Foreclosures and Evictions Grinding to a Temporary Halt

Mar 23, 2020

Besides giving the obvious relief to many homeowners facing dispossession from their homes, this provides homeowners with a unique period of time in which they can prepare to confront the participants who are pursuing schemes of illegal foreclosures.

While most foreclosures and evictions will be suspended don’t make the mistake of thinking they are cancelled.

USE THIS TIME TO YOUR ADVANTAGE. PREPARE

This window of opportunity will not last forever, even though there are projections that say that the epidemic may last until we have a serum that will inoculate at least 40%-70% of the population from further damage. The projected time of arrival for that serum is 12 to 18 months. My opinion is that while I believe all foreclosures should be shut down for all time I don’t believe, based upon decades experience, that foreclosures on mortgages or tax liens will be put on hold until COVD19 is not a threat anymore.

And while courthouses are closing down or restricting access and services, court administrators, law enforcement and law offices are getting together with third-party vendors to enable court process to resume and continue in a virtual space using computers. It is now possible with vendors like veritext.comto conduct a remote deposition from the safety of a home office in which the witness is anywhere in the continental United States, with an accurately reported court transcript that is certified.

Remember that this makes it easier for homeowner or homeowner’s attorney to reach out and conduct depositions that might otherwise have never occurred. Opposing counsel will object to any subpoena you issue, but if you persist, you will most likely be able to force the appearance of the witness in a virtual deposition.

So don’t get too complacent about the moratorium since it will probably not last nearly as long as the current emergency. When things start up again, you might still be self isolating at home and you might be expected to either have a computer or get to one. Those who have attorneys may be fast tracked because the lawyers can probably be forced to have connectivity to a system supported by the courthouse.

Do not assume that you no longer have to defend your house from foreclosure just because you have heard about a moratorium. You should assume that the fight will resume shortly. Failure to do that will put you in a worse position than you already are in. So if you have been served with foreclosure papers, you should be taking this time to consider your options and among those options should be whether you are going to contest the foreclosure.

There is good reason to contest almost any foreclosure with or without the Coronavirus.

Nearly all residential mortgage loans in both judicial and nonjudicial state’s are subject to various claims of securitization.

In virtually all cases where a loan is subject to any claim of securitization, the scheme employed by the investment banks is not recognized by law or nor should it be. They are merely seeking profit. They are not seeking restitution of an unpaid debt because they have already sold the debt many times over.

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FORECLOSURE DEFENSE IS NOT SIMPLE. THERE IS NO GUARANTEE OF A FAVORABLE RESULT. IN FACT, STATISTICS SHOW THAT MOST HOMEOWNERS FAIL TO PRESENT THEIR DEFENSE PROPERLY. EVEN THOSE THAT PRESENT THE DEFENSES PROPERLY LOSE, AT LEAST AT THE TRIAL COURT LEVEL, AT LEAST 1/3 OF THE TIME. IN ADDITION IT IS NOT A SHORT PROCESS IF YOU PREVAIL. THE FORECLOSURE MILLS WILL DO EVERYTHING POSSIBLE TO WEAR YOU DOWN AND UNDERMINE YOUR CONFIDENCE. ALL EVIDENCE SHOWS THAT NO MEANINGFUL SETTLEMENT OCCURS UNTIL THE 11TH HOUR OF LITIGATION.

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