Comment

Comment by Katerina Gasset on April 8, 2010 at 7:29am

Nestor and I and Milet just listened to the BOA webinar also. There was some great confirmation of what I have been saying all along. I will write some posts about it this weekend.

Comment by Katerina Gasset on April 8, 2010 at 7:28am

Ben- This tactic was used a lot in states like CA in the last recession. I am sure you can find lots of proof in those states.

Comment by Katerina Gasset on April 8, 2010 at 7:27am

Ben- I will look for it. You can find out a lot about how bad these banks behave with non judicial extortion at pigsass.org

Comment by Ben Benita on April 7, 2010 at 8:36am

Katerina, was is your "secret" for finding out who the note holder or investor is? We ahve out Sellers send in a Qualifed Written Request "QWR" in banking speak, and it often works.....any other ideas? We of course ask up front if teh note is private, gov. backed or portfolio, the TOUGH part we have found is finding out who teh private investors are.

Comment by Ben Benita on April 7, 2010 at 8:22am

Doyou haev proof of tha tissue in GA where they made the owner pay the diffrence in teh desreased value......I would have advised him to tell the lender to STICK IT....I presume their only recourse would be to foreclose (in which case they wuold lose even more money). If he played his cards right, and bought his investments in LLC's, I would guess teh lender cuold not come after him? Anyway, do you have any further info. on that situation/case, would love to add it to the info. I put out.

Thanks

Comment by Katerina Gasset on April 7, 2010 at 7:17am

The worst part is the banksters lobby here in Florida is sponsoring a state bill in the house and in the senate to get rid of judicial process here! The worst part about non judicial is the abuse by the banks to homeowners. It is just awful. In fact, in Georgia we know a case where an investor owns several properties. He pays his mortgage on time. He is never late. He plans to hold his properties, they are fully rented. But they dropped in value lower than 20% of what the notes are for. Guess what the banks!!!! They pulled a small fine print clause on him- they ordered him to pay the difference - it is 70K- to make their risk less on those properties. Like they don't have enough foreclosures in Georgia???? They do this crap because it is non judicial. THe banks have the right in their notes to do this but here in Florida, they can not foreclose without a court hearing so there the judge would tell them to go to you know where! That would not fly here in Florida. That is the REAL reason the banks want to get rid of judicial process everywhere. They even lie and to get the regular folks to back them they say, don't you have how the abandoned houses look in your neighborhoods? Well, heck, the only bad looking houses in these parts are the one the BANKS OWN! If you are in Florida- call your senators and congressmen-tell them to vote NO on these bills!!!

Comment by Esther M. Camarotte on April 7, 2010 at 7:07am

I have seen disasters in the 7 years I have been doing this and truly feel that all the states should be judicial. There should be a safety net with a judge looking at the facts before foreclosing on someone.

Comment by Katerina Gasset on April 7, 2010 at 6:58am

The seller can find out who the note owner is. We do hundreds of short sales and have yet to have a servicer refuse to give the note owner info to our sellers if they ask the way we tell them to;) and if they just keep calling back until they get the one person who will give that information out. This is SO CRUCIAL to the success of negotiating!

Comment by Katerina Gasset on April 7, 2010 at 6:56am

Esther- 32 states are non judicial. The rest like here in Florida are judicial, thank goodness for our right to our day in court here. The judges here have been very good to the homeowners and we get a long time to negotiate short sales for those in foreclosure.

Comment by Anna on April 7, 2010 at 5:32am

Need attorney in Florida who has successfully negotiated waiver or settlement with BOA. Your references and recommendations highly appreciated!

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