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Negotiating a foreclosure

Discussion in 'Alternative Dispute Resolution' started by NYDonna, Mar 4, 2017.

  1. NYDonna

    NYDonna Law Topic Starter New Member

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    Jurisdiction:
    New York
    I have (had) a very complicated case. Not a subprime buyer, put 140k down on a 600K waterfront property. Went to sell it 4 1/2 years later only to find there was no CO and absolutely no possibility of getting one- not even a variance. 2nd story needs to be knocked down to make it legal. Sued Amex, closing atty and lost in Supreme Court barred by SOL, appealed case (at advice of new atty) under GBL 349 stating clock should start to run at time of discovery not when closing atty made the error. 2nd Dept upheld lower courts ruling. Fast forward $70k in legal fees later...

    I have been in foreclosure for 8 years now. When I learned the house was worth $0 I could not justify making a $3300 mortgage payment. This house has ruined me!

    Deutsche Bank started foreclosure proceedings 8 yrs ago. However, I could not be touched while I was in litigation with AMEX. Now after going to court numerous times, Deutsche made a motion for summary judgement in which it won one part but lost another "to the extent that" and I don't know what that extent is. That was in July 2015.

    Now my next court date is April 12th but only because the clerk was told to move up the old cases- not because of Deutsche. He knows my case and is very sympathetic knowing how badly I got screwed and now exhausted all of my retirement money.

    I am tired of all this and just want to move on. My questions are this...

    1) When I go to court I would like to hand over the house but only if I am free and clear of any and all debt that may have been accrued. My house is worth more than I owe. Can I do this without an attorney?

    I do have an ace in the hole because since August 2015 I am being billed for the same mortgage by another mortgage company but Deutsche is unaware of that since we haven't been to court
    since July 2015. So I can still fight if I had to and make it difficult for them.

    2) How can I find out what the judge denied them on summary judgement? When I look at my case on ecourts, all it say at the end is "granted to the extent that" and I have no idea what the judge meant by that.

    Thank you.
     
  2. army judge

    army judge Super Moderator

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    Chapter seven bankruptcy will erase the mortgage debt, all of the debt, USUALLY.
    It will also erase other debt brought about because of the scandalous predatory lending practices that seem to run rampant in the US these days, along with the MYTH that AVERAGE homes will appreciate as they once did for returning WWII veterans, my beloved mother and father.

    The last ship in that convoy sailed in early in the last quarter of the previous century, in that other millennium.

    Investigate a chapter seven bankruptcy, mate.
    You seem smart enough that you could easily do it pro se, saving yourself about $2,500 to $5,000.
     
  3. NYDonna

    NYDonna Law Topic Starter New Member

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    Thank you for your response. Unfortunately, a chapter seven bankruptcy is not an option for me. I'm so afraid of being homeless. So I bought a cheap house in Florida for a place to go. They will take that. That is why I wanted to negotiate and give them back this nightmare.
    .
    Right now, not knowing what is going to happen on the 12th, I am selling all my belongings si I can just flee. I am so afraid that if there is a deficiency they will find my house in Florida and take it.

    You work your whole life saving for retirement only to spend it on legal fees and being afraid. This is not where I planned to be at 60. Now I find myself having to leave my family behind and still being stressed out that (if there is a deficiency) they will find me. When I bought my first house I had to jump through hoops to buy it and that's the way it should be. Owning a home is not a right it is a privilege.

    Funny, the government decided everyone had a "right" to own a house even if they had no money. Now, we who saved our entire lives, suffer while those that never truly qualified for a mortgage could care less about foreclosure and live care free.
    Thanks again.
     

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