Don't let them BS u
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L.Mickelson
- Posts: 79
- Joined: Sun Jan 29, 2006 11:51 am
Don't let them BS u
The economy is getting better? I just let them take my truck away, 2007 GMC 3500 Crew Cab Dually Fully Loaded, now their going after my house, It is all BS. I would love to be able to think about fishing team derby's but yea right. Sorry for the rant. Reality is it isn't getting any better no matter what they tell you. The fall out is still coming after the last 3 years of no profits for big co's i.e.:Wal-Mart and sponsoring FLW. love u all none the less. Thank God for nutcases to help me keep my sanity? Been out of work for 1 year & prospects aren't that good.
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William Pointing
- Posts: 792
- Joined: Thu Oct 26, 2006 1:35 pm
Re: Don't let them BS u
What kind of work do you do?
Re: Don't let them BS u
Re: foreclosure...I hope this info I found helps.
Very important foreclosure information.
This is starting to get interesting, at least for those living in a judicial foreclosure state. (NOTE: Massachusetts is apparently a non-judicial foreclosure state. A reader pointed this out the day after I wrote this article. As a result, this ruling may apply to foreclosures in California.)
Judge Long Massachusetts Foreclosure Decision Throws Securitization Intermediaries into Chaos, REO Sales Stopped
Posted on October 16, 2009 by livinglies
Editor’s Note: Anyone who underestimates the importance of Judge Long’s decision in Massachusetts and the combined effect with the Kansas and Arkansas Supreme Court decisions does so at their peril. Lawyers wake up! You are not just missing an opportunity, you are missing an important piece of due diligence that makes you vulnerable to claims from clients seeking advice.
“Borrowers have a right to know who owns their mortgage, and they have a right to make sure that the entity that is foreclosing has a legal right to foreclose,’’ Cohen said. “For too long these lenders have been ignoring the foreclosure laws.’’
The Boston Globe
Ruling upheld on sale of property
Ownership status of foreclosures clouded
By Jenifer B. McKim
Globe Staff / October 15, 2009
The ownership status of hundreds, and possibly thousands, of foreclosed properties in Massachusetts became muddier yesterday after a state Land Court judge reaffirmed his March decision that invalidated the sales of two Springfield homes because of improper paperwork.
In a 27-page ruling, Justice Keith C. Long described a convoluted process in which mortgages for the two homes were transferred multiple times without being properly recorded, as required by state foreclosure law. He said any problems the banks now face to clean up title questions – which could include redoing the foreclosures altogether – are “entirely of their own making.’’
“The issues in this case are not merely problems with paperwork or a matter of dotting i’s and crossing t’s,’’ Long wrote. “Instead, they lie at the heart of the protections given to homeowners and borrowers by the Massachusetts Legislature.’’
The ruling drew praise and criticism from attorneys, individuals, and housing advocates who had been anxiously awaiting word from the court.
Before the March decision, many lenders believed they could complete foreclosure transactions and later file formal proof they held the mortgages. Since then, however, some lenders have stopped selling foreclosed properties out of fear the sales later could be voided, and many title companies have refused to insure homes with ownership issues. That has affected the ability of communities and nonprofits to buy foreclosed homes in some of the state’s hardest hit areas. It has also made it more difficult for individual buyers and sellers of foreclosed properties to close deals.
The attorneys who filed the lawsuit that prompted Long’s original ruling said they are considering an appeal of yesterday’s decision. “He has thrown the entire nature of foreclosure work and thousands of titles back up in the air and doesn’t seem to care,’’ said Lawrence Scofield, an attorney with Ablitt Law Offices in Woburn, which represented the lenders in three consolidated cases ruled on by Long.
The Springfield lawsuit was filed by foreclosing lenders who said they wanted to remove a “cloud’’ from the titles of three properties created because of where they chose to publish foreclosure auction notices. But Long focused on a secondary issue – whether the foreclosures complied with the law because they did not officially name the mortgage holders.
During the housing boom, millions of mortgages were bundled into bonds and sold to investors, a process that often resulted in a twisted paper trail. Long’s decision detailed how mortgages for two of the Springfield homes changed hands as many as three times without any of the information appearing on the public record. The final owners – US Bank National Association and Wells Fargo Bank – did not record that they owned the mortgages until 14 months after the sales, he said.
Those in favor of the ruling said it will help those fighting foreclosures to find a way to remain in their homes and permit some who have already moved on to regain their homes. Long’s decision also bolsters a growing national movement among housing advocates, and some courts, to push lenders to produce accurate documentation before completing a foreclosure.
Nadine Cohen, managing attorney in the consumer rights unit at Greater Boston Legal Services, said the issues brought up in the case support the need for a state law to mandate that foreclosures of owner-occupied homes be overseen by a judge.
“Borrowers have a right to know who owns their mortgage, and they have a right to make sure that the entity that is foreclosing has a legal right to foreclose,’’ Cohen said. “For too long these lenders have been ignoring the foreclosure laws.’’
Boston attorney Paul Collier, who represented one of the defendants in the Springfield case, Antonio Ibanez, said his client never expected to win back the property he purchased for $115,000 and later lost to foreclosure. He said Ibanez overpaid for the home, which he could not afford. He said Ibanez will likely wait until the appeal process is completed before deciding whether to take any action.
Collier said there probably won’t be a flood of former homeowners fighting to get back their properties as a result of Long’s decision, but there could be enough to create problems for new owners, lenders, title companies, auctioneers, and others involved in the sale of foreclosed properties. “You are going to see a ton of payouts here,’’ he said.
Boston City Housing chief Evelyn Friedman said that although the decision protects homeowners trying to ward off foreclosures, it also is delaying the city’s efforts to clean up areas plagued by abandoned homes. Already, the judge’s March ruling stymied the city’s effort to buy 20 bank-owned properties.
“The unfortunate part is that many people already have been foreclosed upon and now their properties can’t be resold,’’ Friedman said. “That holds up quite a bit of our work in revitalizing the neighborhoods that have been most devastated.’’
Because of the ruling, Developer John O’Riordan said he worries he might now lose an investment property in Jamaica Plain he bought from a bank last year for $480,000 and renovated for $200,000. Now he can’t sell the units because of title issues and has run out of money.
“The real estate situation in Massachusetts is on its knees and this does not help the cause at all,’’ O’Riordan said.
© Copyright 2009 Globe Newspaper Company.
© 2009 NY Times Co.
Very important foreclosure information.
This is starting to get interesting, at least for those living in a judicial foreclosure state. (NOTE: Massachusetts is apparently a non-judicial foreclosure state. A reader pointed this out the day after I wrote this article. As a result, this ruling may apply to foreclosures in California.)
Judge Long Massachusetts Foreclosure Decision Throws Securitization Intermediaries into Chaos, REO Sales Stopped
Posted on October 16, 2009 by livinglies
Editor’s Note: Anyone who underestimates the importance of Judge Long’s decision in Massachusetts and the combined effect with the Kansas and Arkansas Supreme Court decisions does so at their peril. Lawyers wake up! You are not just missing an opportunity, you are missing an important piece of due diligence that makes you vulnerable to claims from clients seeking advice.
“Borrowers have a right to know who owns their mortgage, and they have a right to make sure that the entity that is foreclosing has a legal right to foreclose,’’ Cohen said. “For too long these lenders have been ignoring the foreclosure laws.’’
The Boston Globe
Ruling upheld on sale of property
Ownership status of foreclosures clouded
By Jenifer B. McKim
Globe Staff / October 15, 2009
The ownership status of hundreds, and possibly thousands, of foreclosed properties in Massachusetts became muddier yesterday after a state Land Court judge reaffirmed his March decision that invalidated the sales of two Springfield homes because of improper paperwork.
In a 27-page ruling, Justice Keith C. Long described a convoluted process in which mortgages for the two homes were transferred multiple times without being properly recorded, as required by state foreclosure law. He said any problems the banks now face to clean up title questions – which could include redoing the foreclosures altogether – are “entirely of their own making.’’
“The issues in this case are not merely problems with paperwork or a matter of dotting i’s and crossing t’s,’’ Long wrote. “Instead, they lie at the heart of the protections given to homeowners and borrowers by the Massachusetts Legislature.’’
The ruling drew praise and criticism from attorneys, individuals, and housing advocates who had been anxiously awaiting word from the court.
Before the March decision, many lenders believed they could complete foreclosure transactions and later file formal proof they held the mortgages. Since then, however, some lenders have stopped selling foreclosed properties out of fear the sales later could be voided, and many title companies have refused to insure homes with ownership issues. That has affected the ability of communities and nonprofits to buy foreclosed homes in some of the state’s hardest hit areas. It has also made it more difficult for individual buyers and sellers of foreclosed properties to close deals.
The attorneys who filed the lawsuit that prompted Long’s original ruling said they are considering an appeal of yesterday’s decision. “He has thrown the entire nature of foreclosure work and thousands of titles back up in the air and doesn’t seem to care,’’ said Lawrence Scofield, an attorney with Ablitt Law Offices in Woburn, which represented the lenders in three consolidated cases ruled on by Long.
The Springfield lawsuit was filed by foreclosing lenders who said they wanted to remove a “cloud’’ from the titles of three properties created because of where they chose to publish foreclosure auction notices. But Long focused on a secondary issue – whether the foreclosures complied with the law because they did not officially name the mortgage holders.
During the housing boom, millions of mortgages were bundled into bonds and sold to investors, a process that often resulted in a twisted paper trail. Long’s decision detailed how mortgages for two of the Springfield homes changed hands as many as three times without any of the information appearing on the public record. The final owners – US Bank National Association and Wells Fargo Bank – did not record that they owned the mortgages until 14 months after the sales, he said.
Those in favor of the ruling said it will help those fighting foreclosures to find a way to remain in their homes and permit some who have already moved on to regain their homes. Long’s decision also bolsters a growing national movement among housing advocates, and some courts, to push lenders to produce accurate documentation before completing a foreclosure.
Nadine Cohen, managing attorney in the consumer rights unit at Greater Boston Legal Services, said the issues brought up in the case support the need for a state law to mandate that foreclosures of owner-occupied homes be overseen by a judge.
“Borrowers have a right to know who owns their mortgage, and they have a right to make sure that the entity that is foreclosing has a legal right to foreclose,’’ Cohen said. “For too long these lenders have been ignoring the foreclosure laws.’’
Boston attorney Paul Collier, who represented one of the defendants in the Springfield case, Antonio Ibanez, said his client never expected to win back the property he purchased for $115,000 and later lost to foreclosure. He said Ibanez overpaid for the home, which he could not afford. He said Ibanez will likely wait until the appeal process is completed before deciding whether to take any action.
Collier said there probably won’t be a flood of former homeowners fighting to get back their properties as a result of Long’s decision, but there could be enough to create problems for new owners, lenders, title companies, auctioneers, and others involved in the sale of foreclosed properties. “You are going to see a ton of payouts here,’’ he said.
Boston City Housing chief Evelyn Friedman said that although the decision protects homeowners trying to ward off foreclosures, it also is delaying the city’s efforts to clean up areas plagued by abandoned homes. Already, the judge’s March ruling stymied the city’s effort to buy 20 bank-owned properties.
“The unfortunate part is that many people already have been foreclosed upon and now their properties can’t be resold,’’ Friedman said. “That holds up quite a bit of our work in revitalizing the neighborhoods that have been most devastated.’’
Because of the ruling, Developer John O’Riordan said he worries he might now lose an investment property in Jamaica Plain he bought from a bank last year for $480,000 and renovated for $200,000. Now he can’t sell the units because of title issues and has run out of money.
“The real estate situation in Massachusetts is on its knees and this does not help the cause at all,’’ O’Riordan said.
© Copyright 2009 Globe Newspaper Company.
© 2009 NY Times Co.
John Caulfield
Big Rock Sports- Territory Sales Manager (Norcal)
Freelance Outdoor Writer
Big Rock Sports- Territory Sales Manager (Norcal)
Freelance Outdoor Writer
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L.Mickelson
- Posts: 79
- Joined: Sun Jan 29, 2006 11:51 am
Re: Don't let them BS u
Sorry for the delayed response Bill, I've been a land surveyor for 20 years.
Re: Don't let them BS u
Real sorry for your predicament, and hope it turns around for you soon.
That being said, there are definitely indicators that the recovery has begun. Unfortunately, it took several years to get to this point so that recovery isn't going to happen overnight - cold hard fact. But the outlook is certainly much better than it was six months ago, so it does appear that the bottom has been reached and we are on the upward slope.
Hang in there, keep your chin up, and keep pushing on! It is all you can really do, and hopefully one day soon this will all be a bad distant memory.
Roger
That being said, there are definitely indicators that the recovery has begun. Unfortunately, it took several years to get to this point so that recovery isn't going to happen overnight - cold hard fact. But the outlook is certainly much better than it was six months ago, so it does appear that the bottom has been reached and we are on the upward slope.
Hang in there, keep your chin up, and keep pushing on! It is all you can really do, and hopefully one day soon this will all be a bad distant memory.
Roger
Tight lines forever!
http://www.tunaman.org
*DISCLAIMER* - This post is in no way meant to be offensive. If you feel it is, please re-read then PM me for an explanation if it still offends?
http://www.tunaman.org
*DISCLAIMER* - This post is in no way meant to be offensive. If you feel it is, please re-read then PM me for an explanation if it still offends?
Re: Don't let them BS u
I guess it just depends on what line of work your in. My wife was laid off, the company is hurting and is restructuring. She got up and starting looking for work right away. She had three other job offers in ONE WEEK. She starts her new job tomorrow.
I feel for you and hope things get better for you. You might have to look into other lines of work.
I feel for you and hope things get better for you. You might have to look into other lines of work.
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bassinDerek
- Posts: 100
- Joined: Wed Sep 23, 2009 5:30 pm
Re: Don't let them BS u
hey mickelson do you got like a grey and red ranger? just curious it think i might have seen you at mcclure a few times. but as for the economy i dont see it picking up for atleast 6 years at the least.
FISH TO LIVE LIVE TO FISH
Derek Jantz
Derek Jantz
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L.Mickelson
- Posts: 79
- Joined: Sun Jan 29, 2006 11:51 am
Re: Don't let them BS u
No, I had a blue and white Ranger, sold to survive kinda. I did have an interview with a county entity on Thursday. He told 2 years ago they had an opening and 1 guy applied. 1 year ago 6 guys applied. This year 250 applied, 100 got to test and 32 got interviews. Hopefully something will come of it but it gets a little discouraging when you are selling everything you own and thier taking your stuff away. I think I really need to go fishing.
Re: Don't let them BS u
Here's one of the indicators that the economy is indeed picking up:
http://moneycentral.msn.com/investor/ch ... &CP=0&PT=8
Also, look at housing starts for instance... businesses, especially small ones, lag the leading indicators considerably. That is why the businesses were still doing relatively good when the housing market went into the tank. They will also be slower to recover, just due to the lead/lag effect. They will indeed be pulled up though, and I'd expect surveyor services should be picking up pretty quickly now.
Hang in there and keep the chin up - it is only a matter of time!
Roger
http://moneycentral.msn.com/investor/ch ... &CP=0&PT=8
Also, look at housing starts for instance... businesses, especially small ones, lag the leading indicators considerably. That is why the businesses were still doing relatively good when the housing market went into the tank. They will also be slower to recover, just due to the lead/lag effect. They will indeed be pulled up though, and I'd expect surveyor services should be picking up pretty quickly now.
Hang in there and keep the chin up - it is only a matter of time!
Roger
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