Tennessee Mortgage Foreclosure Blog

Bank Foreclosure Settlement Tennessee

Posted on January 10, 2013 by John Higgins

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:

http://www.sokolovelaw.com/blog/2011/12/20/pinnacle-bank-overdraft-charges-prompts-consumer-fraud-lawsuit

http://livinglies.wordpress.com/2011/08/24/tennessee-federal-court-denies-bank-of-america%E2%80%99s-motion-to-dismiss-decl-action-challenging-alleged-ownership-of-loan/

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Foreclosure in Tennessee

Posted on June 16, 2012 by John Higgins

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 they they have carefully crafted 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 BANK FORECLOSURE AND FORENSIC LOAN AUDITS

Posted on May 26, 2012 by John Higgins

BEWARE OF SCAMS AND NON-ATTORNEYS GIVING ADVICE

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.

JOHN FRANK HIGGINS

TRIAL LAWYER