Green Country Bankruptcy

The court expressly stated that the trustee is not estopped by the debtor’s statements in their schedules as argued by the creditor.

I learned more through your web site in the past hour than from all of the web sites I’ve been investigating for the past several weeks. Thank you for sharing your knowledge.

I wish your practice was in California; I would love to have the benefit of your expertise.

I just visited the NACBA web site and signed the petition for Senate Bill 61…wow, talk about timing! This is something that could help me tremendously since I am not eligible for the HOPE program, and Countrywide has not been helpful at all (I’ve been calling them for the past 5 months for any type of refi or mortgage modification).

http://www.nacba.org/S61/

Love it!

Thanks so much.

Most of these loans were service initially by a particular company, who turned around and sold it to Banks who in turn would sell it to investors either in pieces or what ever.

The initial service company subcontracted or had contracts with individuals who served as Realtor and brokers, who they did business with, and these brokers were in contact with other banks and other servitors or service companies, who they sold these loans to. The banks continue selling and packaging these loans to their investors and kept providing lessen standards of loan approvals. Everybody got paid, over and over.

These loans had to be “package perfect”, to continue the frenzy of incoming profit by everyone from above the banks to the services companies, brokers and the Realtor.

In this frenzy, lowering of standards, bending the rules and possibly breaking them to assure a profit by all involved, my question is what kind of “errors” , are being found now in such contracts that can change or provide a channel of negotiation to benefit the loosing homeowner?
Even as simple as poor or ill conducted initial appraisals or grace periods for contract reviews by homeowners? What kind of error are we seeing in these mortgages?
you may answer here or marsnspace@gmail.com

Tell me one scenario where a short sale is absolutely better and safer. Don’t forget to consider the tax consequences and the possible liability arising out of the sale to the buyer. Now, then, tell me realistically in my jurisdiction what is the downside to my client if he simply sits back and allows a foreclosure?

Elaine