The decision makers at Flagstar Bank need a good flogging and they got the first lash on Tuesday, August 3, 2010 when Judge Carolyn E. Baker of the 295th U.S. District Court in Harris County signed a Temporary Restraining Order halting the foreclosure sale of a property in Houston.
Like many homeowners, this family suffered a financial setback and had fallen behind on their mortgage. They worked hard to save their home and get back on their feet. Finally they were ready to catch back up but like many banks, Flagstar refused.
After failing to get Flagstar to be reasonable and allow them to catchup they came to us. We worked with the homeowners to secure a modification of their loan and in December 2009 they signed the new modification.
The homeowners made their first six monthly payments, but then Flagstar decided it wanted the house more than it wanted the monthly payments and rejected their July payment. Flagstar then immediately moved to foreclose on the home on August 3, 2010.
After dozens of attempts to resolve the situation, Flagstar finally said it would postpone the sale and accept payments. But then after telling the homeowners that they would not foreclose they pulled a dastardly trick and faxed over a denial of the loan modification on Monday, August 2 at 6:30 pm. Flagstar must have figured that since the sale was the next day it would be too late for the homeowner to react and stop the sale. They were wrong.
Hats off to the The Gore Law Firm who immediately filed an application for a temporary restraining order and rolled into Judge Baker’s court on Tuesday AM. Attorney, James Caruthers scored a knockout blow when he convinced the Judge to sign a Temporary Restraining Order halting the foreclosure sale by Flagstar. The Gore Law Firm rushed the TRO to the courthouse steps two blocks away and hand delivered the Judge’s order to the foreclosure trustee.
The foreclosure was stopped and Flagstar was put in their place. Score one of the good guys.
- The Bank Slayer
Wow this is a great resource.. I’m enjoying it.. good article
Slayer,
Great job, man! We work about 60+ short sales in Texas at any one time and I’m constantly having to “get creative” when going into battle with the lenders.
Virtual “high 5″, brotha!!
Aaron
Good job for your team, Edge!
E.J. Simonsen is on The Talk650 Morning Show Monday’s from 7a-8a on KIKK-AM.
We have been dealing with Flagstar for a while that dont care all the want is to lie and sell you home for a profit. We have been trying to get a modifiaction for all most a year and all we get is a run around .. send all your papper work to them like 4 times in a year. They are cheats and Liars is all Flagstar is.