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I recently saved A house from foreclosure in a very

I recently saved A house from foreclosure in a very expensive Chapter 11 bankruptcy. I had no problem debt other than the loan on a rental property on which arrears had accumulated. I'd been told the arrears would be rolled into the modified loan I was applying for under Making Home Affordable's HAMP 1 program. I had re-applied for 6 years, always with Bank of America, or the loan servicer to which BofA had handed the loan off in Year 4, requiring new copies of out-dated documents. I was not rejected until the new loan servicer said in Year 5 that my income was inadequate. They had determined it to be about half what it really is.I hired a lawyer, and he got them up to 80% of my real income, which they also rejected, and then finally, he got them to verify my entire gross monthly income of slightly over $10,000/month. In an exquisite Catch-22, they then declined my application for inadequate income, but a later explanation made me question that. They set a foreclosure sale date and managed to arrange things so that I didn't know I had thirty days to appeal. (I can fault my lawyer here. He knew, but didn't think to tell me. They had informed him by telephone, which was improper, and which meant that there was no letter he could forward to me.) I immediately complained to CFPB. I said that the process had been artificially delayed so that my arrears became too great for HAMP 1.The loan servicer responded to CFPB's request that they address my concerns. They repeated that my income was inadequate. To demonstrate that, they showed how they had calculated the allowable arrears, which is not derived from my income. The real reason they declined my application was excessive arrears. They found that they were not allowed to put enough of the current amount owed into the forbearance/balloon to yield a balance that HAMP 1 said I could afford. Well, they should not have been so helpful, because whoever wrote the unsigned letter revealed that they were doing the calculation wrong. HAMP 1 said they could put 30% of the capitalized unpaid principle balance into forbearance, but they had calculated 30% of my original balance (the one I had when I began applying for HAMP 1). That made a big difference, because by then my arrears were nearly half the size of the original balance. They also didn't do the last part of the HAMP process, which was to extend the loan term, if necessary, to create smaller payments (and incidentally much higher amounts paid over the life of the loan). I became curious about this, wondering if this had only been done in my case. Data from the US Treasury showed that this loan servicer had the very lowest HAMP approval rate of all the servicers they tracked. They approved only 12% of HAMP applications. I then found data on Bank of New York Mellon's investor site that showed that any loans they did modify were modified without any adjustment to the loan term. The 2006 tranches all had maturity dates in 2036, the 2007s in 2037, etc. Unless they calculated my allowable forbearance by hand, I assume that they did it wrong for all borrowers, because it would have been built into whatever software they used to determine the net present value of a modified versus unmodified loan.If a fraud examiner were brought into a class action suit against this loan servicer, do you think she or he would find some nicely smoking firearms? Are you familiar with any litigation over matters like these that would supply optimism for a borrower like me? I went through far more than was necessary to get my interest rate dropped from 6.375% to 4%. I couldn't re-fi in 2012 or 2013 because my inflated balance was still too high, and by then the arrears were sky high, too.Additional atrocities attached. The long and short of it is that my HAMP applications were not handled honestly, which I think amounts to fraud. Do you?

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We were scheduled to close on a home on September 7. I set

We were scheduled to close on a home on September 7. I set utilities in our name to continue service and avoid disconnect/reconnect fees on the same date as the seller's cancellation. Closing was delayed, and on the 12th, we stopped by the house to peek in Windows because we found out the house was vacant, only to discover a massive leak in an external wall. We immediately called our agent and the water company so the seller could make repairs. On the 14th, we reinspected the home only to find no more running water, and wet paint over a distorted internal wall, and a wet external wall. There was no evidence of the wall being cut open to inspect insulation or subflooring. Due to concern of mold, which is heavy in this region, we tried to cancel the contract. Now, the seller's are threatening to sue us for damage because the water was in our name if we don't continue with the purchase, and allow them to make repairs. What are our rights/responsibilities, and who would win if there were a lawsuit?

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Loren

Juris Doctor

37,218 satisfied customers
To Eli I received an email from you after I contacted

To EliI received an email from you after I contacted management who must have alerted you.I have been a member with just answer for some time.Question:What areas of law do you practice?

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Ely

Counselor at Law

Juris Doctor

64,650 satisfied customers
I actually have questions regarding being a condo homeowner

I actually have questions regarding being a condo homeowner and my rights concerning the association management company and Board of Directors.JA: Because real estate law varies from place to place, can you tell me what state the association is in?Customer: I just arrived at your website and if I can chat with you great but thought I may be in the wrong category?JA: Has any paperwork been filed?Customer: I believe they have filed a lien but not entirely sure.JA: Anything else you want the lawyer to know before I connect you?Customer: I feel harassed, ganged up upon and that they are not willing to work with me. I have let it go for years....

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Irwin Law

Juris Doctor JD

8,842 satisfied customers
A "designer" from our local power company gave me a proposal

A "designer" from our local power company gave me a proposal today for an easement giving it and the telephone company aligned with it the right to make specific changes to our property: cutting down parts of trees (and in some instances perhaps felling entire trees), as well as installing a 45-foot telephone pole to replace the existing 35-foot pole, to accommodate an increased power load in new wires that will replace those in place now. This will occur on both sides of the gravel road we live on--and both sides of which we own for a couple of hundreds of yards or so. One provision states that the rights we are giving up will exist "forever," as the need exists to make addition changes down the road.So if these are their rights, what are ours? --Many thanks.

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Gerald-Esquire

Juris Doctor

5,312 satisfied customers
What is the Georgia law or regulation... What is the Georgia

What is the Georgia law or regulation...What is the Georgia law or regulation governing a person's right or ability to assume a debt in a real estate transaction if they have dual citizenship and live in another country? Is it the lending institution's discretion to deny a person the right to engage in that transaction?26 August 2016 11:30

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

47,238 satisfied customers
My question is on the term/type of agreement we have. The

My question is on the term/type of agreement we have. The agreement is titled Independent Living/Retirement Community Lease agreement.JA: Because laws vary from place to place, can you tell me what state the property is in?Customer: I am in Norfolk VAJA: Have you talked to a lawyer yet?Customer: NoJA: Anything else you think the lawyer should know?Customer: Yes my question is about the contractural time needed to present a rent increase to the renter

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Ely

Counselor at Law

Juris Doctor

64,650 satisfied customers
My mother recently passed away; however, her home has been

My mother recently passed away; however, her home has been in my brothers name since 1999. She always kept home insurance in her name. My mother remarried and her husband is still in the house but knows he has to move because my mother wanted her house sold when she passed. Her husband has continued the home policy but has change it from my mothers name to his name. If something happens to the home, who collects,the person on the title of the home or the person on the policy?

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Ely

Counselor at Law

Juris Doctor

64,650 satisfied customers
In the State of South Carolina can a Condo HOA force me as

In the State of South Carolina can a Condo HOA force me as an owner to buy WIFI if I don't want it? I received a letter stating that if the majority want it then I have no choice and my HOA dues will go up

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Damien Bosco

Attorney

Doctoral Degree

3,130 satisfied customers
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