Bank Workers Start off Coming Forward With Stories Of Lies & Deceitful Acts Against Property owners

From the New York Occasions Write-up, Two States Sue Bank of America More than Mortgages in December of 2010 – Former personnel said that Bank of Americas modification employees was chaotic, understaffed and not oriented to consumers, according to a news release. One particular former employee mentioned, The major objective of the training is to teach us how to get clients off the phone in significantly less than 10 minutes.

Another employee stated, When checking on a borrowers status, I typically located that the modification request had not been dealt with or was so old that the request had become inactive. However, I was instructed to inform borrowers that they have been active and in status. One particular time I complained to a supervisor that I felt I always was lying to borrowers.
From an e mail that Tila Solutions received from a former bank employee: I have just in the last 2 weeks resigned my position from a single of the leading three banks in the country. I had been functioning in the Prime Mortgage Department speaking to hundreds and hundreds of delinquent property owners, who have been anywhere from 1 to 18 plus payments delinquent and/or in various stages of loan mods, or declined for loan mods. I have been a single of the best performers in that division, earning monthly bonuses, and then just lately, I was recruited to work on the foreclosure affidavit re-views and to re-function and an re-submitt them to continue the foreclosure procedure. I am sure you’ve been reading in the newspapers about that mess and a lot of it is correct.

In speaking with hundreds of delinquent property owners, it has just blown me away, at how unaware they are of what is going on and how they think every little thing they are told by the staff of the banks.

From an anonymous telephone get in touch with by a BofA Employee to Tila Solutions: BofA finds ridiculous ways to disqualify men and women for loan modifications, one particular trick is to tell them to send in a list of documents, and then disqualify them simply because they didnt send in 1 document which was in no way asked for by the bank in the 1st place. An additional trick they have is to disqualify anybody that has some further funds in savings. BofA currently has 80,000 files for loan mod from final December that they are just acquiring to. Oh and by the way, it only takes two days to do a loan mod.

From a homeowner who referred to as in to Tila, I was referred to your business to get support on my loan mod. When asked who referred the homeowner, they mentioned that they were not supposed to say who, but that it was from a individual who worked inside BofA and knew of Tila Options, and told the homeowner that if she actually wanted to save her residence to get in touch with Tila Options.

The cause Tila Solutions is capable to efficiently support save houses is since they know how the banks operate. They know the banks lie, cheat, mislead, and outright steal peoples houses. For these factors Tila begins all new circumstances by investigating the banks loan and or foreclosure either with a Forensic Audit or a Securitization Audit. They make it clear to the bank that the homeowner is not in the wrong, the bank is. From this groundwork they then move by way of all the bank lies and deceit and get that homeowner a loan mod.

Frequently other Audit or Loan Mod firms fail to get the job carried out basically since they too are a) believing what the banks say, and b) they dont have any negotiations energy. Tila does not operate that way. Listening to and believing the banks is the greatest way to lose your property. As an alternative, get sensible. Get Forensics and/or Securitization audits done by Tila Solutions and have them negotiate with the bank for you.

Tila Options looks out for you. Their audits will prove you have been wronged and they will use these audits to assist you get a loan mod. A Tila Solutions Consultant is available for folks by telephone at (702) 508-0335. Or you can go to the Tila Solutions site at . They will support you and your loved ones. They are on your side.

TAGS: BofA, Bank of America, loan mod, loan modification, foreclose, foreclosure, Tila Options, Tila, loan, audit, fraud, forensic audit, Securitization Audit, fraudulent loan modifications,

is a freelance researcher and journalist.

Incorporate to buy a multifamily property?

Question by lithium630: Incorporate to buy a multifamily property?
Is it true you should put each multifamily (4 family or less) under a different corporation?

Best answer:

Answer by teenriodoll
YES!!!! YES!!! YES!!! YES!!! YES!!!

Unless this is a quick flip for profit and even then I would put the property in the name of an LLC=Limited liability Corporation or a limited parntership. The reason is simple. Taxes and liability. Once you are in the chain of title you CAN be sued, even after you sell the property. But if the owner was a throwaway LLC then you are less likely to be sued.

Example, I was looking to purchase a property years ago. Did a title search and found the second deed of trust on the house had this long disclaimer about EPA and environmental. I did some research and found that if the property had a EPA cleanup problem, nothing prevents the U.S. Government from collecting from a former owner ever!!! Even filing bankruptcy does not wipe out an EPA claim.

Also, i bought a house with a partner who did not want to spend the money to form a LLC. I insisted or no deal. We put in LLC and two things happened. One the property had the plastic PVC piping problem that our buyer wanted us to replace all the pipes in a single family home that we were selling for $ 200,000. The cost $ 40,000. We said no. The eventual purchaser asked for and we agreed to a radon test. Well the property HAD RADON!!! Luckily we found an expert paid $ 800.00 and remidated the problem. I kept the LLC did 3 more deals in it and closed the company. I am not personally liable on this property and since the LLC has no assets there is not a likelihood of suit ever in the future. If we were in the chain of title individually, we would could be liable in the future from a future buyer. DONT BUY WITHOUT protecting yourself. You will sooner or later get sued. It is better to have in LLC or LLP then your own name. Enough said on liabilty issues.

Next, let’s talk about tax advantages. In many states you can have a one person LLC. Or be creative. another business or a family member or friend can be members in the Limited Liability Corporation. You can write off more and also maintain control by doing it this way. You do not have to report on Schedule-E instead you get a K-1 and the IRS has said that they audit K-1 less than filers with entries on Schedule-E.

So do it right. THis multi family could be lucrative for you. Set it up right.

Thanks and good luck with your investing.

Know better? Leave your own answer in the comments!