finger-pointing goes to him,” attorney Tew said.

Mr Tew went on to say that portions of the lawsuit that claim Stern conspired to confuse ownership of homes is “fantastical”/fantasy.

Attorney General Bill McCollum’s office released a press release and it says due to the fact that many mortgages have been bought and sold by financial institutions numerous times, some vital foreclosure documents/paperwork involved in the process to obtain foreclosure judgments is oftentimes missing.

“On numerous occasions, allegedly fabricated documents have been presented to the courts in foreclosure actions to obtain final judgments against homeowners,” the press release states. “Thousands of final judgments of foreclosure against Florida homeowners may have been the result of the allegedly improper actions of the law firms under investigation.”

In June a judge, Circuit Court Judge Michael Traynor, dismissed a case because he said in his opinion the court “has been misled by the plaintiff from the beginning” and that documents “have changed as needed to benefit the plaintiff.”

Don’t let this happen to you! Get expert help to look over your loan and foreclosure docs.

Don’t think for a moment that these types of fraudulent activities are only going on with just three law firms in Florida. This type of activity is happening all over the county, just apparently on a much larger scale with these companies because of the larger amount of foreclosures they handle.

You can avoid foreclosure and get the foreclosure assistance and foreclosure help you need from an expert in foreclosure solutions.

I offer a Free – No Obligation Consultation And Preliminary Audit of your mortgage situation as a first step to getting you help to stop foreclosure.

Call (888) 819-6554 or fill out the Stop Foreclosure Help email form,

Click Here —>>


Foreclosure Solutions – Whats Happening for 2010-08-06

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Foreclosure Solutions – Whats Happening for 2010-08-04

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Foreclosure Solutions – Whats Happening for 2010-08-03

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Foreclosure Solutions – Whats Happening for 2010-08-02

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Foreclosure Solutions – Whats Happening for 2010-07-31

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Don’t Qualify For A Loan Modification?

Unfortunately, last month more delinquent homeowners learned they didn’t qualify for President Obama’s foreclosure program.

New concerns regarding the U.S. housing market’s health and vibrancy have rightfully renewed interest in the success of President Obama’s foreclosure prevention programs. It has been wondered that an increase in foreclosures, combined with the current drop in housing sales, could once again send home prices plummeting.  Raphael Bostic, according to, stated that the marketplace is still fragile.

Unfortunately, 91,118 people in trial modifications were canceled in June, which brings the total to 520,814, only about ten to twelve percent (10% – 12%), a drop in the bucket, of the near 5 million homes in foreclosure since the program first started early 2009.

More than 60% of those who dropped out last month had been in trials for at least half a year.

Homeowners that don’t submit the proper paperwork, don’t meet the qualifications or make the necessary payments are kicked out. It is my understanding that from now on the loan Servicers before entering the homeowner in the program will collect needed documents and review the homeowners’ eligibility.

Once the homeowner trials are canceled, less than half of homeowners do get an alternate modification, and many times from their loan Servicer.

There are only 364,077 homeowners that remain in the trial phase, and approx 38,728 of that figure are homeowners that entered the program in June.

You don’t necessarily have to be one of the thousands that have lost their home to foreclosure.  I have helped many homeowners stay in their homes and avoid foreclosure, and I may be able to help you too.

I offer a Free – No Obligation Consultation And Preliminary Audit of your mortgage situation.

Call (888) 819-6554 or fill out the Stop Foreclosure Help email form,

Click Here —>>


Foreclosure Solutions – Whats Happening for 2010-07-25

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  • Foreclosure crisis continues By Darryl Bauer – News Anchor @ July 8, 2010 5:04 PM Permalink | Comments (0) SPRINGFIELD,.. #
  • Lawmakers Working To Extend Foreclosure Prevention Program By Nacarla Webb RALEIGH, NC – State lawmakers are working on.. #

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