Replies to This Discussion

Permalink Reply by Jerry Robertson on October 18, 2013 at 1:38am

If you were in GA I would say your next step is 'back'. Step back and refer them to an attorney. Sounds like they have bigger problems than trying to do a short sale.

Permalink Reply by joe beauchamp on October 18, 2013 at 1:44am

Chase is one of the top banks to illegally handle loans and robo-sign things. They probably securitized the loan and ignored laws so want the HO to sign new documents which supersede their actions. A Bloomberg audit, etc. would probably give proof of their actions. HO could probably then do a quiet title because Chase could not prove ownership of the mortgage and thus not foreclose (so, HO signing new papers means that they could prove it because then could show the new signed papers). One place to learn some more loanaudits.tumblr.com - you start by sending a certified letter QWR - they have 60 days to answer. The QWR asks questions about what they did with the loan.

I'd also complain to the OCC about them refusing to accept a sale for more than they are asking.

I don't know what to say about HUD - sometimes it is because you get the front line of nimrods that answer the phone, sometimes it is because of real pinhead HUD rules.

Permalink Reply by Bruce Dennis on October 18, 2013 at 2:08am

First I would make sure that I have a valid listing agreement in case a short sale is eventually possible. As soon as possible I would refer them to an attorney to protect their interests. This may be the bargaining chip necessary for them to approve the short sale. This could potentially open a larger can of worms since HUD may want the lender to buyback the loan or  there may be other issues present that a competent attorney could argue that would place the homeowners in a better financial situation. Either way when there is a notice of pending action (Lis Pendens), unless you are an attorney, your only advice to the homeowner should be to seek legal advice.

Permalink Reply by Donna Quanrud on October 18, 2013 at 2:30am

Your client needs to go back to either their BK attorney and/or find a foreclosure defense attorney.  Chase doesn't seem to have the paperwork to legally take the house so they are asking to have it created to steal the house back.  Check out this website:  http://livinglies.wordpress.com/  - they can probably help refer you to an attorney.

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on October 18, 2013 at 4:13am

It seems to me that Chase is likely on shaky ground and may not have proper documentation on this note.  If it were me, I would make sure the HO does not sign anything and engages an attorney ASAP to review all communication and documentation to / from Chase.

Permalink Reply by joe beauchamp on October 18, 2013 at 6:11am

Having a property that Carrington screwed over, I am familiar with some of the pluses and minuses. There are companies which will do the audit research for a lot less than an attorney, but you want an attorney to file the quiet title. The quiet title does not seem to remove the debt, just the mortgage from the bank (from what I see). This doesn't help in selling the place, in my opinion, but does stop foreclosure and with a BK in there, suggests that once done, the homeowner can continue to live in the property forever w/o worrying about foreclosure (or rent it). Supposedly, banks will bargain for what is owed when confronted with their wrongdoing in court. Of course, knowing that lawyers are expensive, banks will do what Chase is doing, fool you into signing things that make it harder or impossible to go back later to complain. My point is that if the homeowner wants to stay or rent and hold, it is probably worth going down the path of QWR/audit/quiet title, possibly followed by suit to get something back from the bank. (As in robo-signing way after the fact - judges have awarded homeowners all the money paid during the period that the servicer had not properly declared that they are the servicer. In my case, that was from 2007 until 2012.)