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JP Morgan Chase freezes foreclosures

Home Forums General EHTrust/EHT Topics and Creative Real Estate Financing JP Morgan Chase freezes foreclosures

This topic contains 17 replies, has 0 voices, and was last updated by Avatar of amyhutton amyhutton 11 years ago.

Viewing 15 posts - 1 through 15 (of 19 total)
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  • #6450
    Avatar of amyhutton
    amyhutton
    Participant
    #32853
    Avatar of corkhorner
    corkhorner
    Participant

    the cycle keeps changing almost daily.
    If Chase does this it follows the others will.
    c h

    #32854
    Avatar of eslack
    eslack
    Member

    AMY,
    Thank you for sharing..
    So far, we have GMAC/ALLY… now Chase.. and JP Morgan…

    My problem is that with all the investigations by SEVERAL AG’S across the nation… and politicians sending open letters to the Justice Department…
    FORECLOSURES ARE STILL HAPPENING AT A FASTER PACE THAN IN 2009!
    HOW IS THIS “NOT” INSANITY?????

    I am so sad to see what is taking place in a country as great as ours!

    #32855
    Avatar of amyhutton
    amyhutton
    Participant

    Well, for my own familyI took matters into my own hands and got Three Arck to get rid of my illegal mortgage which is now with Bank of America.

    Started July 8, and today we’re at stage 7- Order for Release and Request for Summary Judgment. How’s that for efficient?

    Don’t know why my house is so much ahead of the other submissions. But I’m not gonna argue the point.

    Amy

    #32856
    Avatar of scott_l._moyes
    scott_l._moyes
    Participant

    Amy… You Go Girl!

    #32857
    Avatar of amyhutton
    amyhutton
    Participant

    It’s hard for me to understand why every network member, or anyone who even READS this board who has an over-encumber4ed mortgage hasn’t submitted their home to Three Arck.

    What are they all waiting for?

    Amy

    #32858
    Avatar of scott_l._moyes
    scott_l._moyes
    Participant

    @amyhutton wrote:

    It’s hard for me to understand why every network member, or anyone who even READS this board who has an over-encumber4ed mortgage hasn’t submitted their home to Three Arck.

    What are they all waiting for?

    Amy

    They’re all waiting for “Change”. Whatever the hell that is.

    Didn’t you know that the Gubment, Family or their Church is going to bail them out… NOT? I’ve actually had several homeowners, including NARS Members be totally serious and tell me they are sure they’re going to win the lottery. When I asked them how they knew, one told me, “because I prayed about it and where do you think all my house payments have been going, I’ve been buying lottery tickets and one of them just has to be a winner”.

    Well I have news for them. Our savior, Mr. Change, not only didn’t hear your prayers, he supported the shisters and bailed them out. And now we find out that that didn’t even work. When is all this “Change” going to stop?

    Remember, there are three types of people…

    1. Those that Make Things Happen (Amy, Bill, Scott, Dave, Etc.)
    2. Those that Watch Things Happen (Lurkers)
    3. and Those Who Want to Know… What the Hell Just Happened? (Lurkers who invested in Lotto Tickets)

    #32859
    Avatar of corkhorner
    corkhorner
    Participant

    Damn, scott. My dollar ticket isn’t going to return 148 million percent?
    I feel like crying when I can’t rely on my lotto ticket. NOW WHAT! :)

    To quote one of the Grand Masters Ron LeGrand, “ya gotta make offers that are embarrasing.”? He also said ‘you may have engineered the deal but you may not be the best at selling it’.

    This reference is not intended to take away anything from this board, you, NARS or especially Bill G.

    It’s what Bill G is referring to when to use whatever tool is appropriate and works. Although EHT may be the 5 star Elite, some don’t get it or wan t to get it. I say, So what.

    Change? Study Disraeli. It’s about this continuously. Like the mountains around SLC.

    as to prayers and real estate success, whatever works for them.
    Frankly, I believe God gave us intelligence to use and She expects us to do so. My mother, a very earthy Italian woman who I remember fondly often said “The lord helps those who help themselves”. I agree.

    what’s good about the tsunami meltdown is it’s far far from over thanks to the greed on The Street, Big Money, and right down to those who knew they could not afford what thy were signing on for.

    Keep watching and taking action whether LFC, 3arck, Unlimited Mortgage Relief or a cmbo EHT thrown in , keep throwing the $HIT at the wall. Lots of it.

    For those confused and spellbound, throw your suspects at me.

    A. Corker, to say the least.

    c h

    #32860

    “It’s hard for me to understand why every network member, or anyone who even READS this board who has an over-encumber4ed mortgage hasn’t submitted their home to Three Arck.

    What are they all waiting for? “

    I believe

    $8K and 100% loan on my house is worth waiting for.

    Its not like I have to leave home tomorrow for a free house next year.

    I’ve spent the last three months doing case research and have convinced myself that I’m sitting on a house that the bank no longer can touch; however, I’m not going to play russian roulette against them until I’ve done some other things which set them up for a technical fall.

    I can’t imagine with all the foreclosure cases repealed or dismissed by judge and all the court documents freely floating the internet that one couldn’t competently figure out what they winning teams are saying in court and simply find a way to train a new attorney or paralegal to replicate the results -especially when you understand the basics of what the 3ark program does.

    $8K might have been ok, but $8K plus a whole new mortgage (lets not bs ourselves here) when I could potentially have it for free with a little time energy and less money…makes more sense to me, right?

    I’m going to try the cheap tickets first, and if that doesn’t work I’ll reluctantly shell out the 8K and see about getting my mortgage cut down a bit.

    my two cents.

    #32861

    I only half answered that question you posted Amy.

    As for doing this on MY house…my answer is above.

    The thing I’m working on is finding every house where MERS is recorded as the lender of record in my county and starting a mailing campaign related to to what the 3 ark process is doing.

    I agree with you – why wouldn’t anyone else be doing this? I just need to see that it works. I’m getting all my marketing materials done now so that when 3ARK does go off as planned we’ll have plenty of lead time to get started helping get the banks out of peoples homes.

    JG

    #32862
    Avatar of tmr28
    tmr28
    Member

    Well, I would suspect for most folks the reason they don’t beat down 3arck’s door is due to the $8k. If you’re out of work or had been long enough to fall way behind on everything, $8k might as well be $8 trillion! I’m sure 3arck works as Bill says it does, but only for the privileged few who can afford the $8k. I’ve worked firsthand with foreclosures for a law firm and I can tell you with certainty: Folks are just plain broke.

    #32863
    Avatar of scott_l._moyes
    scott_l._moyes
    Participant

    Not having the 8k is no excuse. Why aren’t they getting their paperwork in order and putting the payments they aren’t making in escrow or the contingency fund to pay for it when the fund is at 8k?

    If they don’t end up doing it they will at least have what they have saved to move or whatever. Comon people use your noggins.

    #32864
    Avatar of sstanton
    sstanton
    Member

    The people I am working with do not have the 8K and are current with their payments. They can just barely afford to stay afloat. I will not ever suggest to them to stop payments to pay for this.

    I had the pleasure of having lunch with Bill a month ago, it had been a long time since we seen each other. During that conversation, he said to take a transaction and we’ll find a way to make it work. That is where we are at right now. The homes are to low for his investors and the owners are too cash strapped.

    I am working on some ideas that I am going to run past him today.

    @Scott wrote:

    Not having the 8k is no excuse. Why aren’t they getting their paperwork in order and putting the payments they aren’t making in escrow or the contingency fund to pay for it when the fund is at 8k?

    So, Scott, you cannot assume that everyone entering into a 3A program is not making their payments, but, at the same time, “no excuse” still applies, one just needs burn some brain cells , there is a solution to the problem.

    When I get the solution for the low end homes, I’ll share it here.

    #32865
    Avatar of dave salcido
    dave salcido
    Member

    @sstanton wrote:

    The people I am working with do not have the 8K and are current with their payments. They can just barely afford to stay afloat. I will not ever suggest to them to stop payments to pay for this.

    When I get the solution for the low end homes, I’ll share it here.

    The very cheapest way that I know of in order of cost is:
    1. Homeowner searches Internet for Wrongful Foreclosure/Lack of Jurisdiction based on Standing and/or Verification of Debt samples- creates new docs based on format and goes to court Pro Se (unless your last name is Mialocq, good luck)
    2. Homeowner includes Jurisdictionary in #1
    3. Homeowner includes Loan Audit in #1
    4. LFC membership ($1995)(or 3 “easy” payments of $700) for DIY- get access to docs and coaching for Pro Se defense (audit and Jurisdictionary still recommended)
    5. 3ARCK “Deal Done for You” (DDFY) at $7995 (refundable)
    6. LFC Loan Reduction company contact “Deal Done for You” (5% of FMV)(loan reduced to FMV-no mortgage elimination)
    7. Homeowner gets help from attorney that accepts case on contingency

    If there is a less expensive, successful alternative, I am all ears.

    #32866
    Avatar of tmr28
    tmr28
    Member

    I cannot rationalize telling someone to go 8-10 months behind or their mortgage on purpose in order to “save up” the 8k needed to pay a firm to do something that it itself acknowledges “may” not work and give them a refund for…Upon 3arck’s failure (which I acknowledge may indeed be rare) they get their 8k back but now their credit is dinged for 8-10 months back of missed mortgage payments..not to mention foreclosure proceedings which would have for a certainty begun…the refund is not a fine consolation or a good risk to take to hardworking blue collar working class folks who may or may not be that financially sophisticated.

    With that said, I am not a pessimistic defeatist who always finds the negative. Like Stu, I believe we can search and discover a solution for this…

    However, I think it would be arrogant on my part to assume that 8k is not a real obstacle when 80-90% of working people who earn money in this country of 300 million earn less than 60k a year (household income) and most of that income is owed out before its even earned due to crushing debts.

    8k may not be much to some of us but to most people, they have never even held 8k in their hands (or bank account ) in their entire lifetime. Sure they’ve earned it, but never held it at any given time on a given day.

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