Chase parallel foreclosure victim wins house back
By Henni Espinosa, ABS-CBN North America Bureau . Redwood Shores, CA – 73-year Corazon Palma made history when she became the first person in California to win her house back from her lender even after her 4-bedroom house in San Jose, California was foreclosed.
Palma staged a battle against Washington Mutual through a wrongful foreclosure lawsuit – and she refused to back down.
Palma is a cancer-survivor who lives on a fixed income. So in 2008, she asked her lender to lower her monthly mortgage payments of $3,900 a month.
A year later, she said that her lender promised to send her a loan modification packet. Instead, a Coldwell Banker real estate broker came to her house to notify her that her house had been foreclosed at a Trustee Sale.
Palma said, “I was so shocked. It felt like a bucket of cold water fell on me. When they gave me the note, I called my attorney.”
She sought the help of Attorney Kenneth Graham, who represents many Filipino homeowners in Northern California.
Graham said, “WAMU deceived Mrs. Palma into thinking they were making loan modification efforts on her behalf while they were secretly planning a foreclosure sale on the property.”
Her fight in court paid off. Last January, a judge ruled that Palma be awarded back her house.
Last Friday, she attended a court hearing in San Jose to find out the terms of the judgment. Palma would have to wait until December 3 to know if she will end up getting her house back for free.
Graham said, “The best case scenario for Mrs. Palma is if a judge rules that the lender has no further right to exercise the loan against the property. Hence, Mrs. Palma gets the property for free.”
Worst case scenario for Palma – is that she continues to pay her mortage but at a lower monthly rate.
No matter the judgment, Palma said she’s glad she won the fight to keep her home.
She said, “But I know other homeowners are being abused as well and lenders really need to be taught a lesson for deceptive practices to stop.”
If you are an abused homeowner and feel that your house has been wrongfully foreclosed, you may contact the Law Offices of Kenneth Graham at (925) 932-0170 or visit their office at 1575 Treat Blvd. #105, Walnut Creek, California or their website, www.elaws.com.
Foreclosure, Lawsuits, Loan modification | admin November 10, 2010
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By Alessandro Machi, November 12, 2010 @ 2:35 pm
lol, I checked the original story and the reporter did not use the term “Parallel Foreclosure”, even though that is exactly what happened to her and you are correct for using it in your title.
By Alessandro Machi, November 12, 2010 @ 2:36 pm
her, as in the homeowner.
By Marguerite, May 2, 2011 @ 3:12 am
God Bless the American people. God Bless Attorney Graham, Let us hope he isn’t killed before his time. You all must know that most attorneys do not have or take the moral high ground. Most Attorneys are part of the problem, not the solution. Is there anyway we the people i out of every10 citizens are facing forclosure due to no fault of there own. Study the IRS laws on Real Estate Income Conduits (REMIC’s) and you will find that they are tax shelters and were illegally used to sweep up single family dwellings, actualy the are forbidden to have one to four unit properties period that is why RESPA addresses one to four family units. We the people need to be pro se litigants with attorney Grahams help. If Graham made his legal pleading templates we could all file in federal Court under federal question and/or federal diversity. Send me help any way you can I must file a lawsuit against an illegal trustees sale. marguerite_benoit@q.com
By Marguerite, May 2, 2011 @ 3:19 am
God Bless Cora Palma. My she have her title to her house free and clear. May we all take back our soverign power. One of Ten Americans face foreclosure, this is the final rending of the National Fabric. GREED HAS OUTDONE ITSELF. STAND YOUR GROUND AND FIGHT. STAY IN YOUR HOMES WITH ALL YOUR MIGHT. POST LEGAL NO TRESPASS SIGNS ON YOUR PROPERTY IN ACCORDANCE WITH STATE OR COUNTY RULES .