I have mortgage note that has a stamp on a separate piece of paper the has no date and doesn't list a person / entity to "pay without recourse" Does it have to have a date and a named payor?
This is what is known as an indorse meant in blank (yes it's correctly spelled with an I when referring to a negotiable instrument)
This is also known as "bearer parapet" which means that anyone in physical possession (bearing) the now may cash it
However if there is then identified a specific payee, it becomes "specifically informed to the named payee only
These rules are governed by the uniform commercial code at article III and codified in almost every state by statuteSee question
The company has done everything from harassing calls, to threatening me, to giving me all sorts of unnecessary fines. I'd like to pay off what I owe to get rid of them for good. But I'm afraid that they will come back after me. When I called for t...
Apparently the posters below didn't want to take the time to answer your question, opting to chide you instead, about seeking a lawyer on this site, which Lynn is not exactly correct on that score.
That said, I am only licensed in Massachusetts and Connecticut, and therefore I could not provide you "advice" even if I wanted to, and therefore anything I say s just opinions which you are free to ignore, as you are not a client. However, there are really only a very few (comparatively speaking) lawyers who understand this area of the law, and fewer that actually practice it. There ARE however many folks who are very willing to take your money , so beware.
Greentree is a "mortgage servicer", which means that they are not your "lender" nor are they a bank, Greentree is no more than a bloodthirsty cockroach bill collector that has a monetary incentive to ensure that the house is foreclosed on, as that is how they get paid,.Once you understand this fact, their actions of ignoring you and not getting back to you make much more sense in that context. Anther thing to be ware of is the fact that thee crooks set up "suspense accts, which means that when you send in what you think is you mortgage payment, they do not apply the entire total to your payment, for example lets say that you have a $1500 mtge payment, and you have missed some months, these crooks have added fees and the like on to the acct, maybe even placing you into "force place" insurance, and or paying property taxes, even where you never had an escrow acct., So in our example, when you make the $1500 pymnt, these crooks first skim money off he top for these charges, then apply what ever is left over to the oldest outstanding payment first. However they cannot apply a mortgage payment unless it is for the full contract rate, so where they have skimmed money off, the place the remainder in a suspense acct, until there is enough for a full payment. Of course what ends up happening s that even though you pay each month, yo fall further and further behind, as this process is set up to take your house. You really do not have a lot of options, however i would still attempt to work with these criminals, and make sure that you keep a journal for all contact with Greentree, time you called, who you spoke to, etc. You can also challenge that these people have no legal right to enforce your mortgage as they do not legally own your loan, which is the basis of my entire practice in Massachusetts, where I have had some success, although this is a extremely difficult argument that could also be quite costly. However, I have won 4 appeals on this issue, 3 at the Supreme Judicial Court of Massachusetts (U.S. Bank v. Ibanez, 458 Mass. 637 (2011) (Galiastro v. MERS 467 Mass. 160 (2014) , HSBC Bank USA v. Jodi B. Matt 464 Mass. 193 (2013), and one appeal at the US Court of Appeals for the 1st Circuit, Juarez v. Select Portfolio Servicing,
in ALL of those cases i did not receive any money. So there are a few folks out there with the right objective, but be very careful as to who you hire...Best of luck to you, GlennSee question
I have gotten the runaround and every excuse Under the Sun by Wells Fargo. Recently Wells has disclosed private information about my loan and my payment history to a third party that was not authorized.I still do not have a modification approved a...
First off, Wells Fargo is not acting in any capacity as any "lender" or any with any of its own monies at stake that was "lent".
In fact WF is currently in the role of nothing more than a "bill collector" (cockroach) mortgage servicer.
While I am not licensed in California, and therefore can not provide you any legal advice, you may want to check in with a California licensed attorney, and put a request in to the WF Cockroach bill collector under 15 USC 1641(f)(2), demanding the identity of the real owner" of your loan
Wish you the best
Glenn F. Russell, Jr.See question
I bought a house from bank of america in Feb 2012. Bank of america gave me a warranty deed in my name. A year later I tried selling my home and the buyers closing attorney found out the property had 2 open loans on it from a previous owner back in...
While having an owners title insurance policy probably is better than not having one, just because you have an "Owner's policy" won't magically put humpty dumpty back together again.
An owner's title policy is a policy of "indemnity" not insurance and therefore most times the title ins co will try to "resolve" the issue, and can tell you that's "good enough"
IF THE FACTS ARE AS YOU STATE, YOU ABOSULETLY HAVE AN AFFIRMATIVE ACTION AS AGAINST BofA for selling property without marketable title. You may even find an attorney willing to take the matter on "contingency"
I wish you the best of luck
I've contacted lawyers And realtors, still no Luck....
If your loan was not taken out with a local bank or credit union there Is no longer any bank involved with the ownership of your loan as it most likely is securitized
If the loan was actually owned bya bank it would have been foreclosed long ago
It would cost money but you could legally challenge their ownership of the mortgage and note, which may have you re think keeping the home without any mortgage on it
Best of luck
Glenn F Russell Jr,licensed in Massachusetts and Connecticut
We have an H.O.A. foreclosure on an investor home. Does the previous owner have a right of redemption to get the property back. this is in Nevada. Thanks.
As I am only licensed in Massachusetts and Connecticut, I defer to the Nevada attorneys opinion, however I have a slightly different perspective.
If you challenged the "standing" (party claiming a legal right or interest) in the entity that foreclosed, I still believe you could bring a wrongful foreclosure action based upon the party claiming to have rights as a "mortgagee", when in fact they lack such rights. It would involve research by a competent person (very few), and litigation of the same (could be costly)
This would only hold true if the mortgage was originally taken out by a mortgage broker, or large national bank, as loans from local banks and credit unions usually are still owned by thosde insitutions
Hope that helps
Glenn F. Russell, Jr.See question
A lady that I know, her home was foreclosed on and she said that the lean holder which is the bank bought it back. Well she wants to lease the property to me bc she is fighting in court about her rights of the home bc of her rights, she said she h...
Attorney Sadegh is correct,the person looking to lease the property to you DOES NOT CURRENTLY OWN THE PROPERTY
A a first concern for that party they are committing fraud upon the foreclosing entity, and you if this "lady" accepted money from you to rent the property
Even id this "lady" has a very strong case to undo the foreclosure, until itis proven that she is correct, it is not her property
You should run,not walk, away from this situation
Wish you the best
Glenn F. Russell, Jr.,licensed in Massachusetts and ConnecticutSee question
The fundamental thing to understand is that if your mortgage was not taken out with a local bank or credit union there is no longer a "bank" or "lener" involved with your mortgage.
The only role that the "bank" now occupies is that of a bill collector on behalf of a securitized trust that purportedly owns your loan
Because the entity that foreclosed on your right of redemption "purchased" your property, you could seek to challenge the legality of the foreclosure under the strict requirements of G.L. c. 244 Section 14,however it's a difficult argument at best, and the amount of attorneys who actually understand the process are very few
Unfortunately, there will be an eviction hearing brought against you if. You remain in the property, however you can challenge that the foreclosure was not conducted properly under g.l. C. 244-14,as a challenge to title is an absolute defense to the eviction action see Bank of NY v, Bailey decided by the Mass SJC last year
Glenn F, Russell, Jr.
Licensed in Massachusetts and Rhode Island
i have a limited retirement income, and my home is extremely underwater.
Contrary to Attorney Elben's answer, if the house is foreclosed on and the sale of the house results in a sale price that is less than the total amount of your mortgage the foreclosing entity could possibly seek to sue you personally for any deficiecy
When people think about "walking away" from their mortgage they many times do not consider this possibility
As to your general question, the fact that you inherit money really does not change anything, as they can't attach that inheritance, if that was a concern, the house is what secures the loan, but as discussed above if the value of the house is not enough to cover the amount of the mortgage ( due to the decline in market value of the home) you may face further liability on the deficiency, which possible could be pursued to satisfy any deficiecy
Wish you the best of luck
Glenn F. Russell, Jr. Licensed in Massachusettts and Connecticut onlySee question
If you buy a foreclosure, do you have to pay the lender back this amount of money?
R can speak Attorney CHittuto New YOrk law and procedure better than I because I am only licensed in Massachusetts and Connecticut.
I agree that you are only buying the property, not the Note, thus the auction is held to get the highest possible pric for the property on the hopes today off the NOte (a tough thing to do in today's real estate market)
However if the property was foreclosed on urportedly) by a large national bank, there is no "lender" as the loan has been securitized and sold as an investment whereby large pension funds bought the right to the monthly principal and interest payments from a selected pool of loans
Proving ownership and title to these loans will be difficult at best if competently opposed (for an example refer to a case I won against U.S. Bank and Wells Fargo in a case decided by the Massachusetts Supreme Judicial Court in U.S. Bank v. Ibanez
Personally I wold not go near a foreclosed property in these situations as I believe the title is hopelessly defective
Best of luck
Glenn F. Russell, Jr.See question