NEW SOLUTION? IS THE HOMEOWNER PROTECTED?

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ATTENTION ALL HOME OWNERS THAT ARE IN THIS SITUATION!!!
WE GET IT!! WE GET IT!! WE CAN HELP YOU FIGHT THE BANKS, WE COVER ALL LEGAL EXPENSES WITH NO OUT OF POCKET EXPENSE TO YOU. READ BELOW:

We are currently only working in these states right now in CALIFORNIA (We need as many California clients as we can get!!) Oregon, Massachusetts, Florida, Illinois, New York and California where our counsel is Mark Zanides, a former US Asst. Attorney General in the Bay area.

We have a new solution for helping people in difficult situations like yours. In order to help you with your situation you must have recently been discharged from a Chapter 7 bankruptcy and have a loan that is owned in a privately securitized bond trust. Don’t worry if you do not know this answer, we will help you figure this part out. It is important to remember that if your loan is owned by Fannie Mae, Freddie Mac, FHA or VA, we unfortunately cannot help you at this time.

We are only focusing on Chapter 7 homeowners at this time, as it alleviates for the most part the deficiencies, etc. and they are typically facing losing the home back to the bank very shortly. These homeowners are typically more educated with the process since they have addressed loan mods and short sales throughout the time in foreclosure and we can focus on business of acquiring, litigating and property managing homes. It’s a much simpler process with post 7 people. We will consider Chapter 13 people but for now Marc wants to stay focused on the 7’s as there are so many of them out there.

The Company was started by former Ohio Attorney General Marc Dann, who is a leading foreclosure defense litigator; Tracey Baron, founder of Turning Leaf Advisors, successful loss Mitigation Company and Robert Mittleman, Director of Education, Laurus Title Group.

Marc Dann and the Big Blue Legal Team will oversee the efforts to review all of the Chapter 7 Discharged properties to hone in on properties with first mortgage liens that can be challenged through litigation. Lawyers will evaluate the likelihood of success in litigating a lien strip or purchase of the first mortgage note by identifying properties where the mortgages are securitized and the security interest of the bond trust has not been perfected, where there are issues related to the fraudulent assignment of mortgages or failure to indorse promissory notes within in the timelines established by the pooling and servicing agreements that govern the bond trusts comprised of securitized mortgages.

Big Blue’s legal operation will then oversee and pay for aggressive foreclosure defense or pro-active quiet title actions to challenge the standing of the alleged mortgage and note holders to foreclose on the acquired property. The Big Blue legal team will create brief and discovery banks and standards and intensively monitor lawyers hired to litigate cases.

What our company and partner Law Firms does is purchase your home subject to the existing mortgages and aggressively fight the lenders who are likely to foreclose on your home shortly. The purpose of this is to settle the outstanding liens using litigation.

We identify and acquire carefully pre-selected parcels of residential real estate owned by individuals who have been discharged from Chapter 7 Bankruptcy in situations where the Bankruptcy Trustee has abandoned any claim to the property.

Big Blue Capital Partners will acquire the interest subject to the mortgage after discharge, but before the mortgage holder seeks to foreclose and aggressively litigate the validity of the mortgage lien. Through this process, we will attempt to purchase the security interests in the properties at a substantial discount.

We are only focusing on Chapter 7 homeowners at this time, as it alleviates for the most part the deficiencies, etc. and they are typically facing losing the home back to the bank very shortly. These homeowners are typically more educated with the process since they have addressed loan mods and short sales throughout the time in foreclosure and we can focus on business of acquiring, litigating and property managing homes. It’s a much simpler process with post 7 people. We will consider Chapter 13 people but for now Marc wants to stay focused on the 7’s as there are so many of them out there.

Our team, led by experienced Lawyers, Mortgage experts, Title experts and Real Estate professionals, will take your place in the foreclosure process and if your property qualifies, and is accepted by us, we will aggressively litigate the imminent foreclosure process by the bank or lender, and take over the property entirely.

Should you be accepted into either of our programs all of the responsibilities related to the ownership of your home will shift to Big Blue Capital Partners, LLC and it’s Law Firm. Should you decide to stay in your property, you will become a tenant with a genuine opportunity to regain ownership of your home if we are successful in our efforts by receiving an option to purchase the property back at some time in the future.

BIG BLUE LITIGATION TEAM:

BOWLES FERNANDEZ LAW LLC
Lake Oswego, OR

DANN, DOBERDRUK & WELLEN
Cleveland, OH

THE LARSEN LAW FIRM, LLC
Chicago, IL

MARK ZANIDES LAW OFFICES- a Former US Asst. Attorney General in the Bay Area.
Santa Ana, CA

LUSK, DRASITES, TOLISANO & SMITH
Cape Coral, Florida

PADDY DEIGHAN, Esq. PhD
Haddonfield, NJ

PROSPER LAW CORPORATION
Los Angeles, CA
Las Vegas, NV.

We are currently only working in these state right now in Oregon Massachusetts, Florida, Illinois, New York and California, where our counsel is Mark Zanides, a former US Asst. Attorney General in the Bay area. We are being as conservative as we can in this area to make sure that we have all of our ducks in a row. We don’t take on a property until we analyze the Pooling and Servicing Agreement and have a good handle as to the underlying issues with the mortgage.

We cannot help everybody, we do not work with GSE loans as they do not have the same improprieties as the privately secured bond trusts and they do not have the same type of guarantees that come along with government loans.

Listen Ladies and Gentleman, this is a true way to fight these lenders, our team is experienced and we want to help.

We will not be successful 100% of the time, however if we are careful with analyzing the characteristics of the underlying loan, we should be able to increase the likelihood of potential success, based on the current case law in each respective state, which is changing every day. The homeowner will have the option of staying in the home at a below fair market value rent during the litigation process. Our law firm & partners will only litigate through our program, To be considered into our program email me at: bmw@bigbluellc.com leave your contact info so we may send you the program packet.

B. Michael White
Big Blue LLC
Partner
925-478-1949
bmw@bigbluellc.com

35 Responses

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  2. tony – you are so wrong about that foreclosure post-ch7 discharge issue. the case you cite predates the bankruptcy code and is not good law. stop misleading people with your google results.

    ch7 wipes out the personal liability on the debt. the lien securing the debt remains and can be enforced post discharge. Tony, would you take the same position on auto loans as well? if your way was correct, the lines at the bankruptcy court would be wrapped around the block. wipe out all debt and keep the “spoils” of the debt for free every 7 years….

  3. “Some have abosolutely no choice other than pro se. Are they supposed to just passively hand in the keys? Or is it better to try- sincere question.”

    Well of course, its better to try. But quite a few folks don’t seem to realize the courts are prejudiced against the pro se. In most cases, you have ONE CHANCE at the brass ring. Why not get the best help you can? Take your trial payments or your former mortgage payment that you were paying to the pretender-lender and make it to your attorney. Its still a “trial payment” for your own trial.

    I don’t understand the mindset of some, that somehow they are going to triumph over the already rigged and prejudiced court system without an attorney. Yes, I’ve heard some people can and do, but that is not the majority.

    Another thing to think about, if the case goes to mediation or settlement, you need a skilled negotiator to be looking out for every dirty trick the bankster’s attorney will try.

    If this pisses some people off who think they are budding Perry Masons, too bad. Its my opinion and I’m damned well entitled to it!

  4. bijaya kumara das brian d grover,

    Read your case law, you do not know what you are talking about. I hate when people come on sites and say things without case law looked up correctly to back it up. In Re Bullard was ruled on in the supreme court and was upheld because of the state used this case law to make its ruling Bradford v. Rice, 102 Mass. 472 (1869) here’s the important part:

    “if, after the institution of proceedings in insolvency or bankruptcy, judgment is recovered upon a debt provable under those proceedings, the original debt is merged and extinguished in the judgment, and the judgment is not provable against the estate of the debtor nor discharged by the certificate; and this not merely because such a merger takes effect by the rules of the common law; but because the creditor, by taking judgment, and so changing the form of his debt, and securing to himself the benefit of conclusive and permanent evidence of it, and an extension of the period of limitation of an action thereon, is held, on his part, to have elected to look to the debtor personally, and to abandon the right to prove against his estate; and the debtor, on the other hand, who might have protected himself by moving the court in which the action was pending for a continuance in order to afford him an opportunity to obtain and plead a certificate of discharge, is held, by omitting to make such a motion before judgment, to have waived the right to set up his certificate against the plaintiff’s claim; and therefore the rights of both parties must be governed by the judgment which the one has moved for, and the other has suffered to be rendered.”

    So understand what you you are saying, the crap mortgage liens survive bankruptcy is a well made up lie. Only if you do fraud to hinder or delay creditors or claim an exemption of your property do anything pass through bankruptcy. For if mortgages really survived why do they ask relief of the automatic stay to seek a state judgment to foreclose? They would just sit there and do nothing if it just survived. Again the security can not stand by itself without the action to use the promissory note. Without the right to demand payment there is no cause of action. Court lacks subject matter jurisdiction to do any kind of ruling because they can not reach the res (property).

    For foreclosures are personal actions in nature as Freeman vs Alderson was ruled on in the united states supreme court, over 100 yrs ago. Bullard ruling never gave a mortgage “in rem” this is why the ruling never uses in words “in rem” in it. Freeman vs Alderson was ruled on by the same supreme court judges that ruled on Bullard, only a couple yrs apart split the 2 so they were well aware of both cases.

    Bradford v Rice describes how a mortgage would survive bankruptcy and why. The personal right of action to sue the debtor never left, because the debtor did not ask the state court for an continuance until the debtor received there discharge. Had the debtor did this and it was granted the mortgage would be non enforceable by pleading the certificate of discharge. Since the right to demand payment is by law gone the security can not stand alone.

  5. leapfrog:

    “Better to be proactive and offensive (have your ducks in a row) than defensive in a non- judicial foreclosure state – arrest the foreclosure clock BEFORE it starts ticking…..…… get COMPETENT legal advice NOW – don’t go pro se alone. Pick your strategy and plan accordingly.”

    Non-judicial. At what point does offensive become defensive in non-judicial? Does false NOD naming original defunt beneficiary and silmultaneious bogus assignment by now servicer only to trust closed years ago change the picture? 30 days out of 90 already gone till auction can be scheduled. What ducks should you have in a row? Tried to get attorneys atten while still current. No luck. “You haven’t been harmed”. Thinking now case may actually be stronger because of NOD and ADOT but clock is ticking….

    Some have abosolutely no choice other than pro se. Are they supposed to just passively hand in the keys? Or is it better to try- sincere question. Do something or do nothing? Then there is that question of all energy and time needed to just survive and even a decently crafted complaint has to be put on hold until more cash in the bank.

  6. I’m very LEERY of this article. Look before leaping! (Just my opinion – for what its worth, even if its worth nothing – lol – former paralegal – if its “too good to be true – it probably is”). Better to be proactive and offensive (have your ducks in a row) than defensive in a nonjudicial foreclosure state – arrest the foreclosure clock BEFORE it starts ticking. Again, just my opinion. Do follow the story though and proceed with caution; nothing wrong with that.

    If you know you are headed to FC, get COMPETENT legal advice NOW – don’t go pro se alone. Pick your strategy and plan accordingly.

    I will dig deeper and let you know my findings…

  7. Quote — “we do not work with GSE loans as they do not have the same improprieties as the privately secured bond trusts..”

    Problem is the privately secured bond so-called trusts — came from Fannie/Freddie false defaults and classified non-compliant loans.

    That is the huge fraud. Subprime refinancing.

  8. I agree , keep these bastards off this site . Some newbies may fall for your lies , but not the die-hards here for the long haul . Be careful , you have been added to OUR hit list .

  9. Dear Tony:

    BK7 valid liens can pass through and be collected after discharge and you will not be liable to the IRS as of yet for the amount since it has been discharged. But any one who is involved with an unperfected lien can not so check your documents as to whom your creditor/mortgagee is

  10. Dear B.Michael White: Looks like you just want to become the landlord without clear title and then fight to get it. What guarantee do we have that you will give us title to our house upon completion of the case ?

    I got a little excited and sent you my info, but it is public record before finishing your article.

    maybe you can still help.

  11. @ tony, you wrote:

    “For a security without the note can not stand by itself.”

    And all this time we thought we were signing mortgages, not issuing securities!

    I appreciate your posts.

  12. Anybody in CA listens to Chris and Troy’s Radio Show on KOCI.m3u Saturdays 10:30 am?
    Foreclosure Wars, Good resources and information, also check out AmericanEquityFoundation if anyone is interested. I am not affiliated with anyone or anything, I thought to pass on info., we all need as much as we can get.

  13. This group must be working for BOA. Scam

  14. The funny thing about this is that there is numerous cases that talk about if a bank can enforce a bank note after chapter 7 discharge. The answer is NO. Only if the bank had an active state case matter can they say that it was not “proved” in the bankruptcy. This is because the state did not waive jurisdiction.

    But if there is no state case and the you get a discharge before any matter then they have no case against the property to do a in rem. Read In Re Bullard to understand this. This case was about “prove” in bankruptcy. In order to understand this case you must read the state ruling on this.

    The reason why they would have a “in rem” is because they had a state judgment.Not because they have 2 ways under the contract. Bullard even points this out. For a security without the note can not stand by it self.

    This issue is more about jurisdiction as the state can not rule since it does not have jurisdiction to rule on the property matter.If the banks wants to sue you after 7 discharge they must sue the estate, and 9 times under 10 the 7 estate was labeled “no asset” meaning no value. The estate holds the liability for life and the bank can never “charge” you anything if value.

    Read about the true meaning of no assets no value in any FDIC case going on right now in the federal courts. FDIC vs DBNTC FDIC vs JP Morgan Chase FDIC vs MBIA

    These case will have you understand that even if you could sue the FDIC, (the former bank holder ex Indymac) they can not claim anything because the former has no value to get anything against the person.

    All bankruptcy is, is a pass through entity that holds on to the liabilities while passing on the assets free and clear of any liens (liabilities)

  15. For all the time I spent reading livinglies.wordpress this subject is a turn off, I felt so embarassed of myself, that I am an advocating Livinglies; knowing that they do not screen the Articles/Organization of the people that advertise here : Does Livinglies Web investigate the organization/people that put this article to this site. This is another
    S C A M yes you read it S C A M.

  16. How about the states do this pro bono – attorney fees paid by the “loser”banks. Only the title stays with the homeowner. States can participate in the triple damages.

  17. this is another SCAM. DON’T BUY IT.

  18. colleendevine

    Congratulation! Sounds like there is hope. But the attorneys in the ariticle above want you to hand over title to them in exchange for doing what you did on your own and then rent it back from them or buy it back from them. Just how I am reading it. Hope for the desperate and poor who have no other option I guess. I think there are two things wrong with the efforts to fight in court for people right now. First the only way to fight seems to be bankruptcy – at least many attorneys think so. People with assets who are paying on time should be suing big time same fraud exists for all. Second it should not be necessary to declare bankruptcy no matter how poor you are in order to fight this fight.

  19. Hi Everybody, in response to the many favorable and some not so favorable comments and phone calls we are going to re-post what we are trying to do. Many of the comments that have posted here, have not called or emailed to find out exactly what we are trying to accomplish here. So in all fairness to every homeowner, Neil Would you take down this post and allow us to re-post a more in depth and detailed posting. We want everyone to know that this is not a scam or sham, we are honestly trying to help. So before you judge or condemn please find out the facts of what our system is designed to do. Everyone has a right to their opinion which we are not trying ignore or dismiss in any way. This is the reason why we want to inform. So in light of the initial posting we ask for some Patience so we can provide to you a more detailed outline for this specific strategy, and we apologize for the confusion this may have caused.

    B. Michael White
    Big Blue LLC
    bmw@bigbluellc.com
    925-478-1949

  20. Jan,
    I look forward to your incredible insight and wisdom.
    When you wrote “The moment you lose title, you lose.”?

    Oh, how wrong you are. I can personally attest to getting my title back
    when they rescinded the foreclosure and sale. It’s on public records.

    I had it for a year longer until they filed again after we found out the lawyer we hired?- didn’t show up to court when he filed a lis-pendins and adjudication. When I called him on it AFTER PAYING HIM he said, OH,
    you can do it now-after filing chapter 7 and STILL losing it.(he was the 3rd and came recommended from a RE attorney.-(never again)
    My secondary home was sold to a third party-fully furnished and professionally landscaped, but also their SECONDARY home.
    In the next 2 months I WILL get the sheriff there to kick them out and change the locks-again as they are co-conspiritors of the fraud and ONLY have A “SPECIAL” WARRANTY DEED. I got the real thing and will ACKNOWLEDGE it as it’s mine and NO-ONE WILL BE ABLE TO TAKE IT AWAY AGAIN.
    Oh, and after the BK,the JUDGE ruled that after 90 days?-WE get our note back too- too cool huh?-cause we know they don’t have it-ha-ha

    I just got impulsive to write sense YOU have taught ME so much.
    Thank you,
    Colleen

  21. from article:

    “…have a loan that is owned in a privately securitized bond trust.”

    This is the load of bull that is still being fed to us—there are NO LOANS “owned” in a “trust”. NONE.

  22. fwiw– gse = Fannie Mae, Freddie Mac, FHA or VA,
    all these types of loans have a hook that chapter 7 law cannot overcome -re “perfection and claims to asset[s]”- at least this is my understanding of law and as much , this must be the method BIG BLUE or ah … er … who ever, is suggesting they can prevail using.

  23. neil..
    i assume you would have checked these guys out before your authoring this on your site?? yes?
    i get the entirety of the ch7 premiss and how this can work.
    my question again is if YOU have done any due diligence of the this law firm & parties of ; before semi-promoting this here @ LL.
    thanks…. i think.

  24. Very fishy, I must agree. Why not take on Fannie and Freddie? They are the largest single “landlord” in existence. I smell a rat.

  25. Enraged, you are so unfortunately right, it’s easy to believe or trust anything or anybody, that’s how the CORPORATE GOVERNMENT wanted us to be, scared, paranoid, helpless, exhausted and poor!

    It does not mean that’s how we should act, but it’s good to be aware of how we make decisions from now on, and that’s good. If we were aware of the potential disaster we are in now before we hot duped into it, then we may have made different decisions, that’s why people say that ignorance is bless. what happened to us is bad, but when I look at it from different angles I can use it for my benefits, why because now I am much more aware and informed than I ever was before.

    I will have to trust again just because I must, but not the same people, not the same system and not the same government, and certainly not the same judges. Our lives have been drastically changed, but I will create something good out of that change. If I have learned something new is that I am a stronger person, and I am an enlightened person and I am more informed person and I think most of us are by now. This disaster called the housing crisis, have taught us lessons that we will never forget.

    We can all learn from all of this and when we get out of it we can and will define our new way of life and rebuild our own dreams with the new knowledge and experiences. and now we are more involved and more open and more equipped to deal with the world. I am not saying that what had happened should have happened, I am saying that because it happened, we can learn from it.

    As all of us have proven our discontent with the system, and our awareness of where we are as a nation and how we recognize crap when we read it, see it, or hear it. We are not all together there yet, but we are on the way. If the least thing we can attain is staying in our homes with reduced payments to compensate for the losses is not bad, but if we can clear the cloud on our titles is even better. My point is I am personally much better off having to have gone through this crapy situation then I would have if it did not happen.

    what I will not do is play dead, or become a door mat, or leave behind what I had worked very hard to build on my own. I will not be a victim that easily and I will not be ruled over by some greedy corporation. I will get to where I want to with whatever strength I have left. We are all here for a reason, to learn something we didn’t know before and help each other, and show the system that we are here to fight for what’s right. I will never let them take away my trust in humanity in general, because there are many good people out there and let’s not forget that. I am not just saying that to any one specific person, I am saying it to everyone myself included.

  26. Sorry about that duplicate post…

  27. What troubles me a great deal is that, honest people who want to live a simple life, want to got to work, own a home, raise kids, travel some, retire and leave some to their kids have been completely pushed aside and out of the loop once and for all.

    Things have been rendered so complicated and so unnatural that, unless one becomes focuses on “making money” at any cost and schemes to make it, it has become impossible to live that simple life.

    I end up second-guessing everyone’s motives, looking for that part of the information I wasn’t given and without which I can’t make an “informed” decision. Everyone has become suspect. I look into everyone’s background (wasn’t Marc Dann an AG in Ohio and didn’t he fall into some kind of disgrace?) and I’m really becoming paranoid!

    In something like that, there is a catch. In anything, there is a catch (i.e., some unforeseen or undisclosed potential consequence). There’s a catch in drinking coffee every day, there is a catch in smoking, in eatin Monsanto’s food, in pretty much everything we do and undertake nowadays.

    Where is the undisclosed catch in Marc Dann’s last brain child? On one hand, he is behind the Ohio class action by counties looking to recoop their mortgage-recording money (honorable), on the other, there is this post that gives me the eeby-jeebies… That weird feeling in my guts of “Deja vu, all over again, someone will end up screwed for life and it ain’t the lawyers…”

  28. What troubles me a great deal is that, honest people who want to live a simple life, want to got to work, own a home, raise kids, travel some, retire and leave some to their kids have been completely pushed aside and out of the loop once and for all.

    Things have been rendered so complicated and so unnatural that, unless one becomes focuses on “making money” at any cost and schemes to make it, it has become impossible to live that simple life.

    I end up second-guessing everyone’s motives, looking for that part of the information I wasn’t given and without which I can’t make an “informed” decision. Everyone has become suspect. I look into everyone’s background (wasn’t Marc Dann an AG in Ohio and didn’t he fall into some kind of disgrace?) and I’m really becoming paranoid!

    In something like that, there is a catch. In anything, there is a catch (i.e., some unforeseen or undisclosed potential consequence). There’s a catch in drinking coffee every day, there is a catch in smoking, in eatin Monsanto’s food, in pretty much everything we do and undertake nowadays.

    Where is the undisclosed catch in Marc Dann’s last brain child? On one hand, he is behind the Ohio class action by counties looking to recoop their mortgage-recording money (honorable), on the other, ther4 is this post that gives me the eeby-jeebies… That weird feeling in my guts of “Deja vu, all aover again, someone will end up screwed for life and it ain’t the lawyers…”

  29. The moment you lose title, you lose.

  30. Isn’t this what Fannie and freddie are doing, after the foreclosure, they can rent the homes back to the homeowners! Isn’t why this group would not take on Freddie of Fannie’s loans, it would be a competition! What really pisses me is that no matter who comes out of the woods to so call help the homeowners, are mainly interested in helping themselves first.

    It almost seems like no one wants the homeowners to keep their homes and their title to the homes. The AG in Cal. and most other states have yet to prosecute any of the felons, the regulators are in on the take, the President is been bought the whole system is corrupt, and then those who say they can help are trying to steal what’s left!

    Don’t you think that after going through any BK, 7, 11 or 13, the homeowners have already been beaten up to near death, then some company swoops in and rescue I mean steal the home then might as well just surrender the home to the bank and just walk away and rent elsewhere! I mean what’s the use, why the hell are we fighting for?

    I really thought here’s a group of lawyers willing to take on the cause for justice and do the right thing for the homeowners. It’s not so after all. And only those who have nothing left to fight with are qualified, to give up their right to their property, WOW. Now I know I live in America, because only in a totally corrupt and mel-functioning society this sort of thing can happen. I understand CAPITALISM, I have no issue with it, I have issues with underhanded schemes, I have issues with fraud and mis justice!

  31. People,

    Don’t be so quick to condemn without knowing the facts and by jumping to conclusions. Indeed, most who go through Chapter 7 BK end up losing their homes in foreclosure almost immediately after discharge. Indeed you don’t sell it becaue you can’t you’re usually under water and would have sold it already if you could have.

    They do mention the appropriate window between getting the discharge when up until then the automatic stay is still in place; and the foreclosure where you will usually lose it not too long after discharge in most cases.

    You generally cannot fight foreclosure in a Ch7 unless having the property abandoned from the trustee’s control as property of the estate (otherwise only the trustee has standing to file an adversary proceeding…I know, I’m fighting this in my own case) and even then, we’ve seen trustees go back after the property later you succeed in getting it abandoned and file your own adversary proceeding smelling blood in the form of a big fat commission if being able to take ownership of the property and sell it themselves to pay creditors.

    I have seen this form of general structrure for attorneys to get paid…it has been tried in the past; most have been scams; but not all.

    I know at least one firm in this group and they are not scammers by any means. Most; however, I don’t know, even those in my home state of California, finding it odd I’ve never heard of them since I’ve been in this field for such a long time.

    If you can figure out another way or find another law firm to take your case without your having to fund the $50-150k it takes to properly litigate one of these cases, by all means go ahead but you’ll get what you pay for. No doubt you will pay for it here in another way but reguires another form of remuneration some may not be comfortable with.

    What’s the alternative?

    I don’t know these guys but what they’re saying at least at first blush, makes sense in the scheme of things. I need to do my own due diligence into them and plan to. For now, I’ll give them the benefit of the doubt because if they screw up, they’ll be the ones ultimately paying.

  32. To add to Colleen’s comment, why would the firm want to hold onto a property that they had gotten at far below FMV, when the value is going to fall further? They want to sell the property, take the proceeds, and run. Chances are that they have “investors” ready to buy the property if it does become available.

    A homeowner with a BK and foreclosure? How is the homeowner going to qualify for a home in less than 4 years? Is the firm going to rent or lease to them for four years?

    If the firm does lease to them with an option to buy, the terms of the option will be set at a value consistent with the current value of the home. There will be an “option fee” paid, so as to get the offer of the option. If not exercised, the “option fee” would be non-refundable.

    What happens if the value of the property drops? Is a lender going to loan on a property when the purchase price of the option is greater than the value of the property? Of course, the firm will say that the homeowner will get a “credit” for the rent payments in some negotiated amount at the time the option agreement is signed, but this amount will not offset the loss in value.

    Run hard from this company.

  33. Some comments:

    1. The homeowner is going to lose the home, no matter what. What benefit is it to the homeowner?

    2. If the homeowner is going back into default, then it is obvious that they would lose the home, but as we know, foreclosure takes over a year in most states, and often more, of which during that time, the homeowner is not making payments. Why pay rent while the firm “litigates”? To extend the time frame of non-payment, simply file for a mod and under the OCC Consent Decree, the dual track foreclosure cannot be done, so during that time, the foreclosure process is stalled.

    3. The “rent” appears to be another manner of collecting fees for litigation. After all, the homeowner cannot “sell” the home to the firm without the firm paying off the original loan, unless the firm is attempting to “assume” the loan, which would require lender approval. (This “interest transfers “sounds like a take on the BK scam where homeowners would transfer interests in the home to other parties, who would then attempt to stop the foreclosure. This scam was finally shut down.) Therefore, what purpose is the rent?

    3. They want BK 7 where the case has been discharged. This suggests that the loan is up to date at time of discharge, or it would have been included in a 13 BK. If the other debt has been eliminated, then would not the homeowner have a lesser debt burden that would make it easier to repay the loan?

    4. After a 7, there might be a better possibility to achieve a mod, though not a principal reduction, if there is nothing to prevent mods after a BK. Default risk would be greatly reduced

    5. Based upon their “legal strategy”, it sounds conspicuously like “Prove the Note”. In CA, that strategy has gone nowhere, and would meet with failure.

    Here is what is likely going on…….

    The firm is looking for what is known as “Scratch and Dent” loans. These are loans with serious “defects and deficiences” in underwriting, title or other areas. With an S&D loan, the lender could not easily “sell” the loan, sold the loan would be sold to 3rd parties, at far below value. In this environment, the loan would need to be sold far below the home’s Fair Market Value to even attract an interest. The firm would go in and try to get the home for far less than FMV, and use the “rent money” to finance the lawsuit.

    Notice the states where they want to work. NY, MA, FL, OH, CA and Oregon. NY and FL have favorable rulings in some courts. S&D loans would offer them a good chance to obtain the home for less than FMV. But, the homeowner would receive no benefit.

    In MA, they would attempt to use Ibanez for obtaining the S&D loan.

    CA makes no sense other than S&D loans. Non S&D would be difficult to even think of pursuing.

    OR, who knows what they are thinking.

    This firm appears to be trying to grab the cream off of the top, the “easy pickings”. They are offering no benefit to the homeowner, other than letting them pay “rent” while the firm tries to litigate. This rent would certainly offset the cost of litigation.

    I would not trust this firm.

  34. “Should you decide to stay in your property, you will become a tenant with a genuine opportunity to regain ownership of your home if we are successful in our efforts by receiving an option to purchase the property back at some time in the future”

    TALK ABOUT DUMBING US DOWN!
    This looks like blatant advertising for more THIEVERY.

    COME ON!!!-ON THIS SITE?-YOU’VE GOT TO BE KIDDING

    PLEASE TAKE THIS INSULTING WRITING OFF!
    Colleen

  35. What? Who in the world would do this. You do not sell your home after a chapter 7 discharge. This is crazy, and then on top they want you to pay rent to them? All this company is trying to do is make money off the hurt and uneducated. For there are ways to fight and win if you have a 7 discharge, but this is not the way.

    Neil what in the heck are you thinking? Or are you even thinking, or even looking at your site? We suppose to help people keep there homes not lose it to some dumb investment firm seeking to make money in this bad era.

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