Foreclosure

$4,918,262,770,000

2007 US Census

$100,904 (avg. principal owed) X 48,742,000 (owner occupied homes)

Note: 24,885,000 owner occupied have no mortgages

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.

Real estate transfer taxes vary from state to state. You need to contact your local land records recording office and inquire about your state tax rate. You could check at your state's official website to see if that information is posted. You could also do an internet search to see if your land records office has a website. Search by county and state + land records.

You can stall a foreclosure. If you negotiate with the lender for a short sale, the lender may hold back on the foreclosure process to allow you to complete the short sale. You can also challenge the foreclosure process in court. If there are any irregularities in the foreclosure process initiated by the lender, the court can stall the foreclosure. You should ask the lender to produce the original note. Often the lender initiating the foreclosure is not the original lender. Most lenders sell the mortgage to other lenders and institutions. It is the subsequent lender who generally initiates the foreclosure. Often the subsequent lender may have problems producing the original note. Sometimes it can take months to produce the original note. Filing for bankruptcy also stalls the foreclosure. Negotiations with the lender can also buy you time. For an official opinion, it is advised you seek legal counsel.

In a mortgage foreclosure process, the time between the foreclosure filling date and the auction sale is called the "Equity of Redemption Period". Once the home has been sold, most States grant a time period such as six months for the defaulting owner to repay the debt and fees. This is referred to as the "Statutory Period of Redemption".

It really depends on your location and the market condition of your home. There are websites that offers updated market prices and statistics on every state.

In some states, legal procedures regarding mortgages do require lenders to inform borrowers of the intent to foreclosure. And if the bank is required to follow the FHA preforeclosure process, they must attempt to work with homeowners before foreclosing.

Other jurisdictions, though, allow the bank to file the foreclosure lawsuit and let the filing of the suit and its delivery to the borrowers serve as notice. From the time the foreclosure lawsuit is filed, owners have a period of time to answer the complaint.

The homeowners and lender sign a note and a Mortgage or Deed of Trust to create a security interest in the real estate. The right to foreclose in the case of a default is set forth in the mortgage clause entitled "Power of Sale".

Foreclosure can ruin your credit. When you apply for credit, lenders will look at your credit report. Foreclosure stays on your credit for 7 years. However this does not mean that you cannot get credit after foreclosure. You may not get credit immediately after foreclosure. However if you have taken steps to repair your credit immediately after foreclosure, lenders will be willing to consider your application positively. But you may have to pay more interest and provide collateral. Lenders understand that people go though financial up and downs. You must show that you have learned from your past financial mistakes. Even if you the general banks and lenders are reluctant to lend to you, there are lenders who specialize in lending to individuals who have been in foreclosure.

Legal Disclaimer:

The answer above should not be relied upon as legal advice. The information provided above is based on insufficient facts and only speaks to a general opinion based on those insufficient facts. No warranty is provided that the answer is correct. No attorney-client relationship has been formed with me until a signed written contract is complete. For an official opinion, it is advised you seek legal counsel.

Generally, the party who recorded the lien. Specifically, California Civil Code 1367.1 (d) states that when a notice of default is filed in connection with a default in homeowners' dues in a condominium project, the association must record it or cause it to be recorded within 21 days of the payment (and provide the homeowner a copy of the recorded notice).

You would be in default of the mortgage and the bank will take possession of the property by foreclosure. You would lose your home.

We were granted a chapter 13 over a year ago in which we surrendered out house. The lender, GMAC, has not sold the home, but keeps putting if on the market and taking it off. No one has lived there for the last two years, yet our HOA still expects us to pay for the road maintenance fees - even though we no longer even drive there or live there.

Is this right? What can we do?

Sorry, but when I tried to enter this in as a question, it kept cutting me off after just the first two sentences.

I only want to know the mailing address to BAC home loan servicing LP. I have a statement to put in the u.s.post office-

ct corporation system is their registered agent

ProTitleUSA will help you in this matter on a professional level!

The lender can go after you for any deficiencies and the foreclosure will be reported on your credit record. As a co-signer you are equally responsible for paying the mortgage.

Obama's loan modification housing plan basically aims to assist borrowers by making their existing loans more manageable in line with household budget. We cannot possibly say for sure how well the plan will work out the long term, nor how sustainable it is, but the advantages laid out have been massive. As well as assisting borrowers to regain control of their finances, it is now also easier than ever for a homeowner to qualify for this assistance. It is much easier, for example, than qualifying for traditional refinance.

Obama's loan modification housing plan is even open to those who are not yet in arrears. So even if you are up to date but do anticipate trouble paying in the near future owing to a change in circumstances, you can still apply. Homeowners on this scheme are given the opportunity to have the terms of their existing mortgages adjusted in order to make their monthly payments more affordable. Loan modification attorneys with infinite knowledge and experience in this area are also on hand to offer advice. This plan is basically the government run initiative to try to end the current housing crisis by avoiding foreclosure.

Although widely covered in the press, many consumers still do not really fully understand the details of Obama's plan. Essentially the measures that can be taken in modifying existing mortgages and loan include reducing the principal, the interest rate and the monthly payment. Through government initiatives, both lenders and borrowers alike are finding themselves more willing to partake.

Fundamentally, the plan wants to prevent borrowers in arrears from ever actually losing their home to foreclosures. Lenders receive incentives to take people onto these schemes as well.

It is estimated that a huge 5 million borrowers will enter into Obama's loan modification housing plan, with those most at risk of losing their home saved by more manageable payment plans. Although incentives are paid to both delinquent borrowers and to lenders alike, lenders actually receive extra incentives if they take on people who are NOT yet in arrears but who are struggling. It seems that Obama's plan is winning favour with borrowers and lenders alike and is making massive progress in recovering the housing market.

Get your top loan modification questions answered at : http://www.Obama-loanmodifications.com

Many people do. An advisor can tell you what options are open to you. You can then make an informed decision

I sold my home with contract for deed tenant not making any payment who i can get back my home who i can evict him from my home

How can I pay my loan online

Legally they can foreclose at any time, even if you have made all payments on time.

In practice however, they normally don't foreclose until you have missed several payments; the exact policies will vary depending on your lending institution.

yes,but it would only add to your problems as it is your responsibility to ensure you have a sound unit for the security of the loan. It is your issue to ensure the unit is sound and worth what you are paying. The bank is not the babysitter here and is possibly left holding something that is not of value due to a negligence on your part.

You basically get kicked out onto the streets...

Some areas of the country have been hit much more severely than others. We haven't hit the bottom yet because mortgages that are in default have been piling up behind the floodgates.

There are thousands of properties whose owners are in default and the lenders haven't yet taken possession of those properties. Banks don't take always take possession of properties that are in default as soon as the owners stop making payments because there are too many for them to take on all at once. They often wait until they have a buyer or take a few at a time in any one region, market and sell them.


The market is extremely depressed in many areas of the country. It is more difficult to qualify for a loan. Many people who would qualify under normal conditions are reluctant to take that step because of the instability in the work force. Young working couples who might have purchased their first home around this time find themselves working in industries that are downsizing due to the poor economy. They see their employers laying off or terminating employees by the hundreds and don't know if their notice will come next. They don't dare take advantage of the first time homebuyers perks.


Some cities have huge numbers of foreclosed properties that aren't selling. Many of those properties have been allowed to fall into disrepair since the owners couldn't afford them in the first place. They drag down the property values of other properties in the area.


Although the conditions vary around the country region by region, we haven't hit the bottom yet.