Cebu_4_2
23rd May 2013, 11:15 AM
Just received this email from one of my former legal consulates...
We just heard an interesting story from an attorney in Maryland who has two MERS related cases in US Court of Appeals 4th Circuit and probably 100 other active foreclosure defense cases across the state. He is quite effective by the way. After a discussion with one of the representatives of Marylands largest foreclosure mill he gathered that the large servicers and their foreclosure henchmen are starting their engines again in Maryland and Virginia. Expecting 35,000 foreclosures just in MD from Bank of America and 35,000 from Citibank over the next year. Not to mention Onewest, Ocwen, Chase, Wells and GMAC. 150,000 total foreclosures expected in the State of Maryland within the year. Where do these pundits get that this economy has rebounded? That is roughly 10% of Marylands residences. Maryland at the taking of the 2000 census only had 1,091,000 detached homes in the entire state.
We think this is may very well be a general indication that foreclosure activity across the country is about to explode. Perhaps the servicers were waiting to see what kind of credible demand homeowners and their attorneys were going to make upon the DOJ settlement funds. A disaster. According to research we have done on data coming in on Bankclassactions.com, there is a huge national backlog of default status mortgages, where homeowners have attempted and are attempting to obtain modifications who are now going to really be fighting for their properties as the servicers give the green light again to foreclosure mills.
As always. Let us know if you need help.
We just heard an interesting story from an attorney in Maryland who has two MERS related cases in US Court of Appeals 4th Circuit and probably 100 other active foreclosure defense cases across the state. He is quite effective by the way. After a discussion with one of the representatives of Marylands largest foreclosure mill he gathered that the large servicers and their foreclosure henchmen are starting their engines again in Maryland and Virginia. Expecting 35,000 foreclosures just in MD from Bank of America and 35,000 from Citibank over the next year. Not to mention Onewest, Ocwen, Chase, Wells and GMAC. 150,000 total foreclosures expected in the State of Maryland within the year. Where do these pundits get that this economy has rebounded? That is roughly 10% of Marylands residences. Maryland at the taking of the 2000 census only had 1,091,000 detached homes in the entire state.
We think this is may very well be a general indication that foreclosure activity across the country is about to explode. Perhaps the servicers were waiting to see what kind of credible demand homeowners and their attorneys were going to make upon the DOJ settlement funds. A disaster. According to research we have done on data coming in on Bankclassactions.com, there is a huge national backlog of default status mortgages, where homeowners have attempted and are attempting to obtain modifications who are now going to really be fighting for their properties as the servicers give the green light again to foreclosure mills.
As always. Let us know if you need help.