Homecomings Nightmare

[Lilamy]

My husband lost his job last year and we fell behind on all our bills,however, we hired a counseling agency to negotiate on our behalf and they were partially successful as the lender asked us to pay a months mortgage as down payment inorder to modify our loan. In the meantime our home was removed from foreclosure whilst we were awaiting the loan modification package. Three months passed by and with periodic contact with the counseling agency we received another enquiry for the same information we had already submitted three months earlier. We gladly responded and we kept up our hope that all will be fine instead we received a foreclosure notice in the mail. We panicked initially not knowing what to do next then I discovered loansafe. We were left with no choice but to seek chapter 13 protection whilst we were trying to hire a new counseling agency to handle our negotiations. We found a good talker who convinced us to part company with our $2,000 for his fees. We had the banckruptcy dismissed without prejudice whilst negotiatons were ongoing we had hoped. However,we have just received another foreclosure notice for next week. I spoke with someone at homecomings and I was told that my loan was a fixed rate loan so they cannot do anything even though the rate is very high. I contated my title company and requested a copy of my note and upon perusing I realized that it was an adjustable rate with a start rate of 9.49 % and it is due for adjustment in october 2008.
My husband was the primary earner and as I mentioned earler he has been unemployed for a while but he has now secured a new job that would pay him well and that would make our modified loan more affordable.
However,in the meantime we are contemplating pursuing this matter further by seeking protection once again and immediately file a suit through a reputable attorney to help remedy the violations in our loan.I am a devotee to this resouceful website and thank you very much for giving the average joe a shot at the big guys. For the longest time they've been calling the shots but it seems that the pendulaum is swinging our way thanks to you.

[Moe Bedard]

Hi Lilamy,


Welcome to the forum and thank you for joining..............

Before paying an attorney to file another possible BK while you look at the documents, instead why not speak to our attorney about doing a forensic doc review to find violations to help with the modification and see what they can do with your loan........that might help you out more without having to file again.........

Law Offices of Gregory A. Paiva & Associates
1325 Corona Pointe Court
Corona, California 92879
Telephone (888) 432-6634
Facsimile (951) 860-4763



Please keep us posted on your progress............

[Lilamy]

***,
Thanks very much for your timely advice. I would definetly make the call later on this morning.However, because of our financial contstraints presently,I would like to keep the bankcruptcy option open whilst I discuss with the law firm.

[Dan Bailey]

Hi Lilamy, good luck with your process! Following ***, Moe and Andrews advice n here has saved alot of folks !

[Lilamy]

Dan,
Is it too late to utilize the QWR ?

[Dan Bailey]

It's never too late to order one. I believe once ordered, they have 20 day to aknowledge that you ordered it, and 60 days to send it.

[Lilamy]

According to maryland law I am supposed to be notified 10 days out on a pending foreclosure by the lender's attorney by registered mail. I am yet to receive any notice and the sale is scheduled on 08/28/2008.How can I handle this situation?

[wchamilton]

Originally Posted by Lilamy

According to maryland law I am supposed to be notified 10 days out on a pending foreclosure by the lender's attorney by registered mail. I am yet to receive any notice and the sale is scheduled on 08/28/2008.How can I handle this situation?

Welcome to the forums, Lilamy. Someone will be along shortly to offer you some advice. In the meantime, hang in there... we've all been where you are and are here for you.

[Dan Bailey]

LilAmy, in your original thread you stated you received forclosure notification for 8/28...I think from the date you posted, that equaled 10 days?

HAve you contacted the attorney *** advised you of? They would be able to delay the forclosure process.

[Lilamy]

I only received letters of solicitations from attorneys and others interested in offering their services that's how I knew my home is facing a sale date,as there was no notification from the lender's attorney. However, I contacted the law firm *** recommended and I spoke with a fine gentleman who adviced me that the law firm would only accept a case three weeks out. But he was kind enough to promise a substitute law firm that can handle a rush. I am however, awaiting his email,but in the meantime ,I am just curious about any remedy that may be available to me as a result of this mishap.

[Dan Bailey]

Ok, I am glad Paiva attorneys are recommending someone to you. I would go with that advice....
I do know that, it is important that you go to the court forclosure hearing (if you are in a state that requires court for them to do the foreclosure) to explain to the judge that you have been trying to negotiate with them and find a solution. Also, the fact that you did not receive the required paperwork.

[Lilamy]

Thanks for your quick response.However,Maryland is not a state that requires the presence of the homeowner during the foreclosure suit hearing.I am stiil awaiting the information from Paiva Law firm,but at this point I am leaning towards filing for chapter 13 protection whilst I pursue the misleading aspects of my loan.As you in an earlier post I mentioned that I filed for protection before and I dismissed without prejudice. Now that I've discovered these discrepancies on my loan I think with the help of a law firm I can get Homecomings to relent.