If My Home Is Foreclosed, Will The Mortgage Co. Come After Me?
Jun 19, 2008 by veebeedee | Posted in Renting & Real Estate
I am almost 3 months behind on my mortgage, I do not hope for to lose my home, but with job loss and the economy, I just don't have the money. I submitted paperwork to the "Detailing Team" to see if they'd help me lower my payment or interest rate. It's been since March and they still haven't came to a outcome. I keep calling and they keep giving me the runaround.
I guess I could put it up for short sale, but if it forecloses, will they lay after me for more money?
I didn't phrase that last sentence right....I guess I could look into doing a insufficient briefly sale, but if I decide not to and my home forecloses, will they come after me? Or is it in my best interest to try a short sale first?
I can't counter-statement your question directly, but maybe in part some information that could help you. It's great that you at least communicated with them on this consequence. And you need to keep calling and inquiring into their decision. Be nice, you gain more ground with being fine, than angry and mean. But I suggest you make at least partial payments. It shows resolute to do the right thing. After all you did promise to pay them. The thing about a short sale is they have to give their permission. And most lender won't do that until you've shown them you've made a attainment to sell. What you could do once you get someone on the phone again to inquire about a resolution is ask them about "deed in lieu of foreclosure". It does police station your credit, but it's much less than a foreclosure.
And lastly, no they won't come after you. Bush signed into law legislation in Jan 2007 that forces the lenders to slough over any balances until Jan 2009.
Please do two things in your best interests; #1 keep calling them to resolve this issues and #2 if you do have to have as a remainder, please please please don't destroy the place.
I Need Help With CountryWide Mortgage Company And Home Loan Modifcation?
Mar 22, 2009 by blackeye1020 | Posted in Personal Finance
We were approved for a loan modification. we recieved a sign stating that all collection calls will stop and it is being processed. It took 3 months before they even acknowledged us. This is from the "Desire TEAM". Then 2 weeks letter we recieve another letter from the "HOPE TEAM" STATING that they found a descrpency and was changing our payment again. We signed that formality, notarized it and sent it back. THen they said they could not process it at this time and for us to call them, accusing us of forgery even after we had it notarized. Meanwhile CountryWide has sent us a forclosure observe that they are
forclosing on our home at the end of April. We besideare selves, we can't get a straight answer from anyone, we try making payments thru countrywide but they reject to accept our payments, we try to pay thru the address provided by the "HOPE TEAM" designated as the payment deliver. IT was sent back. We just don't know what to do. We are trying to save our home and refinance with another company. But what do we do to hinder forclosure or at least delay it until we can refinance somewhere else. This is ridiculous, how does this happen? I need serious supporter and advise. Please very serious.
William "Boots" Del Biaggio III Charged With Fraud........?
Dec 14, 2008 by Grand Theft Auto | Posted in Hockey
Feds assess former Sharks co-owner with Del Biaggio, faces up to 25 years in prison if convicted.
"Federal authorities filed laical and criminal charges Thursday against bankrupt Silicon Valley financier William "Boots" Del Biaggio III, alleging he bilked banks and private soldier investors in a series of schemes that raised tens of millions to pay off gambling debts, buy a hem in in a Nashville pro hockey team and finance a lavish lifestyle for himself and his family.
Del Biaggio from one's own viewpoint obtained more than $65 million, according to the Securities and Exchange Commission, which said he "occupied his clients' money as his personal checkbook" — to buy the team, pay home mortgage and decorating expenses on extravagance homes, "substantial" gambling debts, credit wag bills and "other personal and unrelated business expenses."
He also acquainted with phony collateral to obtain an additional $54.9 million in loan guarantees, according to a flagitious complaint filed Thursday in U.S. District Court. Most of that amount appears related to his investment in the Nashville Predators hockey franchise."
Could the Preds be heading up to Canada after all?
Could Gary Bettman be tied to this?
Thoughts?
Valid asking!!!
Kate
I'm not sure either! While reading the CBC article I saw this and figured to ask if Bettman could be tied up:
"Balsillie, through his lawyer, accused NHL commissioner Gary Bettman of sabotaging his bid and forcing Leipold to tattle on to the local group and Del Biaggio. Bettman denied this."
First of all, Bettman and del Baggio are NOT friends
Wink, del Biaggio was introduced to the NHL through the owners of the San Jose Sharks (to whom he alledgedly lend several million dollars to and was given an neutrality stake) and the multi-billionaire owner of the Los Angeles Kings, Philip Anschutz.
Anschutz also happens to own the arena in Kansas Diocese and in the past, he has strongly suggested to the NHL and it's governors that there should be a franchise in that arena. He has also strongly suggested that his in person friend (del Biaggio) be the owner of that team.
Let's move ahead.
After Balsillie failed to make his retaining put on the the Predators, Leipold called the deal off. BUT, he still needed money, and needed to supply the team (it is now known that Leipold had already entered negotiations to buy the Wild by that time). With San Jose 'financially dependable', Anschutz mentioned to Bettman that del Biaggio would be willing to 'help' Nashville out if Bettman/Hotchkiss (Cgy proprietor) could negotiate a settlement with the Sharks. This was done.
Bettman then turned the tables on Anschutz AFTER the Predators trade was tentatively signed by requiring del Baggio to withdraw from any potential ownership of the Kansas Bishopric franchise. del Baggio agreed (probably because he knew he had no money) but Anschutz was angered.
It should be prominent as part of this investigation, Anschutz, the San Jose ownership group, the NHL, and the Predators ownership order ALL found del Biaggio to be what he described himself as. People like to say the NHL didn't do it's due diligence, but it turns out that del Biaggio hid things well, and had his 'corporealization' in order. It turns out that his errors made by his family owned bank led to the SEC investigation which is what started unravelling things. Without that boob, no one ever would have been the wiser.
Unfortunately when looking at the Spano transaction on the Island (Bettman), the basic ownership group of the Senators (Ziegler), the Baldwin ownerships (San Jose, Pittsburgh, Hartford - all under Ziegler), Bruce McNall (Ziegler), and Charlie Finley (Campbell) - the NHL has a extensive list of shady owners. Throw into that Bill Hunter (Blues to Saskatoon) and Nelson Skalbania (bought the Flames unreservedly to make a profit to cover other debts) and one no longer has to wonder why the NHL fails to get feature in some corners of North America.
To add your last Balsillie comment
The Government of Canada investigated the NHL's dealings with Balsillie
1. Pittsburgh Penguins.
- the Canadian guidance found no wrong doing on the NHL's part. They had unainamously approved the sale of the Penguins to Balsillie. However, Mario Lemieux chose to add several conditions to the mark-down which Balsillie balked at. This had nothing to do with the NHL, and was well within Lemieux's rights as the franchise owner.
2. Nashville Predators
- the Canadian oversight found no wrong doing on the part of the NHL, and DID find wrong doing on the part of James Balsillie. Balsillie twice missed a retaining deposition deadline to Leipold. After the second miss, Leipold informed the NHL that he had scuttled the sell and the NHL was no longer being asked to vote on it. Also, the goverment of Canada determined that Balsillie was advantage significantly less than he claimed (keeping in mind that in order for Balsillie to fight this put, it would cost him money because his tax bill would increase).
Gary Bettman and Bill Daly claim they have nothing against Balsillie. The owners on the other steadily do. Any franchise moved to a potential expansion location costs them money. An dilation franchise in any city will net each owner about $30MM. If one of these cities obtains a franchise through re-tracking down, then the owners lose that money, because the city it came from ceases to be a possible franchise site.
In the case of Hamilton, only people in Southern Ontario consider it a strong franchise prospect. Nobody in the NHL sees it that way due to it's proximity to both Toronto and Buffalo which will have have their lawyers waiting to bankrupt the team in territorial rights fees before it even starts (and Wayne Gretzky made allude to of this fact when he addressed the Economic Club of Canada earlier this fall).
Bob
del Biaggio never had a pecuniary interest in more than one team. He lent the Sharks consortium money a few years ago, in return, he was given an right-mindedness stake in the team. I'm not sure whether his relationship with Anschutz was personal or professional, but I don't believe he lent Anschutz any change for the Kings, especially considering Anschutz is a multi-billionaire and del Biaggio was only a multi-millionaire (albeit a thought few hundred millions). It was however Anschutz who suggested to George Gund III and Kevin Compton that del Biaggio could refrain from out their consortium financially.
When the Predators situation came up, he was able to cash out his San Jose concerned due to the financial improvements in the organization (and the help of Hotchkiss and a couple of other NHL governors), and use that resources to get a minority stake in the Predators.
Similarly, had the Kansas City issue seen the set of day while he was with the Sharks (or the Predators), he would have been forced to cash out with the current team before a regular season victim was played.
As you mentioned, there have been examples of this in the past - and let us not forget.....Jimmy Devallano owns %0.001% of the Detroit Red Wings (a these days from Ilitch in the late 80s) as well as a similar interest in the Toronto Maple Leafs (Devallano was a shareholder in MLG Enterprises and when Stavro took the concern private, Devallano refused to tender his shares and on the FAN 590 in late October/At cock crow November (before my father's death anyway) Devallano told Norm Rumack that he still has the shares, they are still right, and that he has also owned season tickets to the Leafs since 1957 (although other family members use them).
Jan 21, 2009 by Lexes | Posted in Marriage & Divorce
My ex tranquillity's wife has a general power of attorney from my ex since my ex is deployed. I took him to court not well-informed that he was deployed and she showed up, showing paper of all their family expenses which included 1k on their 4yrs preschool and $500 on his music lessons and soccer team 2car payments and 4K mortgage of 5bed flat home. So the judge decreased my child support from 400 to 285 a mo. What can I do re-modify is dippy.
New Home Loan Denied By Builder's Lender- Give Up Or Keep Trying?
Jun 30, 2007 by jenniferab320 | Posted in Renting & Real Estate
I put a roll oneself on a townhouse/condo in April with an earnest deposit of 5K. I did not have a credit score, I dote on good money and have been employed for a long time, My parents are putting down a extensive down pymt. The LTV was about 60%. The Builder was offering 10k and two years HOA fees if I went throught their lender. I did and within a week they said they could not do the allowance in house and sent it to a broker who also said they could not do it either. Two months passed while, I heard nothing. During this rhythm, I picked my selections for the house and met with the construction team, going along with plans as usual. The sales and mortgage team all said " we've seen worse, you are okay markedly with that down pymt" . I went three weeks w/o returned phone calls and once was asked for info for a non traditional credit history. I gave checks, and letters all with excellent payment records. One week later, they denied the loan. Do I go elsewhere to finance or to another builder?
to fit Jamesnbarnes question, they said the no tradelines ( no score).
After looking at the entire picture, I realized that my file sat a the mortgage company without any review for 6 weeks. Finally when I started to ask questions and ask to talk with managers and finally the regional manager, I got a someone to look at it and then in two weeks, they glanced at it and without asking any questions or requesting additional info, they denied it.
May be a distinctive bank and a different builder. The builders bank may have a problem with him and not you. If one turn down stops you, you don't privation a house as much as you though. But it sounds like this builder didn't put the money you gave him to the bank and they may of you must want a 100% loan and most banks won't do a 100% loan on anything. You might check out what happened to your percentage. Did he refund you your 5K or what happened to that?
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I can't counter-statement your question directly, but maybe in part some information that could help you. It's great that you at least communicated with them on this consequence. And you need to keep calling and inquiring into their decision. Be nice, you gain more ground with being fine, than angry and mean. But I suggest you make at least partial payments. It shows resolute to do the right thing. After all you did promise to pay them. The thing about a short sale is they have to give their permission. And most lender won't do that until you've shown them you've made a attainment to sell. What you could do once you get someone on the phone again to inquire about a resolution is ask them about "deed in lieu of foreclosure". It does police station your credit, but it's much less than a foreclosure. 
Get ready @