This is the type of people we're dealing with

[Patrick Desjardins]

Hey guys,

Just had the displeasure of being featured in the NY Post.

http://nypost.com/2016/04/16/non-bank-servicers-cr...

It amazes me how reporters fall for the sob stories and completely ignore the most basic facts. 

I loved the part about us using "strong arm tactics" and her "fighting so hard to keep the house".

Pretty amazing. So this woman disregards our letters and our calls for a year, doesn't show up for the court mandated mediation session, doesn't propose any sort of agreement, skips paying her first mortgage.. but is portrayed as an innocent victim.

After all, we were just trying to reduce her payment by half and wipe years of arrears payments!

I suspect this reporter is the BK attorney's friend and wanted to give her some free publicity.

[Patrick Desjardins]

Originally posted by @Mark Gibbs:

@Patrick Desjardins I feel for you.

I am curious, how did the judge justify stripping the loan when the individual didn't participate in any effort to do a workout?

I mentioned it into another thread but in short, the judge used a provision in every appraisers' report that says you should corroborate value using other professionals (ie engineer, architect). Their engineer found 80k worth of repairs so the judge used that to both agree with our appraiser's value (which was much more solid than theirs) and still claim a buyer would request X amount of repairs, so the value is under what she owes. Ridiculous loophole - only in New York.

The sad thing is I mentioned to the reporter that the biggest losers in this case are the residents of that town who have to stare at missing shingles, exposed electrical wiring and have to deal with blight/stagnant values. Somehow that didn't make it into the article.

I don't want to sound insensitive - the woman's situation is sad. However the sad reality is she just can't afford to live there. Stripping the lien isn't going to change that, just delay the inevitable.