February,
2010 - Do not pay any one money to "help"
you avoid foreclosure or modify your home
loan. You can avoid the Foreclosure
scams which currently menace homeowners by
seeking advice from those who do not
personally profit from your dire situation.
There are at least two "walk-in" clinics to
help struggling homeowners are now open in
Phoenix. Neighborhood Housing Services of
Phoenix and Chicanos Por La Causa are
partnering with government-owned mortgage
giant
Freddie
Mac to
operate what are being called Borrower Help
Centers. These new centers provide free
financial
counseling
and help negotiating a loan modification
with lenders.
These walk-in
centers might prove to be more accessible to
some homeowners and even streamline the
process for Freddie Mac borrowers, said
Patricia Garcia Duarte, chief executive of
Neighborhood Housing. The Borrower
Help Centers are located at 1405 E. McDowell
Road and 1112 E. Washington St., Suite 102.
You can also
check with HUD counselors: at
www.HUD.gov.
Trust your gut, follow common sense, but do
not delay in getting help NOW. Also,
look at
Making Homes Affordable (federal web
site).
Submitting your
documents on-line:
Default Mitigation Management.
No charge for attorney or borrower.
Mortgage
Modification Scams,
new Arizona law cracks down on
mortgage
modification scams, by Meredith Yeomans, azfamily.com,
Posted on July 30, 2010 at 3:06 PM
Buyers
have no moral duty to lenders,
by Brent T. White Brent T. White - Apr. 25, 2010
Associate professor of law, UA The Arizona Republic
(reprinted for educational purposes only)
The
Housing Collapse of 2010 Will Be Worse Than 2008 .
60 Minutes YouTube video
Short Sale Seller Advisory
warnings from Arizona Department of Real Estate,
2/2010
Fighting
Foreclosures, bankruptcy better solution than working
with lenders, New York Times, April 16, 2010
Foreclosure
Prevention: Comptroller of the Currency
Walking Away not immoral, professor says, by J.
Craig Anderson, The Arizona Republic 2-10
(reprinted for educational purposes only)
Mortgage
Rescue and Loan Modification Scams. By David Chunn
(2-10)
Selected Real Property Issues: trustee sales,
foreclosure, defenses, deed in lieu of foreclosure,
equitable liens, Micheal McGrath
Foreclosure and workout attorneys face discipline
charges, California Bar Journal,
By Nancy
McCarthy Staff Writer (9-2009)
(reprinted for educational purposes only)
Goddard urges lenders to ease loan revamps,
August 24, 3009
Paper Avalanche Buries Plan to Stem Foreclosures,
By
PETER S. GOODMAN,
June 29, 2009, The New York Times
(provided solely for educational purposes)
Foreclosures Are Often In Lenders' Best Interest
Numbers Work Against Government Efforts To Help
Homeowners, By Renae Merle, Washington Post Staff
Writer Tuesday, July 28, 2009 (reprinted for
educational purposes only)
HOPE for Homeowners
Act of 2008
(link
to FHA)
Why
Efforts to Stem Foreclosures Are Failing,
by Lita Epstein, July 28, 2009
(reprinted for educational purposes only)
This is an analysis of cram-down
by the Illinois State Treasurer, a former community banker.
http://www.dailykos.com/storyonly/2009/6/26/747122/-Cram-downfrom-the-Perspective-of-a-Community-Banker
Misc:
1099 taxes: Amtrust Bank
v. Fossett, (Ariz District Court, 1 CA CV 08-0840,
12/15/09) A 1099-C form, a federal tax form entitled
"Cancellation of Debt" that informs the borrower of the
"amount of debt cancelled" for income tax purposes, is prima
facie evidence that the lender has discharged the debt under
47-3604(A)(2). But may be rebutted by evidence showing
that the lender did not intend to forgive the debt.
ARS Section 47-3604(A)(2) states that debt is discharged
when the lender "agree(s) not to sue or otherwise renounce(s)
rights again the party by a signed writing."
