I agree that it worth trying to negotiate with the HOA. The fees and penalties have been accrued by the previous owner and it is in their interest to get a responsible owner and the account paid to date. They probably won't negotiate the dues but may help on the penalty and fees.... more
Another lender caught in the act and in a scam against the homeowners of the United States of America. Give the man double thumbs up (I am so close to being kicked out of here - its funny, all I wanted to do was help spread the word)
Lender is not a lender, got that! The lender is a broker and set up to originate and aggregate! Lender is paid to originate. The real lender is MERS (What! ! ! ! ! ! ) Thats right - only $29 dollars and your lender is MERS. Flip your finger at the regulatory disclosures against business combinations. Its lender make the rules time.
Now its Foreclosure time - Servicer says "before we can help you Sir you must be 60 days down" What the funk! As JFK would say "Let me say this about that". You see the lender who sold the loan and who now is foreclosing (say what!) wants to avoid the repurchase. No way man...foreclosure after 60 days is a foregone conclusion 90% of the time - and you know what? NO MORE RECOURSE SO TAKE EM DOWN AND OUT! FORECLOSURE TIME SUCKKAR!
SO THEY OFFER A MODIFICATION AND A SHORT SALE....RIGHT! PLEASE....STOP IT ....CANT TAKE ANYMORE! ! ! LOSS MITIGATION - DOES NOT EXIST - JOKE ! WHATEVER! RIGHT! ! !
So now it's the night before Christmas and all through the house are the sounds of a family breaking apart once and for all thanks to a lender whos chairman got a $25 million bonus and whos earnings were in the billions last year. It foreclosure and sale time.
So if a lender takes back the house as we know they do in foreclosure - wazzz up with the "sale back " you ask? Its the Tide talking stain! Heppp. oppp waaa booo pawww ! Make sense?
Overcollateralization is that insurance covering gap loss on trustee sale (please its not even a trustee!) That coverage kicks in only in a foreclosure. The servicer for the broker or lender - its partner - get hugola bonus by steering the loan into a foreclosure (Whewwww!) where the lender or broker I mean can side step its recourse and not take a loss. Vegas Casinos in Calabasas, California Winner
So the lenders here are likley executing a sale by trustee on one date and not recording the close untill it "flips" it back to the trustee for the pass through investment. Its what you and I would go to jail for! now am I sure of whats going on .....well maybe the serviers are so busy they forgot right!
Check out the taxes remaining unpaid on all these properties months after closing .