The HAMPster Wheel Game

acesfull

LoanSafe Member
Hi Players
It appears my wheel playing days are quickly coming towards an end. The bank was awarded final judgment on 4/24.
My educated guess tells me that, I probably have until September?October, unless the Sheriff department is swamped with work.
I may have a few legal remedies to pursue however I need to ponder the pro's and con's.. It may just be time for me to move on.
This is not a farewell post, I shall return with more info either positive or negative, as well has hanging around LS to lend some help and opinions.. Hang tough Players!

Play hard, play loooooooooooong!

Best regards
Nj-78 Months
Acesfull
 

PatZZ

LoanSafe Member
Hi Players
It appears my wheel playing days are quickly coming towards an end. The bank was awarded final judgment on 4/24.
My educated guess tells me that, I probably have until September?October, unless the Sheriff department is swamped with work.
I may have a few legal remedies to pursue however I need to ponder the pro's and con's.. It may just be time for me to move on.
This is not a farewell post, I shall return with more info either positive or negative, as well has hanging around LS to lend some help and opinions.. Hang tough Players!

Play hard, play loooooooooooong!

Best regards
Nj-78 Months
Acesfull
Sorry to hear that Aces. Glad to hear you'll still be around the Loan Safe neighborhood.
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Hey Aces,

Sorry to hear that, but 80 months is a damn long run. Well played!

I'm confident I've got another 3 - 6 months left in my game, but beyond that it's TBD. I'm feeling less confident about the Statue of Limitations tactic. The bank will not walk away as long as there's a chance at a few bucks profit, so they'll keep some form of case open against me. I have a couple of cards left to play, then depending on their moves, it's either over, or I'll have more time. But in the end I think everyone can agree that even more than real estate, time is the most valuable asset.

Keep us posted on your end game, Aces.

Kind Regards,
Default_is_theirs
77 months.
 

acesfull

LoanSafe Member
Hey Aces,

Sorry to hear that, but 80 months is a damn long run. Well played!

I'm confident I've got another 3 - 6 months left in my game, but beyond that it's TBD. I'm feeling less confident about the Statue of Limitations tactic. The bank will not walk away as long as there's a chance at a few bucks profit, so they'll keep some form of case open against me. I have a couple of cards left to play, then depending on their moves, it's either over, or I'll have more time. But in the end I think everyone can agree that even more than real estate, time is the most valuable asset.

Keep us posted on your end game, Aces.

Kind Regards,
Default_is_theirs
77 months.
Hi Players
Hi Default
I cannot agree more " time is our most precious commodity".. In my humble opinion and from some other well knowledgeable folks here on LS, I trust, I shall have may be another 7-8 months, after that we shall wait and see.. There is always BK, to gain an additional 7/8 months along with cleaning up the credit score. Also the BK court, may hold the bank to a higher degree of proof positive that they are actually the rightful owners of the mortgage.. I should have another year here, if I use the BK option.
Default, great work on the 77 months and counting. You play a great game!.

Play hard, play loooooooooong!
Best regards
Nj-79 Months
Acesfull
 

PatZZ

LoanSafe Member
Hi Players
Hi Default
I cannot agree more " time is our most precious commodity".. In my humble opinion and from some other well knowledgeable folks here on LS, I trust, I shall have may be another 7-8 months, after that we shall wait and see.. There is always BK, to gain an additional 7/8 months along with cleaning up the credit score. Also the BK court, may hold the bank to a higher degree of proof positive that they are actually the rightful owners of the mortgage.. I should have another year here, if I use the BK option.
Default, great work on the 77 months and counting. You play a great game!.

Play hard, play loooooooooong!
Best regards
Nj-79 Months
Acesfull
Aces, I read in a BK case a while ago that the BK court will not disturb an opinion from another court after final judgment has been rendered. In other words, the BK court will not permit a do-over. That would have to be done in the appellate court.

It kinda makes sense. The BK court does not want to serve as the appellate court for state claims.

This had been a thought in the back of my mind - e.g., If things go poorly with the biased judge in the trial court, then file BK before the trial judge hands down final judgment.
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acesfull

LoanSafe Member
Aces, I read in a BK case a while ago that the BK court will not disturb an opinion from another court after final judgment has been rendered. In other words, the BK court will not permit a do-over. That would have to be done in the appellate court.

It kinda makes sense. The BK court does not want to serve as the appellate court for state claims.

This had been a thought in the back of my mind - e.g., If things go poorly with the biased judge in the trial court, then file BK before the trial judge hands down final judgment.
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Patzz
Thank you, I like your thinking on the subject.
Best regards
Nj-79 Months
Acesfull
 

PatZZ

LoanSafe Member
Patzz
Thank you, I like your thinking on the subject.
Best regards
Nj-79 Months
Acesfull
Aces, I couldn't think of the rule at the time. But it's the "Rooker-Feldman Doctrine."

"The Rooker-Feldman doctrine prevents federal courts from exercising jurisdiction over `cases brought by state-court losers complaining of injuries caused by state-court judgments rendered before the district court proceedings commenced and inviting district court review and rejection of those judgments.'"
As we know, there is a rule for most everything, and easy for us to lose if we don't know about it. Interesting how the definition refers to us as "LOSERS.'
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ok its been over 5 years and this hampster is tired lol. I'd really like to relocate to pursue other opportunities. If I leave, should I let the bank or their attorney know the place is vacant? I guess the alternative is to let them figure it out once the grass gets to three feet lol. About a month ago I received a tally of the total costs owed as per the court order so they next step is for the bank to motion for final foreclosure and then after I guess they would motion for the auction after that. If they know the house is vacant will it makes things go quicker? I really don't want to "change my address" until its all over and this is taking longer than I even imagined it would lol.
 

Po' Boy

LoanSafe Member
Running on fumes- last pmt was 3/2015- served Nov 2015- hired an attn and he bought me 1 1/2 years - Had court date on 6/9/17.. halfway there I get a call from his sec stating my attn negotiated a settlement and I didn't need to show up- I never once spoke to anybody at that law firm about a settlement- My home is due to go on auction 8/10/2017

My question is, and appreciate if anybody has any feedback- We are moving out of state on Nov 1- Is there anything I can do to buy another 2-3 months? I am an independent insurance broker and represent 30 different companies and really would rather try to not have a BK as most ins carriers will not appt agents with BK's- if they run periodical background checks on current agents and see my BK they may term me- and that'll do me more harm than good- We've looked at renting but most places here in Florida require 7 month leases- I just need 3 more months-

Can I file for a BK to stop the auction 8/1 and hopefully get another sale date then back out of my BK request once a new auction date is set? I don't think a judge would award me a BK based off my income- don't have any debt other than my mortgage- How does a BK work- do you file for one then are set a court date for a judge to hear your case, if so how long is the request for a BK to the actual BK court hearing?- and can I rescind my request in between?

If anybody knows how I can push the auction date out another 60 days I would appreciate any advice-

Thank you
 

PatZZ

LoanSafe Member
Running on fumes- last pmt was 3/2015- served Nov 2015- hired an attn and he bought me 1 1/2 years - Had court date on 6/9/17.. halfway there I get a call from his sec stating my attn negotiated a settlement and I didn't need to show up- I never once spoke to anybody at that law firm about a settlement- My home is due to go on auction 8/10/2017

My question is, and appreciate if anybody has any feedback- We are moving out of state on Nov 1- Is there anything I can do to buy another 2-3 months? I am an independent insurance broker and represent 30 different companies and really would rather try to not have a BK as most ins carriers will not appt agents with BK's- if they run periodical background checks on current agents and see my BK they may term me- and that'll do me more harm than good- We've looked at renting but most places here in Florida require 7 month leases- I just need 3 more months-

Can I file for a BK to stop the auction 8/1 and hopefully get another sale date then back out of my BK request once a new auction date is set? I don't think a judge would award me a BK based off my income- don't have any debt other than my mortgage- How does a BK work- do you file for one then are set a court date for a judge to hear your case, if so how long is the request for a BK to the actual BK court hearing?- and can I rescind my request in between?

If anybody knows how I can push the auction date out another 60 days I would appreciate any advice-

Thank you
Once you file a BK, the fact that you filed it stays on your record and credit report. It will not drop off because you withdraw the filing. I surmise part of the reason might be to avoid the ability of consumers to play the system as you propose. Insurance companies don't feel the same way about foreclosures and bad credit on your record??? Things have changed so much. There was a time when insurers never did this kind of checking - especially re-checking.

Don't know what state you are in, but many states give a homeowner opportunities to adjourn the sale merely on request. You might can also hold it off by motioning the court to stay the sheriff sale. You should try to get a free consultation with a foreclosure attorney to go over your options. Far too critical to rely on a forum.

All that being said, I am confused. If a settlement was reached, why is auction scheduled for 8/10? What exactly did the attorney do for you. The story seems incomplete.
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Sadly, this thread isn't very active anymore, so I'm not sure if the "HAMPster" strategy still works for retaining a home.

I fell behind on my mortgage about 6 months ago. About 2 months ago, I put in a borrower assistance form to Seterus. They eventually came back with a response that I was missing some income information. I really didn't intend to leave it off, but have been embarking on a new extremely busy career, and so I had no time to respond to them. They sent me a decline letter about 2 weeks ago.

I want to retain my home. Mortgage was modified just about a year ago, and I was told several times by the collection goons at Seterus that there was "no way" I could get another mod, or not before a year had passed.

I also have plans to get remaining hardest hit funds, but unfortunately, I am 2 years behind on filing my taxes which are needed for hardest hit. Again, I have very little time nowadays to do anything. I could probably pay my current mortgage payment, but since I'm in school for the next 14 months on a fixed income, there is no way I can clear the back balance of unpaid months.

To make matter worse, at this same time, my HOA has filed a lien and is going after me for past due assessments. I am trying to workout a payment arrangement with them. It's not a huge sum of money (about 3500), but about half of that is attorney fees, which I think is unreasonable.

Would it be a good idea to just resubmit another assistance form to Seterus to stall any foreclosure action? HAMPster strategy? On paper, there is equity in the home, so I'm always worried about the bank or HOA trying to do a fast foreclosure. Thanks for any help.
 

PatZZ

LoanSafe Member
Sadly, this thread isn't very active anymore, so I'm not sure if the "HAMPster" strategy still works for retaining a home.

I fell behind on my mortgage about 6 months ago. About 2 months ago, I put in a borrower assistance form to Seterus. They eventually came back with a response that I was missing some income information. I really didn't intend to leave it off, but have been embarking on a new extremely busy career, and so I had no time to respond to them. They sent me a decline letter about 2 weeks ago.

I want to retain my home. Mortgage was modified just about a year ago, and I was told several times by the collection goons at Seterus that there was "no way" I could get another mod, or not before a year had passed.

I also have plans to get remaining hardest hit funds, but unfortunately, I am 2 years behind on filing my taxes which are needed for hardest hit. Again, I have very little time nowadays to do anything. I could probably pay my current mortgage payment, but since I'm in school for the next 14 months on a fixed income, there is no way I can clear the back balance of unpaid months.

To make matter worse, at this same time, my HOA has filed a lien and is going after me for past due assessments. I am trying to workout a payment arrangement with them. It's not a huge sum of money (about 3500), but about half of that is attorney fees, which I think is unreasonable.

Would it be a good idea to just resubmit another assistance form to Seterus to stall any foreclosure action? HAMPster strategy? On paper, there is equity in the home, so I'm always worried about the bank or HOA trying to do a fast foreclosure. Thanks for any help.
Sorry to hear about your predicament, as we always are.

Remember, you won't get a bullet in the head for applying for a mod. In other words, what's the harm? Except, of course, revealing info you might not want to reveal. The real problem seems to be you have presented a boatload of issues as to why it won't be approved - a student being just one of them. Those of us who aim to "delay" have a plan in mind. I don't see your plan. Is there a defense to the foreclosure?

If you can't bring the loan current, then paying the current mortgage payment is moot. I would not give them one red dime at this point. Not smart.

If there is equity in the home, then sell it and move on. From experience, many of us can tell you that fighting against the system does take time which you state you don't have. That might be your biggest problem. Take the hit, sell the home, move on with your new career, and rent for a while until you get back on track again. I can't imagine being a busy student, focusing on career and simultaneously being worried about a foreclosure. FAR too much stress. I presume you don't have family in the house since you never say "we." Keeps matters less difficult.
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Sorry to hear about your predicament, as we always are.

Remember, you won't get a bullet in the head for applying for a mod. In other words, what's the harm? Except, of course, revealing info you might not want to reveal. The real problem seems to be you have presented a boatload of issues as to why it won't be approved - a student being just one of them. Those of us who aim to "delay" have a plan in mind. I don't see your plan. Is there a defense to the foreclosure?

If you can't bring the loan current, then paying the current mortgage payment is moot. I would not give them one red dime at this point. Not smart.

If there is equity in the home, then sell it and move on. From experience, many of us can tell you that fighting against the system does take time which you state you don't have. That might be your biggest problem. Take the hit, sell the home, move on with your new career, and rent for a while until you get back on track again. I can't imagine being a busy student, focusing on career and simultaneously being worried about a foreclosure. FAR too much stress. I presume you don't have family in the house since you never say "we." Keeps matters less difficult.
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Patz,

I'm not quite sure I understand your response. Perhaps I didn't include enough information in my post.

I do have an income at this time, but it's not very much. About 20K/year. Without going into all financial details, the problem right now isn't really paying the current mortgage payment.
That was the problem 6 months ago, which got me behind. The problem now is the growing back balance and looming foreclosure chances.

So, to answer your question about an "end game", I think I do have one. I'd like to either get HH or a loan mod to bring my loan current again, so I could resume making payments.

As far as selling or renting, that's exactly what I'm trying to avoid, as it would be catastrophic for me at this point. With my credit shot, I can rent basically nowhere. With my current workload, the process of selling the house, moving out, and moving back into an apartment would almost certainly destroy my career with all the time involved with that. Not sure why some say that like it's quick , easy , or even possible for many of us homeowners.

The way I understood the HAMPster wheel was that it's a game of sorts to delay the entire foreclosure action from happening. This could certainly help me, but I'm not sure how or if it works nowadays.

I did submit a second mod packet to seterus, and that followed with a flurry of letters back from them. One of them claims my loan has now been "sent to the attorneys for foreclosure", but they "still want to see if they can help me avoid foreclosure. I'm tempted to send them the additional doc, which is basically pay stub income detail, but I have to wonder if they will consider it enough income to re-modify my mortgage. The alternative is to do nothing? Wait for denial of mod, and file again? I'm not sure. This is what I'm trying to figure out. In the meantime, I am trying to finish up my old tax filings and then call the HUD office and see if I can resume pursuing hardest hit.
 

PatZZ

LoanSafe Member
Patz,

I'm not quite sure I understand your response. Perhaps I didn't include enough information in my post.

I do have an income at this time, but it's not very much. About 20K/year. Without going into all financial details, the problem right now isn't really paying the current mortgage payment.
That was the problem 6 months ago, which got me behind. The problem now is the growing back balance and looming foreclosure chances.

So, to answer your question about an "end game", I think I do have one. I'd like to either get HH or a loan mod to bring my loan current again, so I could resume making payments.

As far as selling or renting, that's exactly what I'm trying to avoid, as it would be catastrophic for me at this point. With my credit shot, I can rent basically nowhere. With my current workload, the process of selling the house, moving out, and moving back into an apartment would almost certainly destroy my career with all the time involved with that. Not sure why some say that like it's quick , easy , or even possible for many of us homeowners.

The way I understood the HAMPster wheel was that it's a game of sorts to delay the entire foreclosure action from happening. This could certainly help me, but I'm not sure how or if it works nowadays.

I did submit a second mod packet to seterus, and that followed with a flurry of letters back from them. One of them claims my loan has now been "sent to the attorneys for foreclosure", but they "still want to see if they can help me avoid foreclosure. I'm tempted to send them the additional doc, which is basically pay stub income detail, but I have to wonder if they will consider it enough income to re-modify my mortgage. The alternative is to do nothing? Wait for denial of mod, and file again? I'm not sure. This is what I'm trying to figure out. In the meantime, I am trying to finish up my old tax filings and then call the HUD office and see if I can resume pursuing hardest hit.

Sorry, we can only respond based on the info we read. Only you would know if the $20k will qualify you. We don't know your financial details. But I presume you must have a small payment. It's unfortunate you weren't able to work out a plan to repay the HOA before they filed a lien. Now, your servicer knows about the delinquency. So be cautious about setting a payment plan for the back dues. That payment will be added in to your monthly debt & could keep you from qualifying for the loan mod. Work with the association to keep that repay amount as low as possible. They tend to be very agreeable.

Don't lose track of what this Hampster thread is about. The majority of people on this thread wanted to play a game to just stay in their properties longer. Their goal is/was NOT to hold onto the property. This is probably not the best thread for you to be on if you want to save your home. Dragging things out when you really want to modify & keep your home is not to your benefit. The longer you drag it out, the more your delinquency grows & the harder it will be to qualify. A better, more active thread might be: http://www.loansafe.org/forum/threads/bagels-at-a-bar-mitzvah.45173/page-208

If there are HHF funds available in your state, then you should be applying for that immediately since as you know, that money can be used to help with the delinquency. Depending on how HHF funds are being used in your state, you might still need a loan mod to help you get a lower payment moving forward. HHF programs differ from state to state. If it's your tax filings that are complicated and time-consuming, if it were me, I would file as quickly as possible and as accurate as possible for now. Do your best just to get something filed. You can always file amended returns later when you have more time.
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