Foreclosures Help Information

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Buying Foreclosed Property From Bank

Question: Once your house is foreclosed on and you have had liens against your house do they follow you?

We got sued a couple of years ago when a kid got injured on our property. He won a settlement of $75,000. They put a lien on our house. Our house was foreclosed and sold at auction and we were evicted on Sunday. We got a note from the bank saying thank you for paying off your house. If we go to buy a new house someday does the $75,000 lien come with us or was it settled when a flipper bought our house?

Answer: Was the house sold for more then you owed? If it did then what ever was left over then it would have gone to payoff that lien. If not then the lien will follow you until it is paid off. If the house was sold for less then the amount owed you will be responsible for the difference of that also. Good Luck.

The Real Estate Newbie Investing Show - Buying Foreclosures ( Bank Owned Properties )

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Foreclosure Help From Government

Question: Has the government helped families with "interest only loans" who may lose their home to foreclosure?

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Answer: No, you seem to be confusing families in foreclosure with the banks who took advantage of these people.

The government, through the Federal Reserve, is helping the banks by giving them below-market interest rates loans. Just last week, another $200 billion was made available to banks. They can trade in bad mortgage debt in return for Treasury securities.

That effectively means that the banks have absolutely no reason to work with homeowners in foreclosure. They know they can just hide the foreclosures later on and get free money from the government. So there's no reason to spend any of that free money on helping homeowners save their homes from foreclosure.

There has been a lot of talk about helping the homeowners, but nothing substantial has been done. The HOPE NOW and Project Lifeline programs involve about 6 lenders in the country total, and they are voluntary for the banks to participate in. Also, they do not offer any solutions that banks could not offer in the first place, making them completely public relations schemes.

So, the banks have all the low and no interest rate loans they can handle, which came care of the Federal Reserve. It's also not being discussed that easy credit and low interest rates created the housing bubble in the first place. So the Fed is just doing whatever they can to create another bubble somewhere to bail out this current bubble's crash.

Don't look at what the politicians in Washington are talking about. Look at what they do. They talk about helping families in foreclosure (even proposing funds of $30 billion), while freely giving out hundreds of billions of dollars directly to the banks. Maybe $30 billion for 300 million Americans; over $200 billion and counting for a handful of the largest banks. Who benefits from this?

Hope that helps.
ForeclosureFish

Foreclosure Help : About Government Programs to Stop Foreclosure

Stop Foreclosure Produce The Note

Facing home foreclosure is scary and humiliating. This fear can cause immobility to set in to where even the phone does not get answered. Action is a must if the home is to be saved from bank foreclosure. Knowledge is a must to stop foreclosure.

There are many tips and techniques available to help to stop the foreclosure process. But there is one technique that is of utmost importance to every homeowner.

If you use this key it could save your home from a foreclosure auction on the courthouse steps. This key is an item that is often overlooked.  However, it is the key to any mortgage and to every right of foreclosure initiated by the lender. Without it the lender has no authority to foreclose on any property.

The keystone to all of this is the contract. Without a contract there can be no mortgage. The mortgage is not a stand alone document.

Challenging the banks right to foreclose is pretty agressive and it is pretty powerful.

There are many successful challenges made every day and hundreds have already challenged the banks right to foreclose and have won. So can you, if you take action.

The mortgage contract is often lost or destroyed and cannot be produced when a demand is made for it's production. This is very sigificant and powerful to your case. It can mean the difference in losing your home and keeping it.

The lender must produce the note/contract or offer an explaination why it cannot be produced. Usually it has to be a very substantial reason why. Something along the lines of a fire or flood destroyed it. Simply claiming it was destroyed and preserved digitally or misplaced is not sufficient in most cases.

Please note, an attorney did not write this. This are only opinions and everyone has one. So please use do diligent research and arm yourself with knowledge and become powerful. These people expect most borrowers to roll over and play dead with it comes to bank foreclosures.

If you want to have some fun, learn how to make this challenge in any bank foreclosure and you can watch the cockroaches fly for the dark corners of the universe.

http://www.stop-mortgage-foreclosure-process.com/wordpress/5-things-you-need-to-know-about-the-foreclosure-process

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Source - Stop Home Foreclosure Now - Demand Orignial Contract

Homeowners say "Produce the Note" to Stop Foreclosures!