Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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lphelps
I'm having to show up at court tomorrow morning at 9am to answer the complaint of JP MORGAN CHASE BANK, NATIONAL assoc. They are suing me for restitution of the property that I have lived in for over 4 years, of which close to 3 years I've been behind on mortgage payments. They stopped sending me statements over a year ago and I've been either unemployed or underemployed to make the $1200/month payment. According to a certified letter I received from McCarthy, Holthus & Ackerman, LLP., my house was sold at a forecloure sale on 12/6/11. This came of a shock to me, because I was never notified by JP MORGAN CHASE that they were foreclosing on me. It appears the house I've been residing in, was sold to JP MORGAN CHASE for nearly $30K less than what I paid for it. They bought the property themselves.. (As if they already don't have a surplus of homes that are foreclosed and vacant..)

My mortgage was an FHA loan and was issued by a company known as Maverick Mortgage. Three months after I purchased the house, I received a notice from JP MORGAN CHASE, that they had purchased the loan.. Then 2008 hit and the whole mortgage problem hit. I was out of a job for half of 2008, worked a little, and then was out that last half of 2009 and most of 2010.

I'm looking at a copy of the SUBSTITUTE TRUSTEE'S DEED and I don't even see a Maverick Mortgage listed. The ORIGINAL MORTGAGEE is: MERS. Could this be the chink in their case and it be tossed out??

Basically to get to the point, can a house/property be sold in a foreclosure sale and the Grantor (Me), be told to vacate the property in 3 days before the bank formally lets me know that I'm being foreclosed on??

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George Burns

You need a good experienced foreclosure defense lawyer immediately, even faster than any reply given here. I doubt that there is time for anything else. Some areas have fairly good Legal Aid Services for those who cannot afford a lawyer. But that depends on what state and county you are in.

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Unregistered

Talk about closing the barn door after all the horses are already in the pasture!

 

Waiting until after the non-judicial sale and the eve of an ejectment proceeding so seek help is a rather assured way to lose.

 

lphelps failure to prepare, plan or otherwise investigate his alternatives hardly constitutes my emergency.  WHY WOULD I WANT TO DEVOTE ANY MORE TIME TO THIS PROBLEM THAT THE DISTRESSED BORROWER IS WILLING TO COMMIT HIMSELF?

 

This looks like an ideal victim for a swindler like Mike H.!  Mike ought to be able to promise the borrower a favorable outcome and take his very last cent as he becomes homeless!

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Ann
I think you should go see a Bankruptcy lawyer .Filing Bankruptcy may stop the eviction ,and your lawyer can file Motion to Set Aside the Judgment and the Sale. It seems you have some valid defenses. It is regretfully that you waited to the eleventh hours to react to the lawsuit.

If a person is served with a lawsuit, it is important to respond to it in the time frame required by the Court. If there is not enough time to search for legal advices, a Motion for Time Extension can be used to ask the Court for another few weeks to reply to the lawsuit

Not a legal advice. Consult an attorney
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Texas
Ann
In my opinion you crossed a legal line. There maybe options other than  filing bankruptcy.

Like George Burns said, the person needs to find a good competent real estate attorney.

From the limited information shown, there appear to be options, pre and post eviction but only an attorney can legally advise as to what course of action.

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ka

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I think you should go see a Bankruptcy lawyer .Filing Bankruptcy may stop the eviction ,and your lawyer can file Motion to Set Aside the Judgment and the Sale. It seems you have some valid defenses. It is regretfully that you waited to the eleventh hours to react to the lawsuit.

If a person is served with a lawsuit, it is important to respond to it in the time frame required by the Court. If there is not enough time to search for legal advices, a Motion for Time Extension can be used to ask the Court for another few weeks to reply to the lawsuit

Not a legal advice. Consult an attorney
   

 

Ann, you are way out of your depth!

 

lphelps is describing a non-judicial sale, hence the substitute trustee's deed.

 

There is NO JUDGMENT to set aside.  The sale was already OVER when lphelps posted the message.  What was coming the next morning was an ejectment action for possession of the property.

 

The way to PREVENT a sale in non-judicial states is either (a) file for Bankruptcy BEFORE THE SALE, and/or (b) Bring an action in court as a plaintiff and seek a TRO to stop the sale.  These need to be done BEFORE THE SALE IS CONDUCTED.

 

Once the private sale is actually complete, alternatives narrow.  If the sale was so fundamentally defective that the substitute trustee's deed conveys no title (e.g. the Ibanez situation), then the distressed borrower need do nothing at all EXCEPT to prepare to attack the defective deed at the ejectment proceeding.

 

If the sale was properly conducted with regularity in conformance with the contractual provisions of the deed of trust and statutes, then the only real recourse is an action as plaintiff for wrongful foreclosure, should there be a basis to do so.

 

You state "It seems you have some valid defenses."  What might those be?

 

The borrower is in an absolutely horrid position.  There is nothing in the post that suggests that there was a valid defense had the borrower acted in a timely way.  Acting now, AFTER THE FACT, the borrower's prospects are far more grimm.

 

There might be some valid reasons for this borrower to file Bankruptcy.  STOPPING THE SALE is NOT one of these.  THE SALE ALREADY HAPPENED.

 

It is really dismaying that you have been a participant at the Forum this long and haven't caught on to even the rudiments of how foreclosures happen in non-judicial foreclosure states.

 

It is better to SAY NOTHING that to give blatantly incorrect information.

 

While it is a GOOD IDEA for the borrower to consult an attorney, HIRING an attorney to try to set aside the sale is probably a matter of tilting at windmills.

 

Sometimes, a borrower's best course is to move on and get the matter behind them.  This borrower MIGHT HAVE HAD some viable avenues, but under the very best of circumstances, the deck is stacked against borrowers in non-judicial foreclosure states.  A distressed borrower facing a non-judicial foreclosure has a tough time defending when the borrower starts early (as in immediately upon default).  This borrower would stand far better chances putting the same money into lottery tickets than spending money on a lawyer in hopes of saving a home that has ALREADY BEEN SOLD. 

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