Pittsburgh Legal Newslog:Obama Floats Trial Balloon to Stay All Residential Foreclosures Pending HAMP Modification Review.
Under this proposal, all residential mortgages in default would be screened to determine whether they could be modified under HAMP guidelines before foreclosure would be permitted to proceed.
Pittsburgh Legal Newslog: Treasury Offers to Subsidize Qualified Short Sales Under New Guidelines.
Posted by Cliff Tuttle
DSNews.com Daily Dose, December 29, 2009.
Mortgage Foreclosure: Beware of Mortgage Servicers’ Tricks and Dodges.
The short answer is that there is a breach of contract by the servicer. The servicer made a deal, then refused to honor it. In such a situation is absolutely imperative for the borrower to get the matter before a judge in a context where the court can grant relief to the borrower. How that happens will vary from state to state. However, the homeowner cannot do it alone. An experienced lawyer (experienced in this field of the law) is required. And yes, if you can afford to pay under a reasonable workout plan and have equity in the property, you can afford a lawyer. The alternative is to lose the house. Do it and don’t wait.
Looking For Errors and Finding Them: One Judge’s Experience With Mortgage Foreclosure.
Posted by Cliff Tuttle (c) 2009
The New York Times ran an article today that should be instructive to people who wonder why there is so much controversy over mortgage foreclosures.
Judge Arthur M. Schack frequently dismisses mortgage foreclosure petitions on his own motion because the pleadings are just not right. Every one of the defects mentioned [...]
Washington County PA Adopts Mortgage Foreclosure Diversion Program
Nevertheless, it is hard for PLBT to see how lenders will be motivated to do much more than wait out the 90 day moratorium without a mediator who has the power to hold their feet to the fire. Perhaps Southwestern Legal Services, who is administering the program, has some ideas on the subject. Southwestern told the O-R that it had discussed the subject with judges in Greene and Somerset Counties, who showed interest and that it hopes to introduce the program into Fayette County next year. PLBT will follow the diversion program in Washington and any other Pennsylvania Counties who adopt a similar program and report on developments.
Mortgage Foreclosure: The MERS factor.
But what is a “nominee” under the law? MERS doesn’t own the mortgage. It was simply named, for convenience, in place of the true owner. So then, why is MERS so often the named Plaintiff in mortgage foreclosures?
Will the Federal Mortgage Modification Guidelines Change the Game?
As the Allegheny County Court of Common Pleas begins mediating mortgage foreclosures, the federal guidelines may provide a means for accelerating the resolution of local cases. Home lenders who receive bailout funds should come prepared to make offers consistent with the guidelines. Having a tangible, enforceable standard to measure lender compliance should make a great deal of difference in the mediation process.
One Person . . . One of a Kind . . . a Force.
April Charney specializes in the rare legal field of mortgage foreclosure defense. Mortgage foreclosure has long been considered an area of the law where there is no defense. The law in this field has been summarized to millions of new borrowers by millions of mortgage loan closers in four words: “You pay, you stay!” But never underestimate an ingenious lawyer and Ms. Charney is one.
She has been a driving force in the development of various defenses that have, at least for the present, been giving fits to lawyers for the mortgage securitization industry. Lawyers, judges, regulators and finally legislators are starting to see old issues in a new light. Through seminars, consumer organizations and the internet, Ms Charney has shared these emerging ideas with other lawyers around the country.
Allegheny County Mortgage Foreclosure Mediation Begins: A Shift in the Balance of Power.
That won’t be happening anymore. The lender’s representative is now required to explain himself before a judge. The power equation has shifted. The judge has the power to refuse to permit the foreclosure to proceed. If he hears about a case going to foreclosure despite a forbearance agreement, he can right that wrong. If he hears that a borrower can make payments under a reasonable plan, he has the power to make it so.
Mortgage Foreclosure: Allegheny County Common Pleas Court Will Announce the Inception of its Much-Awaited Owner-occupied Residential Mortgage Foreclosure Mediation Program Soon.
The Allegheny County Common Pleas Court is working out the last technical details for implementation of a much anticipated mortgage foreclosure conciliation program. After a meeting this week with Allegheny County officials, President Judge Joseph James expects to sign the order of court launching the program on Friday.
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CLIFF TUTTLE has been a Pennsylvania lawyer for over 36 years and (inter alia) is a real estate litigator and legal writer. The posts in this blog are intended to provide general information about legal topics of interest to lawyers and consumers with a Pittsburgh and Western Pennsylvania focus. However, this information does not constitute legal advice and there is no lawyer-client relationship created when you read this blog. You are encouraged to leave comments but be aware that posted comments can be read by others. If you wish to contact me in privacy, please use the Contact Form located immediately below this message. I will reply promptly and in strict confidence.
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