Anti-eviction Protest Staged for Illinois Homeowner Facing Foreclosure
Written by: Tanya Gonzalez
May 16th, 2012
Posted in Plainfield, IL- Nearly 30 people from the Chicago Anti-Eviction Campaign and the Warehouse Workers for Justice gathered outside the headquarters of Wells Fargo in Jolliet to support Loleta Barrett-Leggett, who not only lost her husband and her son, but is also on the verge of losing her home to foreclosure.
Leggett fell on hard times after her husband was killed in a traffic accident in August 2008 and struggled to find full-time work. At the time she asked Wells Fargo, her lender, to lower her monthly mortgage payments to no avail. Now that she has enough income to make payments, the bank has repeatedly denied her requests for modification, which is often the case of homeowners, who don’t have foreclosure attorneys negotiating with mortgage lenders.
Now, Wells Fargo has given Leggett only two options sell her home through short sale or relinquish her home to the bank and they will forgive the remainder of her loan balance. But Leggett wants to stay in her home, which she and her husband purchased after the death of their soldier-son in 2006. A foreclosure lawyer may suggest another option to foreclosure such as a personal bankruptcy.
Leggett is not only in default but is also underwater on her loan. Her home is currently worth $100,000 less than the $222,000 purchase price.
Wells Fargo insists they have worked with Leggett, but could not come up with an affordable solution, especially since she doesn’t have a second income.
Foreclosure is a daunting prospect and homeowners often don’t know what to do. Although they have options they may not be aware what they are. With the sound advice of a foreclosure attorney, the troubled homeowner will have a better chance of staying in their homes.
Foreclosed Homes in Indiana Fall into Disrepair
Written by: Tanya Gonzalez
Fort Wayne, IN- Many of the over 5,000 foreclosed homes in Allen County, seized by banks since 2008 sit in a state of disrepair, with lawns overtaken by weeds, broken windows and crumbling foundations. Not only are these homes an eyesore, buy they also attract vandalism, squatters and can be a beacon for crime, along with posing safety hazards.
This is not only a problem in Indiana, but throughout the country. Many homes that could not be saved by a foreclosure attorney have fallen into the hands of banks who neglect these properties. Banks allege that until the home is sold at a Sherriff’s auction they technically don’t own the empty homes, begging the question: Who is responsible for the upkeep of these properties?
The empty homes created a problem for Fort Wayne officials, who decided to change the law and compel banks to maintain these properties. Ordinance changes in 2009 allowed county officials to attach penalties to for code violations to the property itself, forcing the new owner, whether it is a bank or an individual, to pay these liens before the title can be transferred.
Banks don’t transfer titles for a simple reason; money. It is often less expensive for them to leave the property in the lender’s name, relieving them of any responsibility to maintain these unoccupied homes. And the homeowner feels they no longer have the responsibility to maintain the home since they have been evicted and moved to a different location.
The current foreclosure crisis has far reaching affects. Neighborhoods are adversely affected and home prices have significantly dropped. Foreclosure attorneys can offer assistance to indebted homeowner, possibly allowing them to remain in their home through a personal bankruptcy or mortgage modification.
A short sale is also an option for a homeowner in the midst of a foreclosure; this option will keep the home occupied until it has a buyer. A foreclosure lawyer will be able to tell the troubled homeowner which foreclosure prevention measure will benefit them the most.
Occupy Des Moines Protestors Arrested for Disrupting Foreclosure Auction
Written by: Tanya Gonzalez
Des Moines, IA- Four Occupy Des Moines protestors were arrested May 4th for disrupting a foreclosure auction at the Polk County Administrative Building.
Over twenty protestors gathered and sang for over an hour, disrupting the auction, which resumed once the protestors left.
“What is happening in this room is not right,” said protestor Marti Doyle, “People are losing their homes… an average of 54 houses per week get sold at auction due to foreclosure here in Polk County alone.”
Doyle, along with three other protestors, was arrested for disorderly conduct, but released a short time later.
Another protestor, Jess Mazour told Radio Iowa, “We need to realize that it is not the families’ fault anymore. These people are victims of a crisis and they are being persecuted by the very banks that created the crisis.”
Though Occupy protestors stand up for homeowner’s rights all across the county, a defaulted homeowner can only truly prevent foreclosure if they hire and experienced foreclosure lawyer to work on their case and negotiate with their mortgage lender.
A foreclosure can be stopped, but it requires the expertise of a foreclosure attorney. Most homeowners are unaware of their options until they seek legal counsel. A personal bankruptcy can stop foreclosure proceedings and give the homeowner some debt relief. There are a large number of homeowners who qualify for a mortgage modification. A short sale is another option, but the homeowner will eventually have to move out.
Only an Iowa foreclosure attorney will know which the best course of action for the homeowner is, and before making a decision of this magnitude the homeowner should seek their expert advice. After a careful evaluation of your mortgage documents and personal finances they will be able to determine what your next step should be.
California Foreclosure Rates Drop
Written by: Tanya Gonzalez
According to Foreclosure Radar, a foreclosure tracking service, the number of foreclosures dropped across the Bay Area in April as a result of increased government help to homeowners.
While this is great news for homeowners, it was not so appealing for buyers. The decline in distressed sales kept the number of homes for sale low during the beginning of the peak home-buying season.
This same pattern was seen across the entire state, which saw large drops in the number of foreclosures from March as well as from the previous year.
Across the state, the total number of default filings was down by roughly 16 percent from March and down 23 percent from April 2011.
“We are seeing unprecedented government intervention into the foreclosure process leaving underwater homeowners in limbo, while stealing opportunity from investors and first time buyers,” said Sean O’Toole of Foreclosure Radar.
The number of default notices that were issued also dropped as well as the number of properties seized by banks or sold at auction.
If you have been struggling with your mortgage or have already received a notice of default, don’t fret because there is still time to stop foreclosure on your home. Turn to a foreclosure attorney in California today to discuss your options and file a case to protect your rights.
Foreclosure lawyers help prevent the seizure of your home by speaking with lenders and working out an alternative plan. Some ideas your legal representative may suggest include mortgage modification, short sale, refinancing, or even a temporary halt on payments so you can get back on your feet. Regardless of the plan, rest assured your attorney will not rest until the best resolution for your case is attained.
Call a California foreclosure attorney today to get started on your case.
Chabad of Boca Raton Faces Foreclosure
Written by: Tanya Gonzalez
BOCA RATON, FL – Chabad of Boca Raton is facing foreclosure after failing to pay on its $2 million mortgage since November.
The 23-year-old Orthodox Jewish congregation is facing a lawsuit by Wells Fargo, who wants the property put into receivership in order to keep it maintained. The lender is suing the Friends of Chabad of Boca Raton over the remainder of their unpaid loan, making it the third time in two years that a Chabad in Palm Beach County faces legal action for debt.
According to Rabbi Sholom Ciment, whose own congregation Chabad-Lubavitch of Boynton Beach filed for bankruptcy in 2010, debt and foreclosure are issues facing all types of nonprofit organizations.
“This is not a Jewish issue; it’s not a synagogue issue,” explained Ciment. “There have been all types of organizations in the last few years that have gone defunct and bankrupt. It’s a whole lot more visible than any time that I can remember.”
Times are tough and the U.S. economy doesn’t seem to be getting any better. If you or a loved one are struggling with your mortgage payments in Florida, seek the help of a top foreclosure lawyer today to prevent your home from being seized.
Florida foreclosure attorneys will review your financial situation and discuss a plan of action to present to lenders. You may be eligible for loan refinancing, mortgage modification or even a temporary stop in payments altogether until you can get back on your feet again, and your foreclosure attorney will see to it that the best possible outcome for your case is attained.
Regardless of your reasons for defaulting, help is available to you right now to fight for your rights as a homeowner. Contact a foreclosure attorney in Florida today to get started on your case.