I am not seeing the real scoop on any other website. We have a bunch of attorneys with websites spewing out information meant to convince you that they are very smart and they can sell ads in the blank spots on their website if you visit it. But, do you really care about the latest big ruling where the Borrower almost wins? Of course not, you want to know how to save your house. Or, if you are a true intellectual you want to know how to save your country.
Over the next few days, I am going to define the Players and what they do in plain terms, not like John D. Smith Esquire (fancy attorney title from back east.) I am going to explain and I'm going to give names. As I have said I have had it. My friends all scurrying to cross the street when I come by like my being crazy is somehow worse than house stealing.
Ok. In a normal home loan, there should be two-players who have contracted. One to loan some money to the other who wants to buy a house, preferably while they are still less than 100 years old.
But, over the years, the fellows knew around town as "bankers" went around visiting with the folks we voted to represent us in our state legislatures called "attorneys". The bankers convinced the attorneys (I know it sounds backward, but it is true) that they needed to be able to foreclose much faster and in 26 of the 50 states, they all agreed to create Non-Judicial Foreclosures.
I am not making this up. I know that the hyphenated word Non-Judicial appears to many, myself included, to mean that the Borrower signed something that took away his constitutional right to the Due Process Clause. The Due Process Clause is recognized in the 5th and 14th amendment as the "RIGHT TO BE HEARD". Now, this has mixed up a lot of judges. Some because they don't read or watch TV. Some because they aren't smart enough to understand the constitution. Some because they are just bad people. But don't believe they are all bad. Because there are a whole lot of them getting it right now. They are fine men and women with very intelligent minds. I have been unlucky enough to have not run into them much at all.
But, anyway. In a Judicial state where the party wanting to foreclose is claiming that he
1. has the right to collect money from you,
2. can declare that you have defaulted if you don't pay him the money you don't owe and
3. has the right to foreclose on you out on the court sidewalk out of sight of any court.
1. has the right to collect money from you,
2. can declare that you have defaulted if you don't pay him the money you don't owe and
3. has the right to foreclose on you out on the court sidewalk out of sight of any court.
In these Judicial foreclosure states:
Connecticut, Delaware, Florida, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, New Jersey, New Mexico*, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, Vermont, and Wisconsin
The foreclosing party must file a lawsuit that is between the two parties, which is composed of the Borrower and the Lender. (But, it is never a lender) Since this happens in the court it is the fairest of the two, but unless good men and women do the right thing evil will still win
But, in the Non-Judicial foreclosure states the foreclosing parties have used the strategy of chaos and anarchy to pass laws that really just don't make any sense. In these states:
Alabama, Alaska, Arizona, Arkansas, California, Colorado**, District of Columbia, Georgia, Idaho, Maryland**, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, North Carolina, Oregon, Rhode Island, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, and Wyoming
there are 3 parties. A borrower, A lender, and a Trustee who is holding your loan for you.
I will tell the story of the SUBSTITUTE or SUCCESSOR TRUSTEE IN MY NEXT POST. This is the dirtiest player in the whole stinking pile. After reading about it, you may never want to use an attorney again.
I will tell the story of the SUBSTITUTE or SUCCESSOR TRUSTEE IN MY NEXT POST. This is the dirtiest player in the whole stinking pile. After reading about it, you may never want to use an attorney again.
