Stuart homeowner Patricia Gelineau thought her home would be sold today in a foreclosure auction, even though she had been working on a loan modification with the owner of the mortgage.
But after a story in The Palm Beach Post last month described Gelineau’s situation and the barred practice of dual tracking _ proceeding with a foreclosure while negotiating a loan modification _ a Martin County judge canceled today’s sale. Dual tracking is not allowed for in the National Mortgage Settlement signed by the nation’s five largest lenders last year.
That doesn’t mean Gelineau’s fight to keep her home is over. The sale has been rescheduled for Sept. 10, but if Gelineau decides to keep the house, she will at least have additional time to meet the trial loan modification offered by her bank. The first payment on the modification is scheduled for July 1.
Gelineau’s offer for a loan modification came two weeks after the bank won its final foreclosure judgment against her.
“Although denying any wrongdoing, the bank suddenly had no objection to postponing the sale, during a special hearing on Thursday, May 30, before Martin County Judge James McCann,” said Jim Weix, broker/owner of The Real Estate Company, Treasure Coast.
Weix, who helped Gelineau connect with an attorney, also called The Post about her story.
Gelineau’s mortgage servicer is JPMorgan Chase. The owner of her loan is Fannie Mae. She says she was working with Fannie Mae to modify the mortgage when Chase moved to foreclose on her.
“They just get paid to push paper, and since I don’t know any better, it’s come down to where I do feel that one hand does not know what the other is doing, and certainly I am at the very bottom of the heap in understanding where I stand or what is being done,” Gelineau said.
This entry was posted
on Tuesday, June 4th, 2013 at 7:52 am and is filed under Florida economy, Foreclosures, Mortgages, Uncategorized.
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