I sent you a message several weeks ago concerning UFAN. I have read two of the posts where you answered questions about this entity, so I went with my intuition and the advice posted and did not proceed.
I had inquired a about lawsuits against HSBC, my current mortgage holder. Briefly, my situation was created when I was unfairly fired from my job in July 2008, ending a 36 year career as an xray tech. I have been unsuccessful in getting reemployed in my profession, for many reasons that I will not share here.
Due to my severe depression, and an unsuccessfull suicide attempt, I was able to get on permanent disability, and I receive $1950 per month, and also have a $226 per month pension from a job I had for 22 years, until that hospital closed.
I made several really bad decisions in my life which contributed to my bad situation–first, I married a deadbeat that I had contributed at least $48,000 to at the time of our divorce in 1999, which I received $0.
Second, in the early 1990’s we decided to combine a first and second mortgage, the most problematic mistake since the mortgage would have been paid off in 2008. Third, I refinanced into a 125% mortgage, ARM, in 2005 which I changed to a fixed 6.5 in 2006.
The house was overappraised in that refi, so now my mortgage of $164,000 is for a house I estimate is worth $90,000 or $100,000 due to many cosmetic problems that my now late ex husband never addressed like he promised. When I was fired, HSBD did give me a mod, but I only could make payments for about 6 months until my IRA ran out. I made partial payments, caught up when my ex died in 2009, got behind again and missed three payments OCt NOV DEC 2009, received foreclosure sale notice in Jan 2010. Filed CHAP 13BK but couldn’t keep up payments when I couldn’t finish online transcription course.
In Jan 2011 I got about $20,000 back disability pay, $15,000 went to catch up mortgage, but during that time HSBC raised my payment almost $200 per m onth, saying taxes and ins (escrowed)went up, but ins only went up $150 per year, and taxes did not go up at all.
A company MyHome Support did a loan mod free, did a mini loan audit, it was evaluated by a law firm Precision Law Center for a cost of $998, found multiple violations. MHS said HSBC admitted they could not produce the required paperwork proving they owned the loan, so they gave me a quick mod (temporary, which is the only kind HSBC does) in which they lowered int from 6.5% to 5.25%, and payments from $1678 to $1506 per month, but so far I have not received this in writing, despite H SBC’s promise it would be sent to me.
Also, a lot of my unsecured debt of $40,000 was because I owned three horses, and multiple dogs, all rescues from being killed. I spend very little on myself, shop in thrift stores, drive old cars and have old computer, TV and stereo. I still have three dogs.
I cannot refinance, due to my horrible credit, I am paying on the largest unsecured debt of $20,000, ($50/month). I do not have money even to declare bankruptcy, even making bare minimum payments to a lawyer. To leave this house to rent would mean one or two of the dogs would have to be surrendered, which would be a death sentence since none of them are adoptable (two have significant bite histories).
My house is the only remnant of my former (employed) life, and I really do want to keep it, even though I live next to the neighbor from hell who I share a driveway with (another long story).I need help.
I have been in contact with another law firm (Triton Law, same phone # as Hays Law Center who told me they would pursue a securitization lawsuit, for $495 PER MONTH until suit was settled, or $5000 flat fee.
I have read lots of things that make me leery of this law firm, but I cannot afford either payment anyway. I found a company, Tila Solutions, www.tila-now.com, who will do a loan audit for $2800 to see if the loan was securitized (they said HSBC did securitize most if not all their mortgages) and they could recommend a “paralegal firm” which could file create documents to allow me to file a “quiet title”lawsuit pro se.
I see dead ends wherever I look, is this quiet title lawsuit something that would be reasonable to attempt? I really have no idea what to do. Can you address this matter with me directly or do I need to wait for you to answer the question in your newsletter.
I appreciate anything you can do to help me, I have no one else I can turn to. No one in my family or my friends can help me financially.
It seems to me what we have here are two completely separate issues. The first is some potential loan problem. The second is your current financial situation.
On the loan issue you need to know that any action you take now will not save your home from foreclosure and may take years and years to work through the courts. As someone told me today, the first of these mass mortgage suits, Ronald v. Bank of America is nearing two years and it is still in a pre-trial phase.
So let’s say you pay any company $3,000 to look at your mortgage and even if they say there is a problem, how do you plan to make the mortgage so you can stay in your home while it is being fought for the next foreseeable years?
It seems you may be faced with deciding if what you need more at this point is a multi-year battle with your mortgage company without any guarantee of success, or going for a fresh start and getting your life to fit within your income.
You can either do this on your terms and proactively seek help from a bankruptcy attorney who would probably tell you to turn the house back to the bank before filing bankruptcy. Or you can wait till you are kicked out of your house and then try to figure it out.
I am a bit puzzled that you say you have money to pay Triton Law Group or Hays Law Center but not for bankruptcy. That doesn’t see to add up. Based on your history and current situation it seems the most important thing you need now is a lower stress solution for your life you can afford moving forward.
Please post your responses and follow-up messages to me on this in the comments section below.