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Event Details
Jason McGuire Presents: The Foreclosure Defense Workshop
Avoid Foreclosure !!! Learn the tools to help save your home. Have you ever wondered why wealth in some families can go on from generation to genertation?
Let Jason McGuire show you the defenses built into many mortgage foreclosures by using the "1099" process. Don't you think its about time you found out where the money is ?
Also, learn how defending foreclosure effectively means that you need to know all of the laws, and use all the defenses, at your disposal. One of the tools to use may be the Truth-In-Lending Act (also known as TILA).
Enacted in 1968, this law is meant to protect consumers from inaccurate or unfair credit billing, by stipulating full disclosure of all key terms and conditions of credit by their lenders. Violations of TILA can mean severe penalties for the creditor, but more importantly, you can use it to keep your home through a special provision known as the right to rescission.
When one rescinds a loan, it will be as if the loan never happened. You will be entitled to a return of the interest and fees you have paid to the lender to date.
Take note, however, that this right applies only to a non-purchase money security interest on your primary residence. This means TILA applies only to transactions on your primary home - whether it’s a regular house, a trailer, or a boathouse.
This right to rescind normally lasts for three business days, starting from the day you signed the agreement. However, this time period can be extended to three years under special conditions:
1. You are not properly notified of your right to rescind your agreement.
2. Your lender fails to properly disclose all credit terms of the transaction, as according to the TILA.
If either case happens, you may be able to rescind your loan in order to halt an impending foreclosure.
Join Jason McGuire as he presents "The Foreclosure Defense" Workshop where you will also learn ...
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What to do if you miss a Mortgage Payment ?
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What are your alternatives ?
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What precautions can you you take as a homeowner ?
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What is a "Mortgage Modification" ?
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What is a Pre-Foreclosure Sale ?
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What is the Deed-In-Lieu of Foreclosure ?
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How do you know if you qualify to recind your mortgage ?
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Is ther anything else you should be aware of that the Banks are NOT telling you ?
When & Where
1001 Woorward Ave
Suite 1150
Detroit,
MI 48226
Tuesday, May 12, 2009 from 6:00 PM to 9:00 PM (ET)
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Hosted By
Commerce Financial Institute