Stop Paying Your Mortgage! CEPersVid-2
October 28th, 2009 | by admin |
Why a homeowner or other mortgagor in NY and other judicial-foreclosure states should stop paying the mortgage if financial difficulty is expected in 6 months, invite a foreclosure action, defend the action timely and vigorously (at low cost), and use the extended time to obtain a reasonable modification agreement or find a buyer to get any of your equity out of the property (by not having to sell at a distress sale).
Duration : 0:9:13
[youtube rQ6Fm2CG_vg]
25 Responses to “Stop Paying Your Mortgage! CEPersVid-2”
By pimpolee on Oct 28, 2009 | Reply
this lawyer will go …
this lawyer will go to jail
By linhh82 on Oct 28, 2009 | Reply
I agree also stop …
I agree also stop paying the attorneys as well
By brcmasters on Oct 28, 2009 | Reply
Trust a lawyer, you …
Trust a lawyer, you must be joking. What do you call 10,000,000 lawyers at the bottom of the ocean. Not good enough!
By moniequa on Oct 28, 2009 | Reply
This attorney …
This attorney doesn’t care about you, he just want to make money of off you. Don’t retain a lawyer, you can do it on your own.
By moniequa on Oct 28, 2009 | Reply
I hope you’re being …
I hope you’re being sarcastic, if you stop paying rent your will be on the street.
By 36shalom on Oct 28, 2009 | Reply
is foreclosure …
is foreclosure action different in other states? im from san diego, california. if you stop paying your mortgage how bad does your credit become?
By clarkewi on Oct 28, 2009 | Reply
I am a landlord, …
I am a landlord, have been for over 20 years with lots and lots of people paying me rent like they are sleep walking. I have always wondered what would happen if people en mass just took a “rent holiday”? kind of like these “Bank Holidays” they are talking about. I mean really, if enough people did it, there is nothing us landlords could do. But please don’t do that. Just keeping paying and pouring your money down a rat hole so that I can have it.. I mean, haven’t I earned it? (suckers…)
By coscopjen on Oct 28, 2009 | Reply
Contact an attorney …
Contact an attorney in YOUR STATE regarding foreclosure laws.
Some banks will not help you until you stop making your payment. Get to the loss mitigation department of your mortgage company.
Join the group on Facebook: Homeowners Help Each other with Loan Modifications
There are many links there to find more information.
By wayneo169 on Oct 28, 2009 | Reply
I live in CT, I …
I live in CT, I recently had emergency major surgery with a 10 month receovery process. I immediately contacted my bank in writing requesting a 4 to 5 month loan deferment & papers were sent to me but it took 5 months to get them, my employer of 3 + years filed bankruptcy while in hospital & fail to pay social security & other benefits & taxes, bank changes their mind on deferment places me in loss midigation, informing me I’m now 3 months in rears facing foreclosure any good attorney in CT ?
By 918yourass on Oct 28, 2009 | Reply
Remember, we also …
Remember, we also gave the banks billions in aid. You the landlord would not be bailed out if folks stopped paying you. Can’t really compare the two…..
By bankruptcyinfo on Oct 28, 2009 | Reply
Keep in mind that …
Keep in mind that loan modifications MAY be available if you are NOT behind on your mortgage. Many people, including the lenders themselves are not aware of this.
By deansusky on Oct 28, 2009 | Reply
Do not pay and get …
Do not pay and get kicked out
By eldiezmaradona on Oct 28, 2009 | Reply
if you stop paying …
if you stop paying your m ortgage then ill stop paying rent!
landlords are pocketing our money (renters) this is wrong! you greedy dirtbags! stop paying rent to selfish landlords!
By dave2005staffing on Oct 28, 2009 | Reply
I’ll take a look at …
I’ll take a look at your website. We are in that situation in California. Tough times. Thanks for the video.
By Sgipon on Oct 28, 2009 | Reply
good vid..
good vid..
By hydrocannon123 on Oct 28, 2009 | Reply
hi person
hi person
By askmeif on Oct 28, 2009 | Reply
Stop paying and …
Stop paying and defend timely and vigoursly. This reminds me of an arms dealer who encourages his clients to fight.
By videolover61 on Oct 28, 2009 | Reply
Pray. Then go to …
Pray. Then go to your mortgage company with a contrite heart, say you lost your job, and a reduction would help alot…that I think might work!
By videolover61 on Oct 28, 2009 | Reply
Pray first. Then go …
Pray first. Then go to your mortgage company with a contrite heart, say you lost your job, and a reduction would help alot…that I think might work!
By warp13 on Oct 28, 2009 | Reply
I look at this as a …
I look at this as a gamble and a pretty big one at that. Firstly the homeowner has limited funds, the lender doesn’t. How does this work with the Help for Home Owners plan? Isn’t that a form of working with the bank to debt restructure? What about forbearance?
By toogawn on Oct 28, 2009 | Reply
Sure, STOP paying …
Sure, STOP paying your mortgage so you have money to pay your shister lawyer (like you) to lower the payments on a house that you agreed to pay for.
Sounds totaly reasonable.
By bankruptcyinfo on Oct 28, 2009 | Reply
Great point. Glad …
Great point. Glad that you took the time to let people know this.
I am a Realtor and prior lender. What he is saying makes sense.
By buzzz1213 on Oct 28, 2009 | Reply
I do not understand …
I do not understand why banks don’t take ownership & lease the propery to the former homeowner for 20-30 years at an agreed upon rent.
I believe they have been doing this Europe for many years.
By whitu4ever on Oct 28, 2009 | Reply
Sure, let the …
Sure, let the lawyer-person have your money instead of the bank that loaned it to you. NOT! Where is your conscience, Mr. Person?
By tebislu on Oct 28, 2009 | Reply
I have not met or …
I have not met or heard of anyone that has been helped. I have heard stories but it is just like a chain that continues ans never stops, so you never get to see that person that was helped and i need help with my house