Concept and Purpose of this Group
The intention of this group is not to "file" or be a party to any class-action law suits, although we may be asked to testify, should actions be brought against a bank, lender, servicer or investor.
While we all have experiences that are somewhat to extremely positive, these remain few and very far between. Most loss mitigation departments, treat our clients like dirt and us as agents of Satin.
I would like to begin collecting records of gross violations and depraved indiferences to the banks' legal obligation to "mitigate damages." ( they do have one under Uniform Commercial Code [UCC]) And I would like to start that process here, with the best and most experienced foreclosure avoidance agents in the country.
We have all had "solid," deals at "market value" that were turned down and went to foreclosure sale, leaving the seller(s) injuired (credit wise) and vulnerable to future claims and deficiency judgements, well above the potentially settled short sale trasactions.
The investors and servicers are legally entitled to do as they please . . . "unless" they injure another party and/or impose a future obligation in excess of the "mitigated loss" they refused to accept. When they cross that boundry, it seems to me that they should be held "financially responsible" for irresponsible acts.
Today's news statistics were that there are 6.4 MILLION homeowners CURRENTLY in delinquency or default. Foreclosures are at an all time record high in nearly every area of the country.
While we are daily abused in our efforts to stop foreclosures, we do need to fight back . . . for our sellers. This kind of bullying by the banks should not be allowed to continue.
Will we see court judgements againt the lenders? Perhaps, and hopefully yes. Can we evoke public and political pressure from exposure of bad behavior by the banks . . . I think and hope so!
Don Quixote (aka Clay)
This group does not have any discussions yet.