Heath's Blog

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Facing Foreclosure? This is a MUST watch video from CNN!

If you or someone you know (like a past client) is facing foreclosure, you must watch this video.  http://www.youtube.com/watch?v=YUZdANb6UaY  It is a CNN report that has been around since last year!  The more I look for information the more I am amazed!  If the banks are going to keep the TARP money, try to keep your house!

In another news report FROM THIS YEAR, a US congress woman is seen on the floor of the House advising giving advice to Americans who are facing foreclosure.  She has advised people to ask the foreclosing entity, or better still to have an attorney ask the foreclosing entity, to produce the note that says who has the right to foreclose.

I have been studying the mortgage problem in the country.  Learning about MERS, and the 1968 case of Jerome Dalyare two things to read about if you are facing foreclosure.  These are available publicly by simple searches, and I have also included some links below. 

People are stopping the foreclosure of their homes by requesting that the foreclosing entity produce the original note.  Almost 1/2 the time they can't.  That is worth a try.  At least it may help cause negotiations for a better solution for both you and the lender.

Jerome Daly is a completely different bit of entertainment that is apparently still unresolved from 1968.  I am amazed that his legal case did not change how banks, mortgages, and loans were done up to now!  His case is jaw dropping.  One of the concepts it causes to be stated is, "If I let you do that -- you and everyone else -- it would bring the whole system down."  Well, the system is already down in many ways.

There is a website that has lots of free information and many videos.  It is worth your time if you are facing foreclosure.  It is consumerwarningnetwork.com.

Happy Listing and Selling!

foreclosurefish.com/blog/index.php?id=439  (Jerome Daly info)

activerain.com/blogsview/525644/More-Foreclosure-stuff-MERS-Mystery  (MERS info)

http://www.youtube.com/watch?v=YUZdANb6UaY  (one CNN report)

Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / capegroup@capegroup.com
508-274-5613  Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup  Skype: heath.coker

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James Heath Coker | Create Your Badge

Comments

Hey Heath...  I've heard that "produce the note" story before, but I've not seen any attorneys weigh in on it yet.  It's an incredible notion to be coming out of a Congresswoman's mouth, tho!  Nice info.

Randy Hooker - Dreamcatcher Realty - Arizona Real Estate

Posted by Randy Hooker, Gilbert, Chandler, Mesa, Queen Creek (Dreamcatcher Realty / Greater Phoenix Area) almost 12 years ago

Heath, this is great information to have, especially in this day and age.  Anything that can help the consumer.  I have bookmarked this one for future reference.  Thanks.

Posted by Troy Erickson AZ Realtor (602) 295-6807, Your Chandler, Ahwatukee, and East Valley Realtor (Good Company Real Estate) almost 12 years ago

I have seen it in many places, but we should see more of it if the press will pick it up.  Unfortunately, banks advertise in newspapers still.

Posted by Associate Broker Falmouth MA Cape Cod Heath Coker, Heath Coker Robert Paul Properties Falmouth MA (http://www.CapeGroup.com & http://www.REindex.com) almost 12 years ago

Hi Heath, Thanks for the great information!  Great post!

Posted by Sandy Shores FL Realtor®, Melbourne Real Estate, Brevard County Real Estate, Florida's Space Coast (M & M Realty of Brevard Inc.) almost 12 years ago

Thanks Heath...information is power.

I believe we, as an industry, owe it to our consumers to assist whenever and however possible.

Thanks again,

Dominick

Posted by Dominick Dina, MA, REALTOR®, GRI, e-PRO, TAHS, SFR, Notary Public (Christian Realty San Antonio) almost 12 years ago

This approach won't work for everyone, but it is one more option.

Posted by Associate Broker Falmouth MA Cape Cod Heath Coker, Heath Coker Robert Paul Properties Falmouth MA (http://www.CapeGroup.com & http://www.REindex.com) almost 12 years ago

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