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I thought so, too. But the OP is saying that BoA did not do an appraisal of this property prior to approving the mortgage.
They didn't even come. A lot of people asked how I got the loan, I didn't know. I was uneducated on home loans, I didn't think anything was out of the ordinary. Also, I was between jobs when approved. They used my unemployment insurance as income. That was another thing, people couldn't believe I got a loan without a job.
I blame myself. I just wish BofA was a little more receptive with helping me. I called them and really didn't get anywhere.
Lets try some reading comprehension - criminal charges for those who destroy their homes because they are being foreclosed on. Who said anything about criminal charges against all people going into foreclosure?
Careful there condescending in Connecticut. Its a forum - I can post my opinion based upon my interpretation of your well written post. Dont get yourself all worked up.
They didn't even come. A lot of people asked how I got the loan, I didn't know. I was uneducated on home loans, I didn't think anything was out of the ordinary. Also, I was between jobs when approved. They used my unemployment insurance as income. That was another thing, people couldn't believe I got a loan without a job.
I blame myself. I just wish BofA was a little more receptive with helping me. I called them and really didn't get anywhere.
OK Lots of good ideas given here. "BUT" the best and the safest thing to do is what many people thru my help have done > First you file a UCC-1 with the Secretary of state for the "VALUE" you have given to the property. Next you send out notices (Copies of the filing ) to the lender , and the Trustee's . Then you wait ( stop paying you MTG. )for the lender to start foreclosure process. Next, you get evicted from the property ( really not a problem )part of the nessessary process. Now the fun begins, when the banks sell the property the Escrow Co. finds your claim ( lien ) on the property they have to pay it ! Title Co. will "NOT" issue a Title ins . Policy ( Knowingly) and if they miss it and do issue the policy them you file a claim with them , and they must pay it. Before anyone says this can't work , I have done over 80 of these and the people have succeeded with payment on 22 to date and counting . with this process you leave the home in tact and get enough to maybe pay for another home with cash in some cases. DM me for more exact info. while this may sound too simple this is the basic steps , there are many notices and letter that are sent and filed , but the important thing is that unlike other plan's This one is working !
Last edited by Fighter 1; 12-19-2009 at 09:16 AM..
They didn't even come. A lot of people asked how I got the loan, I didn't know. I was uneducated on home loans, I didn't think anything was out of the ordinary. Also, I was between jobs when approved. They used my unemployment insurance as income. That was another thing, people couldn't believe I got a loan without a job.
I blame myself. I just wish BofA was a little more receptive with helping me. I called them and really didn't get anywhere.
One thing every one has to understand! (1) There is no benefit to them helping you or reducing the amount of the loan and to extend your payments from 25 to 40 yrs. is not helping you ,only fueling the flames (so to speak). (2) Why no help, for you? because the Government plan is to help the banks with their loss not yours, and for the bank to have "a loss" you have to be put out of the home and the bank has to resell it thereby showing "The loss" assinine maybe (yes)but true.
OK Lots of good ideas given here. "BUT" the best and the safest thing to do is what many people thru my help have done > First you file a UCC-1 with the Secretary of state for the "VALUE" you have given to the property...I have done over 80 of these and the people have succeeded with payment on 22 to date and counting...but the important thing is that unlike other plan's This one is working !
You might consider the legal consequences [in many states but perhaps not where this poster resides] attendant upon fraudulent lien filings. This same kind of game playing went on during the farm debt crisis in the mid-'80s and resulted in the creation of criminal and civil penalties for this activity. It might "work" initially for a few transactions involving the uninformed creditor. It won't last.
you might consider the legal consequences [in many states but perhaps not where this poster resides] attendant upon fraudulent lien filings. This same kind of game playing went on during the farm debt crisis in the mid-'80s and resulted in the creation of criminal and civil penalties for this activity. It might "work" initially for a few transactions involving the uninformed creditor. It won't last.
it people like you this country in trouble your future will come back and haut you when you apply for loan down the road walk away and dont do this it will just make problems for you in the future belive me your credit will suffer and getting job also be smart
Game playing ???? If you are informed enough you would know the difference between this process and the ones you are referring to . First read the requirements for " PERFECTING YOUR SECURITY INTEREST" as is required in the rules in Article 9 of the UCC rules . How can there be any fraud or illegal acts when you follow their rules .
Sure there was the Freedom Movement a few years ago where people filed Million dollar liens against judges and such . but again I ask that you read the requirement for Perfecting "YOUR INTEREST" in the home, (The value you have given to that home ) Then tell me if in fact it is still illegal and that you will be going to jail for using this process? I think not .
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