Couple Heads Off Foreclosure by Fighting Back

AOL Real Estate:

A New Jersey couple fought a lender's foreclosure proceedings and ended up being able to keep their home. George Elghossain and his wife, Mona, successfully defended against a mortgage loan servicer that tried to foreclose on their 4-bedroom home. The April 4 court decision set a precedent for other homeowners in the state who now should be able to cite this case for having their own foreclosures dismisse

Read the whole story: AOL Real Estate

Comments

[cats530]

03:57 PM on 04/26/2011

"The Fair Foreclosure Act is clear, unambiguous, and readily comprehensibly (especially to a sophisticated lender)," according to the opinion written by Judge Glenn Berman of Middlesex County."

Like Mr. Hankey below, I say GOOD for the homeowners. Next step BOA and its bankster cronies will take is lobbying to rid themselves of the pesky "Fair Foreclosure Act."

See what this congresswoman in AZ did to her consituents:

http://4closurefraud.org/2011/04/26/nancy-mclains-response-to-charges-regarding-sb1259-bill-would-have-given-those-who-just-dont-want-to-pay-their-mortgage-a-loophole-to-get-out-of-forking-over-the-cash/

Yes, that's right, it OVERWHELMINGLY passed the Senate 28-2 and then bought-and-paid-for-by-the-banksters McLain completely gutted it & made it "disappear". Hope those 13 pieces of silver were worth it, Judas.

[Mr Hankey]

10:14 PM on 04/15/2011

Good for these homeowners; please don't give up folks.
I'm glad BofA didn't get ANOTHER free house!

We need a similar "California Fair Foreclosure Act" enacted asap.
It's unreal what they get away with in California.

[Siebenstein]

06:49 AM on 04/14/2011

I think all of these articles are laughable. We had the biggest heist in American history going on and banks turn around and heist again by foreclosure, while articles, such as this one (of so many) talk about the issue as if it is a legit issue. This should be an issue for the Supreme Court. That of course doesn't work, since those p1gs are in on the scheme, the same way as is Wall Street, the administration and opposition, and the Fed and g@ngst@s such as Comptroller of the Currency. They keep svcking until Americans are de@d dry.

[cats530]

04:00 PM on 04/26/2011

Article on the Office of Complete Chicanery (OCC):

http://www.nakedcapitalism.com/2011/04/occ-makes-patently-false-claim-that-slap-on-the-wrist-servicing-penalties-could-hurt-banks.html

[how now]

12:00 AM on 04/14/2011

"Bank of America wanted the judge to expand the meaning of who is a lender so that it would include any "mortgage lender, mortgage investor or mortgage loan servicer that owns ... or is authorized to negotiate the terms of the homeowner's mortgage." Berman said the bank's argument "is misplaced."

"misplaced" is too nice a word. So BofA wanted to expand the meaning to "servicer" (the one who only process the payments ect and to whom no debt is owed) is the same as "lender" (the one who funded the loan and to whom the debt is owed). Very big difference between those two. But millions of homes have been foreclosed by courts ignoring that difference. "The homeowner owes someone doesn't he?" That's all that matters - he hasn't paid anyone for awhile so pay the one who says he owes them - no questions asked. Glad at least one judge refused to ignore the difference between "servicer"" and "lender" and went by the law. You have to wonder is the "lender" even notified when the "servicer" collects payments or confiscates and sells collateral since BofA (and others) figure they are one and the same thing? Do they get to keep funds just because they can and no one questions their right to do so? What if the real "lender" shows up next? Do the judges brush him off - too late - we gave the house to BofA. It was a no doc judgement. It was a liar's judgement.