Foreclosure advice |

Foreclosure advice

Dear Editor:

Three cheers for Congresswoman Kaptur of Toledo, Ohio. With 4,000 foreclosures in her county in 2008, her advice is to NOT LEAVE YOUR HOME.

Many of the foreclosures are not legal, though you know you stopped payments. You are entitled to see all of the loan documents along with the foreclosure demand. Because so many loans have been sold many times, some critical documents have been lost.

If there is no note, then no debt. The mortgage alone, without the note that evidences debt, is a problem for the lender.

Furthermore, by staying in your foreclosed home, you are doing the owner bank a large favor. By keeping the utilities on you prevent a freeze-up and vandalism. The bank should pay you for protecting their property and reimburse for your cost.

Get yourself a public defender lawyer, at no cost. There may be “lender liability” issues that could keep you in your home for years.

Foreclosed property now owned by banks should offer you a “workout” loan and take whatever you can pay. It’s a win-win program for the bank owner and you. And, you squatters are protecting your neighborhood from further problems.

Its time to think and act outside the bun.

Richard Goodwin

Snowmass Village

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