list Home Equity loan as unsecured?

[neverwilllearn]

6 attorneys contracted, 6 say my case has merit and I'd probably win, 6 say, they however, that my iadversary ssue is more than they want to handle. I can see their point. They can take in 10 standard Chpt 7 or 13's, in the same time to do my Chpt 13 and adversary case.

So, I have started the process myself and have 12 days left to get in my schedules. The issue that I face, if you could help please, is how to list the Bank who did my non-purchase equity loan. This Bank, falsified on the contract that I signed the valuation of my house. According to their own in-house Freddie Mac appraisal recieved 9 months later, it was actually valued at a$15,000 less that what they typed on the contract. So, falsification of a document, "truth in Lending", and thus by using the Freddie Mac amount, they violated Texas law that says banks are prohibited from extending Home Equity loans where the sum of the 1st and 2nd mortgage exceed 80% of the Fair Market Value.

My question, do I put the Bank on the secured list, as contested or as unsecured, as an attorney suggested in order for the Bank not be paid a nickle until the Judge decides the Adversary case. I would certainly appreciate your expert opinnion.

 

[HomeGuru]

It is easy. The documents speak for themselves.
The home equity loan is a mortgage therefore the lender is a secured creditor.
The beef that you have with them is an unrelated issue and a complaint must be filed in State or Federal District Court and not the BK Court.

 

[neverwilllearn]

Thanks, Mr. Guru

Thank you. I thought it was a bit strange when a bankruptcy attorney suggested I list the equity loan as unsecured... so, I appreciate your sensible wisdom.

Fighting a BIG bank apparently is scarry for many attorneys. Because I have searched outside the bankruptcy arena for one, and they are all interested until I mention the Bank. Then they back off. Good case but you're fighting a Trojan. As a little person, without the money to finance a war, I figured the bankruptcy system was the only forum that I could be heard. I won't get a nickle but I understand they have the power to strip a lien.

Now if an individual can file via the State courts or the Federal Courts without an attorney, please let me know.. because I am loaded with the documents and the federal and state codes that they violated. Thank you for your help.

 

[bigun]

Let me make a suggestion. www.creditnet.com has a discussion board that covers a number of credit issues and is quite active. Post your story over there and ask about lawyers. The reason I mention this, is in the past few weeks, several posters have put up web sites of lawyers that are suing creditors and collection agencies and winning. The posters say the lawyers are very approachable and return phone calls and emails promptly. Might be worth a shot. Good luck!

 

[HomeGuru]

You can file pro se in those Courts but unless you knw the procedures and rules of evidence the Big Bank will hire their top 10 lawyers and roll over you.

Contact HUD and read the Homebuyers Protection Act for ideas. Also check out the Fannie Mae and Freddie Mac websites and research your State Statutes. Check out State and Federal banking regulations.

 

[neverwilllearn]

Mr. Bigun & Mr. Guru, Thank You!!

What great ideas!.. I will contact the website and research the HPA and Freddie Mac Sites right away. I need all the big guys I can get to put their muscle to the Bank. They are big and they know it and know that anyone who filed for an equity loan in the first place can't possibly have the finances to fight against their 10 top lawyers over their "little contractual fabrications and violations". They just don't know this little girl! Yes, the rolling-me-over would bring me down to my knees so I need the Bigger guys like the ones you mentioned in my corner. I have also gotten a response from the New York legal firm of Lieff, Cabraser, Heimann & Bernstein LLP after I sent them all my documents. (I believe they did the class action for Firestone). They called again yesterday to say they are working on finding all US codes affected in this matter. My only concern is the lengthy time that a class action will take, while I am still forking over $400 a month to the Bank. And in the end, I would probably only get a coupon to save $1 on monthly checking account fees from the very bank I am suing.

So, if I can site the law to HPA, Freddie Mac, the Texas Attorney General and have everything protected, in the meantime, under the B-13 umbrella... then maybe, they can Slam Dunk the Bank. I just needed to know where else to go.... and you both have helped tremendously. Thanks Again.