Homeowner wins back home by fighting foreclosure

Karen Mena, a 38-year-old county worker in San Bernardino refused to accept foreclosure as the end of the road and move on. She has had a foreclosure rescinded, something virtually unheard of in California where the foreclosure process is well structured and established. Karen Mena’s case could well set a new trend in reversals as realtors, homeowners and attorneys learn to identify foreclosure errors and exploit them.  Karen Mena found herself enmeshed in her bank’s complex dual-track process where the lender continued to foreclose on her home even as it worked with a borrower to modify the home’s mortgage, a situation compared with lining up an undertaker while the patient was checking into a hospital. Not being able to afford an attorney, Mena prepared her lawsuit with the assistance of a paralegal.

Rick Smith is one of only a few Realtors statewide to have accomplished a recission on behalf of his client.  In Rick’s case, in San Jose in 2008, the lender issued a written, formal short sale approval, only to foreclose on the home 4 days later.  Rick was able to force the lender to rescind the foreclosure, put his client back on title and allow the buyer to close escrow.  Rick’s client received Full Settlement Language on the short sale and the lender paid all of the costs.

Rick Smith is a realtor backed by decades of experience in Santa Clara. He has made a careful study of foreclosures and has helped many a hapless homeowner to avoid foreclosure. In several cases, a short sale has been the only viable alternative. In the course of his career, Rick Smith has developed a rapport with lenders which has helped significantly during his short sale negotiations. For more details of foreclosures and how to avoid one log on to http://www.ricksmithrealtor.com/

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