Comments on: New Jersey: In The Matter of Residential Foreclosure Pleadings and Document Irregularities … Show Cause hearing DELAYED and Settlement Conference Sheduled

By: Melanie

Melanie — Thu, 20 Jan 2011 01:50:34 +0000

Nope. A lot of thosehomeowners who “haven’t paid” in a long time could not, because Bank of America or Countrywide called the loans and refused or returned their payments. Others were lured into modification scams that took their money for months and then were taken away, putting them further in the whole.

Others were told they had to default in order to get a modification, but the bank took their modification payments for months, and then called off the modification and demanded an unreasonably high amount for the difference. People may never understand how evil these banksters are until you get on the wrong side of them, because they feed their “deadbeat homeowners” propaganda like pablum through the media to instill the false belief that the economy can not recover until the homes are foreclosed.

Wait and see. They will foreclose, but they will continue with the practice indefinitely for years, and the economy will not get better until they stop squeezing housing.

By: PayYourBillsOrMoveOn

PayYourBillsOrMoveOn — Tue, 18 Jan 2011 18:51:10 +0000

Everyone is looking for scapegoats in this crisis. The economy tanked, jobs were lost and the housing bubble burst. Those who cannot pay their mortgages lose their houses, if they don’t sell them. Attorneys around the nation looking for any snafu, no matter how minute, to invent a platform to blame banks. I’m looking for a foreclosure in NJ. When I look through public records of houses, I find the house was purchased on x date. Sometimes, in as little as 6 months, a 2nd mortgage is taken out. And within a few months after that, a refinancing takes place. Often, these home equity loans end up doubling what the homeowners paid for the property less than a year or two after buying. There is something very wrong with this picture. Now that foreclosure is emminent, the blame game takes on a life of its own. The real travesty is, these houses have fallen into disrepair, vandalism, burst pipes, mold and neglect have so declined some of these properties, they need serious rehabilitation or tearing down.
It is best to accept the inevitable, get these properties sold and move on. If a homeowner hasn’t made payments in 12 to 36 months, that is good reason to foreclose! Period! Whether the i over the word in was dotted is great theatrics, but it does nothing to truly remedy the fact that more than 85% of New Jersey foreclosures are tied up in limbo. Politicians, activists and others often raise a stink about properties that were long ago abandoned.
Putting these houses into the hands of new owners who will repair and live in them, contribute to the tax roles and community and help the housing market by getting these foreclosures off the “on again, off again” market, will help everyone.
Those who have lost their homes will hopefully get to find bargains out there, with so many houses in so many price ranges offered for sale.
The most important goal is to get the economy and housing market healthy. This cannot happen with endless moratoriums; Looking for needles in haystacks to prove the banks wrong; Denying the fact that this is a really bad economic time where many people cannot afford their houses and must live elsewhere, within their financial means.
Enough of the demonizing of banks. It’s time to make proactive moves to fill the houses that are vacant and crippling the economy!

By: l vent

l vent — Sun, 16 Jan 2011 05:00:07 +0000

I received an interesting and delightfully snarky e-mail the other day from National Mortgage news entitled: If the World is Going to End, Should we pay the Mortgage? The link is http://www.nationalmortgagenews.com/blogs/hearing/should-we-pay-the-mortgage-10228…

By: pparke500

pparke500 — Fri, 14 Jan 2011 16:57:21 +0000

Another civil settlement and no criminal charges?