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Foreclosures and Credit Card Judgements

Updated on July 24, 2009

Foreclosures and Credit Card Judgements

 We are not alone dealing with the horrible effects of the economy. I have been doing extensive research pertaining to home foreclosures. I owned my home for five years, and yes I made a stupid mistake taking a five year loan. I am responsible and accountable for all my actions. When I purchased the home, I had cleared all my debts and swore off the use of credit cards. My mortgage was low, and affordable. The banks made it so easy to borrow money by entering what you wanted on their Internet screen, with out ever checking any information. I did borrow money to complete the repairs on the house. Most of the money borrowed was used to improve the property. In 2005 my county was hit head on by a hurricane, and I was lucky, so I thought that the tornadoes had missed my house. The jobs were gone yet I found a way to make money and stay current. That same year we had four more hurricane with mandatory evacuations. I found a job at the end of 2005 but my struggle was not over. The company by 2007 was going bankrupt, and I was searching for work again. I had to go 3 1/2 hours from my home to find work and live in 2 places. I was relieved in the early part of 2008 to find a job closer to home and all was going be well. I picked a large stable company and by June of 2008 we found out that they were closing in our area. I was having surgery, could not walk, and I am unemployed. August of 2008 I was in financial disaster.I called the credit card companies that had raised their interest rates on current accounts and they would not budge, the mortgage company would not speak to me. I was on the edge and pushed over into the dark side. I sold everything I could sell, and by December of 2008 moved to take a job, hoping it would last. I received my foreclosure Liz Pen-dens, I really did not read it well enough, too depressing. The stress of everything crashing on me at once and having no one to share it with, made it even harder. I start researching about foreclosures and I find this site The Consumer Warning Network. This site has accurate information, that I could hardly believe. The site said to look in the foreclosure papers for the clause that tells the court that the mortgage company does not have the original mortgage note. That piece of information interests me because one lady at the bank told me that a foreign investor had my loan. If a foreign investor was sold my loan, how could this bank foreclose it? That is where the "produce the note" comes in. The site gives you the forms and directions to follow through. There is a possibility that if I do not stop the bank, another bank may also want the mortgage money. I wonder how the bank, if they do not have the original note, and they are admitting to the court that they do not have it, it may be destroyed, or lost, why would they be the recipient of any mortgage payments?  I no not want to stop them for a loan modification, I want to only pay the bank that has the original note. If there is no bank, and there is no note, then I will pay no one.  The other research I did was about credit card judgements. It appears that good old Chase and Capital One are launching a major judgement launch. I use to work for Chase, and in a nice way, I told them to rehire me and I would pay them. They did not like my answer. In the State of Florida Title VI Chpt 77.041 explains judgement proof and execution proof. In reality being broke insulates you from the execution of collecting the judgement.  Chase has filed the judgement without telling me, the next step if they do it would be an asset search, then a filed writ of execution filed in the same court. In the State of Florida there are certain wages that can not be garnished, as well as income amount guidelines. They could issue a court order if they find your bank and freeze your accounts. I have read that they are freezing money that they can not take legally and doing it anyway. I am not saying that you do not owe them the money, usually not the raised up amount they are now asking for, but these big companies got all the bail out money, and still would not negotiate any type of payment plan.The trick is to be one step ahead of them, until you have some funds to pay them.I am getting use to the rocky roller coaster ride, because now this job 8 days after I started, sent out a wage freeze paper, after season ended started job elimination, then they cut down the hours, which means no gas money to drive the 30 miles each way to get to work. Then they made sure they gave you a job that would be quite difficult to do, started writing their paper warnings, to get rid of the new employees. They would not have to pay for their benefits which they boasted about upon hiring and it is a yearly game they play. I wish them "nothing" for their future. I will not believe that every person, or every business is tainted with greed and evil people. Good triumphs over evil. I will find  something else, and it will be better than working with evil people. I will not loose anything else that I have. I remember that song that says 'I get knocked down, but I get up again". I will survive!


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