A Family Forecloses a Bank for Trying to Foreclose Them

In most cases, it should come as no surprise when a foreclosure notice shows up in your mailbox (or gets nail-gunned to your front door by a sheriff’s deputy like in the movies). After all, it doesn’t happen unless you’ve gone months (or years) without paying your mortgage. It’s the kind of thing a person should see coming.

But this wasn’t the case for the Nyerges family — their foreclosure notice from Bank of America came as a total shock. Why? Because they paid for their house in cash. That’s the type of act that normally keeps a family safe from the foreclosure monster. But Bank of America wasn’t going to let the fact that the Nyerges home was paid off keep them from taking the matter to court and attempting to foreclose on it anyway.

Read more: The 5 Most Satisfying Tales of Payback | Cracked.com http://www.cracked.com/article_19633_5-most-satisfying-tales-payback.html#ixzz1krv0K5UZ

The 5 Most Satisfying Tales of Payback | Cracked.com.

Foreclosure’s, shortsales and great real estate opportunities abound!

Nashville real estate is available right now, the collapse of the mortgage industry and the slowdown of the economy has forced thousands of home owners to go into short sale and foreclosure status. The banks are attempting to liquidate homes through the real estate market as quickly as possible and there are thousands of home owners just trying to sell homes to move up in the world, leave the state, or just make a change. All of this available stock on the market is a spectacular benefit to the home seeker. Now is a wonderful time to put some money into the real estate market of Nashville as it is easy to find great investment properties with excellent potential. It is also the right time to make the move to Nashville for your private residence. The availability of so many homes provides home seekers with unprecedented choices and the buyer’s market status allows you to make low offers and seek out additional incentives when making a purchase.

The Science Behind the Smile – Harvard Business Review

Much of the research confirms things we’ve always suspected. For example, in general people who are in good romantic relationships are happier than those who aren’t. Healthy people are happier than sick people. People who participate in their churches are happier than those who don’t. Rich people are happier than poor people. And so on.

That said, there have been some surprises. For example, while all these things do make people happier, it’s astonishing how little any one of them matters. Yes, a new house or a new spouse will make you happier, but not much and not for long. As it turns out, people are not very good at predicting what will make them happy and how long that happiness will last. They expect positive events to make them much happier than those events actually do, and they expect negative events to make them unhappier than they actually do. In both field and lab studies, we’ve found that winning or losing an election, gaining or losing a romantic partner, getting or not getting a promotion, passing or failing an exam—all have less impact on happiness than people think they will. A recent study showed that very few experiences affect us for more than three months. When good things happen, we celebrate for a while and then sober up. When bad things happen, we weep and whine for a while and then pick ourselves up and get on with it. (click on link below….)

The Science Behind the Smile – Harvard Business Review.

Freddie Mac Details HAFA Initiative for Distressed Homeowners

Freddie Mac (FRE: 0.00 N/A) detailed the guidelines for its version of the Making Home Affordable Foreclosure Alternatives (HAFA) program at the same time fellow government-sponsored enterprise (GSE) Fannie Mae(FNM: 0.00 N/A) unveiled a similar initiative.

In a mortgage seller/servicer bulletin released Tuesday, Freddie outlined the guidelines for HAFA, a subset of the Making Home Affordable Modification Program (HAMP). It provides financial incentives to servicers and borrowers who pursue a short sale or a deed-in-lieu of foreclosure. The program, along with Fannie Mae’s version, mirrors the main HAFA program, which the Treasury Department rolled out in April.

Freddie Mac Details HAFA Initiative for Distressed Homeowners « HousingWire.

 

Foreclosures Drag on Longer Than Ever

The October 2011 issue of the Mortgage Monitor, a report from LPS Applied Analytics, indicated that the average loan in foreclosure has been delinquent for a record 631 days nationwide.

In Michigan, nearly 12 percent of homes are noncurrent, but they had declined 15 percent from last year.

Some of the age of this backlog is attributable to the sheer number of homes that have gone into foreclosure in the last couple of years. The main factor now appears to have been caused by lenders being much more cautious when filing foreclosure documentation (click on the link below to continue reading…………..)

Foreclosures Drag on Longer Than Ever.

YouTube – MOTIVATION – “Be Great, Powerful Beyond Measure” – Best Inspirational Video Ever [Original]

Only you have the power to choose your attitude in any given circumstance.  Winning is about never giving up. Pushing forward in the face of adversity, and realizing that sometimes its these challenges in life the open an unseen future of endless possibilities.  Do not be afraid of the unknown, but open to unknown opportunities that lay ahead.

Facing Foreclosure? Watch the following video…

Take a moment to occupy the moment you are in…………….

New Tax Rules for Short Sales – Foreclosures – YouTube

How can a short sale benefit you more than foreclosure? Listen to the Money expert below and you make the decision.

New Tax Rules for Short Sales – Foreclosures – YouTube.

Opinion: Foreclosure Bill Unjust To Homeowners, Community – Memphis Daily News

Tennessee is a non-judicial foreclosure state, meaning that a bank or mortgage company does not have to get approval of a court before proceeding to foreclose on a family’s home. It can simply notify a trustee, named in the original loan documents, that there has been a default on the mortgage (usually an alleged failure to make payment on the note or taxes or to maintain insurance). The trustee can give notice to the homeowner, publish a notice of foreclosure for three consecutive weeks in a local newspaper and auction the property on the courthouse steps.

A majority of states require that a bank file a court action and convince a judge that it is legally entitled to foreclose before proceeding. Because of widespread and well-documented misconduct or mistakes by mortgage lenders, more and more courts have given increased scrutiny to petitions to foreclose. Many courts have refused to allow foreclosures to go forward because a party trying to foreclose could not even show that it owned the loan documents.

Opinion: Foreclosure Bill Unjust To Homeowners, Community – Memphis Daily News.

YouTube – [VIDEO TRUTH] ATTY VANESSA G. FLUKER “WHY YOU WON’T GET A MODIFICATION”

If your in foreclosure you must watch this video. Dont loose your home to foreclosure. Consult with a foreclosure specialist such as myself, to go over all your options.