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Tennessee Foreclosure Process-Detainer Warrants

Tennessee Foreclosure Lawyer

What is the Tennessee foreclosure process? How does the Tennessee foreclosure process work? What happens if I receive a detainer warrant in Tennessee? What is the Tennessee foreclosure process timeline, and how do I prevent a foreclosure in Tennessee? Why was my loan modification denied in Tennessee? What can I do Stop the Bank from Foreclosing? What is the Tennessee foreclosure procedure, what and are my rights?

I get a lot of people asking me these exact questions when they are facing foreclosure in Tennessee. Most people just want to know what they can expect with a Tennessee foreclosure, what the Tennessee foreclosure timeline is, and what they can do to prevent a foreclosure in Tennessee. It is always scary for the homeowner, who has often already had the run around from their loan servicer and bank. Some people are offered loan modifications, forced to submit and resubmit paperwork– just to be denied for reasons that they cannot understand. This can be scary and frustrating because the homeowner has oftentimes submitted all of the paperwork they have been told to submit, but told that somehow the submitted paperwork was incomplete. It seems like there are no good answers from lenders, loan servicers, or banks about the foreclosure process and where to get help with a Tennessee foreclosure. It’s not hard to understand why you as a Tennessee homeowner facing foreclosure may be reluctant to trust anyone in the foreclosure process. It isn’t your imagination—it is difficult to find anyone that is willing to help with Tennessee Foreclosures. As the foreclosure process in Tennessee may seem confusing, I wanted to give some very simple basic information on what the homeowner can expect.

The non-judicial foreclosure process in Tennessee can generally be broken down in to two parts- foreclosure and eviction. It is best to try to stop or prevent a foreclosure in Tennessee, than it is to fight a foreclosure after it has already happened. Foreclosure in Tennessee is usually started when the lender, loan servicer, the bank, or their Attorney, writes the homeowner a letter alleging that the homeowner is late on payment. A “Notice of Sale” or “Notice of Substitute Trustees Sale” follows which informs the homeowner of an impending sale of the property, a specific date, and a specific time is given for the sale. This date is very important as it requires action from the homeowner- do not wait to do something if you get this Notice. The longer you wait the harder the foreclosure process becomes. Bank/servicer foreclosure lawyers or other attorney’s office usually sends the “Notice of Sale” or “Notice of Substitute Trustees Sale.” Foreclosure notices in Tennessee can be sent from any law firm the bank or servicer decides to hire. Generally the law firms are hired to do the paperwork for the foreclosure sale and deal with any legal problems that arise with the foreclosure process. PLEASE BE ADVISED- the bank hires a lot of qualified lawyers, most of which have years of experience on these cases. They are hired to make sure the foreclosure process goes through. I have dealt extensively with Tennessee foreclosure issues over the years and know that doing a foreclosure lawsuit pro se (on your own) is ill advised. Often times the bank or servicer’s lawyers do not know the entire battered history you may have as a homeowner, and facing the Court system alone is not the best way to approach these problems. There is a time and place to air these concerns; you just have to know when and where it is appropriate.

The foreclosure lawyers represent the loan servicer or foreclosing bank – ie: Bank of America, US Bank Trust, New York Bank of Mellon, Ocwen, Wells Fargo, ASC, MERS (MERS is a different issues), Indymac Bank, Countrywide, America’s Wholesale Lender, Green Tree, Nationstar, New Century, and JP Morgan Chase, just to name a few. Once the servicer has set a date, it can be postponed either by the servicer or bank, or by taking direct legal action to prevent the Tennessee foreclosure. There is a strict timeline to act when you receive the “Notice of Sale” if you want to act– don’t put action off if you believe something isn’t right. Do not wait until the last minute, as it becomes harder (although not impossible) to do anything after the Tennessee Foreclosure sale has taken place. Recently, the banks have been arguing that if you don’t speak up about a wrongful Tennessee foreclosure, you may waive your rights to bring the issue up later (and some Courts are agreeing!).

The next part of Tennessee foreclosure process deals with eviction. Just because the house has been foreclosed on in Tennessee, does not necessarily mean that the homeowner will lose possession of the property immediately. The Tennessee foreclosure eviction process starts after the homeowner is given a detainer warrant. The Sheriff generally serves a detainer warrant in Tennessee to the homeowner. The Tennessee detainer warrant is the way that the servicer or bank tries to get the homeowner out of the property following a foreclosure sale. It is very important that if you get served with a detainer warrant that you make sure and know your legal rights concerning the legality (or illegality) of the Tennessee Foreclosure sale. Make sure to read and follow all instructions made to you by the Court where the Tennessee detainer warrant was filed following a Tennessee foreclosure sale. When the Tennessee homeowner is sued by the bank or servicer for possession of the house he or she must bring up all the issues concerning the foreclosure or may lose their rights to do so forever. If possible, try to prevent the Tennessee foreclosure before it gets to the eviction phase. My recommendation is that you do not wait until the Tennessee detainer warrant process has started after a Tennessee foreclosure sale, however if you do, do not sit on your rights as you will need to act if you want to save your home in Tennessee.

If you are having trouble with foreclosure in Tennessee, trouble with your servicer, bank, trouble with your loan modification, need to know you rights or have your paperwork reviewed to see if you are potentially a victim of a fraudulent foreclosure in Tennessee, or have other questions concerning Tennessee foreclosure prevention, Tennessee foreclosure procedure, or Tennessee foreclosure postponement, please email me at John@HigginsLawFirm.Net or call 615-496-1127.

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Tennessee Court Stops Wells Fargo Foreclosure -Banks Motion DENIED


Williamson County- Wells Fargo Bank’s Motion to Dismiss is denied. A Williamson County homeowner, who signed a Mortgage in 2006, to now bankrupt defunct lender New Century Mortgage Ventures, LLC, was given relief by a Williamson County Court. The homeowner had not missed a payment until she was instructed to stop paying by Wells Fargo bank. The Tennessee homeowner had previously received a notice to start making her payments to America’s Servicing Company (a division of Wells Fargo) who claimed they were the “servicer” of her Mortgage. The Tennessee homeowner, who is a single mother, lost her second job and called the Bank to see if she would qualify for any tax-payer funded loan modification programs (the Banks were given 30 Billion Dollars to help out Americans- to date less than 2% has reached eligible Americans).

The homeowner was instructed to fall behind on the payments in October of 2011 in order to qualify. In November 2011, the homeowner received a letter from Wells Fargo Bank telling her that they were going to institute Tennessee foreclosure proceedings on her home (after the Bank told her to stop paying!) The letter was referred to as “Notice of Right to Foreclose” but did not describe how Wells Fargo (or ASC) acquired any rights from her original lender New Century/Netco (the company that was registered with the Williamson County Clerk as the owner of said property at the time).

Homeowner was given a “reinstatement” quote to get current on the 2 payments they claimed she owed. The letter stated that she would need to pay Wells Fargo past due payments of $3,575.48, a late charge fee of $1,795.86, other fees of $260.00, all totaling $5,631.34, due in full in January, 2012 to avoid acceleration and default. Her mortgage payments were only around $1,000 to begin with ! (keep in mind Wells Fargo instructed homeowner not to pay). The Tennessee homeowner submitted a certified check to Wells Fargo before the January 2012 deadline for the full amount but the check was sent back to her. The Tennessee homeowner was informed that payments were not accepted while in the loan modification process. While the homeowner was sending correspondence to Wells Fargo for the “loan modification,” Wells Fargo made her resubmit paperwork, did not return her calls, and kept sending more and more paperwork for her to fill out stating that she had not done the paperwork correctly. While the Tennessee homeowner was doing this, she got a letter from Wilson and Associates, the Foreclosure Attorneys for Wells Fargo. The letter stated that Wilson and Associates was conducting a trustee’s sale on her home. The Tennessee homeowner was never provided any additional notice of who the foreclosing party was, or what, if any, right they had to foreclose.

The Tennessee homeowner received a Notice which stated that Wilson and Associates had been appointed as Successor Trustee of the property and was going to face a Tennessee foreclosure. The homeowner received a letter from Wells Fargo 2 days later that the Bank “would continue to review her paperwork for a loan modification.” The homeowner spent the next 4 months submitting paperwork, being told that her paperwork was defective, citing minor errors for the delay, weeks of resubmission of paperwork, asking the Tennessee homeowner for information that they previously did not ask for, and weeks of lapse of communication with Wells Fargo. During this time, she was not allowed to make payments to anyone. Wells Fargo then denied her a taxpayer government funded loan modification stating that her paperwork was incomplete (this was all because she was going to be late on one payment).

The foreclosure attorneys conducted a non-judicial “foreclosure” sale on behalf of US Bank National Association, as Trustee for Citigroup Mortgage Loan Trust Inc. 2006- NCI, Asset Banked Pass-through Certificates Series 2006-NCI (their name was never mentioned before to anyone and didn’t appear anywhere in the public record). The Tennessee homeowner facing foreclosure contacted Tennessee State Attorney General’s office who contacted Wells Fargo directly and demanded they provide a reinstatement quote/modification review the “foreclosure” sale, After 2 months, the homeowner was provided with a reinstatement quote. The reinstatement quote was for $27,669.87! (all for asking what her options were to miss a $1,000 mortgage payment!!), and was to be paid directly to the foreclosure attorneys who would give the money to Premiere Asset Services (a company that is owned by Bank of America). The Tennessee homeowner who faced a non-judicial foreclosure was given a quote including many itemized costs, late fees, and attorney’s fees. Homeowner could not pay the full amount because it included late charges, attorney’s fees, and foreclosure costs incurred because of Wells Fargo’s instructions to the Tennessee Homeowner not to pay. The “foreclosing” Bank had refused payments from the homeowner while she was being considered for a loan modification.

Wells Fargo’s counsel (acting for US Bank) later made an admission that Wells Fargo (who was not listed on the foreclosure documents provided to the State) was the foreclosing party. Wells Fargo is not mentioned anywhere in any public documents, and their name is not registered to the property with the Williamson County Register of Deeds. (The “foreclosing” Banks attorneys “sold” homeowners property directly to US Bank National Association, as Trustee for Citigroup Mortgage Loan Trust Inc. 2006-NCI, Asset Banked Pass-through Certificates Series 2006-NCI-confused yet?)

Amidst many allegations, including fraud, the homeowners original lender, the defunct non-party New Century Financial Corporation and its related entities filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court, District of Delaware. The Delaware Bankruptcy Court ordered that all claims related to the Bankruptcy had to be filed by April 2, 2007. There is no evidence of any authority having jurisdiction of the New Century Bankruptcy to permit one of its subsidiaries, or anyone, to assign a Mortgage loan out of the Bankruptcy (New Century has been closed since in Tennessee since October 29, 2007). There is no evidence that the property was ever assigned out of the Bankruptcy (as it wasn’t) and no claims to the property were ever made by Wells Fargo, US Bank, or Bank of America.

The Williamson County Court found that there wasn’t any evidence in the public record to show how Wells Fargo got an interest in the home. This is because they never did and had been taking the homeowners payments without any right to do so for years. The homeowner was required to post a cash bond (which she had saved up because she was honestly trying to make payments when they were denied). Wells Fargo’s motion to dismiss the proceedings and take the home were denied. The homeowner was granted a stay. If this story sounds familiar to you or you think you may be the victim of foreclosure fraud in Tennessee, please contact my office or email me at for assistance.

A wise man (founder of the State of Tennessee and drafter of the Tennessee Constitution) said:

“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson, 3rd president of US (1743 – 1826)

Please call your State and Federal Representatives and demand that the Banks stop these practices and to stop the legalization of the secret private mortgage database corporation Mortgage Electronic Registration Systems (MERS). The Banks are planning on passing laws that legalize these practices and use our tax money to do it. Don’t let this behavior continue- they are using our money to take homes they don’t own. I can only help one person at a time, but together, we can all make a difference.

John Frank Higgins

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Bank of America Foreclosure Stopped in Tennessee – SUCCESS

A Wilson County Tennessee Court stopped a Foreclosure by Bank of America today. Bank of America (represented by Shapiro and Kirsch), was attempting to foreclose in Tennessee on a Note they claimed was held by the Federal National Mortgage Association. The forelcosure was stopped by a Wilson County Judge. The home owner did not take out the loan with Bank of America. The Tennessee homeowner facing foreclosure took it out with Wilson Bank and Trust. After a few months of paying the original lender he began receiving threatening letters from Countywide (whom he did not know). The Tennessee homeowner was then offered a “trial loan modification” by Countrywide/Bank of America (who did not lend him any money). He paid the amount that Countrywide/Bank of America told him to pay (as he didn’t know better), and was later told that the “trial loan modification” was denied and that he was delinquent on his loan because the “trial loan modification” payments weren’t the full amount he was supposed to be paying.
The Tennessee homeowner was then placed in default on his home “mortgage” by Bank of America in Tennessee. Bank of America then asked the Tennessee homemowner to submit paperwork for a loan modification under HAMP (which Bank of America claimed they never got). Bank of America eventually asked him to send a huge $10,000 cashier’s check (the mortgage payments were only $800 to begin with) to catch up on payments (which he never missed). Bank of America (now claiming to act as Countrywide) accepted the payment but credited the payment to his principle and refused to bring him current on his loan and began foreclosure proceedings in Tennessee.
This is a temporary victory but a big victory in the overall fight against Wrongful Foreclosure’s in Tennessee against the Banks who are taking houses they don’t own. Attorney Jeff Barnes Esq. and myself acting as the local counsel on this case have been successful on our quest to fight Banks Foreclosing on homes in Tennessee. Please email at me or call if you need help with Foreclosure in Tennessee against Bank of America or any other Bank who is acting wrongfully.

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Bank Foreclosure Settlement Tennessee

The bank foreclosure settlement applies to the people of Tennessee. There are many questions that people want answered. How do I get a check for the bank foreclosure settlement in Tennessee? What are the Bank foreclosure settlement details? Am I eligible for the big bank foreclosure settlement? If my house was foreclosed on by Bank of America, Wells Fargo and JPMorgan Chase will I be eligible for a payment? What other mortgage companies are giving money for a foreclosure that happened on my home in Tennessee?   What if my house was foreclosed on in Tennessee during the years of 2008-2010?

In my years of experience with the Big banks and Tennessee foreclosures I have come to the conclusion that the Banks have to be forced to do the right thing. They can’t be taken at their word. The Banks were given a tremendous amount of money under the National Foreclosure Settlement to reduce principle balances on home loans in Tennessee. The Banks in Tennessee were also to do loan modifications. They have not made good on their promises to do so.

The Banks have created a process, where they ask you to submit paperwork, and refer you to a representative about your situation. Many people have complained that after the paperwork was sent in, the Big Banks denied receiving the paperwork or that there was an error with the submission. The Banks often have denied the loan modifications to stop the Tennessee foreclosure for no reason. Some banks returned checks that were sent to them causing the Tennessee homeowners mortgage bill to be too high for them to catch up on the payments (add late fees to this as well). The Banks told some Tennessee Homeowners to stop paying their mortgages so that the loan modification specialists could review their situation. After being told not to pay, the banks denied the loan modifications sent a Notice of Substitute Trustees sale and foreclosed on the homeowners.  This happened to homeowners that had been trying to work with the bank to resolve the problem. If any of this sounds familiar it’s a story that I hear everyday.

The Big bank Regulators were conducting a mortgage review process for people that had been foreclosed on in Tennessee. The Tennessee mortgage review sought to determine if specific loans were unfairly foreclosed. The regulators have determined that this was too costly and time-consuming. This is why there is now a new Big Bank deal which includes 10 mortgage companies, including Bank of America, Wells Fargo and JPMorgan Chase. The Banks have agreed that they will pay $8.5 billion. Of that with $3.3 billion in direct payments to “eligible borrowers.” “Eligible borrowers” are people whose foreclosures were handled improperly. The remaining $5.2 billion is supposed to be given to struggling borrowers with programs such as loan modifications.This new deal is separate from the $25 billion mortgage settlement involving five large banks and the state attorneys general, including Tennessee, earlier this year.   The banks misconduct with that was the same as it was with HAMP and all other attempts to make the Banks do the right thing. For more than five years in Tennenssee, mortgage companies have made errors in the management home loans. The banks handling of the Tennnessee foreclosure cases pushed many people into foreclosure. This all needs to stop. The only way that the banks will do the right thing is if they are forced to do so. They have shown the people in Tennessee time and time again that they do not want to play by the rules. If you think that you should receive a check through the settlment, I would be happy to schedule a time to review your situation and discuss whether or not you have legal options. Please feel free to email me at John@HigginsLawFirm.Net to schedule a consultation. Know your rights before you deal with the people who wronged you in the past. John Frank Higgins

Other lawsuits I have against the banks:


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Foreclosure in Tennessee

Foreclosure in Tennessee
There are many rumors about foreclosures floating around the great State of Tennessee. People are asking themselves whether or not the issues pertaining to MERS, Securitization of their home loans, and other activities that banks have engaged in, will actually mean anything in this State. Most people don’t realize that our great State has a long tradition in property laws. Our State was founded by a person who understood and recognized what would happen if the banks and the puppet corporations that would carefully conspire to do their servicing. The banks have created an illusion and want totake over our lives and our homes.

Thomas Jefferson, whom was a founder of the of the State of Tennessee and author of the Tennessee Constitution said
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it
properly belongs.”

According to Jefferson, the banks like Wells Fargo, Bank of America, Chase, and the corporations that have grown up around them, like MERS and other Tennessee foreclosure mills, will deprive people of their property as they are attempting to do all around the State. The people of Tennessee have property rights, and need to stand up against this injustice that is plaguing our land.

We all put a lot of trust in our banks. We keep our money there. We get money there to purchase our homes. The banks have used this trust to create a scheme to take over your home. They lent money to many people who could not afford the homes that they bought, and set up a way to profit many times over. What people need to realize about foreclosures, is that our property laws were set up to protect us from these the banks MERS and other practices.
When someone lends you money for your home and they are paid back for it, from anyone, the home belongs to you. Even if you weren’t the one to directly pay for it. Foreclosures in Tennessee are not what they seem, and the banks who are foreclosing on your home may have lost the interest they had to do so. Our laws and our founders saw this
coming and put in place safeguard against foreclosures from people who already got paid in one way or another from
stealing your home. If you have questions about your rights or want to understand more about the foreclosures in the State of Tennessee, please email or call me, I will be happy to discuss.

John Frank Higgins

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Tennessee is seeing a huge rise in foreclosures. There is also a huge rise in scams involving the subject matter. There are people who are trying to wrongfully cash in on the foreclosure situation by promising people who are facing foreclosure that by getting a very expensive loan audit and hiring an out of state attorney to file a lawsuit in Tennessee Federal Court you will get a free house. This is simply untrue. It is true that some banks that are trying to foreclose on homes may not have the right to be doing so. Many of the foreclosures in Tennessee that are being brought by banks are done without the real legal authority to do so. It is true that they may not have the right to take your home.  But, there is also a rise in Tennessee of people, many of whom are not lawyers that are claiming that they provide “loan audits” that will reveal the banks fraud, or give you other legal advice. These predators are not attorneys but are giving advice based on some their limited understanding about the Tennessee bank foreclosure problem. There are a lot of rumors floating around out there. There are people coming out of the shadows who are not legally licensed to give advice advising about loan modifications, short sales, or making half informed claims that if there is securitization in your home loan, that your home loan will be completely forgiven. IT IS A CRIME FOR ANYONE WHO IS NOT LICENSED TO PRACTICE LAW IN TENNESSEE TO GIVE LEGAL ADVICE. PERIOD. These “non-lawyers” are trying to profit on your misfortune by charging huge sums of money for a loan audit, and promising that with the results of the loan audit, they will get you a lawyer from out of the State of Tennessee to file a lawsuit in Tennessee Federal Court to stop the bank from foreclosing on your home in Tennessee.  Oftentimes, these “loan auditors” are “friends” and have no qualifications to conduct loan audits. Just because someone worked for a bank or a mortgage company does not mean that they are an experienced qualified or certified forensic loan auditor.

Sadly, promises are being made to homeowners that are desperate to stop their home from being foreclosed on that the only answer is paying for an expensive loan audit and hiring a lawyer from another state that is going to file a lawsuit and get the loan erased. Be careful when you encounter this type of transaction. Anyone that is not a licensed Attorney with the Tennessee State Bar who is telling you where or how you need to move forward in a Tennessee foreclosure lawsuit is breaking the law. Anyone who is giving you advice as to what to do with a loan audit is giving legal advice, and practicing law without a license. Anyone who has encountered anyone involved in this practice needs to contact the Tennessee State Attorney General so that they may be prosecuted for practicing law without a license. Be especially careful when choosing a loan auditor. There are many scams out there. Make sure you know someone who has used the loan auditor or you can see a sample of the finished audit.  Anyone that promises a guaranteed outcome with some special out of state special lawyer is not being honest. If you are facing foreclosure, don’t let anyone who is not licensed to practice law, play off of your fears, hopes, and make promises that your loan audit will reveal that your loan was “securitized” thus entitling you to a free home. It is not that simple, and don’t let anyone trick you into thinking that it is. I have extensive experience in bank foreclosure cases involving securitization. Yes, it is true that a forensic loan audit could reveal that there are problems with the banks claim that they own your loan, or have a right to foreclose on your home. A true certified forensic loan audit can be a very useful tool to understand whether the deed of trust and the note are intact, and give the bank the legal right to foreclose on your home.  Remember though, only a licensed Tennessee Attorney can give you legal advice on a Tennessee Foreclosure Lawsuit.

There are very few Attorneys in the State of Tennessee that have experience with complex Tennessee Bank mortgage securitization issues. Don’t be talked in to doing a short sale by an Attorney who is recommending that because they don’t have a real understanding of the complex issues that Tennessee Bank Foreclosure cases present. Short sale may be an option, but you certainly need to look at all options before you consider a short sale on your house. Remember, the Tennessee bank foreclosure fraud that has been rampant in other states is relatively new to Tennessee. There are no clear cases to look at in Tennessee yet. Hopefully this will all change very soon. If you have any questions about your Tennessee Mortgage, your bank, a forensic loan audit, or want to discuss if filing a lawsuit is your best option to stop your home from being foreclosed on, please email me or call and I will be happy to confidentially discuss your specific situation. Beware of anyone making promises, holding themselves out as a loan auditor, or giving you any bank foreclosure advice, especially if they are not licensed to do so.



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Tennessee Foreclosure and MERS

What is MERS? People who are facing foreclosure in Tennessee always want to know about MERS. People want to know if they see the word MERS on their deed if that will help stop foreclosure in Tennessee. MERS is short for the Mortgage Electronic Registration System. It has been defined by a Kansas Court as:

“A private corporation that administers the MERS System, a national electronic registry that tracks the transfer of ownership interests and servicing rights in mortgage loans Through the MERS system, MERS becomes the Mortgagee of record for participating members through assignment of the  Member’s interests to MERS. MERS is listed as the grantee in the official records maintained at country register of deeds offices. The lenders retain the promissory notes, as well as the servicing rights to the mortgages. The lenders can then sell these interests to investors without having to record the transaction in the public record. MERS is compensated for its services through fees charged to participating members.” Landmark Nat. Bank v. Kesler, 216 P.3d 58, 164 (Kan. 2009)

What does that mean in english? MERS is a small corporation that is basically a database. The MERS database is used to keep track of mortgage transactions between banks. It can be used to trace how or when the banks sold mortgages to one another. It is unsettled in Tennessee as to whether this is a valid way to transfer property Although there hasn’t been any cases that have decided the issue, very likely that Tennessee is going to follow the trend and keep land conveyances the responsibility of the State and Local Officials. The state of the law nationally as to MERS has overwhelmingly decided that MERS, as a “nominee,” cannot assign promissory notes in which it never had any interest and thus also cannot assign mortgage instruments.

Given the widespread corruption that has gone on in recent years concerning Mortgages and Banks because of the lack of any oversight, it would make more sense that Tennessee would go with the majority of the Country and leave Tennessee Register of Deeds in Charge. If you see MERS on your property deed it doesn’t automatically mean that there is a problem with your mortgage but it is definately a red flag. The property laws in this country are well established and  have proceedural safe guards that are meant to stop the fraud we are seeing recently with banks and their misuse of the MERS System in Tennessee.  If you have any questions about your Deed of Trust, Note, Foreclosure or MERS  shoot me an email or please call and i’ll be happy to discuss.

John Frank Higgins

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How much do you have to owe to file bankruptcy?

How much do you have to owe to file bankruptcy? Filing for Bankruptcy in Tennessee is a difficult decision. Most people want to know if Bankruptcy in Tennessee is the right option or not. It’s a hard subject to deal with and it’s even harder to ask people “How much do you have to owe to file bankruptcy?” The answer depends on every situation. But the best way to tell is if you are making less each month than you owe. That sounds like everyone I know. But there is also a means test that a Tennessee Bankruptcy Attorney can run to determine whether or not based on what you owe and what you own if Bankruptcy is the right option for you. If you want to discuss Bankruptcy in Tennessee and your options please give me a call and i’ll be glad to talk with you about it.

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Tennessee Banks won’t stop foreclosing on homes and mortgages they don’t own

Banks in Tennessee are still trying to foreclose on houses that they don’t own. People in Tennessee paying Mortgages are facing foreclosures from imposters.

All too often I get calls from people who are in their homes and facing foreclosure in Tennessee. They have been speaking to a
representative from the bank who keeps promising to “review” the file, and consider them for a Tennessee Loan modification. The banks representatives put them off, give them the runaround and then foreclose at the end and claim that they never had any contact with that person.
In Tennessee, there are very particular requirements for a bank to be able to foreclose on a home. The most important to note is that the Bank trying to foreclose in Tennessee has to ACTUALLY OWN THE HOME. If they don’t own the home and can’t prove their interest, they are not allowed to take it. The scam that the banks are trying to pull are so big that most people don’t believe it.

In a lot of cases there are people in Tennessee who are paying Mortgages to the bank, and by doing so they are paying an imposter.

People in Tennessee could already own their house and not even know it.Everyone wants to trust the bank and they are afraid to go against them, but you should at least know what is going on before you give up and let the bank foreclose on a mortgage in Tennessee.  They don’t own it just because they say they do. Learn more about what is going on or call me to discuss.

The article below from Ben Hallman shows what is in store if the Banks in Tennessee don’t stop the wrongful foreclosures that
they are committing. The particular bank that was involved was Wells Fargo, but all of them are engaged in similar practices.
If you are facing a foreclosure don’t take the banks work for anything, find out the truth before you do anything.

Wells Fargo Slapped With $3.1 Million Fine For ‘Reprehensible’ Handling Of One Mortgage
Ben Hallman

A federal judge who has fiercely criticized how big banks service home loans is fed up with Wells Fargo.
In a scathing opinion issued last week, Elizabeth Magner, a federal bankruptcy judge in the Eastern District of Louisiana, characterized
as “highly reprehensible” Wells Fargo’s behavior over more than five years of litigation with a single homeowner and ordered the bank to pay the New Orleans man a whopping $3.1 million in punitive damages, one of the biggest fines ever for mortgage servicing misconduct.
“Wells Fargo has taken advantage of borrowers who rely on it to accurately apply payments and calculate the amounts owed,” Magner writes.
“But perhaps more disturbing is Wells Fargo’s refusal to voluntarily correct its errors. It prefers to rely on the ignorance of borrowers or their inability to fund a challenge to its demands, rather than voluntarily relinquish gains obtained through improper accounting methods.”
The opinion reflects Magner’s disgust with tactics that Wells Fargo used to fight the case — and perhaps frustration with an appeals court ruling in a separate, but similar case, that overturned her order that would have forced Wells Fargo to audit and provide a full accounting for more than 400 home loans in her jurisdiction.
As The Huffington Post previously reported in a story co-published with The Center for Public Integrity, sources familiar with the preliminary findings said that the bank made costly accounting errors in the administration of practically all of those loans.
In an emailed statement, Tom Goyda, a Wells Fargo spokesman said: “The ruling handed down by the court in an individual bankruptcy case covers allegations going back more than six years and ignores significant changes in servicing practices that have occurred since that time. We believe that there are numerous factual and legal problems with the opinion and are reviewing our options regarding an appropriate legal response.”
Goyda said that an appeal of the ruling is “one option” the bank is considering.
Despite widespread reports that the banks and other companies that service home loans engaged in a range of misconduct — from ordering unnecessary property inspections to misapplying payments in a way that can lead to wrongful foreclosure — few judges have had the time, ability or inclination to do the kind of forensic analysis necessary to uncover wrongdoing in individual cases. For a non-accountant, reading a loan history is like interpreting hieroglyphics without a Rosetta Stone, and banks are often reluctant to turn them over in the first place.
The exceptions have tended to come in federal bankruptcy courts, where justices typically have more time to dig into loan accounts, and are much more likely to have the financial expertise necessary to do so. In an earlier interview, Magner said that she analyzed the loan files of more than 20 borrowers in her court and found mistakes in every instance.
“These are loans of working-class people who bought homes they could afford and whose loans were not administered correctly from an accounting perspective,” she said. “I think that these types of problems occur in almost every [defaulted] loan in the country.”
The current case involves Michael Jones of New Orleans. In a 2007 decision, Magner ruled that Wells Fargo improperly charged Jones more than $24,000 in fees, owing to a fundamental problem in the automated methodology the bank used to account for his loan payments. After Jones fell into default, Magner ruled, the bank improperly applied his mortgage payments to interest and fees that had accrued instead of to principal, as required by his servicing contract. This triggered a waterfall of additional fees and interest that consumer lawyers call “rolling default.” Later, after Jones applied for bankruptcy, the bank continued to misapply payments, according to Magner’s opinion.
In the most recent opinion, Magner describes Wells Fargo’s litigation tactics, which involved filing dozens of briefs, motions and other filings that slowed down the proceedings to a snail’s pace, as “particularly vexing.” The tactics suggest that any other borrower who might wish to contest a fee or charge would find a legal challenge to the bank simply too burdensome.
And yet, Magner writes, it is only through litigation that the abuses can be uncovered. Calling Wells Fargo’s conduct “clandestine,” Magner wrote that the bank refused to communicate with Jones even as it was misdirecting payments for improper purposes.
“Only through litigation was this practice discovered,” Magner writes. “Wells Fargo admitted to the same practices for all other loans in bankruptcy or default. As a result, it is unlikely that most debtors will be able to discern problems with their
accounts without extensive discovery.”
Magner wrote that the bank still refuses to come clean with homeowners about mistakes it made in the accounting of home loans. This is particularly troublesome in her district, where more than 80 percent of the borrowers who file for bankruptcy have incomes of less than $40,000, and consequently are often unable to hire the kind of legal firepower necessary to counter Wells Fargo’s army of lawyers.
“[W]hen exposed, [Wells Fargo] revealed its true corporate character by denying any obligation to correct its past transgressions
and mounting a legal assault ensure it never had to,” Magner wrote.

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