Saturday, August 15, 2009
Friday, August 14, 2009
IT'S NO SURPRISE WHY LENDERS AND MORTGAGE SERVICERS ARE DRAGGING THEIR FEET
WHY IT'S CERTAINLY NO SURPRISE
MORTGAGE LENDERS AND LOAN SERVICERS
DRAG THEIR FEET TO SPEED UP MODIFICATIONS.
BUT
YOU'D THINK THE REALITY OF THEIR SOON TO
BE EXPOSED PREDATORY TACTICS WOULD MOTIVATE
THEM TO AT LEAST WANT TO APPEAR COOPERATIVE.
SOON, VERY VERY SOON I HOPE AND PRAY THE NATION WILL REALIZE 93% OF EVERY SINGLE HOME HAS BEEN PAID FOR 50-100 TIMES OVER, THANKS TO THE BUNDLING OF MORTGAGE BACKED ASSETS, SECURITIZATION AND LIQUIDIZATION, TRANSFORMING THE SECURITY INSTRUMENTS INTO STOCK PAPERS TO BE SOLD TO INVESTORS IN THE FORM OF BONDS, CASH INSTRUMENTS.
IF YOUR LENDER CLAIMS "OWNERSHIP" OF THE ORIGINAL NOTE THAT SECURES AN INTEREST IN YOUR HOME, INSIST HE PRESENT YOU WITH THE ORIGINAL CERTIFIED, NOTARIZED DOCUMENT PROVING ORIGINAL SIGNATURES.
IF HE IS UNABLE TO PROVIDE YOU WITH AN ORIGINAL, DO NOT ACCEPT A LOST NOT AFFIDAVIT!!! CONTACT THE Securities and Exchange Commission AND ASK THEM TO HELP YOU FIND OUT IF YOUR PROPERTY WAS LIQUIDIZED, SOLD, AND BECAME PART OF A POOLING AND SERVICING AGREEMENT.
This usually happens THE SAME MONTH YOU PURCHASED YOUR HOME. However, because of the rise and fall of so many mortgage companies have them help you by looking up your address, or by name, mortgage lender, servicer, etc. They are extremely helpful.
THEY'D BETTER START MOVING OR THEY WILL
SUFFER THE BIGGER BRUISE AS A RESULT
OF STILL ANOTHER STUPID DECISION.
Impatience Grows Among Lawmakers
With Lenders, Mortgage Servicers
On Lack Of Progress On Loan Modifications
The Washington Independent reports:
A top Democrat on Monday warned the nation’s banks that, unless they get more aggressive in modifying mortgages to prevent foreclosure, Congress will renew previous efforts to empower families to keep their homes through bankruptcy. But Sen. Richard Durbin (Ill.), the upper-chamber’s second ranking Democrat, also gave the banks three months to comply with his ultimatum — a span over which roughly 1 million new homeowners are projected to enter foreclosure. [...] “I want to put the banks and mortgage servicers on notice today,” said Durbin, who sent letters Monday to each of the 34 banks that have already signed on to participate in the administration’s modification program.
The comments arrive just days after another powerful Democrat, House Financial Services Committee Chairman Barney Frank (D-Mass.), issued a similar threat to revisit cramdown. The statements are evidence of a growing impatience among some lawmakers with the banking industry’s efforts to stabilize the still-volatile housing market.
For more, see Durbin Gives Bailed Out Banks ‘Cramdown’ Ultimatum (Senate Democrat Threatens to Bring Back Bankruptcy Law Change).
posted by Home Equity Theft Reporter at 4:03 AM links to this post
Thursday, July 30, 2009
Lenders, Mortgage Servicers Continue To Force Borrowers To Waive Legal Rights As Part Of Loan Modification Process
The Washington Independent reports:
Even as the Obama administration presses the lending industry to get more mortgage loans modified, the practice of forcing borrowers to sign away their legal rights in order to get their loans reworked is a tactic that some servicers just won’t give up on. Waivers requiring borrowers to give up any legal claims related to their mortgages, even in cases where borrowers may be victims of predatory lending, are showing up sporadically in loan modification agreements under the Obama administration’s Making Home Affordable plan, consumer attorneys say. They were stunned to find the legal waivers still being used, despite more than a year of efforts – including calls from lawmakers – to get rid of them.
“It was shocking to see that people are still being asked to waive their legal rights,” said Bruce Dorpalen, national director of housing counseling for ACORN Housing Corp. “I mean, this should be abolished. It’s incredible that it’s still in there.” [...] The Treasury Department’s published guidelines for the $75 billion taxpayer funded program specifically prohibit the waivers. Mortgage giants Fannie Mae and Freddie Mac removed the waivers from their standard loan modification agreements earlier this year. But Diane Thompson, an attorney with the National Consumer Law Center, said she has seen legal waivers resurface in loan modification agreements by Aurora Loan Services, Ocwen Financial Corp., and other firms. She also is getting complaints about waivers in Bank of America agreements. “The waivers continue to be an issue,” Thompson said.(1)
For more, see Loan Servicers Work the Fine Print in Obama Foreclosure Plan (A Year After Calls for Reform, Borrowers Still Forced to Waive Legal Rights for Loan Modifications).
(1) It may be time for the Obama administration to stop throwing money at the lenders and servicers for loan modification programs and redirect the cash towards establishing and supporting foreclosure defense programs for financially strapped homeowners the way Florida Attorney General Bill McCollum recently did. See Attorney General Launches Multi-Million Dollar Grant Program for Foreclosure Defense Assistance (The Florida Bar Foundation will help administer $4 million in grants to legal services applicants).
The thought of having to deal with "producing the notes," and otherwise establishing proper legal standing to initiate foreclosures, as well as addressing allegations of fraud and violations of the applicable consumer protection laws is sure to get the attention of the mortgage industry, in my view. After all, why else are the loan servicers so intent on getting homeowners to waive their legal rights?
posted by Home Equity Theft Reporter at 9:53 AM links to this post
Wednesday, July 29, 2009
Admistration, Mortgage Servicers Meet; Agree To Increase Pace Of Loan Modifications
Bloomberg News reports:
Mortgage servicers meeting with Obama administration officials pledged to step up the pace of loan modifications, according to the U.S. Treasury. “With over 200,000 trial loan modifications already under way, we are on track to meet our goals,” Treasury Secretary Timothy Geithner said in a statement today. “Still, too many homeowners are at risk of foreclosure right now. Today’s meeting was an opportunity to identify ways to accelerate the program and bring relief faster.” The administration is setting a goal of beginning at least 500,000 trial modifications by Nov. 1, according to the statement.
For more, see Mortgage Servicers Pledge to Step Up Pace of Loan Modifications.
posted by Home Equity Theft Reporter at 4:09 AM links to this post
Monday, July 27, 2009
Mortgage Servicers To Explain Themselves To Administration Officials Regarding Failure To Keep People In Their Homes
In Washington, D.C., ABC News reports:
Mortgage servicers accused of not doing nearly enough to stem the nation's foreclosure crisis will sit down with the Obama administration tomorrow to tell their side of the story.(1) The meeting, the results of which are not expected to be made public until early next month, comes amid escalating criticism that both mortgage servicers and the government are ill-equipped to carry out Obama administration programs designed to help keep people in their homes. [...] The National Consumer Law Center, which presented testimony to the Senate earlier this month, has identified dozens of ways in which some mortgage servicers have failed to follow guidelines set by the Home Affordable Modification Program (HAMP), a five-month-old Obama administration program that pays servicers at least $1,000 for each loan modification.
Reportedly, Sen. Chris Dodd, D-Conn., has asked the administration to investigate alleged abuses of the program by mortgage servicers, which include:
Charging advance fees for loan modifications,
Telling homeowners they must be in default before becoming eligible for loan modifications,
Starting foreclosure proceedings even while a homeowner is under consideration for a loan modification.
For more, see Mortgage Companies to Meet With White House (Meeting Comes Amid Mounting Criticism of Obama Housing Programs).
(1) The mortgage servicers are responding to this recently extended invitation from Treasury Secretary Timothy F. Geithner and HUD Secretary Shaun Donovan to get together for a "friendly chat."
posted by Home Equity Theft Reporter at 7:51 AM links to this post
Wednesday, July 29, 2009
Frank Threatens To "Cramdown" Lenders, Mortgage Servicers For Foot-Dragging On Loan Modifications
The Associated Press reports:
A senior House Democrat threatened banks Wednesday that if they don't volunteer to save more homeowners from foreclosure, Congress will make them. In a sternly worded statement, Rep. Barney Frank said Congress will revive legislation that would let bankruptcy judges write down a person's monthly mortgage payment if the number of loan modifications remain low. Frank, chairman of the House Financial Services Committee, also said his committee won't consider legislation to help banks lend unless there is a "significant increase" in mortgage modifications. Frank's statement was aimed at adding momentum to a deal struck Tuesday between Treasury Secretary Timothy Geithner and more than two dozen mortgage companies. The two sides agreed to set the goal of adjusting 500,000 loans by Nov. 1.
***
"People in the servicing industry and in the broader financial industry must understand that if this last effort to produce significant modifications fails, the argument for reviving the bankruptcy option will be extremely strong, and I think there is a substantial chance that the outcome will be different," Frank said.
For more, see Frank threatens banks to stop foreclosures.
posted by Home Equity Theft Reporter at 2:49 PM links to this post
Thursday, July 09, 2009
Schwarzenegger Squeezed By Lenders, Servicers To Demand Rule Prohibiting California Attorneys From Accepting Retainers For Loan Mod Negotiations???
A press release issued by three California consumer advocates(1) announces:
The lending industry and loan servicing lobbyists have successfully pressured Governor Schwarzenegger to demand that language be included in SB 94 that would prohibit attorneys from accepting retainers for loan modification negotiations with their loan servicers.(2) The language, if adopted, will prevent homeowners from seeking legal representation to save their home from foreclosure.
For the rest of the press release, see Lending Industry Attacks California Homeowner's Rights to Legal Representation (California Governor Arnold Schwarzenegger told the legislature over the weekend that he would not sign AB 94, a law that would protect homeowners from mortgage modification companies, unless they included a clause that would prohibit attorneys from accepting retainers for performing legal services to prevent foreclosures).
(1) Martin Andelman, of mandelmanmatters on ml-implode.com; Alan Jablonski, a Long Beach, CA based consumer rights attorney, J. Arthur Roberts, a bankruptcy attorney located in Newport Beach, CA.
(2) Reportedly, the language proposed is as follows, according to Martin Andelman:
"5) Prohibits persons including attorneys, until January 1, 2013, who negotiates, attempts to negotiate, arranges, attempts to arrange, or otherwise offers to perform a mortgage loan modification or other compensation paid by the borrower to do any of the following:a) Claim, demand, charge, collect, or receive any compensation until after the licensee has fully performed each and every service the licensee contracted to perform or represented that he/she would perform."
posted by Home Equity Theft Reporter at 4:06 AM links to this post
MORTGAGE LENDERS AND LOAN SERVICERS
DRAG THEIR FEET TO SPEED UP MODIFICATIONS.
BUT
YOU'D THINK THE REALITY OF THEIR SOON TO
BE EXPOSED PREDATORY TACTICS WOULD MOTIVATE
THEM TO AT LEAST WANT TO APPEAR COOPERATIVE.
SOON, VERY VERY SOON I HOPE AND PRAY THE NATION WILL REALIZE 93% OF EVERY SINGLE HOME HAS BEEN PAID FOR 50-100 TIMES OVER, THANKS TO THE BUNDLING OF MORTGAGE BACKED ASSETS, SECURITIZATION AND LIQUIDIZATION, TRANSFORMING THE SECURITY INSTRUMENTS INTO STOCK PAPERS TO BE SOLD TO INVESTORS IN THE FORM OF BONDS, CASH INSTRUMENTS.
IF YOUR LENDER CLAIMS "OWNERSHIP" OF THE ORIGINAL NOTE THAT SECURES AN INTEREST IN YOUR HOME, INSIST HE PRESENT YOU WITH THE ORIGINAL CERTIFIED, NOTARIZED DOCUMENT PROVING ORIGINAL SIGNATURES.
IF HE IS UNABLE TO PROVIDE YOU WITH AN ORIGINAL, DO NOT ACCEPT A LOST NOT AFFIDAVIT!!! CONTACT THE Securities and Exchange Commission AND ASK THEM TO HELP YOU FIND OUT IF YOUR PROPERTY WAS LIQUIDIZED, SOLD, AND BECAME PART OF A POOLING AND SERVICING AGREEMENT.
This usually happens THE SAME MONTH YOU PURCHASED YOUR HOME. However, because of the rise and fall of so many mortgage companies have them help you by looking up your address, or by name, mortgage lender, servicer, etc. They are extremely helpful.
THEY'D BETTER START MOVING OR THEY WILL
SUFFER THE BIGGER BRUISE AS A RESULT
OF STILL ANOTHER STUPID DECISION.
Impatience Grows Among Lawmakers
With Lenders, Mortgage Servicers
On Lack Of Progress On Loan Modifications
The Washington Independent reports:
A top Democrat on Monday warned the nation’s banks that, unless they get more aggressive in modifying mortgages to prevent foreclosure, Congress will renew previous efforts to empower families to keep their homes through bankruptcy. But Sen. Richard Durbin (Ill.), the upper-chamber’s second ranking Democrat, also gave the banks three months to comply with his ultimatum — a span over which roughly 1 million new homeowners are projected to enter foreclosure. [...] “I want to put the banks and mortgage servicers on notice today,” said Durbin, who sent letters Monday to each of the 34 banks that have already signed on to participate in the administration’s modification program.
The comments arrive just days after another powerful Democrat, House Financial Services Committee Chairman Barney Frank (D-Mass.), issued a similar threat to revisit cramdown. The statements are evidence of a growing impatience among some lawmakers with the banking industry’s efforts to stabilize the still-volatile housing market.
For more, see Durbin Gives Bailed Out Banks ‘Cramdown’ Ultimatum (Senate Democrat Threatens to Bring Back Bankruptcy Law Change).
posted by Home Equity Theft Reporter at 4:03 AM links to this post
Thursday, July 30, 2009
Lenders, Mortgage Servicers Continue To Force Borrowers To Waive Legal Rights As Part Of Loan Modification Process
The Washington Independent reports:
Even as the Obama administration presses the lending industry to get more mortgage loans modified, the practice of forcing borrowers to sign away their legal rights in order to get their loans reworked is a tactic that some servicers just won’t give up on. Waivers requiring borrowers to give up any legal claims related to their mortgages, even in cases where borrowers may be victims of predatory lending, are showing up sporadically in loan modification agreements under the Obama administration’s Making Home Affordable plan, consumer attorneys say. They were stunned to find the legal waivers still being used, despite more than a year of efforts – including calls from lawmakers – to get rid of them.
“It was shocking to see that people are still being asked to waive their legal rights,” said Bruce Dorpalen, national director of housing counseling for ACORN Housing Corp. “I mean, this should be abolished. It’s incredible that it’s still in there.” [...] The Treasury Department’s published guidelines for the $75 billion taxpayer funded program specifically prohibit the waivers. Mortgage giants Fannie Mae and Freddie Mac removed the waivers from their standard loan modification agreements earlier this year. But Diane Thompson, an attorney with the National Consumer Law Center, said she has seen legal waivers resurface in loan modification agreements by Aurora Loan Services, Ocwen Financial Corp., and other firms. She also is getting complaints about waivers in Bank of America agreements. “The waivers continue to be an issue,” Thompson said.(1)
For more, see Loan Servicers Work the Fine Print in Obama Foreclosure Plan (A Year After Calls for Reform, Borrowers Still Forced to Waive Legal Rights for Loan Modifications).
(1) It may be time for the Obama administration to stop throwing money at the lenders and servicers for loan modification programs and redirect the cash towards establishing and supporting foreclosure defense programs for financially strapped homeowners the way Florida Attorney General Bill McCollum recently did. See Attorney General Launches Multi-Million Dollar Grant Program for Foreclosure Defense Assistance (The Florida Bar Foundation will help administer $4 million in grants to legal services applicants).
The thought of having to deal with "producing the notes," and otherwise establishing proper legal standing to initiate foreclosures, as well as addressing allegations of fraud and violations of the applicable consumer protection laws is sure to get the attention of the mortgage industry, in my view. After all, why else are the loan servicers so intent on getting homeowners to waive their legal rights?
posted by Home Equity Theft Reporter at 9:53 AM links to this post
Wednesday, July 29, 2009
Admistration, Mortgage Servicers Meet; Agree To Increase Pace Of Loan Modifications
Bloomberg News reports:
Mortgage servicers meeting with Obama administration officials pledged to step up the pace of loan modifications, according to the U.S. Treasury. “With over 200,000 trial loan modifications already under way, we are on track to meet our goals,” Treasury Secretary Timothy Geithner said in a statement today. “Still, too many homeowners are at risk of foreclosure right now. Today’s meeting was an opportunity to identify ways to accelerate the program and bring relief faster.” The administration is setting a goal of beginning at least 500,000 trial modifications by Nov. 1, according to the statement.
For more, see Mortgage Servicers Pledge to Step Up Pace of Loan Modifications.
posted by Home Equity Theft Reporter at 4:09 AM links to this post
Monday, July 27, 2009
Mortgage Servicers To Explain Themselves To Administration Officials Regarding Failure To Keep People In Their Homes
In Washington, D.C., ABC News reports:
Mortgage servicers accused of not doing nearly enough to stem the nation's foreclosure crisis will sit down with the Obama administration tomorrow to tell their side of the story.(1) The meeting, the results of which are not expected to be made public until early next month, comes amid escalating criticism that both mortgage servicers and the government are ill-equipped to carry out Obama administration programs designed to help keep people in their homes. [...] The National Consumer Law Center, which presented testimony to the Senate earlier this month, has identified dozens of ways in which some mortgage servicers have failed to follow guidelines set by the Home Affordable Modification Program (HAMP), a five-month-old Obama administration program that pays servicers at least $1,000 for each loan modification.
Reportedly, Sen. Chris Dodd, D-Conn., has asked the administration to investigate alleged abuses of the program by mortgage servicers, which include:
Charging advance fees for loan modifications,
Telling homeowners they must be in default before becoming eligible for loan modifications,
Starting foreclosure proceedings even while a homeowner is under consideration for a loan modification.
For more, see Mortgage Companies to Meet With White House (Meeting Comes Amid Mounting Criticism of Obama Housing Programs).
(1) The mortgage servicers are responding to this recently extended invitation from Treasury Secretary Timothy F. Geithner and HUD Secretary Shaun Donovan to get together for a "friendly chat."
posted by Home Equity Theft Reporter at 7:51 AM links to this post
Wednesday, July 29, 2009
Frank Threatens To "Cramdown" Lenders, Mortgage Servicers For Foot-Dragging On Loan Modifications
The Associated Press reports:
A senior House Democrat threatened banks Wednesday that if they don't volunteer to save more homeowners from foreclosure, Congress will make them. In a sternly worded statement, Rep. Barney Frank said Congress will revive legislation that would let bankruptcy judges write down a person's monthly mortgage payment if the number of loan modifications remain low. Frank, chairman of the House Financial Services Committee, also said his committee won't consider legislation to help banks lend unless there is a "significant increase" in mortgage modifications. Frank's statement was aimed at adding momentum to a deal struck Tuesday between Treasury Secretary Timothy Geithner and more than two dozen mortgage companies. The two sides agreed to set the goal of adjusting 500,000 loans by Nov. 1.
***
"People in the servicing industry and in the broader financial industry must understand that if this last effort to produce significant modifications fails, the argument for reviving the bankruptcy option will be extremely strong, and I think there is a substantial chance that the outcome will be different," Frank said.
For more, see Frank threatens banks to stop foreclosures.
posted by Home Equity Theft Reporter at 2:49 PM links to this post
Thursday, July 09, 2009
Schwarzenegger Squeezed By Lenders, Servicers To Demand Rule Prohibiting California Attorneys From Accepting Retainers For Loan Mod Negotiations???
A press release issued by three California consumer advocates(1) announces:
The lending industry and loan servicing lobbyists have successfully pressured Governor Schwarzenegger to demand that language be included in SB 94 that would prohibit attorneys from accepting retainers for loan modification negotiations with their loan servicers.(2) The language, if adopted, will prevent homeowners from seeking legal representation to save their home from foreclosure.
For the rest of the press release, see Lending Industry Attacks California Homeowner's Rights to Legal Representation (California Governor Arnold Schwarzenegger told the legislature over the weekend that he would not sign AB 94, a law that would protect homeowners from mortgage modification companies, unless they included a clause that would prohibit attorneys from accepting retainers for performing legal services to prevent foreclosures).
(1) Martin Andelman, of mandelmanmatters on ml-implode.com; Alan Jablonski, a Long Beach, CA based consumer rights attorney, J. Arthur Roberts, a bankruptcy attorney located in Newport Beach, CA.
(2) Reportedly, the language proposed is as follows, according to Martin Andelman:
"5) Prohibits persons including attorneys, until January 1, 2013, who negotiates, attempts to negotiate, arranges, attempts to arrange, or otherwise offers to perform a mortgage loan modification or other compensation paid by the borrower to do any of the following:a) Claim, demand, charge, collect, or receive any compensation until after the licensee has fully performed each and every service the licensee contracted to perform or represented that he/she would perform."
posted by Home Equity Theft Reporter at 4:06 AM links to this post
Thursday, August 6, 2009
The Home Equity Theft Reporter: Kansas AG Files Five Lawuits Against Outfits Allegedly Running Loan Modification & "Foreclosure Redemption Rights" Sca
The Home Equity Theft Reporter: Kansas AG Files Five Lawsuits Against Outfits Allegedly Running Loan Modification & "Foreclosure Redemption Rights" Scams
Well, they say the wheels of justice turn slowly, but I thank Steve Six his aggressive pursuit against Apple Assets LLC and Rush Properties. I lost over $100,000 in equity in a home I had owned for over 18 years with a perfect record prior to a lender error which snowballed.
I've also published my story about my experience with Apple Assets, and Wells Fargo Home Mortgage who, if not for their original error and their ridiculous 8 month ballet perfectly executed to keep me hanging on long enough for them to steal my home. They began to service my mortgage in 7-2004 when Waterfield Mortgage stopped originating mortgage loans.
I lost a lot more than money. I lost myself. Beware of these predatory lenders. They are predatory in every way.
God Bless You Steve Six!!
Tuesday, August 4, 2009
Invitation to connect on LinkedIn
| I'd like to add you to my professional network on LinkedIn. Learn more: © 2009, LinkedIn Corporation Saturday, July 25, 2009YouTube - Neil Garfield's Foreclosure Defense Seminar
YouTube - Neil Garfield's Foreclosure Defense Seminar: "Added
4:45Mortgage Servicing Fraud 2,161 views BunglbeezFeatured Video Added 4:2132 Ways To Quickly Stop Foreclosure 5,530 views HomeownersUnitedAdded 5:30Mortgage Audits: Get the hammer over your lende... 874 views VoidMyMortgageAdded 5:04Learn How I Beat Foreclosure! 795 views onlinenewbeAdded 4:13You Don't Own the Loan 1,711 views ALR6002Added 1:10Foreclosure Lawyer - StopForeclosureLawyer.com 930 views foreclosurelawyerAdded 0:27FORECLOSURE DEFENSE 273 views SouthFloridaLegal" Sunday, July 19, 2009FINDLAW: Homestead Exemptions and Forms
http://www.uslegalforms.com/findlaw/realestate/homestead/
FINDLAW Provided by U.S. Legal Forms, Inc. Customer Service (866) 529 8753 Forms Home » Form Categories » Homestead Exemptions and Forms Homestead Exemptions and Forms What are homestead exemption laws? Homestead laws were generally designed to protect the home from creditors, provides the right of occupancy given to a surviving spouse, minor children, and unmarried children of a deceased owner and also afford reduced property tax treatment. When people use the term "homestead exemption" they may be referring to the tax exemption or reduction, or the exemption from debts or execution for the payment of debts. This page only discusses the exemption from debts aspect. Don't be confused. The exemption does not mean that you cannot lose your home to creditors or that a lien cannot be placed on the home. If you borrow money on your home like most people do, the mortgage holder can foreclose and the exemption has no effect. If a unsecured (and most lenders are not registering/attaching/securing/perfecting mortgage loans properly and so the loans remain unsecured. ALL LENDERS WILL AUTOMATICALLY CLAIM IN LEGAL DOCUMENTS THAT THEIR LEIN IS SUPERIOR AND A PRIORITY LIEN OVER ANY OTHERS but that's just lawyer jargon and you would be wise to do your own research in regards to what the register of deeds in your county shows as the "chain of title" on your property. Now, when any unsecured creditor sues you and obtains a judgment, the creditor can enroll the judgment as a lien on your property. However, to the extent that you have a homestead exemption, the creditor cannot execute on the homestead and take the home. If you live in a nonjudicial foreclosure state, if you receive notice of a scheduled sale, you simply notify the trustee/attorney that you've declared your real property as your homestead. I've listed the statutes for each state and the current monetary and land limits for each state below. Specific homestead laws vary from State to State. In Texas, for example, a homestead is not protected from debts owed to the federal government. The homestead exemption may be used without filing a recorded claim in some States, while in others, a designation of homestead may be required. On the other hand, in virtually every State, in order to receive a homestead tax exemption the property must be designated as such. In community property States, generally, either separate or community property may constitute a homestead. Likewise, in some States, a homestead owner's spouse must join in any transfer or encumbrance of a homestead. In almost all States, a surviving spouse is entitled to the sole occupancy of a homestead for life, even though the property may be owned by someone else, such as were the property is titled in the husband's name, he dies and leaves the property to his children. Be sure to check the laws of your State. Homestead exemption forms are usually available from the tax assessor in your county. If not, the tax assessor can provide you with the proper location. State Laws These laws are for your information only. You should check the state codes for the most current version. All amounts are stated in general terms as specific variations may apply. · Alabama - Up to $5,000 in value, or up to 160 acres in area. - Code of Alabama, § 6-10-2 · Alaska - Up to $64,800, no area limitation. - Alaska Statutes, § 09.39.010 · Arizona - Up to $100,000, no area limitation Arizona Revised Statutes, § 33-1101 · Arkansas - Up to $2,500 in value, or at least ¼ acre for city homesteads, 80 acres for rural homesteads Arkansas Code, §§ 16- 66- 210 and 218; Arkansas Constitution Article 9 · California - Up to $50,000 in value. California Code Annotated, §704.730 · Colorado - Up to $45,000 in value, no area limitation Colorado Revised Statutes Annotated, §38-41-201 · Connecticut - Connecticut General Statutes Annotated, § 52- 352b · Delaware - None - provided Delaware Code Annotated, §4901- 3 · District of Columbia - D. C. provides an exemption equal to owner's aggregate interest in real property (No monetary or area limitations) District of Columbia Code § 15- 501. DC does not call this a homestead exemption. · Florida - Exemption equal to value of property as assessed for tax purposes (No monetary limitations) - area limitations of ½ acre urban land or 160 acres rural land Florida Constitution, Article 10 § 4 · Georgia - Up to $5,000 in value, no area limitation. Code of Georgia, Annotated, § 44- 13-1 and 44- 13- 100 · Hawaii - Up to $20,000, but the head of a family and persons 65 years of age or older are allowed up to $30,000, no area limitation Hawaii Revised Statutes, §§ 651- 91, 92 · Idaho - Up to $50,000 in value, no area limitation Idaho Code § 55- 1003 · Illinois - Up to $7,500 in value, no area limitation. Where multiple owners, can be increased to $15,000 Illinois Compiled Statutes, Annotated, § 734 5/ 12- 901 · Indiana - Up to $7,500 for residence, up to $4,000 for additional property, no area limitation. Co-owner, if also a joint debtor, may claim additional $7,500. Annotated Indiana Code, § 34- 55- 10-2 · Iowa - No monetary limitation, but a minimum value of $500 - area limitations of ½ acre urban land or 40 acres rural land Iowa Code Annotated, §§ 561.2 and 561.16 · Kansas - No monetary limitation - area limitations of 1 acre urban land or 160 acres rural land Kansas Constitution, Article 15 § 9 and Kansas Statutes, Annotated, § 60-2301 · Kentucky - Up to $5,000 in value, no area limitation Kentucky Revised Statutes, § 427.060 · Louisiana - Up to $25,000, but may include entirety of property in cases of catastrophic or terminal illness or injury. Area limitations of 5 acres urban land or 200 acres rural land Louisiana Statutes Annotated, § 20:1 · Maine - Up to $25,000 in value, but may be up to $60,000 under certain circumstances, no area limitation Main Revised Statutes, Annotated, §4422 · Maryland - Up to $3,000, but in Title XI bankruptcy proceedings, up to $2,500, no area limitation Annotated Code of Maryland, § 11-504 · Massachusetts - Up to $300,000 in value, no area limitation Annotated Laws of Massachusetts, § 188- 1 · Michigan - Up to $3,500 in value - area limitations of 1 acres urban land or 40 acres rural land Michigan Compiled Laws, § 600.6023 · Minnesota - Up to $200,000 in value, but up to $500,000 if used primarily for agricultural purposes- area limitations of ½ acre urban land or 160 acres rural land Minnesota Statutes, Annotated, §510.02 · Mississippi - Up to $75,000 in value - area limitation of 160 acres Annotated Mississippi Code, § 85- 3-21 · Missouri - Up to $8,000 in value, no area limitation Annotated Missouri Statutes, § 513.475 · Montana - Up to $100,000 in value, no area limitation Montana Code, Annotated, §§ 70- 32-101, 70- 32- 104 and 70- 32- 201 · Nebraska - Up to $12,500 in value - area limitation of 2 lots, urban land or 160 acres rural land Revised Statutes of Nebraska, § 40-101 · Nevada - Up to $125,000 in equity, no area limitation Nevada Revised Statutes, § 115- 010 · New Hampshire - Up to $50,000 in value, no area limitation New Hampshire Revised Statutes, Annotated, § 480:1 · New Jersey - No homestead exemption is provided, but an exemption for personal property of up to $1,000 is allowed New Jersey Statutes, Annotated, § 2A: 17- 1 and 2A: 17-17 · New Mexico - Up to $30,000 in value, no area limitation New Mexico Statutes, Annotated, § 2-10-9 · New York - Up to $10,000 above liens and encumbrances in value, no area limitation Consolidated Laws of New York, Annotated, CPLR § 5206 · North Carolina - Up to $10,000 in value, no area limitation General Statutes of North Carolina, Annotated, §1C- 1601 and North Carolina Constitution, Article X · North Dakota - Up to $80,000 in value, no area limitation North Dakota Century Code, Annotated, § 47- 18- 01 · Ohio - Up to $5,000 in value, no area limitation Ohio Revised Code, § 2329.66 · Oklahoma - Unlimited in value - area limitations of 1 acre urban land or 160 acres rural land. However, where using more than 25% of property for business purpose, the value drops to $5,000. Oklahoma Statutes, Annoted, §§1 and 2 · Oregon - Up to $25,000 in value - area limitations of one city block if within a city or 160 acres rural land Oregon Revised Statutes, § 23.240 · Pennsylvania - No homestead exemption provided, but a general monetary exemption of $300 exists. Pennsylvania Consolidated Statutes, Annotated, §§ 8121, et. Seq. · Rhode Island - Up to $150,000 in value, no area limitation General Laws of Rhode Island, § 9- 26- 4.1 · South Carolina - Although no homestead exemption is provided, an exemption for personal and real property of up to $10,000 in value may include property claimed as a residence Code of Laws of South Carolina, § 15- 41-30 · South Dakota - No monetary limitation - area limitation of one dwelling house and contiguous lots used in good faith South Dakota Codified Laws, §§ 43-31-1 and 43-31-4 · Tennessee - Up to $5,000, but may be up to $7,500 if claimed by two persons as a homestead, no area limitation Tennessee Code, Annotated, § 26-2-301 · Texas - No monetary limitation - area limitation of 10 acres urban land or 100 acres of rural land if claimed by a single person. A family may claim 200 acres of rural land Texas Property Code, Annotated, §§ 41.001 and 41.002 and Texas Constitution, Article 16 § 51 · Utah - Up to $20,000 in value, but only $5,000 in value if property is not primary residence - area limitation of 1 acre Utah Code, §78-23-3 · Vermont - Up to $75,000 in value, no area limitation Vermont Statutes Annotated, Title 27, § 101 · Virginia - Up to $5,000, but may be increased by $500 for each dependant residing on property, no area limitation Code of Virginia, §34-4 · Washington - Generally, up to $40,000 in value, but may be unlimited if used against income taxes on retirement plan benefits, no area limitation Revised Code of Washington, Annotated, § 6.13.030 · West Virginia - Up to $5,000 in value, but an additional $7,500 may be available in cases of "catastrophic illness or injury," no area limitation West Virginia Code, Annotated, §§ 38-9-1 and 38-10-4 · Wisconsin - Up to $40,000 in value. No area limitation. - Wisconsin Statutes, Annotated, § 815.20 · Wyoming - Up to $10,000 in value. Each co-owner is entitled to a homestead exemption. Wyoming Statutes § 1-20-101 Wednesday, July 15, 2009PROMISES ARE ARE LIKE PROMISSORY NOTES! SHOW ME THE NOTE:
WELLS JUST KEEPS TAKING YOUR MONEY
AND THE GOVERNMENTS BAILOUTS AND THE SEC'S GOODWILL DEDUCTIONS LURING INVESTORS PURPORTING POOLS OF PROMISSORY NOTES (OFTEN ALREADY IN DEFAULT) ALWAYS UNSECURED DUE TO LENDERS DEFAULT UPON SALE OF THE SECURITY INSTRUMENT THE ONLY ATTACHMENT THE LENDER HELD TO ENFORCE WHAT IS NOW CONSIDERED A WORTHLESS MORTGATE. A DEBT. NOT AN ASSET. SO, WHEN ANYONE SAYS "PROMISSORY NOTE" MAKE ABSOLUTELY SURE YOU SAY "SHOW ME THE MONEY!" Susan Garrett, PCS ODYSSEY HEALTHCARE, INC. 2630 West Freeway, Suite 102Fort Worth, Tx. 76102817-338-1512 phone817-350-3724 cell817-339-2577 fax Susan, First and foremost, my services are free. No contingencies. I'm fueled by the sheer audacity in the predatory tactics Wells Fargo continues to use against homeowners even though they've been convicted and fined for the same tactics over and over. However, the odds are in their favor. Only 19% of homeowners facing foreclosure fight for their rights. Most people don't have the time or financial resources to fight. An uncontroverted fact to these convuluted minions. Please go to the site below. Thank you for the honor you've shown me and other victims of Wells Fargo by sharing your story. Every single story, every single VICTIM who steps up and gives voice to the lies and games Wells Fargo plays in their continued effort to steal homes, helps others. AND, I firmly believe VICTIMS will become VICTORIOUS soon, very soon. I have no doubt Wells Fargo & Co. will be required to mitigate for the damages -- actual, punitive, and emotional -- they have been relentlessly dishing out. http://wfhmcaught.blogspot.com/2009/05/wells-fargo-is-servicer-not-owner-of.html Your story hurts my heart and makes me sick to my stomach. Is your home located in Texas? If so, I currently have several victims in Texas on whose behalf I am pursuing restitution by securing a money judgment and placement in a BETTER home if your own home can not be returned to you. Every state addresses these issues differently, as I'm sure you've been told. And the Texas judicial system is certainly NOT Texan-Friendly. I've contacted Texas Attorney General, Greg Abbott in regards to several other cases where Wells Fargo broke Consumer Protective Statutes under RESPA, TILA, REGULATION Z, etc. I won't know for sure what penalties can immediately be charged against Wells Fargo until I read your original contract, but I'm certain if your contract is similar to others I've seen, Consumer Protective Statutes will have been violated on both the Federal and State Levels which will be a nice start to pursuing full mitigation. If you have no objection to my publishing the details of your story in hopes to help you and others secure reparation from Wells Fargo, please give me your approval by providing answers to the questions I will write in red below the sentence to which it refers. I will have more questions as we progress but lets start here: WRONGFUL FORECLOSURE SUIT Terry and Susan Garrett entered into a mortgage contract with Option One on 05-04-06. Terry Garrett laid off summer of 2007 and got behind on mortgage by 2months. Multiple conversations with Option One resulted in a final re-instatement if we sent in 5500.00 agreed upon 9-3-07 with 3000.00 down and 2500.00 2 weeks later. Payments were sent western union and Option one sends both payments back to us via western union stating we failed to send the 5500.00 and foreclosure had been started. 10-3-07 filed bankruptcy with Weldon Grishams office downtown Ft. Worth . Bankruptcy arrearage payments garnished from my pay check all house payments current. Letter dated 6-10-08 Option one has sold to Wilbur Ross of American Home Mortgage Services as of July 1, 2008 sent payments to AHMSI in Jacksonville Fla. Instead of Option one of Irvine , Ca. Started making all payments to AHMSI in Fla , July/Aug/Sept. payments. 9-28-08 receive letter from Wells Fargo stating foreclosure inspection has been done on property they are the trustees for Option One due to lack of payment house would be sold 10-7-08. Called bankruptcy attorney Weldon Grishams office they have received nothing stating Wells Fargo was owner of note and to not worry pay AHMSI as instructed that is where Tim Truman Chapter 13 trustee was making payments to. 10-7-08 Wells Fargo forecloses on Home 10-14-08 Wells Fargo sells home to other names listed on a trustee deed 10-21-08 I received letter from Wells Fargo’s attorneys’ to vacate, my attorney Weldon Grisham received letter from Wells Fargo’s attorney’s notice of default debtor has until 10-31-08 to cure the debt. 10-28-08 served by constable an eviction citation. 11-06-08 appeared at court to Judge Wayne Hayes presented case and won ruled in our favor due to bankruptcy and no proof of automatic stay lift and my proof of mortgage co. to be American home not Wells Fargo. 11-12-08 served by constable an eviction citation. 11-19-08 appeared to Judge Wayne Hayes JP Court ruled in our favor due to the proof of lift of stay was dated 7-25-08 but was merely a letter not a ruling from the bankruptcy court. 11-24-08 served by constable an eviction citation 12-05-08 appeared to JP Court – substitute judge Jane Choate in for Wayne Hayes, would not let me present case ruled in for plaintiffs as a default judgment due to husband not there only I was present. 12-08-08 Filed a surety appeal bond at the JP Court 12-09-08 approved by Judge Wayne Hayes. 12-10-08 Option one/Wells Fargo 's sent letter from Judge Jerry Buckner to respond within 8 days. No response by Attorney’s for Wells Fargo 12-19-08 Attorneys for Wells Fargo file affidavit in support of eviction Terry , Susan Garrett request default prove- up hearing 1-15-09 1-11-09 Court reset for 1-20-09 for additional findings by the Garrett’s 01-13-09 Terry Susan Garrett file affidavit in support of wrongful foreclosure. 1-20-09 Judge sets a Status Herring. Terry and Susan Garrett appear at court Wells Fargo attorneys fail to show waited over 30 minutes for someone to show. Judge calls attorneys they scramble to get a local attorney to show up so contempt charges are not filed on them. Fill in local attorney requests for the records that he has not been hired by Hughes, Waters/Akansase, Wells Fargo, American Home Mortgage, or Option One and request it be documented as such. And that he has no knowledge of suit. Judge sets Final hearing for 3-10-09 with stiff warning to plantiffs Wells Fargo and party that they have done a lot of wrongful things to these people and they better show up on 3-10-09 01-23-09 Wells Fargo attorneys submit motion to dismiss affidavit in support of wrongful foreclosure 02-02-09 Wells Fargo attorneys submit oral hearing to plea to jurisdiction, judge Buckner denied wait until final hearing. 03-10-09 Susan and Terry Garrett submit memorandum in support of Defendants claims. 3-10-09 Summary judgment granted to Wells Fargo due to Judge Buckner had lack of jurisdiction over Wrongful Foreclosure and my stuff was not admissible in court. This was over a wrongful detainer case. 3-20-09 Today – Susan and Terry Garrett wish to submit an appeal, but not sure if it is even worth it. I have had 2 attorneys tell me I have a case, plus judge Buckner, but I need it on a contingency basis due to both attorneys wanting 5000.00 to take case up front. * 04-08-09 Sadly – we moved out of our dream home and join the world of renting with ruined credit. Susan Garrett, PCS ODYSSEY HEALTHCARE, INC. 2630 West Freeway, Suite 102Fort Worth, Tx. 76102817-338-1512 phone817-350-3724 cell817-339-2577 fax http://www.blogger.com/profile/07447695993101919220http://wfhmcaught.blogspot.com/2009/01/homeowners-be-informed-ask-for-what-you.htmlFrom: Susan Garret
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