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Steven Navaro

Steven Navaro’s Answers

99 total


  • Am I responsible to pay the extension fee of 375.00 when it is the lender that is causing the delays?

    My lender has caused me to go into an extension which has cost me 375.00 because of failure to request required documents until the very last minute. The lender waits for each item before asking for the next and it has caused such delays that I am...

    Steven’s Answer

    The extension fee is generally charged to continue your loan application on the same rate and terms. If the market has improved, and rates or points are lower, you want to start over with a different lender. I know that this sounds like a hassle, but your lender is dragging its feet for a reason, and it is unlikely another extension would help matters. You might want to speak to your landlord about letting you hold over on a month to month basis until you can get loan approval and close on your loan, hopefully with a lender who is easier to work with. Also, the lender might be motivated to push the loan through if they know that you may pull the file and move to another lender. Finally, you already know what another lender is going to ask for, so have all your documents lined up when you apply. I hope that this all works out for you.

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  • I have an apartment in the basement of my home that I rent. I have not received rent from the tenant.

    I am going through a mortgage modification program and they have put me on a trial payment plan. If I do not stick to the plan they will start immediate foreclosure. Since I have not received the rent money I can pay the mortgage, however I will...

    Steven’s Answer

    If you have a lease with your basement tenant, then she obviously has broken the terms of the lease, and you can start eviction proceedings through the courts. Most states have expedited hearings for eviction cases, which means that you can have her out in a relatively short period of time. In the meantime, make your mortgage payment, and call the utility company to see if you can pay late. Most utility companies will not shut off the power or heat if one month is missed, especially in the winter months. It usually takes 2-3 months delinquency before that happens. They may even work out a payment plan with you to get you through these tough times.
    We have all had to deal with loony tenants, but your tenant sounds downright scary. Let the law take care of her.

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  • Do I have a case for wrongful foreclosure based on "standing" if assigned trust can't prove they had timely endorsed note?

    "note" Proof of claim filed in bankruptcy (7) 2010, was unendorsed. Lender went debunked in 7/2008. Foreclosure in 10/2012. Now suddenly "note" has stamped blank endorsement, from Michele Soleinjoiner who worked in 2007 but denies ever stamping ...

    Steven’s Answer

    You may wish to read my article on Avvo regarding foreclosure defenses and what works and what doesn't. However, it does sound as if something fishy is going on. I would highly recommend hiring a good foreclosure defense attorney in GA who is knowledgeable about securitization, the role of MERS and the issue of standing. Generally speaking, a Borrower does not have standing to claim a violation of a PSA (pooling and servicing agreement) between a lender and the trustee of the trust). However, there are other arguments that could be raised upon review of the documents.

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  • I fell behind of mortgage with Bank of America. How can I get them to respond back since they are ignoring my calls to them?

    I fell behind and am just about caught up. I call and call and leave messages but no one calls me back. I am nervous that even though I am caught up they will try to take my house. I even emailed the president of the company.

    Steven’s Answer

    Check your PA Attorney General's website. Bank of America was part of a class action settlement of $25 billion that was settled in APril. As part of the settlement, they have a hotline for borrowers to call who are in trouble with their mortgages, and are required to work out things with these borrowers. The deadline is January 13, 2013, so you need to file a claim before then.
    Here is the link: http://www.attorneygeneral.gov/press.aspx?id=6429

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  • I have been struggling to keep my home. If my house is not worth what the loan is can I legally do anything.

    Does the bank have to lower to the mount my house is now worth.

    Steven’s Answer

    You may benefit as part of a class action settlement reached with the 5 biggest lenders and the attorney generals of 49 states. Please review what the WV attorney general can do to help you if your loan is with CitMortgage, Wells Fargo, Chase, Bank of America or GMAC/Ally. here is the web site that you should review. http://www.wvago.gov/press.cfm These lenders are required to assist homeowners that are upside down in their loans. If you qualify, this may be your best bet until the market recovers. I wish you good luck.

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  • Owner sent 60-Day Notice to re-occupy his condo. Notice says 60-day or less. Moving in less, won't give back security deposit?

    I signed a one year lease (ends 12-31-12) on a condo with the owner. He has decided to reoccupy the property, and sent me a 60-Day notice on Oct. 31st that states: "...is hereby terminated 60 days from the date this is served on you, to wit, on J...

    Steven’s Answer

    It sounds to me like the landlord is trying to let you know that your lease will not be renewed when it expires. You need to plan on paying rent through December, and you can stay there through December 31st. Call the landlord to make sure what your mutual understanding is. He may be open to having you leave on December 1st if he can move in quicker, but he is under no obligation to do that. Leave the place in good shape, and do a final walkthrough with him at the end of December and you should be good.

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  • Is a quiet title a good way to get the mortgage company to produce my note?

    It has been transferred so many times that I don't believe that they have the original note anymore. I say this on 60 minutes last year involving Bank of America and they said people may pay their mortgage to a lander that they may not even owe. ...

    Steven’s Answer

    If you are not in foreclosure, I believe that a quiet title action may help you to force the servicer's hand to disclose the true owner of the Note and Mortgage, but it may be overkill. Review your original loan documents. If MERS was involved as a nominee, then look for the MERS account number on the Note, then call them to learn the true holder of your Note and DOT. BofA ended up with a lot of bad loans through merger and acquisition, and it is entirely possible that yours is one of those, particularly if the loan was sold into a mortgage backed security.
    As a secondary note, Bof A settled with the Feds and many state attorney generals, and you may the ability to refinance your home at a good interest rate as part of that settlement. However, the deadline for doing anything is Jan 13, 2013, so check with your attorney general's website to see if they participated in that settlement. Finally, pursuant to RESPA, you have the right to make a QWR (qualified written request) to your servicer demanding that they disclose the name of the holder of your Note and Mortage. Follow the rules closely and send off that request. If done properly, there are penalties if the servicer does not comply.
    All in all, this is not an area that I recommend venturing into without the aid of a qualified real estate attorney who is experienced in dealing with these types of issues (MERS, standing, securitization trusts with pooling and servicing agreements). There should be one in PA who can guide you on this. You may also wish to read my legal guide on foreclosure defense pitfalls. While it only applies to CO, and you are not in foreclosure, you may find it helpful.

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  • NC Realestate Question

    I sold a home I inherited to son & DIL cheap, cause it needed work and the economy was bad. The agreement we had was they would live in it, fix it up and "flip" it when the market got better. Instead? They got their hands on it, turned it into a r...

    Steven’s Answer

    Unfortunately, if your sales agreement with your son and his wife made no mention that it would not be owner occupied, then you cannot prohibit them from renting it. However, if the terms of your loan were that it would be made as their primary residence, then you may have some recourse. I think your first move should be to discuss this matter with your son, and explain the reason why you sold the home to him and see if you can work something out. You may wish to consult a lawyer to review your sales agreement and loan documents to see if you have any viable avenue to pursue. Maybe they can refinance to pay off your loan. You may also want to check with your accountant to determine the tax ramifications of a zero interest loan, as the IRS may impute interest to you even though you are not receiving interest. Good luck on this.

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  • How do we verify that a law firm truly represents a party?

    We are disputing the ownership of a real property. The party (we'll call them "A") that holds record title right now originally did not answer or make an 1.140(b) motion to dismiss, and we moved for entry of default. Recently, a law firm has mad...

    Steven’s Answer

    Call the attorney and ask him. In some states an attorney can represent a client "in a limited capacity", but even then, they must disclose their role and relationship to the party to the Court.

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  • Can I sue the HOA for preventing a home sale?

    I am currently renting a home (1 1/2 years without any issues). I put an offer on the home that I am renting, the current owner and I could not come to an agreement on a negotiated offer so I declined the counter offer. There was a comparable ho...

    Steven’s Answer

    This is an unusual question. When you purchase a home that is governed by HOA covenants and restrictions, you should be aware of whether or not those restrictions and covenants will be a deal breaker before you complete the purchase. In this case, it sounds like you are asking the HOA to add a fence where none currently exists. Unless you own the ground that the fence will be built on, it is common ownership land and would need the approval of the HOA.
    I am not sure why the Seller of the home would want to block a sale of his own home, but if the facts are as presented, I would discuss with him what his concerns are, so that you can eliminate his objection to the fence. Tortious interference with contract is a legal claim whereby a 3rd party interferes with the contractual rights of one or more of the parties to the contract. Here, the Seller is using his authority as a HOA Board member to thwart his own contract, so I am not sure that it would apply.
    Again, best bet is to discuss what issues there are with your fence proposal and work with that, or move on.

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