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Success, Failure...some of my greatest failures have been a springboard to my greatest successes...the terms are truly fluid.

Tuesday, October 13, 2009

Time is Right...

So I know I am this boring housewife turned student in reaction to losing my house to foreclosure and thinking I had a clue but watching helplessly as Manny's house was, hmmm, how can I say this nicely? STOLEN by both BofA and Wells Fargo!!

I tried writing to authorities, (White House included) and also PBS and other news outlets...but the words that I wrote were lost in a sea of many other words that are being ignored.

I had two years of personal experience helping peopel who were losing their homes BEFORE I lost mine and I still lost it, (Some said I was a lousy real estate investor because I would not take advantage of the situations when folks were losing thier homes, but I knew I was doing the right thing.

I watched as bank tactics switched and morphed to still wind up with the house and the future income it could provide to their corporate assetts. Everything I tried just didn't help people. (And of course I didn't make any money either.)

But when my own hous was lost I felt like a loser. I almost sold it too...lots of kidly investor friends jumped in at the end....but the bank rejected everyone. It seems they were set on selling my home at auction in a small, rather unwealthy little community like Tuolumne county, CA.

Welll, it tunred out they had hedged their bets and the newly deemed Bank of Christiana who now owned my loan knew they were selling the house back to themselves.

I dressed in my best suit and I wore a pretty set of heels, and styled my hair and sat on the edge of a planter box as the auctioneer nervously auctioned my property to no one.

It was sort of like EBay...there wasn't enough of an offer so they jsut decided to keep it.

Now the funny thing is that I am, by law, not allowed to have a relative or friend by the home soo I may live in it and pay a person I know and trust. That was set up so everyone wouldn't suddenyl stop making payments and get family to buy the houses.

Yet I got to take the wisdom I had accrued and a year later take on the situation again when Manny and I were wisely advised to move into his last remaining marital asset (an investment home in Oregon that he had rented out previously). We knew if it was our primary home and only remaining item we coudl renogotiate our loan and be OK in the long run.

When Manny went to renegotiate with Bof A, he didn't ask to pay less. He had not made payments in several months due to his divorce and our entry into late-in-life college to combat our many failures financially.

Manny has a badge and is a retired correctional officer. He wanted to pay them what he felt he truly owed them. Even though he had received the loan in what I would consider to be predatory practices (he and his Ex did it on her proposed income, which never seemed to materialize as a real estate agent)!!So he actually wanted to renegotiate the loan to PAY EVERYTHING HE OWED BANK OF AMERICA!! He asked that it be put at the end of the loan, that was all.

He said he would start paying the same old payment ASAP...this month on the first if their paperwork was in order.

They kept telling us they would work with us...they sent us the paperwork and we did it ASAP and sent it back the next business day.

The auction kept looming though..and eventually they did auction it off...but not without playing with us first to prevent us from declaring bankruptcy. And not without a last stab at extorting $3000 from us about 3 days before the auction.

All of a sudden all bets were off when the auction actually occcured. No one was willing to talk to us. The supervisor had hinted that they might talk to us abotu buying if no one bought it at auction, but no, our paperwork for the modification was stopped then and there.

And they also wouldn't tell us who or what now had the hosue in its name.

We called the local sheriff's department and it had no order to evict us. Yet a real estte woman lied and told MAnny that everyone quietly moves out because other wise she would show up in less then two weeks and TAKE THE HOUSE WITH AN OFFICER EVICTING US!!!!

The county said there were no changes in title and that Manny's name was still on everything.

Finally, after hours of working through phone calls, Manny got a charming woman within a county agency to tell us who she had serached hard to find. Apparently Wells Fargo bought our house. At least they had filed something for it the day of the auction.

Now how come the banks can let their brothers and sister buy our houses, and decide its value, but WE people cannot?

What is going on here?

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