NJ-
In the past six months, an eerie feeling has settled in the offices of housing counselors and attorneys who confront the foreclosure crisis head-on and help distressed homeowners in New Jersey. The phone hasn’t been ringing any less than it did at the height of the storm, but what is about to hit may be greater than anything the group has seen so far.
Foreclosure filings are down 86 percent so far this year from last, owing in part to a December crackdown by the state’s chief justice that effectively halted proceedings by the country’s biggest mortgage lenders and service companies, according to court data. But lenders are waiting to file an estimated 28,500 foreclosures, and another 55,000 mortgage loans are currently more than 90 days delinquent, according to LPS Applied Analytics, a real estate data firm that tracks mortgage performance. At the current rate, it would take 49 years for banks to clear the logjam of mortgage loans that are currently in the foreclosure process or are more than 90 days delinquent, LPS found.
Continue reading [NJ.com]
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
Homeowners should be also concerned about their rights to home ownership and Due Process in the courts. The banks, judges and the courts are undermining your rights to a Clear Title to your homes even when you are still paying your mortgage. All you have to do is go to the FannieMae, FreddieMac and Mers-Id website to check who owns your loan. If it’s not the pretender lender, then go to your county clerk where your loan(mortgage) is recorded to check the recorded mortgage and assignments, if any.
The courts easily overlooks any descrepancies the banks(plaintiff) may have submitted, but makes the homeowner prove without a shadow of a doubt that the banks are not the owners of their loan. It’s the banks that have to prove that they are owner/holder of your loan and that they are the party of interest in foreclosures.
In New Jersey, the New Jersey Supreme Court is trying to tell the banks that they must follow the statues when even the court cannot recite it’s own statue in it’s Order To Show Cause, December 20, 2010. It’s Rule 4:64-1(b)(10) not Rule 4:64-1(b)(1).
Since 2008, or prior, the judges have allowed Certifications, instead of Affidavits along with Schedule Appendix XII-J, to be submitted in the courts for Proof of Amount Due. This has allowed the banks to cut cost by not having them notarized.
Banks,like JP Morgan Chase bank, N.A. has been using it’s Servicer, Chase Home Finance, LLC to file the foreclosure Complaints because Chase Home Finance, LLC states in court papers that it is the successor by merger to JP Morgan Chase Bank, N.A. What a crock of s***. As on May 2011, the Comptroller of Currency has Conditional Approved for Chase Home Finance to merge to JP Morgan Chase Bank, N.A. As of May 16, 2011, Chase Home Finance, LLC is no longer in business in New Jersey. The judges have been eating this up by the shovel loads and has not even required Chase Home Finance, LLC to submit any Assignments or documentation.
And then when your loan has been Securitized, ” FORGET ABOUT IT “. This is way over their head. They are so simple minded to think that the banks(pretender/lender who never use a dime of their own money) has already Sold Your Loan and have been paid in full. Now, they want a FREE house not because they are not the Creditors but because the judges/courts are ready to give it to them.