My home is in foreclosure. The mortgage was originally with Chase until it was assigned 2 weeks ago to Wells Fargo, as Trustee.for Wamu Mortgage Pass-Through Certificates """". Should I be speaking to Chase or Wells Fargo?
There is no "bank" that owns your loan, as it has been "securitized".
In your case the "bank" is merely a debt collector (mortgage servicer) who has been given complete autonomy to conduct the foreclosure process for either a disclosed or undisclosed business securitized trust in which the rights to receive your mo thy mortgage payment were sold in the form if bonds to large institutional investors.
So you would need to contact the latest cockroach debt collector mortgage servicer, but beware the servicer gets paid if the house forecloses so don't expect any help from these people. This is the reason why you read so many stories about the run around people get when trying to modify their loan. The "bank" does not own your loan so they could care less if it forecloses, worse yet the servicer has an incentive to liquidate your home
Just an FYI
Glenn F.Russell, Jr., Esq licensed in MA and CTSee question
I negotiated on a condo (short sale) in Salem Massachusetts but it went into foreclosure and we lost the deal. I was browsing the auction sites today (Thursday) and found out it is up for auction Monday! The broker had assured me there were no lie...
If the tenant hires me to defend him or her, it will be very difficult for you to evict the tenant
Just an FYI, I have a pretty decent track record, and you can research that fact by looking at a few cases of mine starting with US Bank v. IbanezSee question
I went under the cook county recorder of deeds and there is a document that is dated 11/30/11 document type assignment (Grantor mortgage electronic registration systems) and (Grantee Deutsche Bank National Trust). When I looked up the Min# for thi...
MERS does not actually make electronic assignments, in theory the MERS System "tracks" purported off record sales of the beneficial interest in the borroer,s promissory note.
Additionally there is only one MIN (MERS IDentification NUmber) for a mortgage..sounds to me as though you probably have more than one mortgage on the property.
For instance when you took the loan out did you do a "80-20" whereby you took out a second loan?
That is what it is sounding like to me.
You need to challenge MERS standing to make any assignment as they can only act as nominee for one of their active dues paying members (see MERS Rule 1)
YOu also need to find an attorney who understands mortgage securitization, only a handful in the cow try)
THis is a trust that is foreclosing therefore it must strictly follow it's terms
Aia wish you the best of luck
A Glenn F. Russell, Jr., Esq. Licensed in MAssachusetts and Connecticut nySee question
our banck made a huge mistake with our loan modification they addmitted they were in the wrong and have been for months trying to put us back were we were in the mod, the day before a sceduled auction they told us to celibrate that we were approve...
As discussed by a previous poster, you need an attorney who specializes in foreclosure defense, but unfortunately there are only a true handful of practitioners who actually grasp the concept completely
If you loan was not taken out from a local comunnity bank or creditunion, one of the first things that you need to understand is that there is no "bank" or "mortgage company" that owns the right to your loan, as it has been "securitized"
Because you loan was "securitized" (sold as a derivative security) in the form of an investment or bond sold to a large institutional investor, in which that investor bought the rights to the monthly principal and interest payments in the particular pool of loans in the trust that your loan is in (including yours).
Its basically a ponzi scheme in which the originating lender originates your loan, (using warehouse lines of credit), then sells your loan into an SPV or SPE, in which ultimately the money supplied by the investors of the bonds is retured to the parties in the securitization trust, whereby the originator pays off the warehouse line of credit, and keeps what is left over. Moreover the Originator many times bargains for the rights to continue to "service" your loan, which means they perform all of the billing and foreclosure processes associated with the loans in the particular securitized pool of mortgages.
he purposeful obfuscation is that you the borrower are led to believe the entity that originated your loan stiil "owns" your loan, which is a lie.
The reason for all of the above, is to put into proper context the reason why loan servicers (no longer the :lender"0 play games with modifications, because the servicer gets paid if the home forecloses, and the servicer could care less about any loss, because the servicer does not own the loan
From what I read in your post, tells me the home was sold, so you first need to undo the auction based upon a challenge to standing.
I wish you the best of luck
Attorney Glenn F. Russell, Jr.
Licensed only in Massachusetts and Connnecticut
I do in fact owe this old credit card debt but am unable to pay due to basic monthly living expenses along with extensive medical bills related to two on-going medical conditions. When I appear tomorrow for the hearing and plead guilty, can I the...
You should challenge their "standing" I guarantee that these people do not "own" the debt,or if soit was [ushased for pennies credit card debt was "securitized".
Also challenge themas a non-real party in interest under Rule17..
Best of luckSee question
We found a renting property from online. When the property was shown by the listing agent, it is in a poor condition (applicants are not function and house is messy). The agent said it should be all fixed when we move in. He asked for a month...
I'm not entirely sure what your reference is to an"unfunction" home. However, if the conditions are as bad as you describe the residence may not be legally "habitable" or even compliant with local housing code requirements.
Unless there is no other housing or unless this is the only rental in your price range, I would look at other properties
Additionally, you may want to put a call into your local city hall to discuss your concerns about the habitability of this residence. As far as the deposit, there are strict requirements in massachusets that require that the deposit be placed in an escrow account if it is for a security deposit
I wish you luck
Glenn F. Russell, Jr., Esq.See question
is it legal in MA for same law firm to foreclose on the house and then perform an auction for the same house?
i could only imagine one entity that fits the description you gave, its name is the first name of a very famous home fun hitter for the Minnesota Twins a long time ago
You would think that's a conflict, but this same entity also owns a title company ans has signatory authority to assign mortgages to clients it performs foreclosure prosecutions for...the long answer would be yes, but apparently no one has seemed to care at this point, however Id bring this to someone's attention
i believe a day of reckoning awaits this entitySee question
My landlord is selling to house ( a two family) that I and a friend are renting an apartment in. We have no objection to having realtors come in and show the place, with notice. What is bothering me is that some of these realtors have keys to th...
They would be premitted to enter with reasonable notice to you, however when they enter without notice they are trespassing, and potential engaged in a constructive breaking an entering.
You are paying rent, and while still a tenant you have the exclusive right to the interior of your arartment.
Explain this to your "friendly" Realtor, or contact me, and I will explain it him/her that under no uncertain terms will he/she EVER show up in your apartment ever again.
Glenn F. Russell, Jr.
Law Office of Glenn F. Jr.
38 Rock Street, Suite #12
Fall Rive, MA 02720
Tenants are month to month past 6-8 months by default and apartment has been rented about 4 years. Dirt is primarily dog hair
I agree with my brothers comments, who answered previously.
I would like to reiterate that keeping a tenants security deposit (or any part thereof) is for DAMAGE to the premises, not cleaning.
In light of Massachusetts Court views toward the tenant's rights to the return of their security deposit, unless the carpets are extremely filthy, bordering on needing to be replaced, best practice would be to just chalk it up to a bad experience and move on.
Law Office of Glenn F. Russell, Jr.
38 Rock Street, Suite #12
Fall River, MA 02720
My rental house which is occpied by a tenant and located in Southern California, will go into foreclosure. I stopped paying the mortgage 4 months ago. How and when do I notify the tenants to move? What do I say? My tenant signed a 2 year lease w...
I am not licensed in California (yet), however if this publication is correct
http://www.cdcba.org/pdfs/R2008/08-08-2008.pdf, your tenants would be granted 60 days to find a new place to live.
When a landlord is foreclosed upon, in some states (like Massachusetts) tenants are allowed to what is known as "attorn" (recognize) the new landlord (if he or she or it) wanted to maintain the premises as a rental.
Most times this is not what happens. When the rental property is foreclosed the existing leases are extinguished, unless the new landlord and tenants can agree otherwise,
if not a lease is usually converted to an "at-will" tenancy (usually month to month). In these type leases the tenant usually has to be given a 30day notice to vacte, california passed legislation (according to the linked document above) last July extending this time frame to 60 days.
Therefore, your liability for the tenants SHOULD be zero, based upon this reasoning, however best practice would be to consult a California licensed attorney.
Hope this helps