0
In short, the answer is a resounding NO. Once someone actually understands how liens work, and how the foreclosure process works, one realizes that the UCC filing can not help, and anyone who says so either doesnt know better or is a scammer. The simplest way to know if something is a scam is to ask yourself this...
"If this truly cant be done, why isn't everyone doing this?"
When you buy a home, a lien is placed against it called a mortgage. This lien has 1st rights to the asset (your home) should you fail to make the payments. Should you get a 2nd mortgage against the property, this lien is called "secondary" and should you be sued by someone, that judgment lien is in 3rd position.
Now you foreclose. You are not making your payments. When the house sells at auction, the 1st lien holder gets all the proceeds. Should money be left over, the money pays the 2nd lien holder and other lien holders until nothing is left.
By filing a lien against your own property (which in itself is fraudulent, because you are impeding the due process of the foreclosure look up bankruptcy fraud and conveyance fraud.)
But for sake of argument, lets say you file this lien against your property. The 1st lien holder, or your lender can foreclose on you, without approval of the other lien holders. They have the first right. If they chose not to, the 2nd lien holder can supercede the 1st by presenting their own foreclosure case against you.
Ive been in this business for the past 5 years, and I have heard the craziest "loopholes" and theories on how to help struggling homeowners. None of them work, and those that have approached me with these schemes have all ended up in jail. I was approached with this ideal in early 2007, and that promoter is now spending 20 years in jail.
If you seek further advice on how to delay your foreclosure, feel free to email me at trusteedelayservice@gmail.com for non-biased and legal strategies that can help you.
What else can I help you with?
Can a ucc 1stop a bank from taking your home?
A UCC-1 filing itself cannot stop a bank from taking your home if they have a legal basis for foreclosure, such as defaulting on a mortgage. The UCC-1 is a financing statement that secures a creditor's interest in personal property but does not affect real property rights like ownership of a home. If you're facing foreclosure, it's essential to seek legal advice to explore options such as loan modification or foreclosure defense.
How can I get protection from foreclosure?
You may: 1. Work with the lender and negotiate to end the foreclosure. While I recommend this method, you need to be prepared to enter into a payment plan with the lender. Be persistent--if the lender says no initially, ask to speak to a supervisor, as banks don't like foreclosures. Remember that foreclosure costs the bank money too. 2. Sue to stop the sale. You can do this, but you will likely need an attorney. And the relief is only temporary. 3. Refinance and pay off the debt in full.
How many houses are in foreclosure?
1. Commercial Property 2. Residential Property
What is the rate of foreclosure on Indianapolis homes?
Indianapolis has a fairly high foreclosure rate. As of first quarter 2011 the rate was about 1 in 500 homes. That's one of the highest rates in the country.
What is the phone number for chase home finnance foreclosure department?
1-877-836-3040
Can a ucc 1stop a bank from taking your home?
A UCC-1 filing itself cannot stop a bank from taking your home if they have a legal basis for foreclosure, such as defaulting on a mortgage. The UCC-1 is a financing statement that secures a creditor's interest in personal property but does not affect real property rights like ownership of a home. If you're facing foreclosure, it's essential to seek legal advice to explore options such as loan modification or foreclosure defense.
Can you file a ucc-1 before a security agreement is signed?
Its not recommended. You should sign the security agreement and have it notarized prior to filing your ucc 1
Does the ucc-1 expire or does the institution have to file a ucc-3?
Yes it expires 5 years from the filing date. Within 6 months of the expiration date the institution can file a UCC-3 continuation to continue the filing for another 5 years.
What is the foreclosure rate in Inglewood California?
1 in 3267 homes in Inglewood, CA received a foreclosure filing in August 2009.
How long are Delaware UCC-1's effective?
Five years from the initial UCC-1 filing, although a UCC-3 continuation can be filed within six months of the day of termination that will exted the termination date by another five years.
Can a real property owner file a UCC1 for their deposit on the property that is about to go into foreclosure?
Yes You can file a UCC-1 Statement for property
What is the foreclosure rate in Miami Florida?
The foreclosure rate in southern Florida has fallen to 60% within the past year. With 1 out of 65 homes receiving a foreclosure filing. It currently ranks as 30th in the nation.
How long are UCC-1 liens in effect once filed?
Effective for five years after the date of filing (longer with certain exceptions).
How much does UCC-1 filing cost?
The cost of filing a UCC-1 financing statement varies by state but typically ranges from $20 to $100. Additional fees may apply for extra copies or expedited processing. It's important to check with the specific state's Secretary of State office for the exact fees and any additional requirements.
How long is a ucc 1 good for?
A UCC-1 financing statement is generally effective for five years from the date of filing. To maintain its effectiveness beyond this period, the secured party must file a continuation statement within six months before the expiration date. If the continuation is filed on time, the UCC-1 can remain effective for an additional five years.
What is UCC 1-103 1-308?
what is UCC 1-103 1-308
Will filing a UCC 1 as a secured party guarantee a win in a child custody battle?
Being a secured creditor will have absolutely no impact on a child custody case.
