Friday, November 27, 2009
Friday, November 6, 2009
Tuesday, November 3, 2009
CLASS ACTION SUIT FILED AGAINST WAYNE COUNTY SHERIFF
U.S. District Court
Eastern District of Michigan
Notice of Electronic Filing
The following transaction was entered by Nicoletti, Paul on 11/3/2009 at 6:02 PM EST and filed on 11/3/2009
Case Name:
Williams v. Wayne County Sheriff's Department et al
Case Number:
2:09-cv-14328
Filer:
Sherie Williams
Document Number:
1
Docket Text:
COMPLAINT {CLASS ACTION} filed by Sherie Williams against all defendants with Jury Demand. Plaintiff requests summons issued. Receipt No: 06450000000002218820 - Fee: $ 350. County of 1st Plaintiff: WAYNE - County Where Action Arose: WAYNE - County of 1st Defendant: WAYNE. [Previously dismissed case: No] [Possible companion case(s): None] (Attachments: # (1) Exhibit 2, # (2) Exhibit 2a) (Nicoletti, Paul)
2:09-cv-14328 Notice has been electronically mailed to:
Paul J. Nicoletti paul@nicoletti-associates.com
Eastern District of Michigan
Notice of Electronic Filing
The following transaction was entered by Nicoletti, Paul on 11/3/2009 at 6:02 PM EST and filed on 11/3/2009
Case Name:
Williams v. Wayne County Sheriff's Department et al
Case Number:
2:09-cv-14328
Filer:
Sherie Williams
Document Number:
1
Docket Text:
COMPLAINT {CLASS ACTION} filed by Sherie Williams against all defendants with Jury Demand. Plaintiff requests summons issued. Receipt No: 06450000000002218820 - Fee: $ 350. County of 1st Plaintiff: WAYNE - County Where Action Arose: WAYNE - County of 1st Defendant: WAYNE. [Previously dismissed case: No] [Possible companion case(s): None] (Attachments: # (1) Exhibit 2, # (2) Exhibit 2a) (Nicoletti, Paul)
2:09-cv-14328 Notice has been electronically mailed to:
Paul J. Nicoletti paul@nicoletti-associates.com
Thursday, October 8, 2009
Plan Confirmed after Sheriff's Sale and Redemption Period Expired!
History was made today when Antonio Attard's Chapter 13 Plan allowing for the cure of arrearage on home mortgage, was approved by the US Bankruptcy Court. This case is monumental since the home mortgage was foreclosed by the Lender and the state redemption period (6 months) has expired prior to the bankruptcy filing. The court confirmed the plan on the basis of 11 USC 1322(c)(1) which allows a Debtor to cure a default when the foreclosure sale is not conducted in accordance with applicable nonbankruptcy law.
For case details contact media@nicoletti-associates.com
For case details contact media@nicoletti-associates.com
Thursday, October 1, 2009
The latest updates in Forclosure Rates Nationwide
http://www.realtytrac.com/foreclosure/foreclosure-rates.html
Wayne County Foreclosures on the Rise
Wayne County Foreclosures on the Rise
An astounding 125,000 properties were foreclosed on in 2008 in Wayne County Michigan. The listings for 2009 tax foreclosures in the Wayne County paper alone is 137 pages deep with approximately 150 listings per page! For anyone who does not believe that foreclosures are a rising problem only need to look in their paper.
If you live in Michigan and are facing foreclosure, 1st Foreclosure Prevention can help you work with you lender to stop the foreclosure process and help you to save your home. Do not become part of the statistics. Stop foreclosure today.
An astounding 125,000 properties were foreclosed on in 2008 in Wayne County Michigan. The listings for 2009 tax foreclosures in the Wayne County paper alone is 137 pages deep with approximately 150 listings per page! For anyone who does not believe that foreclosures are a rising problem only need to look in their paper.
If you live in Michigan and are facing foreclosure, 1st Foreclosure Prevention can help you work with you lender to stop the foreclosure process and help you to save your home. Do not become part of the statistics. Stop foreclosure today.
As of July 5th, 2009, a new law took in effect to allow Michigan homeowners facing preforeclosure
As of July 5th, 2009, a new law took in effect to allow Michigan homeowners facing preforeclosure, ninety day reprieve from foreclosure. To take advantage of this law, the homeowner has 10 days to contact a nonprofit foreclosure organization concerning their preforeclosure who then must notify their lender within the same time frame that the homeowner wants to work-out a home solution (loan modification). The homeowner may also notify their lender of their interest in obtaining a loan modification. The 10 day alert starts once the notice is mailed to the homeowner informing them that the lender/servicing agent/bank is readying to foreclose upon the home due to a default of your mortgage. Due to this strict timeline, it is imperative that one opens all mail immediately from a lender even if you are afraid of the pending news, are in denial, unknowing, or just embarrassed. The homeowner must act to stop a pending foreclosure within ten days of receiving this letter.
Within the letter or notice, you will be given names and telephone numbers of nonprofit organizations within your community to contact to obtain a counselor, legal aide, or attorney. You will also receive a telephone number of the lender's attorney or representative who is handling your foreclosure. Once the lender is contacted by your advocate or yourself, then the lender must try to negotiate a loan modification with you during this 90 day moratorium time period.
If you don't call or get help, the foreclosure process will kick-in with a pending sale of your home at the court house. Once your home is sold at the sheriff sale it becomes harder and more difficult to obtain a loan modification. It is not impossible to stop a foreclosure, but a homeowner will face more bank and legal fees on top of the missed payments. Interest accrues daily.
If you think you have a predatory loan, struggling to make ends meet, have a true hardship, or are behind in your mortgage payments, insurance and/or taxes, if you want to save your home it is important to pick-up the phone and speak to an attorney or foreclosure home advocate. A foreclosure is not a foreclosure until the day of your eviction which is usually 6 months to 12 months (if one has 3 or more acres) from the sale of your home.
There is one other weapon to stop foreclosure and that is a forensic loan modification. Regardless of where one is on the foreclosure timeline, your original loan documents, truth-in-lending statements, and the appraisal can be audited to look for errors, fraud, predatory lending practices, and omissions. The findings can be used as leverage to obtain a loan modification that fits your circumstances and needs.
Within the letter or notice, you will be given names and telephone numbers of nonprofit organizations within your community to contact to obtain a counselor, legal aide, or attorney. You will also receive a telephone number of the lender's attorney or representative who is handling your foreclosure. Once the lender is contacted by your advocate or yourself, then the lender must try to negotiate a loan modification with you during this 90 day moratorium time period.
If you don't call or get help, the foreclosure process will kick-in with a pending sale of your home at the court house. Once your home is sold at the sheriff sale it becomes harder and more difficult to obtain a loan modification. It is not impossible to stop a foreclosure, but a homeowner will face more bank and legal fees on top of the missed payments. Interest accrues daily.
If you think you have a predatory loan, struggling to make ends meet, have a true hardship, or are behind in your mortgage payments, insurance and/or taxes, if you want to save your home it is important to pick-up the phone and speak to an attorney or foreclosure home advocate. A foreclosure is not a foreclosure until the day of your eviction which is usually 6 months to 12 months (if one has 3 or more acres) from the sale of your home.
There is one other weapon to stop foreclosure and that is a forensic loan modification. Regardless of where one is on the foreclosure timeline, your original loan documents, truth-in-lending statements, and the appraisal can be audited to look for errors, fraud, predatory lending practices, and omissions. The findings can be used as leverage to obtain a loan modification that fits your circumstances and needs.
Saturday, September 26, 2009
WHAT IS FORECLOSURE? MICHIGAN TIMELINE
Foreclosure is a legal process by which a bank, mortgage company or other creditor takes a homeowner’s property in order to satisfy a debt. The foreclosure is the result of non-payment of the mortgage (including second mortgages and home equity loans); however, people also lose their homes due to unpaid property taxes. As a result of the foreclosure (at the end of the redemption period), the homeowner loses the rights he or she had to the property.
FORECLOSURE TIMELINE:
Day 1-15
Mortgage payments are typically (not always) due on the first of each month. If the payment is not made by the due date it is considered delinquent.
Day 16-30
A late fee is usually assessed to the mortgage account after day 15. The first notice is usually mailed on the 16th of the month. You may begin getting phone calls at this time.
Day 31-45
A loan enters default when it is 30 days late, and a second notice is sent at that time. This default date will have a negative impact on your credit score.
Day 45-60
Servicer sends “demand” or “breach” letter to the borrower pointing out that terms of the mortgage have been violated.
Day 61-90
When a loan is 60 days past due, the lender may initiate acceleration procedures by sending a letter notifying the borrower that foreclosure is the next step. At this time the lender will only accept your total past due which includes: all past and current payments with late fees and interest.
Acceleration procedures include lenders refusing to accept any partial payments and requiring that the past due balance on the mortgage be paid in full, and can even mean that the lender will void any payment agreement and call the loan due in full.
Day 91-105
Servicer refers loan to foreclosure department. Hires local attorney or other firm to initiate foreclosure proceedings.
Depending on the state where the home is located, the servicer’s representative may record a formal notice of foreclosure at the local courthouse, publish details of the debt in the local newspaper, attend hearings on the case and make appropriate court filings.
Once acceleration begins, if you abandon the property or the property is red tagged, your home may be repossessed. This may include your locks beginning changed and your utilities are disconnected.
Foreclosure proceedings can start any time after the acceleration notice is sent, but usually happens when the loan is 90 or more days past due. This is when attorney fees become a significant part of the fees due. On average attorney fees will add about $2,000 to your total amount due.
Day 150-415
House sold at foreclosure sale or auction. Wide time range due to different state requirements. Foreclosure can happen in Michigan either by judicial action or by newspaper advertisement (sheriff sale). The most common foreclosure action in Michigan is by advertisement. In this procedure, the lender’s attorney advertises the property for sale in a general-circulation newspaper for four consecutive weeks.
The sheriff sale date is listed in the advertisement, and following the four weeks the county sheriff sells the property to the highest bidder (which is usually the lender).
The sale must be a public sale that happens between 9:00 a.m. and 4:00 p.m. and will be held at a courthouse. The sheriff or deputy usually conducts the auction and the winner will be the highest bidder.
The sale may be adjourned, and the notice of adjournment must be posted where the sale would have taken place. Adjournments will be published in the same newspaper where the original notice was advertised.
The officer conducting the sale will execute and deliver a “sheriff’s deed” for the premises to the highest bidder. The deed will specify the last date that the mortgagor can redeem the property. This deed must be recorded within 20 days of the sale, and the person recording the deed will endorse the date and time it was received on the document. If the property is redeemed the sheriff’s deed will be destroyed.
Borrowers in states with judicial foreclosures, or those in which lenders have to retake property titles via the court system, can get almost a year to straighten out their affairs before the sale. Those in non-judicial states have as little as two months.
Day 150-415+
After the property is sold at a sheriff sale the mortgagor has a redemption period during which time the property can be reacquired.
The redemption period in Michigan is usually six months, except in situations where there are more than four units; less than 2/3 of the original debt owed, multiple acres and/or abandonment occur.
In order to redeem the property at this point you must pay off the mortgage, all interest and late fees, court costs, attorney fees, title and appraisal fees. If the sheriff deed holder paid taxes or insurance after the sheriff sale, the mortgagor must pay those fees as well. Redeeming the property by getting another mortgage is very difficult because of the bad credit rating that resulted from the foreclosure. Redeeming the property by selling it on the market is often a good option. If the property is redeemed, the original rights and obligations of ownership are reinstated.
Thursday, September 24, 2009
The Most Recent Victory
Tammie R. Cude's property located at 7990 Jackson Street, Taylor, Michigan was sold at a Sheriff's Sale by Adrienne Sanders on November 21, 2007. The redemption period expired without being redeemed by the Borrower and Summary Proceedings were commenced by the Lender to evict the Borrower from the premises.
On 9/23/09, Hon. William J. Sutherland of the 23rd District Court in Taylor, Michigan, issued his Opinion and Order. The Opinion and Order not only granted the Borrower's Motion to Set Aside the Default Judgment but the Order additionally resulted in the Dismissal of the Summary Proceeding that was wrongfully filed by the Lender.
The Order based its ruling upon the defective appointment of Deputy Sheriff Adrienne Sanders. Read the full Opinion and Order by clicking here.
On 9/23/09, Hon. William J. Sutherland of the 23rd District Court in Taylor, Michigan, issued his Opinion and Order. The Opinion and Order not only granted the Borrower's Motion to Set Aside the Default Judgment but the Order additionally resulted in the Dismissal of the Summary Proceeding that was wrongfully filed by the Lender.
The Order based its ruling upon the defective appointment of Deputy Sheriff Adrienne Sanders. Read the full Opinion and Order by clicking here.
Sunday, September 13, 2009
Michigan's new Mortgage Foreclosure Law
Michigan's new foreclosure law becomes effective on July 5, 2009. The new law has some very good features such as:
1. Lenders must send a new notice to borrowers. In this notice, the lender must cite the reason for the foreclosure, the identifying information for the mortgage holder as well as the contact information of the person who, on behalf of the lender, has the authority to enter into any loan modification.
2. The notice referred to above also will include a list of housing counselors. This list is prepared by the Michigan State Housing Development Authority. Within 14 days after the notice is sent, a homeowner may request a meeting with the bank's contact person to discuss a loan modification. If the homeowner requests such a meeting, then foreclosure may not be started until after 90 days from the date of the original notice.
3. The homeowner can contact a housing counselor within 14 days of the letter, and the housing counsel will contact the lender's representative to set up a meeting. If the homeowner requests a meeting, then foreclosure may not start for a period of 90 days from the date of the letter. The meeting has to take place in the county where the property is located.
4. Beware, however, that after the borrower has requested a meeting, the lender has the right (and most likely will) ask the homeowner to produce certain financial information. The borrower must provide the requested docs. Most likely, this document request, at a minimum, will include tax returns, pay check stubs and bank account statement statements for the past three years.
5. If no agreement is reached between the lender and homeowner on the loan, then a separate analysis must be prepared to show whether the homeowner may have otherwise qualified for loan modification under a modified version of President Obama's Home Affordable Modification Plan (HAMP). Under this analysis, a homeowner may qualify for a loan modification if one's housing related debt ("HRD") is 38% or less of one's gross income, on an aggregate basis. HRD is determined by:
a. The interest rate may be reduced to a floor of 3% for a period of 5 years;
b. The loan may be amortized over a period of up to 40 years from the date of the loan modification;
c. Part of the unpaid balance of the loan may be deferred, up to 20%, until maturity, refinancing of the loan or sale of the property;d. Late fees may be reduced or eliminated.
Saturday, September 12, 2009
Defective Sheriff's Sale
If your home was in Wayne County and the home was lost via mortgage foreclosure during the time period from 2005 through 2007, you may be able to "get your home back" and file a lawsuit for damages resulting from the foreclosure.
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