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HALT FORECLOSURES

PostPosted: Mon Dec 05, 2011 8:23 pm
by WarrantiesForLess
Time will tell as it always does.

Success to all,

Re: BELLA HOMES LAUNCHES MLM DIVISION To HALT FORECLOSURES

PostPosted: Tue Dec 06, 2011 12:29 am
by Tsnyder
Continuing this conversation is pointless because you keep writing
pages of irrelevant nonsense. There is nothing "new school" or magical
about the subject. It's pure real estate contract law.

1. Mortgages are not for sale... notes are.
2. I don't care how far under current loan balance you
buy the note you aren't getting a deed unless:
a. the mortgage has been foreclosed and the lender has the deed to give
or...
b. the homeowner signs away his interest in the property.

Unless one of those two things happen there is ZERO need for a lease to the home owner.

You are not saving anyone from anything.

HALT FORECLOSURES

PostPosted: Tue Dec 06, 2011 8:11 am
by WarrantiesForLess
Wow, this concept was short lived. lol Looks like they are about to be stopped.

Success to all,

Re: BELLA HOMES LAUNCHES MLM DIVISION To HALT FORECLOSURES

PostPosted: Sun Dec 25, 2011 3:14 pm
by Soapboxmom
https://docs.google.com/#folders/0B8Get ... Y3YTY0Mzdj

The actual filings made by Bella say it all. The issues they are raising are not standing up in court. Carefully read the court papers and see for yourself. The homeowners will likely find Bella cannot do the things it purports that it can do. They will pay thousands in rent and may lose their homes anyway. The reps would be well advised to research this thoroughly as they can be held legally liable for the representations they make to clients. In the end what the courts are ruling will be what matters.

Soapboxmom

Re: BELLA HOMES LAUNCHES MLM DIVISION To HALT FORECLOSURES

PostPosted: Sun Dec 25, 2011 9:52 pm
by Tsnyder
WarrantiesForLess wrote:You mean it wasn't clear enough for you, buyer of mortgage enters into agreement with homeowner which agrees with change in deed until which time homeonwer is able to remortgage where deed is again retained by homeowner. And you think there is no need for an agreement of terms? The leaseback is the agreement to terms, or do you think it would be OK to allow homeonwer to stay in their home with a handshake? lol

You say this is not saving anyone anything? Egads, is it not enough the homeowner can stay in their home and hopefully regain an equity position to qualify for new mortgage, never mind saving the expense of eviction, moving expenses, rental deposits, foreclosure hit on their credit reports, little chance of ever qualifying for a mortgage again, never mind the stress factor of facing foreclosure, and this is not saving anyone anything. You are right about one thing, no sense wasting anymore time explaining it.

Success to all,


Please point me to a single successful completion of a deal where the homeowner was able
to secure new financing and regain ownership of their home.

And please do not speak to me on this subject as if you think I know nothing. You originally
stated that Bella is simply purchasing the note at a discount. You said nothing about the homeowner
surrendering ownership to Bella. What you're now describing is a straight out short sale.

I doubt you can show one person who regained ownership after allowing a short sale to Bella.

Re: BELLA HOMES LAUNCHES MLM DIVISION To HALT FORECLOSURES

PostPosted: Mon Dec 26, 2011 12:35 am
by scottwilson
If the customer was able to obtain the property after a short sale, I believe that would be illegal. The banks have the ability to a short refi based on current value or a loan modification. So if someone is going in to buy the home at a short sale price and reselling it back to the homeowner they are equity stripping and doing preditory loans. Both of these actions hurt a career I loved for over a decade. If I find one single successful case of this happening I will call the states attorney general to report it myself. Its illegal and immoral to prey on people like this. I strongly advise people to stay away from this business.

Scott Wilson

Also if Bella wants to contact me directly to discuss this feel free to give them my number. This is a SCAM...With serious jail time involved to those involved.

Re: BELLA HOMES LAUNCHES MLM DIVISION To HALT FORECLOSURES

PostPosted: Mon Dec 26, 2011 1:44 pm
by Soapboxmom
WarrantiesforLess,

There are many issues you are not addressing. What about the fact the homeowner may be required to get the bank's / mortgage company's approval to transfer the deed in the first place? Will the lease agreement stand up in court?

SEC. 701. SHORT TITLE.
This title may be cited as the `Protecting Tenants at Foreclosure Act of 2009'.
SEC. 702. EFFECT OF FORECLOSURE ON PREEXISTING TENANCY.
............
(b) Bona Fide Lease or Tenancy- For purposes of this section, a lease or tenancy shall be considered bona fide only if--
(1) the mortgagor or the child, spouse, or parent of the mortgagor under the contract is not the tenant;
(2) the lease or tenancy was the result of an arms-length transaction; and
(3) the lease or tenancy requires the receipt of rent that is not substantially less than fair market rent for the property or the unit's rent is reduced or subsidized due to a Federal, State, or local subsidy.

Arms-length would probably not include getting the title to the property and then leasing it right back to the note holder who is now delinquent as Bella has told the client to quit paying on the note and is raking in rent.

Read those court documents linked in my earlier post and tell us how successful Bella has been at arguing that the original loans were illegal or unconscionable in any way. Bella, since it was not a party to the loan, doesn't even have standing in court to raise those issues, do they? If there was any issue with the loan, the statute of limitations would likely have passed anyway.

Lots of serious concerns with this program.

Soapboxmom

Re: BELLA HOMES LAUNCHES MLM DIVISION To HALT FORECLOSURES

PostPosted: Fri Dec 30, 2011 4:54 pm
by Soapboxmom
An incredibly wonderful birdy has been sending me very fascinating court documents. Daniel David Delpiano spent time in prison and was deposed in a civil case related to the criminal complaints while still behind bars. That scum plead the fifth for every question put to him by that attorney in the civil case. She had the right to ask the judge order him to answer. Delpiano admitted he wouldn't answer due to possible additional criminal charges. Who in their right mind would do business with Bella Homes knowing about the following???:

https://docs.google.com/?authuser=0#fol ... Y3YTY0Mzdj

Re: BELLA HOMES LAUNCHES MLM DIVISION To HALT FORECLOSURES

PostPosted: Mon Jan 02, 2012 11:35 am
by Sharon B
WarrantiesForLess wrote:Agreed,

I had a client which did not qualify, too close to auction date, but they paid nothing, so are you saying you knew someone who was accepted into program, and then was foreclosed on after the fact. Were they at point of agreeing to final agreement, or were just not accepted into program? As to promises, there is no promise unless they are accepted after the free forensic mortgage audit. I am not looking for arguments, just the facts, so I appreciate any input from valid information, not just hearsay, so please elaborate for all to see.

Success to all,


Hi WarrantiesForLess - sorry for the delayed response I didn't follow the thread after posting but found it again just now. So to answer your question concisely, the client I corresponded with was accepted into the program over a year ago. Foreclosure proceedings with their lender continued while they paid Bella their "lease" payments. It was confusing to the clients as to why they continued to get foreclosure notices when they thought Bella was negotiating on purchasing their note or at least embroiled in a lawsuit. After six months of receiving threatening notices from their lender they stopped making lease payments to Bella, but the key part of this report is that they then asked Bella to produce proof of the attempts to purchase their note or at least proof of any lawsuit filed. The response? Nothing. Nothing at all.........Foreclosure sale date was set for sometime December, 2011. I haven't followed up with the ex-Bella client on what happened as it was clear to me they were in a world of hurt. When they asked their lender what was going on with Bella negotiations the lender responded that they had never heard of Bella and there was nothing in the notes about an offer to purchase the note nor any lawsuit filed. (Yes I understand intimately that lenders may not have accurate notes in their system - but it was one more nail in the coffin for the clients). Clearly you can state that there is a myriad of reasons behind the scenes as to what happened here - but what got me was the no response from Bella when asked for some sort of proof that they did what they promised to do in return for the deed to the property AND the lease payments. If they had done what they claim to do - it should have been NO problem to cite the court case number for the clients to check out - but no such number ever materialized. So now, you say you didn't want me to post "hearsay" - I have posted what a actual ex-Bella client confided in me - you can decide from here what that means to you....
What worries me is that the FTC does state that all resellers of a scam CAN BE held responsible for repeating the claims of the company even if they believe the scam to be publishing correct information. All I'm suggesting is that everyone do a bit more research on the details of what the program offers and what their claims are FOR THEMSELVES.
I'll give one example (but there are MANY more): The claim that the 2009 Tenants Act protects the new tenant (ex-owner) from being evicted and/or the property from being foreclosed upon (listed on Bella's Q&A sheet) is just pure garbage. Please READ the 2009 Tenants Act and you will see that for this act to be viable in the Bella structure there has to be an ARMS LENGTH tenancy. Because the ex-owner just deeded the title to Bella immediately prior to the lease agreement this becomes a NON Arms Length transaction and thus the 2009 Tenants Act DOES NOT apply. Period. Go check it out (and a bunch of other items) for yourself and see that I actually know what I'm talking about (I have been in real estate for 20 years myself).
You might want to also go check out the results of the cases that Bella HAS filed for some other clients. I have seen the results for myself and the word "dismissed" is the common result. Do you know what that means? Eventually those clients get the deed to their home back and are foreclosed upon. This is even covered in the Bella Q&A as a possibility for a percentage of clients...I'll be honest - I humbly believe that "possibility" will happen 100% of the time.
You might want to also consider that Georgia filed a Cease and Desist on Bella May, 2011. The Cease and Desist was filed based upon Bella's Lease Back Program and NOT for issuing loans (as I've seen Bella defenders claim). Call the Georgia Dept of Finance and hear this directly for yourself .......and no, Bella has not contested this Cease and Desist motion as resellers claim they have - again call the Georgia Dept. of Finance directly and thus no hearsay can come into play here. If you choose to not check out each of these items for yourself - then - well - of course that is your choice!

Re: BELLA HOMES LAUNCHES MLM DIVISION To HALT FORECLOSURES

PostPosted: Mon Jan 02, 2012 12:15 pm
by Sharon B
Tsnyder wrote: You originally
stated that Bella is simply purchasing the note at a discount. You said nothing about the homeowner
surrendering ownership to Bella. What you're now describing is a straight out short sale.

I doubt you can show one person who regained ownership after allowing a short sale to Bella.


Hi Tsnyder and others on this thread -
I can address your comments (and others on this thread) as I was a naive reseller myself for several weeks. When my many questions weren't being answered to my satisfaction (again I've been in real estate for 20 years) - I dug a lot deeper and found out enough that I RAN AWAY FAST!! Luckily I never submitted any clients to the program - although I never would have if my questions weren't all answered to my satisfaction.
ANY way - What Bella is claiming to be doing is NOT a short sale. As outlined in their website: Bella has the underwater distressed homeowner deed their property to Bella in exchange for the ex-homeowner to now pay lease payments to Bella. WHY would anyone do this? Well - what they CLAIM to do is attempt to purchase the one-off note at a steep discount from the lender OR file enough lawsuits against the lender that the lender will give in and sell the note (again at a steep discount) - OR the courts will decide in Bella's favor and offer benefit on the note for Bella to take advantage of. This is strictly NOT a short sale as Bella already has ownership and all they are claiming to do is then also buy the note. If successful - then Bella has the deed and the ownership of the discounted note and thus PURPORTEDLY the ability to re-sell the property to the ex-owner at a favorable discount. (Without going into the many DETAILS - this by itself - COULD actually occur if the DETAILS were tended to correctly - but keep in mind that Bella must have huge BUCKS behind them in order to purchase these notes. I'll let you think further for yourself on that topic). The ex-homeowner is enticed with the prospect of being able to purchase their home back in 3-5-7 years from Bella at 90% of FUTURE market value (minus 60% of their "lease" payments) so that the homeowner ends up re-owning their home WITH equity!! (God only knows what the value of the home will be in 3-5-7 years - but that is another lengthy topic!!).
For those of you in real estate there should be endless questions about how this all can play out as advertised - and without a doubt you are absolutely correct in your head scratching questions. It just won't play out as advertised - and so trying to figure it out will cause a mental hemorrhage because there are many holes that make the program unworkable.
The ONE piece to the puzzle that I'll give to Bella is that for those that they do file a nuisance (BOILERPLATE) lawsuit on - the clients ARE afforded a bit of extra time in their home waiting for the court date before the lender can foreclose. But understand that in exchange for that extra time - BELLA profits from the monthly lease payments. So for those D-E-S-P-E-R-A-T-E souls who are willing to pay the 3 months "discounted" lease payments upfront and monthly thereafter AND deed their property to Bella (VERY STUPID) to have Bella file nuisance lawsuits to stay in their homes for a bit longer - then OK. BUT for any client who even remotely thinks they'll be getting the opportunity to buy the property back from Bella WITH equity is vastly, VASTLY misinformed.
I get extremely frustrated with resellers who regurgitate what Bella spouts - but do not look into these DETAILS for themselves to see that what they are being fed is just pure unadulterated garbage that they are passing on to unsuspecting and desperate folks who for the most part are looking to the resellers for guidance and factual knowledge. Not cool is all I can say.....

Re: BELLA HOMES LAUNCHES MLM DIVISION To HALT FORECLOSURES

PostPosted: Wed Jan 04, 2012 12:51 am
by JACkElEzabeTh
Warren Buffet to bail out Bank of America, now you know we are in trouble. lol Simply put, the foreclosures are going to increase over the coming years and the real estate bottom has not been hit in most areas of country to date.

HALT FORECLOSURES

PostPosted: Fri Jan 13, 2012 2:43 pm
by WarrantiesForLess
Thanks,

Re: BELLA HOMES LAUNCHES MLM DIVISION To HALT FORECLOSURES

PostPosted: Sat Jan 14, 2012 12:34 pm
by Sharon B
Hi WarrantiesForLess -
I truly appreciate your reply.
You made a couple of points that I agree with - most of the rest I don't.
I guess time will tell whose opinion on this matter will turn out to be correct.
The one item that probably got to me the most - was in one of your original posts - you used the word "guarantee" (of no foreclosure if clients are accepted into the Bella program) - I hope you are willing to at least back off on that as it is at best false advertising (even from Bella's standpoint).
On the other hand, I am personally a bit confused as to what has happened (or better put; what has NOT happened) by the state of Georgia on their Cease and Desist - and so as of now - I am personally backing off on that topic as I'm unimpressed with any appearance of follow up on that Order and am now questioning either the teeth of that Cease and Desist or what indeed it actually applied to.
Mark Diamond? I don't know a thing about him - so no comments there from me.
The point that has been repeated in this thread about the concern of value in 3-5-7 years is that Bella states, in writing, that the homeowner will be contracted to being able to re-purchase the home at 90% of then market MINUS 60% of lease payments. How can they offer that when they have no idea what they are going to be purchasing the note at - and then what the property will be valued at in 3-5-7 years? If the property is worth LESS THAN what they buy the note at today in 3-5-7 years - how in the heck can they make good on their option purchase contract to the homeowner? They can't...or won't as they'll lose money. Any company who sets themselves up for a contract that they MIGHT not be able to fulfill is dangerous at best. You glossed over this point in your reply above - which I don't understand.
Buying one-off notes from individual lenders? My experience has told me over and over that the big banks rarely if EVER sell one-off non-performing notes. Why should they? The process of a short sale will get them somewhere in the 70-90% of market value as well as avoid the foreclosure process. However, many investors are OK with foreclosure as they have foreclosure insurance which brings them closer to whole even over a short sale. Banks will sell off BULK NPNs but certainly hardly EVER one-off to individual investors. (yes, there will be one or two exceptions - but that will be about it).
Our personal experiences in real estate have brought us to diametrically opposite opinions on the legitimacy and prospective success of Bella Homes, LLC. As I said in the beginning of this post - time will tell which of our opinions turns out to be accurate. In the meantime - until I am proven wrong by SEVERAL actual successful client re-purchases of their homes - I'm staying far far away from Bella Homes simply because of their sales tactics and false advertising. (Perhaps they could start advertising that they are "the best current choice at postponing foreclosure"........and leave out all of the other re-purchase crap....then I might not be quite so enraged by their program's mis-leading advertising).

Re: BELLA HOMES LAUNCHES MLM DIVISION To HALT FORECLOSURES

PostPosted: Sun Jan 15, 2012 3:23 pm
by WarrantiesForLess
Agreed,

Stopping foreclosure is an open term, so I understand how it could be miscontrued, so let us clarify it. Yes, if you are facing foreclosure, just as a bankruptcy will stop it, so too will legal action, even if, as you refer to it, as frivilous, never the less, it will stop action until it goes before a judge. Needless to say, no one can say anything is absolute, but we do know it stops foreclosure action, as it has for my clients, but like you say, it could be only a stoppage for X amount of time, or until bank agrees to purchase note offer. Again, as I see it, this is a strategy to first, stop impending foreclosure, and it does work, and then allow time to dictate if offer is accepted.

In every case I have seen, every homeowner is in a reverse equity position, not just a little, but by more than 20% in many cases, and as you must know, the banks are getting hammered by regulators, just ask Bank of America if you don't believe it, I know several contacts, and the situation is far worse than most realize, and for good reason, if more people learned the truth, everyone would be challenging their mortgages and title ownership, and if this got out on major media, guess what would happen? Everyone would be jumping of the forensic mortgage audit bandwagon. I have seen enough already to know this is a problem that is not about to go away anytime soon. In fact, their are millions of foreclosures on hold for this very issue, banks were hoping to settle with AG's for several million, but this is a billion dollar issue, and much of the fraud is not even known yet that these banks screwed people on.

I understand your concern, and no doubt, I had a few issues with customer service too in beginning, and for good reason, they just launched this division, and having been involved in many business start ups, I tend to understand the issues, whereby a client may not, so we all voiced our concern, so again, time will tell, they seem to be on top of things better now, so if I see issues continue, I will say so. There will never be a case where everyone will be happy with response times givne the stress of the issue of foreclosure, so I can understand people wanting to know where they stand minute to minute, I have been in this industry long enough to know what to expect with mortgage industry, real estate closing dates, and on and on when dealing with buyers.

No one can guarantee success for every client and every situation for there are just too many variables, but I do know banks are looking to unload these under water mortgages at up to 50% of balance, in fact, I just got word back that bank is accepting a buyout at 50%, and another at 70% which demostrated to me just how bad this mortgage fraud issue really is. This is a moving target, so we just don't know what the outcome will be with dozens of states suing banks and banks wanting to settle before the truth really hits the main media that up to 70% of all mortgages written in last decade are defective, no clear title trail, and worse, outright flawed and fraudulent underwriting. Sure is an interesting finding, so I liked what I saw being offered, for it is the only strategy most homeowners have in foreclosure outside of eviction, so again, what would you do if facing foreclosure? This is how I explain it to each client, so I will not say guarantee without explaining it is only until bank accepts offer. Thanks for you knowledgable input, this is a learning experience for most of us given something like this has never presented itself before. Who would have thought all these banks were such fraudsters. lol Time will tell, but it doesn't look promising once regulators start looking at it.

Success to all,

Re: BELLA HOMES LAUNCHES MLM DIVISION To HALT FORECLOSURES

PostPosted: Mon Feb 13, 2012 3:17 pm
by Sharon B
Update: US Attorney's Office is now investigating Bella Homes.
By all means I'm sharing with them everything I know...
Any one who has been defrauded by Bella Homes -
Please call
Craig Tische at 1 303 454 0461 as soon as possible.

Re: BELLA HOMES LAUNCHES MLM DIVISION To HALT FORECLOSURES

PostPosted: Fri Feb 24, 2012 10:05 pm
by Soapboxmom
http://www.realscam.com/f15/bella-homes ... #post16171

The United States and the State of Colorado have sued Bella Homes LLC, Mark Stephen Diamond, Daniel David Delpiano, Michael Terrell, David Delpiano in US District Court in Colorado. They have been shut down!!!!

Soapboxmom

Re: BELLA HOMES LAUNCHES MLM DIVISION To HALT FORECLOSURES

PostPosted: Fri Feb 24, 2012 11:11 pm
by Tsnyder
Soapboxmom wrote:http://www.realscam.com/f15/bella-homes ... #post16171

The United States and the State of Colorado have sued Bella Homes LLC, Mark Stephen Diamond, Daniel David Delpiano, Michael Terrell, David Delpiano in US District Court in Colorado. They have been shut down!!!!

Soapboxmom


It's fun to be right... LOL