May 9, 2010
“Dear [Borrower and Co-borrower name(s)]
“If you are looking for help selling your home and avoiding foreclosure, the federal government has introduced the Home Affordable Foreclosure Alternatives (HAFA) Program to help you. As your mortgage servicer, we are offering you the opportunity to participate in this program by utilizing HAFA’s short sale option.”
It goes on to explain the program, and then at the bottom of page 3 of 7 it reads:
“By signing this letter, you are agreeing not only to a short sale, but also to a deed-in-lieu of foreclosure if a short sale is not successful. If you have any questions about the deed-in-lieu of foreclosure, please call us before signing and returning this letter.”
We know from our studies that the odds of pulling off a short sale are remote because you are negotiating with the servicer, not the investor, and because of MERS, the investor can never be found.
So, the Government is setting you up for hope in getting out of your house without having to go through a foreclosure, and then when you can’t (oh, too bad, we tried), you are forced to give it up. You are signing away all hope of fighting an illegal foreclosure.
Short sales & loan modifications are a suckers game. And now it is the government who is getting in on the act of throwing people out of their homes with no hope.
Hope for America’s homeowners. Change you can count on.
Well, you count on being yenched yet again by your predatory and useless government. And attached, find an interesting observation on the same subject:
“Advocates and judges have only recently become aware of just how failed this whole system is. Some judges are just covering their eyes, holding their noses and continuing to grant foreclosures despite the growing body of evidence that the law firms and the clients they represent are engaged in such widespread and systemic improper practices. This will all come back to haunt every American for decades to come. The biggest problem is this represents a fundamental breakdown in the rule of law. Courtrooms and judges are no longer owed respect and honor and fear…the pressures placed on our courts have turned them into fast food flop houses operating in servitude to the Millionaire Foreclosure Mills. The only real objective is to plow through these hundreds of thousands of foreclosures as quickly as possible so that the foreclosure mills and their clients can continue to make millions.”
Matt Weidner, Foreclosure Defense Attorney