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Escaping The HAMP/HARP Trap: a Federal Judge Grants a Restraining Order to Halt Foreclosure Proceedings

realpropertycheck.com November 2, 2010

Escaping The HAMP/HARP Trap: a Federal Judge Grants a Restraining Order to Halt Foreclosure Proceedings

In August, we warned you that some banks were misleading homeowners by telling them to stop making their full mortgage payments after submitting a HAMP (or a HARP) application. Now a federal judge granted a La Jolla homeowner by the name of Kaveh Khast his motion for a temporary restraining order blocking Washington Mutual and JPMorganChase from foreclosing on his house on the grounds that the banks misled him into defaulting on his mortgage.

CourtHouseNews wrote:

Kaveh Khast claimed the banks instructed him to stop making his mortgage payments so he could qualify for a loan modification.

Does it sound familiar to you? We warned our readers about this pattern of abuse relating to HARP back in August.

A Washington Mutual representative confirmed receipt of the documents, but did not contact Khast within two months as promised. After learning JP Morgan Chase had acquired Washington Mutual, Khast contacted JP Morgan Chase, and a representative told him he needed to submit another application. Meanwhile, he resumed making his monthly mortgage payments.

Back in August, we wrote how you can protect yourself in a similar scenario:
HARP: All You Have to Do is Ask? The Pitfalls of Government-Backed Mortgage Refinancing and how to dodge them.

Filed Under: Financing, Homeowners' Club Tagged With: HAMP, HARP, lenders, restraining order

realpropertycheck.com August 29, 2010

HARP: All You Have to Do is Ask? The Pitfalls of Government-Backed Mortgage Refinancing

Record low interest rates are no good if you can’t get the lender to give you the time of day let alone a new mortgage. Government-administered home refinancing programs are mired in red tape. There are two of them right now and none is working. Here is what awaits you and how to avoid trouble.

IMPORTANT UPDATE: In early November 2010, a federal judge granted a La Jolla homeowner by the name of Kaveh Khast his motion for a temporary restraining order…

[Read more…]

Filed Under: Financing, Homeowners' Club Tagged With: Fannie Mae, foreclosure, Freddie Mac, HAMP, HARP, keeping records, notice of default

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