This company United First from bailoutmyhouse. com is claiming that they file a litigation and a TRO with against the lender claiming that the lender has to show the "original" mortgage note. Otherwise the whole mortgage gets dismissed and the property owner walks away with 20% equity since United First forms a Joint Venture agreement with them taking the 80% for themeselves. It seem fair since they are paying the attorney fees and the owner gets to stay in their home for approx 2 more years while the case is in court and cut their monthly payment in half.
I'd like to know if this is possible? They have a video presentation explaing the process and also a news clip from CNNMoney, showing that 50% of these lenders cannot find the original note making this whole process more ligit.
What do you think?
Thanks
Steve
svosscpa@gmail.com
I'd like to know if this is possible? They have a video presentation explaing the process and also a news clip from CNNMoney, showing that 50% of these lenders cannot find the original note making this whole process more ligit.
What do you think?
Thanks
Steve
svosscpa@gmail.com
