Securitized Bankruptcy Systems
This company specializes in bankruptcy tailored for saving homes nationwide. Ask about our Mortgage Modification Mediation (“MMM”) Bankruptcy Program.
YOUR MORTGAGE BIFURCATION SPECIALIST
This Company is a professional at bankruptcy tailored for saving homes USA wide.
Studied for 12 years in real estate, bank fraud, foreclosures and bankruptcy tailored for foreclosure illegal debt collection. Only facilitate what can help homeowners. You are filing Pro Se with no attorney, with what we write and process for the Bankruptcy court. (Documents are prepared for homeowners to file Pro Se in Bankruptcy Federal, District or State Courts) Court cost as follows;
- Use professional bankruptcy software which handles all states
- Chapter 7 bankruptcy cost $500.00
- Chapter 13 Cram-down Lien Strip cost $700.00
- AP Quiet Title Action $800.00 per home owned
- Court may charge you around $320.00 if Fee Waiver is not granted by the court
- The aim here is not to demand a free home through Federal Bankruptcy, Without the Note debtor fails to meet the validation of debt 11 U.S. Code § 523 - Exceptions to discharge, 15 U.S.C. § 1692 and Uniform Commercial Code § 3-301 Person entitled to enforce, § 3-302 holder in due course, § 3-303. Value and consideration § 3-304. Overdue Instrument and § 3-305. Defenses and claims in recoupment. Explaining to the trustee and or judge that at the end of the day you propose to HARP modify the debt once validated. At least shows the judge you are not demanding a free home.
- 11 U.S. Code § 501 - Filing of proofs of claims or interests
- 11 U.S. Code § 506 - Determination of secured status
- Rule 52. F.R.Civ.P. applies in adversary proceedings, except that any motion under subdivision (b) of that rule for amended or additional findings shall be filed no later than 14 days after entry of judgment. In these proceedings, the reference in Rule 52 F.R.Civ.P. to the entry of judgment under Rule 58 F.R.Civ.P. shall be read as a reference to the entry of a judgment or order under Rule 5003(a).
- Rule 37 Failures to Compel Documents Federal Law
- Rule 7026. General Provisions Governing Discovery
- Rule 7037. Failure to Make Discovery: Sanctions
- Rule 7052. Enforcing proper findings by the Court
I can only offer a possible solution to save your home as I have seen it work time after time, but I'm not an attorney cannot offer legal advice. But attorneys will always state secured debt on mortgages so you would not have a fighting chance.
If you have been foreclosed on expect a 1099c. IRS Home Foreclosure and Debt Cancellation Amnesty for primary residence are coming to an end. In addition; foreclosure on rental properties was never covered and you will be taxed. Once the IRS fines you it is too late to file. Bankruptcy saves you from future big tax audits.
IRS Link https://www.irs.gov/uac/home-foreclosure-and-debt-cancellation
Download Bankruptcy requirements at this link
I transferred property out of my name. Should I wait to file for bankruptcy?
This process is first file Bankruptcy Chapter 7 unsecured debt on the first and second mortgage (If there is a second) get the debt discharged as unsecured then file a quiet title action removing the Deed of Trust.
Securitized mortgage loans become an unsecured debt when notes are bifurcated and securitized.
What Is Mortgage Bifurcations?
Bifurcation refers to breaking something and splitting something into two pieces. In a bankruptcy court, mortgage bifurcation is the process of forcing a balance reduction by splitting a loan into secured and unsecured debt. Outside of bankruptcy, bifurcation refers to separating a mortgage from the underlying trust deed.
What are Bankruptcy Bifurcations
If you file for a chapter 7 you discharge your unsecured debt. If you file for a chapter 13 bankruptcy you reorganize your debts. The court has the option of splitting your secured debts into two pieces. A secured portion of the debt stays with the property, while another amount that you owe that is higher than the value of your collateral, gets turned into unsecured debt and potentially released. Also known as a "cramdown," mortgage bifurcations aren't allowed on your primary residence's first mortgage.
While you can't bifurcate the first mortgage on your primary home, any other mortgage is fair game in a Chapter 13 bankruptcy. The court can bifurcate second or third mortgages or home equity lines of credit. It can also bifurcate a first mortgage on a second house, as well as a car loan on an upside-down vehicle.
Notes and Mortgages
Your home loan is actually made up of two parts. When you took out your loan, you signed a promissory note to pay the lender's money back. To turn your house into collateral that the lender could take without having to go through a collection lawsuit or having to worry about your homestead rights, you also gave your lender a mortgage or trust deed. That security instrument formalized your lender's rights to the home. Normally, those two documents -- the note and the mortgage -- should stay together, both in the lender's possession.
Sometimes, the mortgage and the note get split up. Given that lenders frequently sell notes to other lenders, it's natural that this could happen. When the ownership of the note and mortgage get split, creating a "naked mortgage," it can be harder for the lender to foreclose. Further complicating matters, many lenders coordinated their loan transfers through a third-party, Mortgage Electronic Registration System, Inc. Until 2011, when MERS stopped being involved in foreclosures, loans involving MERS were in a state of legal limbo, with some states not allowing MERS to be involved in the process. If you're in foreclosure, bifurcated mortgages can still be good enough for a court to allow a lender to foreclose, but it's never a bad idea to get some expert help to understand where you sit.
Once a note is severed it cannot be brought back as whole again...
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