CONTINUE: SHORT SALE OR DEED IN LIEU OF FORECLOSURE: WHICH IS THE BEST STRATEGY? NONE OF THEM!

"Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat."

-Tzun Tzu 4000 BC or so

THE NUMBER ONE (#1) QUESTION I AM ASKED BY DISTRESSED BORROWERS WHEN I TALK TO THEM FOR THE FIRST TIME IS:

WHICH IS THE BEST WAY FOR ME TO DO THIS?

A). SHORT SALE;

B.) DEED IN LIEU OF FORECLOSURE;

C.)  OR JUST LET THEM FORECLOSE?

THE CORRECT ANSWER?

Well I am compelled to answer that question with "(D) NONE OF THE ABOVE".

I think the best strategy is to stand and fight for your home. You should DISPUTE the STANDING (the legal right) of your foreclosing party to (1)  collect any money from you (2) Declare that you are in default on your loan. and (3) Foreclose on you. That is the defense given to you by the founding fathers of our country.  

All of our country's courts are limited to having jurisdiction over disputes described as cases and controversies.  That means that two parties are arguing over their interests in the same subject matter. If both parties have not presented "concrete and substantive" evidence of their proof of a genuine dispute between the two parties.  If neither party challenges the standing of the other, it is the responsibility of the court to look at the opening lawsuit and answer and if one or more of the parties have not proven that they have standing than the court must decide if it exists.  If the answer is no, then the court must dismiss the case (in this case the foreclosure). Standing cannot be repaired. It existed at the beginning or never.

Boy, is it better to take a little time to see if your foreclosing party can prove standing or  1. For you to sell you house for less than it is worth because some Imposter or Fictitious

Payee (legal terms from every state's governing statute the UCC) has given you false authorization" that everything will be cool if you just sell you house and give all of the money to them.  No one can give you permission to Short Sale your home except the one and only Holder in Due Course who has proven that it has an Injury in Fact. Other than that this Servicer Gone Wild has just stolen your home at 100% profit.  I have seen more fraud myself than just a handful of people around the country. The only way they can get away with it is if you do not go to court and Challenge the Constitutional Standing of the foreclosing party

Deed in Lieu of foreclosure is the same garbage.  "We give you the permission to just sign your Deed over to us and that will be the end of this matter" says Wells Fargo.  Well, tell your kids that they have to change schools, Get a moving truck you can't afford and go move into an apartment that you will not qualify to rent because you just ruined your credit.

Why do I say you have just ruined your credit?  Because to the 3 big credit bureaus there isn't a lick of difference between the credit hit of a foreclosure, deed in lieu, and a short sale. Do you think that they can't recognize that a short sale or deed in lieu aren't created by the stress of a default?

I know that you know that I could go on about this subject passionately for hours, but actually I think it is so sad that I should just stop soon.

When I hear the term Short Sale my mind goes immediately to the stories my clients have told me about buyers sent over by dimwitted realtors trouncing through their homes discussing the "great deal" they are getting because of the crisis the owners find themselves in.  They will do this right in front of their children. Clients have told me that these home viewer trolls will ask them if they know if the bank will take an even lower offer?

The Short Sale is not much different from Bullying.  I have always hated bullys. I have taken three homes straight out of the Short Sale through the Danny Hammond version of stopping bullys.  I am proud of that.

I recently attended a seminar (for research purposes only) where this young turk described his old days as a mortgage broker and becoming stupid (yep) rich then losing everything in the crash.

The crowd which might have been as high as 400 people appeared to be just good people from all careers looking to make enough money to become independent.  The guru promised that everyone (everyone?) could become rich working 2-3 hours a day flipping short sales (what the hell does that really mean?). He talked about the changes in his life including religion. I am not disparaging religion, but I am disgusted with a faulty pitch which is stirred with religion.

When he concluded I found that I could not stop myself from approaching him and asking him how he could jump right back in to ruining the lives of fellow American families.  You see what he was pitching was that you could be instantly rich if you paid him $297 to go to St. Louis and participate in his 2 day workshop. Look up Sociopath in the dictionary.      

The End  by Danny Hammond
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