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Thread: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

  1. #26
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    35. Do clients repurchase at 90% of the value today or in 3 years?
    They purchase the home at 90% of the appraised value at the time they buy property back from Bella Homes.

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    36. After three years of renting, if the client can't afford to buy do you offer to rent to residence again?
    Yes. Bella Homes will extend the lease.
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    37. What if someone is referred to us who has a $150,000 mortgage? Do we tell them no?
    Yes, Bella Homes does not work with houses in that price range.

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    38. At exactly what point do the renters have to pay the 1st, last and security deposits?
    The first and last 2 months of lease payment are due at the time of lease signing. We require a cashier's check made payable to Bella Homes, LLC.

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    39. On condos, will the past due HOA's (Home Owner's Association) be brought current as well?
    Not unless required by state law.

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    40. What if the client is current and wants to take advantage of this program and he/she generally fits our type of deal? Would this be something to consider?
    Yes, but the client needs to understand Bella Homes will not be keeping their mortgage payments current, so they will take a “hit” on their credit. However, at the same time Bella Homes purchases the mortgage we will return the mortgage docs stamped paid in full and report it to credit agencies.

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    41. Once a transaction is approved by Bella Homes, who schedules the closings?
    The VP of operations in Atlanta will coordinate all closings. If the closing is in a territory we currently do not have a presence in she will negotiate with the closing attorneys and/or escrow companies rates and procedures. Once we have the title report and a green light to move forward, she will coordinate with the closing entity and the client on a date and time that works for both parties.

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    42. What happens if the bank is just stubborn, will not settle, and lawsuit goes to fruition, and the judge rules against Bella, even though he is wrong.
    Bella deeds the home back to the homeowner, and the homeowner owes the original debt with interest over the years as well as back taxes over the years.

    The appraised value could be quite interesting. It depends on what appraisal is being used. The central appraisal districts have a value for tax purposes. Private appraisers, depending on the comparable properties they choose, can come up with a broad range of values for the same property. So, what appraisal method is Bella using?

    3 Months rent plus a security deposit is a huge sum to fork out. I would think that money would be better spent getting legal help and paying toward the existing mortgage while trying to work out a deal with the mortgage company. Folks will definitely take a huge hit on their credit for getting involved in this flaky deal. And this promise of mortgage docs stamped paid in full seems extremely fishy. Does Bella send that only in the cases where they already have purchased the mortgage and have a clear title? Do they send that out after you have signed over the deed supposedly for the full mortgage amount even though it is not paid and Bella has only agreed to attempt to buy it at pennies on the dollar? If it is sent out before Bella owns the home, then it seems it would be fraudulent.

    Who in their right mind would get into this knowing they could be paying rent for nothing and end up with Bella dumping the house back on them with all the back payments, late fess, interest and possible back taxes and penalties to boot. Who could dig their way out of that mess???

    Soapboxmom

  2. #27
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

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    45. After property is rented/leased out, who is responsible for the maintenance if the A/C is broken or there is a leak on the roof?
    The tenant will be responsible for all repairs due to the fact they are leasing their property back for approximately 50% of mortgage payment. However, for larger repairs or home improvements to the property that are approved in advance by Bella Homes, they will receive a credit for the amount paid in repairs or improvements at the time they repurchase their home.

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    46. What happens to the homeowners insurance and will delinquent taxes be brought current by Bella?
    Bella Homes does not maintain an insurance policy for homes that are upside down in equity. However, the mortgage companies put insurance on all their mortgages once the homeowner stops making payments, which goes onto the principal balance of the mortgage. It does not make sense for Bella Homes to carry a separate policy because it would be double insured. When the mortgage company puts a policy on the house they will send a copy to the homeowner, but it could take 60 to 90 days. The homeowner would need to apply renters insurance to insure their personal belongings. Delinquent taxes will not be brought current by Bella, unless required by state law. The taxes will be settled by Bella Homes at the time it purchases the mortgage from the lender.

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    47. How long has Bella Homes LLC been in business?
    Since April 2010. Bella is a subsidiary of Diamond and Associates which has been around 19 years in the financial services and real estate industry.

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    48. How many completed transactions has Bella Homes done?
    Bella Homes is a privately owned company - no data can be disclosed. However, Bella has a goal of reaching ownership of 10,000 homes in next 3 years.

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    49. Can I sublease my property?
    Yes you can sublease your property with permission from Bella.

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    50. Can the Bella Homes program be compared to a traditional rental program?
    Our program cannot be compared to a traditional rental program because of the benefits we offer to the homeowner. Our program allows the homeowner to stay in their home. Our program prevents the homeowner from facing a deficiency judgment. Our program offers a 60% credit of rent payments at closing (so a monthly rent payment of $3150 calculates to $1890).

    Some rental deal. You pay all repairs and there is a chance a large repair could be credited (at Bella's discretion if you got pre-approval) at the closing of the repurchase of the property.

    If the original homeowner's name is on the loan papers I do not see how Bella is going to protect the homeowner from a deficiency judgment. The party(ies) signing the loan papers are legally and financially responsible as far as I know.

    I see a lot of money going into the attached pyramid scheme. Otherwise, what incentive is there to get involved??? A homeowner might be able to stay in their homes. Might!

    Soapboxmom

  3. #28
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    52. What is the Foreclosure Act of 2009?
    This protects tenants from eviction because of foreclosure on the properties they are renting for the term of the lease. However this law does not allow for the homeowner to deed their home over to a friend or family member and then lease it back from that person. In this case the bank most likely would be able to evict. The sale must be a Bona fide sale to a real company like Bella Homes.

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    53. Is there any recourse the client's second mortgage holder may have against them during this process?
    Lenders want to mitigate their losses when dealing with defaulted mortgages. One of the documents the client signs at the Bella Homes' closing gives Bella Homes authorization to speak to and negotiate on the clients behalf with the mortgage company. Once that document has been sent to the mortgage company they can no longer harass the client. In the event they contact the client once this document has been filed, they can be fined. In the event the second mortgage holder files a lawsuit against the tenant (rare), Bella will defend the tenant in that action.

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    54. What is an example of one of the strategies Bella Homes uses?
    One of the steps we take with each file is to have a forensic review conducted of the client's mortgage documents. Once this has been completed and fraud has been found, we will file a Temporary Restraining Order (TRO). At the time the TRO is filed, the bank can no longer collect on an illegal mortgage and the TRO stops all collection activity. If the mortgage is found to be illegal, we can get the derogatory taken away from the clients credit report. If the lender attempts to foreclose or take any action against the tenant, then Bella can take legal action against the lender.

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    55. I am upside down on the mortgage with perfect credit. Can Bella Homes determine PRIOR to signing the Bella Homes agreement, if my loan documents are such that a contested strategy would have a good chance of success? If not, I could lose my house and destroy my credit as well.
    Bella Homes is unable to determine prior to signing and closing whether or not the loan documents are legal and can be contested due to the fact that Bella Homes does not have or obtain loan documents from a prospective client prior to closing. The due diligence and legal review in that regard is expensive and Bella Homes will not go through that process until the file has closed. What we recommend is for a Homeowner whose house is upside down but has good credit and wants to keep the home and their good credit is the following. They become a Bella Homes client and after we close we will move immediately to draft a lawsuit and file that lawsuit with the court, asking the court to issue a TRO prohibiting the lender from foreclosing and putting a derogatory on their credit report. However, keep in mind that there is no guarantee that the court will do that. But, if the mortgage is illegal that will eventually be decided and any derogatory will be then removed from their report. The homeowner should not be in jeopardy of losing the property because there will be a lease on the property which will keep them protected. The bank has to honor the lease and due to the fact that banks are not interested in becoming landlords, Bella Homes will still continue to pursue to purchase that mortgage from the lender and once it is purchased reclassify the status on the credit report. Bella Homes will also defend any challenges that a lender may decide to challenge on the lease. However to this date this has not happened with the banks.

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    It is obvious from the law and the court cases Bella is filing that these leases are not likely to 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.
    I am not sure how Bella can keep a lienholder from contacting someone who has signed legal loan papers with that bank or mortgage company. I think the name on the loan is the issue. Having seen what court papers I have, I sure wouldn't want to depend on Bella's legal buffoons to defend me in a suit.

    TROs are public record. How many have been successfully filed and then become permanent injunctions? Let's look at Texas:
    Tex. R. Civ. P. 680
    Temporary Restraining Order
    No temporary restraining order shall be granted without notice to the adverse party unless it clearly appears from specific facts shown by affidavit or by the verified complaint that immediate and irreparable injury, loss, or damage will result to the applicant before notice can be served and a hearing had thereon. Every temporary restraining order granted without notice shall be endorsed with the date and hour of issuance; shall be filed forthwith in the clerk's office and entered of record; shall define the injury and state why it is irreparable and why the order was granted without notice; and shall expire by its terms within such time after signing, not to exceed fourteen days, as the court fixes, unless within the time so fixed the order, for good cause shown, is extended for a like period or unless the party against whom the order is directed consents that it may be extended for a longer period. The reasons for the extension shall be entered of record. No more than one extension may be granted unless subsequent extensions are unopposed. In case a temporary restraining order is granted without notice, the application for a temporary injunction shall be set down for hearing at the earliest possible date and takes precedence of all matters except older matters of the same character; and when the application comes on for hearing the party who obtained the temporary restraining order shall proceed with the application for a temporary injunction and, if he does not do so, the court shall dissolve the temporary restraining order. On two days' notice to the party who obtained the temporary restraining order without notice or on such shorter notice to that party as the court may prescribe, the adverse party may appear and move its dissolution or modification and in that event the court shall proceed to hear and determine such motion as expeditiously as the ends of justice require.


    Every restraining order shall include an order setting a certain date for hearing on the temporary or permanent injunction sought.
    Temporary is the key word and Bella will have only days to go into court with good cause to make that stick. And, the mortgage company / bank's attorney(s) will have plenty to say about that! The chances the mortgage will prove to be illegal appear to be very slim.

    Most of what is proposed in the last item would fall into the category of fantasy. That stuff would make a good episode for a Fantasy Island remake. How about we change no guarantee to almost no chance!

    Soapboxmom

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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    To Soapboxmom......How do you know for sure that Bella Homes is a scam and that they don't do what they say that they will do? I don't think that anyone would consider dealing with them if it wasn't their last resort before they loose their home to foreclosure. It's a well known fact that the banks and mortgage companies are not doing anything to keep people in their homes. And the governments making homes affordable is not doing much either. If it was, then why is there still so many people that are loosing their homes? Have you or anyone that you know been ripped off by Bella Homes? I have done research on them and I can't find anything against them, other than people that haven't actually used them, making comments about what they think they might be. I can't find any government actions against them. And they have been around long enough that if they were scamming lots of people, then the government would be all over them. And their rating with the BBB is not bad. They had one complaint that was resolved. I really can't find anything bad about them, but I really don't find anything good about them either, like someone that they have helped.

  5. #30
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    Quote Originally Posted by barefoot View Post
    To Soapboxmom......How do you know for sure that Bella Homes is a scam and that they don't do what they say that they will do? I don't think that anyone would consider dealing with them if it wasn't their last resort before they loose their home to foreclosure. It's a well known fact that the banks and mortgage companies are not doing anything to keep people in their homes. And the governments making homes affordable is not doing much either. If it was, then why is there still so many people that are loosing their homes? Have you or anyone that you know been ripped off by Bella Homes? I have done research on them and I can't find anything against them, other than people that haven't actually used them, making comments about what they think they might be. I can't find any government actions against them. And they have been around long enough that if they were scamming lots of people, then the government would be all over them. And their rating with the BBB is not bad. They had one complaint that was resolved. I really can't find anything bad about them, but I really don't find anything good about them either, like someone that they have helped.
    Welcome to RS, barefoot! I think the answer is what Bella Homes claims they can do simply doesn't make sense. From the few court documents I have read they have not had a leg to stand on in court. Most of the issues they raised bordered on nonsensical. I will post the rest of the ones a wonderful birdy sent me and then use my PACER access to follow those and post additional ones that become available.

    The State of Georgia issued a Cease and Desist against them and I think there will be more of those to come. Only a tiny fraction of victims complain, but as Bella fails to save homes from foreclosure and the court cases continue to blow apart and be dismissed or see more serious fall out for Bella, I have no doubt the complaints will flood the internet sites available for it. There are just too many aspects of this deal that are questionable to say the least.

    My heart goes out to all those struggling to hang on to their homes, but I don't think Bella is the answer.

    Soapboxmom

  6. #31
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    56. When the home is sold and the original loan is resolved for less than the amount due, is there a document waiving the deficiency judgment from the lender?
    When the lender sells your loan at a discount, they are waiving their rights to any deficiency and therefore can't come after you for any deficiency. At the time that Bella Homes purchases the mortgage, there cannot be a deficiency judgment because the bank has the right to sell the mortgage, which is an asset. If they decide to sell this mortgage without the consent or agreement of the party on the mortgage, then the party on the mortgage cannot be liable for a deficiency because they are not involved in that agreement. You see deficiency judgments happen quite often in a short sale because the homeowner, who is also on the mortgage, is agreeing to sell the property for less than the mortgage amount. Therefore unless waived you will typically receive a deficiency judgment. Most lenders will not waive that issue, and keep in mind that after Bella Homes buys that mortgage they will reclassify it on their credit file as zero balance and paid as agreed. By Bella Homes purchasing that mortgage they are taking ownership of that document which will eventually be turned over to the homeowner marked zero balance. Also, at the time that Bella Homes does purchase the mortgage it will obtain a letter from the lender that they cannot, and will not serve a deficiency judgment.

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    57. What is the consideration to the owner during the Bella Homes closing?
    At the time of the closing, the seller receives various types of consideration. The first, is that Bella enters into a lease agreement with the seller, and that lease agreement gives the seller the exclusive right to use and posses the house throughout the course of the lease. The seller also receives as additional consideration a credit toward ultimate purchase of the house (60% of all lease payments made). Even more important than the lease agreement is the option agreement that is signed by Bella and the seller at closing. The option agreement gives the seller the exclusive right to purchase a property at the end of the 3 yr period of time. This is a very strong property right that accrues to the seller. The option agreement is not only signed as a legal and enforceable contract at the time of closing, but a memorandum of that option agreement is recorded in the court house records along with the deed.

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    58. What happens if I miss any lease payments?
    If as a tenant you miss some payments as part of the rental agreement, you are technically in default of the lease. However, Bella will send regular notices if you are behind, and will give opportunity to make up those lease payments. More importantly, if you are behind on your lease payments, you would be losing money that would otherwise be applied toward the purchase of the house 3 years later. So it's important to keep those lease payments current.

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    59. What if I can't afford my lease payments anymore?
    Bella has a couple of options. Under the lease agreement, they could file for an eviction (has never done this to date - because the purpose it to keep you in your house). They could also unwind the transaction with you and simply deed the house back to you.

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    Can a Lender Sue a Borrower for a Deficiency Judgment if the Lender is Still Owed Money After a Foreclosure Sale in Texas?

    A Texas lender is allowed to sue a borrower for a deficiency judgment if the loan is not paid in full with the proceeds of a foreclosure sale. However, the amount that the lender can recover is limited to the difference between the amount owed and the fair market value of the property as determined by a property appraisal.
    So, if Bella can't strong arm the mortgage company into selling for pennies on the dollar the original owner / borrower will indeed risk getting socked with a deficiency judgment as the house then goes into foreclosure.

    Bella is not completely stupid. It would cost them money to evict you. It would be much cheaper for them just to deed back the then delinquent property. Bella has 3 months non-refundable rent or more and the mortgage company has not been paid for months. What help is that to the desperate homeowner???

    Soapboxmom

  7. #32
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    I have looked at a few of these "deals" from various angles and the homeowner almost always gets "it" without the benefit of lubricant. The thing that ALWAYS must be remembered is: if the note holder hasn't released you from the note IN WRITING, you are stuck for the note irregardless of whatever agreement you have with Bella or anyone else! You may have a cause of action against Bella, but if you can't afford your mortgage, you likely can't afford a retainer.
    It seems like in this "industry" common sense is not all that common!

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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    Quote Originally Posted by Bella Homes
    59. What if I can't afford my lease payments anymore?
    Bella has a couple of options. Under the lease agreement, they could file for an eviction (has never done this to date - because the purpose it to keep you in your house).

    They
    COULD also unwind the transaction with you and simply deed the house back to you.

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    NOTE: "COULD" not "WILL"

    They "COULD" also tell you to bugger off

    People would be better off buying a Lotto ticket at 10,000,000 to 1 odds than bet Bella Homes would simply sign your note back over to you and walk away.

    As if betting a few dollars on HYIP ponzi game admins being honest isn't bad enough, now they want you to bet your house on Bella Homes being ethical and honest.
    The only thing necessary for the triumph of evil is for good men to do nothing

  9. #34
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    Quote Originally Posted by laidback View Post
    I have looked at a few of these "deals" from various angles and the homeowner almost always gets "it" without the benefit of lubricant. The thing that ALWAYS must be remembered is: if the note holder hasn't released you from the note IN WRITING, you are stuck for the note irregardless of whatever agreement you have with Bella or anyone else! You may have a cause of action against Bella, but if you can't afford your mortgage, you likely can't afford a retainer.
    I was thinking the same thing. The distressed homeowner might have a case against Bella for damages. How can Bella legally rent out your property to you or anyone else if they don't already own it??? The homeowner's name(s) are on that note and they are still legally and financially on the hook despite some silly lease agreement signed with Bella.

    Soapboxmom

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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    Quote Originally Posted by Bella Homes
    What is an example of one of the strategies Bella Homes uses?
    One of the steps we take with each file is to have a forensic review conducted of the client's mortgage documents.
    With the growing number these mortgage rescue companies and the amount of foreclosures being undertaken, what is the percentage of "flawed" mortgage documents being found during these "forensic examinations" ??

    If people have their homes on the line, isn't it only fair Bella Homes provides the information as to how successful "forensic reviews" are ??

    Why does the FTC find it necessary to issue a warning to homeowners about these examinations:

    The "Forensic Audit"

    In exchange for an upfront fee, so-called forensic loan "auditors," mortgage loan "auditors," or foreclosure prevention "auditors"
    offer to have an attorney or other expert review your mortgage documents to determine if your lender complied with the law.
    The "auditors" say you can use their report to avoid foreclosure, speed the loan modification process, reduce what you owe,
    or even cancel your loan. In fact, there's no evidence that forensic loan audits will help you get a loan modification or any other mortgage relief.
    Where's the evidence, Mr Bella Homes ??

    Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich
    The only thing necessary for the triumph of evil is for good men to do nothing

  11. #36
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    68. How fast can I get into the Bella program?
    Typically you can get into the Bella program with 7-10 days after you have signed the pre-sale agreement.

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    69. Where does the closing take place?
    As client, you have the option to have the closing take place, at your home, your business, or an attorney's office if you prefer.

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    70. Are there any fees included in my closing cost?
    Bella Homes will be responsible for paying the costs of the closing attorney, and all costs of the closing. However, if the client decides to retain their own lawyer for the closing, then the client would pay the costs for that attorney.

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    71. Is the amount due at closing on my presale agreement the exact amount I will be paying at closing?
    The presale agreement is a very close estimate of what you will be paying at closing. The only variation you may see is going to be based upon the day you close during the month, because the 1st month's rent is prorated.

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    72. When is my deed recorded?
    After closing the deed you have signed to convey ownership to to Bella will be recorded with 15-30 days following the date of closing. That will also be the date on which the Memorandum of Option to Purchase will be recorded as well.

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    73. Can I give my exclusive right to re-purchase to one of my kids?
    Yes, your rights to repurchase the house under the option agreement can be transferred to a family member.

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    74. Who takes care of maintenance, or any repairs that need to be done on my property?
    Each home is leased to the tenant on as-is basis. Tenant is typically responsible for any repairs that need to be made. However, if the tenant makes any repairs that run more than $1000, and reports those costs to Bella, Bella will consider that a capital improvement in the home, and at the time the house is resold to the tenant, the tenant will get credit for that expense off the sales price.

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    75. Can I file a bankruptcy after I have entered into the Bella program?
    Yes you can. However, Bella recommends you speak to a bankruptcy lawyer to see if it is advisable for you to do so.

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    76. What day is my rent due?
    Your first rental payment will be due on the 1st or 15th day of the month depending on which day you close.

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    77. What do I do if I have a real estate listing on my home?
    If you have a real estate listing agreement on your home prior to entering the Bella program, you will have to cancel that agreement before you join the Bella program, and we would refer you to the listing agreement to see exactly how you should go about doing that.

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    Here is the rest of Bella's Q & A. Now, that we have them pinned down on what they are purporting to do we can look at the court papers and other public record and determine if that is in fact happening.

    Declaring bankruptcy after signing with Bella could prove quite interesting. It is very complex. Bella would probably have to evict the tenant / former owner. That could be very costly and time consuming. Fascinating!

    Soapboxmom

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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    Now this borders on absurd! Rather than pay a "forensic auditor" big bucks to find out your loan is legal, buy the software for $39 and do it yourself! Forensic Loan Audits Steps, Loan Auditing Steps: Forensic Loan Software I have seen some of these so-called auditor throw around all sort of stats about the percentage of loan that are supposedly illegal, but, as with all scams nothing is verifiable...! Remember, folks, just because you quitclaim your property to someone, it still does not release you from responsibility to the lender! YOU are the one that owes them the money! When I see these things, I always think of the acronym TANSTAAFL! (There Ain't No Such Thing As A Free Lunch)
    It seems like in this "industry" common sense is not all that common!

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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    The following court document sure proves what a disaster quitclaiming one's home to Bella is. All Bella's wild claims and antics are getting them simply laughed out of court.

    The Plaintiffs' attorney (presumably Bella's flunky) seemed to know what a joke the filing in this case was an didn't even bother to respond to the Defendants' Motion to Dismiss. The Court explains that an original complaint "must contain sufficient factual matter, accepted as true, to "state a claim that is plausible on its face.'" So, as we shall see Bella's claims are a heaping pile of dung and not even plausible in most if not all instances.

    Every claim is dismissed by the court starting with the claim for declaratory relief stating the Defendants had no right to foreclose. Then the claim for rescission of the loan based on an illusory promise is dismissed. The claim for rescission of the loan under the Georgia Fair Lending Act is also dismissed. Next, the claim for contractual breach of good faith and fair dealing is dismissed. Following, the claim for rescission under Fraudulent Concealment, Deceptive Acts and Practices is dismissed. Claims of unconscionability and predatory lending are dismissed as well. The claim for quiet title is dismissed as is the one for failure to comply with state statutes. The claim for conversion or illegal attempt to convert and fraudulent misrepresentation, promissory estoppel is dismissed. Finally, the claims for injunctive relief against foreclosure and a TRO (temporary restraining order) are denied.

    Bella's client is thrown out of court on his ear. The Court says, "Ultimately, Plaintiffs' 'threadbare conclusions' and 'naked' assertions' do not survive the 12(b)(6) standard and are at best speculative." Ouch!!!!

    Bella's program is dishonest and basically bogus and many homeowner's and representatives will regret getting involved.

    Bella Homes 2.pdf

    Soapboxmom

  14. #39
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    I just wanted to comment on a couple of things:
    1). I have a real estate back ground and am 100% sure that unless a judge is on crack at the time of decision - the 2009 Tenants Act DOES NOT apply for eviction protection in the Bella model (and I say that with conviction). Reason is: Bella will have a previous relationship with the tenant such that the tenant will have just deeded the property over to Bella - which concretely establishes a PRE-EXISTING RELATIONSHIP. THAT action in-of-itself wipes out any ability to point to the 2009 Tenants Act as it is now NOT an Arm's Length Lease/Tenancy (which is required for the 2009 Tenants Act to apply). (Note: for those who would like to know..... the 2009 Tenants Act protects Bona Fide Tenants from being evicted during a landlord's foreclosure for the duration of the pre-established lease- which I actually wholeheartedly support).
    2). To address another comment I read on this post - Bella does have a legal "right" to lease the property back to the tenant because they require the old owner to deed the property over to Bella at the beginning of "signing up" which makes Bella the new rightful owner. It is the desperation of the distressed homeowner that makes this whole scam work. But again - In the Bella model to fight the lender's rights of eviction/right of possession from a foreclosure using the 2009 Tenants Act is just pure baloney. Now - I was thinking about how Bella could really make a crap-load of money and that would be for Bella to figure out a way to "evict" the old owner (the current tenant) and put a NON related tenant into the home - THEN Bella could possibly hit a home run and tie up the property in courts using the 2009 Tenants Act (would now be an Arm's Length relationship) to continue to receive lease payments on that property until the lease expires (3 years++????). OF COURSE the victim here is the original owner who will have their lender racking up fines and legal fees on the loan that THEY ARE and will continue to be responsible for. I'm pointing this out to WARN any and ALL prospective Bella clients that if Bella actually hires an intelligent attorney and figures this out - by handing over the deed to the property while still being responsible for the loan - puts you in the worst possible place of leverage and security. The simple solution to it is: DON'T DO IT!!!!
    (P.s. the process of taking ownership of a property without being responsible for the existing lien(s) is called "subject to" or a "wrap". This is a LEGAL process where the seller of a home has the ability to willingly deed/sell their property to a buyer such that the old owner is still responsible for the loans on the property. The reason that folks would actually do this <outside of Bella> is if they are having a rough time selling their property - they WANT OUT - and the interested buyer doesn't have the ability to qualify for a loan. Generally there are provisions in that sort of sale that will establish that the new owner will "buy out" the ex-owner through a refi within a couple/few years once their credit (or income) makes it possible to qualify for their own loan to pay off the existing loans. Plus the new owner generally is responsible for making monthly payments to the ex-owner (through a recorded note) such that the ex owner retains foreclosure rights if the new owner doesn't make payments. Bella is taking this "subject to" or "wrap" sale procedure to another level, and certainly are NOT making payments to the ex-owner/lender(s) and is benefiting from it's loose real estate "legal" status).
    3). For my last comment, I'd like to bring discussion about the elephant in the room - and that is: I am 100% convinced that Bella has no such financial backers ("investors") that they claim they do. For an investor to buy into this program (put up their hard earned $$$) they would have to be convinced that Bella is A). on the up and up (has anyone done research on the corporate folks of Bella???? Y-I-K-E-S!!!! and B). that they will be assured a return of their principal. The feature where Bella does not actively offer any of their clients the right to repurchase their home before at least 3-5 years leaves ALL investors exposed to the uncertainty of the markets. So let's say if Bella is able (LAUGH) to purchase a note on a property that has a current value of $150,000 for, say, $100,000. In 3 years if the home is worth $90,000 (very possible) that investor has just taken a bath on their investment. Do you REALLY think any investor would buy into this sort of uncertainty?? Personally I believe, to call a spade a spade, there hasn't been and won't be any attempts at purchasing notes. The entire scam is to earn reseller monthly fees and monthly lease payments from the gullible resellers and the poor distressed homeowners. I don't remember which Q&A number it is but they absolutely have their ducks in a row and even DISCLOSE that for those clients Bella is unable to succeed in buying the note (LAUGH again) - or suing their pants off (can anyone say boilerplate non-sense??) that Bella will simply deed the property back to the ex-owner for the ex-owner to then deal with the lender(s) and foreclosure. I believe 100% that this clause will apply to ALL BELLA clients...............
    I personally corresponded with an ex-Bella client who was actively facing foreclosure - and her realization that Bella's plan to skim lease payments from her was indeed the plan from day 1 was when she asked Bella for ANY proof that they had done ANYTHING since her lease payments began. The response from Bella? Silence. No return calls - no faxes, no emails. THAT in-of-itself proves to me with little doubt that our suspicions are valid that this program is simply a plan to play on distressed homeowners desperation and collect monthly resellers fees (nice MLM set up...huh???) and monthly lease payments.
    I am with Soapboxmom that the more we write about it - the more likely the overwhelmed FTC / FBI might take a peek at this mess. Unfortunately, the reality of it - is that they are SO overwhelmed with scams like this that it could take a year or two before they can get staff to take a peek. Let's keep up the pressure and keep the points being made so that until they are stopped that we might, at a bare minimum, reach a handful of those distressed homeowners and warn them to RUN AWAY!!!!

  15. #40
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    To add to Sharon's post, evicting the original homeowner will not grant protection under the Act. It would still be a document that was put in place during the foreclosure period, not that it would stop Bella from attempting to do so and collect more rent anyway. They would have to have control of the property and a true tenant in place way before the process even begins to attempt this. The potential issue with that is once Bella ultimately fails and deeds the property back to the owner (assuming they will do so without issue) the homeowner now has to deal with a tenant they do not have a lease claim to on top of everything else the foreclosure process brings. One of the bigger things to point out is that Bella actually needs the homeowner(s), at least initially. The reason being is that Bella is not a party to the mortgage or note (read:contract), and therefore cannot bring action on a contract they are not a party to. Simply being a deed interest holder does not give the right to bring action on the mortgage. In a few of these suits, the opposing counsel points out that Bella does not have standing to even be in the court. To date, I have not seen anything filed in the cases that gives Bella the right to sue on behalf of the homeowners, select counsel, or anything like that. It would be interesting to see the retainer agreement in one of these cases just for that.

  16. #41
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    OK - this should be REALLY interesting....as per the original topic of this thread - there is a new posting on Scam.com that actually has some of the original posters from the 9/27/11 Bella Homes, LLC thread that was taken down by George (??). Curious to see how long this new post lasts??? Also, I see that just as you pointed out - some Bella resellers are paying George for Banner posting on Scam.com....good lord!!

    Curious note: After I "complained" to the "admin" on Scam.com that the 9/27/11 Bella thread was taken down, I stupidly also tried to register so that I could post a new thread on Bella - my registration approval never arrived....lol ..big smile. I think I'll stick to this site from here on out any how!....

    Thanks again Soapboxmom!

  17. #42
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    Thanks to Magic Muffin and Sharon for the excellent points.

    MLM products are usually overhyped and overpriced. These MLM products, such as they are, are sold MLM style as they cannot compete in a real world market place and be retailed. This Bella program is a shining example of something that is perfect for the slimeball heavy hitters in MLM. Bella is counting on the MLM pyramid promoters to bring in legions of unsuspecting sheep to the program. The program certainly can't stand on its own with the obvious questions surrounding it, but experienced MLM promoters can sell anything no matter how worthless. RUN AWAY is the best option to be sure!!!!

    Lots more court docs are on their way up!

    Soapboxmom

  18. #43
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    Let's give Bella Homes a little coal in their stocking:

    Bella Lasiter 1.pdf

    Bella Lassiter 2.pdf

    Lassiter 3.pdf

    Lassiter 4.pdf

    Bella Lassiter 3.pdf

    Notice the Plaintiff's responses which pointed out the obvious. Bella's filings are said to be rambling and nonsensical and the pleadings are described as fatal. Bella is getting laughed out of court again. Bella is taking the route of filing obviously losing litigation in hopes of spending the opposition into acquiescing to their totally unreasonable demands. They throw out numerous darts (allegations that can't possibly be substantiated or ever hope to fly and are often totally nonsensical to boot) hoping something might stick and the opponent will cave in. They should be sanctioned and have these frivolous garbage filings turned around on them. Bella is clogging up already totally overwhelmed courts that should be addressing legitimate filings instead of this drivel.

    Folks should demand Bella publish its successful forays in court and standing restraining orders, injunctions and the like against any bank or mortgage company. I would bet the talk of litigation will be disappearing from the Bella websites and videos very soon!

    Soapboxmom

  19. #44
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich




    Stop Foreclosures- Lease Buy Backs -Slash Payment 50% #81


    Apply Now Fort Worth






    Job Description:

    Help people save their homes from foreclosure with a one of a kind lease buy back that reduces the payment by 50% and 60% of lease payment will go towards their equity (mortgages pay nowhere near that to the equity%) and the client has a lease period of 3 to 5 to 7 years (their choice) and a 90% of market value guaranteed buy back at 1% above prime by lease holder at the end of the lease period. . 90% approved!! win/win/win situation. Email for details. Sales reps can make 3k range and there are no upfront fees to the sales rep or the clients. We pay you 50% of what we make and there is no recruiting involved in this job. You work for a direct distributor who provides leads to call. It only takes 2 weeks for approvals and then you are paid...This new program will prevent families from foreclosures in 49 states! No license required. Email us for details please and we will send you to the website with the various webinars.


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    Job Posting | Avoiding Job Scams | Privacy Policy
    Bella has boatlaods of these dishonest job postings up all over the net. This is MLM crap and those reps could be held legally liable for the representations (read misrepresentations) they make about Bella and what it purports to do for the homeowner. Bella will make a very feeble effort and may in some instances prevent foreclosures is a lot closer to the truth!

    Soapboxmom

  20. #45
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    If Bella Homes is unable to settle the second mortgage we will transfer the property to one of our subsidiaries and foreclose on ourselves, which will therefore wipe out the second mortgage and any other liens on the property. This is perfectly legal, and is a strategy that Bella Homes attorneys have put in place. Bella Homes will own the home subject to the underlying mortgage. If the tenant exercises their option to purchase the property back, the only way Bella could provide clear title to the property would be if the mortgage has been purchased and any other liens have been removed from the property. With this in mind, up until the time that Bella Homes buys the mortgage from the lender, and wipes out any of the liens on the property, Bella Homes ownership of the property is subject to the underlying mortgage and/or liens.
    That sure seems fraudulent to me. Transfer the title to a subsidiary (part of your own company basically) for the express purpose of wiping out legitimate second liens and perhaps other liens as well for the express purpose of reselling the property back to the original owner. That seems to be collusion with the original owner to defraud the banks out of thousands and then return the property to that original owner at a substantial discount thanks to these escapades.

    Bella then gets an appraisal and uses that figure to arrive at a 90% of appraised value to resell the property to the original owner that never left. Will the appraisals be artificially inflated to line Bella's pockets, perhaps?

    Soapboxmom

  21. #46
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    Quote Originally Posted by Soapboxmom View Post
    That sure seems fraudulent to me. Transfer the title to a subsidiary (part of your own company basically) for the express purpose of wiping out legitimate second liens and perhaps other liens as well for the express purpose of reselling the property back to the original owner. That seems to be collusion with the original owner to defraud the banks out of thousands and then return the property to that original owner at a substantial discount thanks to these escapades.

    Bella then gets an appraisal and uses that figure to arrive at a 90% of appraised value to resell the property to the original owner that never left. Will the appraisals be artificially inflated to line Bella's pockets, perhaps?

    Soapboxmom
    If someone is desperate enough to utilize their "services" I sure wouldn't advise using an appraiser they recommend!!!
    It seems like in this "industry" common sense is not all that common!

  22. #47
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    Quote Originally Posted by Soapboxmom View Post
    That sure seems fraudulent to me. Transfer the title to a subsidiary (part of your own company basically) for the express purpose of wiping out legitimate second liens and perhaps other liens as well for the express purpose of reselling the property back to the original owner. That seems to be collusion with the original owner to defraud the banks out of thousands and then return the property to that original owner at a substantial discount thanks to these escapades.

    Bella then gets an appraisal and uses that figure to arrive at a 90% of appraised value to resell the property to the original owner that never left. Will the appraisals be artificially inflated to line Bella's pockets, perhaps?

    Soapboxmom
    I don't understand how they would be able to hand it off to a subsidiary if they can't pay the second mortgage themselves. If they can't pay it, how would they even get possession of the property? They make it seem like the original mortgage holder doesn't even exist and they can do as they please.

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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    Quote Originally Posted by Soapboxmom View Post
    That sure seems fraudulent to me. Transfer the title to a subsidiary (part of your own company basically) for the express purpose of wiping out legitimate second liens and perhaps other liens as well for the express purpose of reselling the property back to the original owner. That seems to be collusion with the original owner to defraud the banks out of thousands and then return the property to that original owner at a substantial discount thanks to these escapades.

    Bella then gets an appraisal and uses that figure to arrive at a 90% of appraised value to resell the property to the original owner that never left. Will the appraisals be artificially inflated to line Bella's pockets, perhaps?

    Soapboxmom
    SBM,

    It is not necessarily fraudulent in the sense that it can be done. Usually what you would see it that entity I is the holder/servicer/etc of the note/mortgage, and in a situation where it makes sense, entity I will foreclose and friendly entity II will bid at the sale and hold interest through the redemption period where applicable. Or, entity I will sell the loan portfolio to friendly entity II for the specific purpose of foreclosing.

    However, this is not what Bella is doing, for example:

    - In the event that Bella convinces the note/mortgage holder/servicer/etc to sell it short in a short sale, there is nothing to foreclose on as the mortgage is extinguished once the short sale is completed. If Bella financed this purchase with another loan or private funding and it is secured with the property, they are now at the back of the line as far as loan positioning goes. Loan #1 is now gone VIA the short sale and now all junior liens move up one place. I.E. the 2nd is now 1st, 3rd is now 2nd, etc, with the newest lien is last place. Bella can foreclose that position all they want and actually foreclose the owner(s) out, but all senior liens will remain intact. Basically, it is a foreclosure subject to all senior debt.

    - From their stated process, Bella takes possession VIA quit claim deed and are now the title owners of the property. From some miracle Bella actually gets the note/loan/mortgage holder/servicer/etc to sell the position in a one off transaction. Well, now they are screwed. By holding title to the property from the deed and then taking ownership of the debt, they have now merged their interests and now have a worthless mortgage/note/whatever that cannot be foreclosed on. The only way around this is if there was specific anti-merger in the mortgage stating it would survive any merger of interests, which is a VERY specific thing. That is why a Deed In Lieu of Foreclosure does not allow the mortgagor to pursue a deficiency judgment in most cases.

    Now again, this also assumes the 2nd mortgage (or any other jr. liens) do not decide to redeem their interest and payoff Bella, in which case EVERYTHING the Bella program is based on is thrown out the window. From the Q&A on the Bella page, you could reasonably assume that if this happens, Bella will not step up and redeem out the homeowners interest VIA the deed to keep the home. If the original homeowners somehow now have the money to do so, they cannot as they no longer have a right to do so since they signed their interest over to Bella. Which means the homeowners are reliant on Bella deeding back the house in a timely enough manner for them to be able to do something. Given how restrictive the timelines are in some states and the strict cutoffs to file paper work, I doubt it will happen.

    In either case the homeowner(s) lose.

    As far as the appraisal goes, they state (and referenced in your previous post), they operate in 49 states. Most obviously the one state they are not doing business in is California. This is mainly due to their program being illegal in CA because of the restrictions on sales and leasebacks back to the original homeowners. So we will not use CA as an example, but we can use LA, MN, ID, WA, OR or any other given state in which they do not know the law...... despite having the best legal minds in the industry at their disposal. In OR an MN for example, in a sale/leaseback to the original homeowner, you are capped at 12% profit over your money invested, meaning no matter the appraisal, 88% has to go back to the homeowner. So, if everything works perfectly, and they get a $200k house for $100k, and 3 years later is appraises for $150k due to continued downward trending the market. Bella gets it's $100k back, plus 12% of the profit, or in this case, $6,000.00. Granted this is simple numbers for the sake of example, but it still applies.

    Are you telling me that any investor is going to tie up $100k of capital for a simple 4% per year return on investment? To me, this is another example of where the Bella plan falls apart. There is not a hedge fund around that will sacrifice their typical 15% to 21% return needed to put their money in play for this. Not to mention the deep probe background check needed to do business with theses entities would immediately eliminate them because of the loosest association with Delpiano, a convicted felon of financial crimes. You would think with the best real estate legal minds in the nation helping them, they would know which states they can safely operate in. But since they don't, their business model is more akin to "let's do it anyway until the State AG tells us to stop" model.

    I honestly don't understand how they have even gotten this far?

    MM

  24. #49
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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    Thank you for the explanation. I have no mortgage / financial background. What is obvious to us neophytes is that this is all very complex and the laws vary from state to state. The most telling issue is the court docs. Those make it quite clear Bella doesn't have a leg to stand on with most of the issues they are raising. In the end I think you hit the nail on the head. The original homeowner will lose.

    More court docs will be forthcoming!

    Soapboxmom

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    Re: Bella Homes / George Dranichak / Scam.com / Sviat / Vladimir Sviatoslavich

    Quote Originally Posted by Magic_Muffin View Post
    SBM,

    It is not necessarily fraudulent in the sense that it can be done. Usually what you would see it that entity I is the holder/servicer/etc of the note/mortgage, and in a situation where it makes sense, entity I will foreclose and friendly entity II will bid at the sale and hold interest through the redemption period where applicable. Or, entity I will sell the loan portfolio to friendly entity II for the specific purpose of foreclosing.

    However, this is not what Bella is doing, for example:

    - In the event that Bella convinces the note/mortgage holder/servicer/etc to sell it short in a short sale, there is nothing to foreclose on as the mortgage is extinguished once the short sale is completed. If Bella financed this purchase with another loan or private funding and it is secured with the property, they are now at the back of the line as far as loan positioning goes. Loan #1 is now gone VIA the short sale and now all junior liens move up one place. I.E. the 2nd is now 1st, 3rd is now 2nd, etc, with the newest lien is last place. Bella can foreclose that position all they want and actually foreclose the owner(s) out, but all senior liens will remain intact. Basically, it is a foreclosure subject to all senior debt.

    - From their stated process, Bella takes possession VIA quit claim deed and are now the title owners of the property. From some miracle Bella actually gets the note/loan/mortgage holder/servicer/etc to sell the position in a one off transaction. Well, now they are screwed. By holding title to the property from the deed and then taking ownership of the debt, they have now merged their interests and now have a worthless mortgage/note/whatever that cannot be foreclosed on. The only way around this is if there was specific anti-merger in the mortgage stating it would survive any merger of interests, which is a VERY specific thing. That is why a Deed In Lieu of Foreclosure does not allow the mortgagor to pursue a deficiency judgment in most cases.

    Now again, this also assumes the 2nd mortgage (or any other jr. liens) do not decide to redeem their interest and payoff Bella, in which case EVERYTHING the Bella program is based on is thrown out the window. From the Q&A on the Bella page, you could reasonably assume that if this happens, Bella will not step up and redeem out the homeowners interest VIA the deed to keep the home. If the original homeowners somehow now have the money to do so, they cannot as they no longer have a right to do so since they signed their interest over to Bella. Which means the homeowners are reliant on Bella deeding back the house in a timely enough manner for them to be able to do something. Given how restrictive the timelines are in some states and the strict cutoffs to file paper work, I doubt it will happen.

    In either case the homeowner(s) lose.


    I honestly don't understand how they have even gotten this far?

    MM
    Hi MM - you shared something above that I didn't know.....and that is: you say that if Bella is the owner of the deed (through a Grant deed or Quit Claim) that if they then subsequently purchase the 1st note on the property (laugh) that they are in conflict of something called a "merged note" and can now not foreclose on that note????? And you go on to say it is then thus "worthless"?? I take it you are saying that they can NOT transfer the ownership of the property to a subsidiary (as they've outlined they planned to do) and proceed with a foreclosure??? (Clearly they can't foreclose on themselves but if they transfer ownership to a subsidiary I would think this would have worked???). The process they outlined actually made sense to me (presuming they were able to buy the one-off note for cents on the dollar in the first place) until you mention this "merger" issue??? As I say, I've never heard of this before. Why couldn't they transfer the ownership of the property to a subsidiary (no longer a "merged" note????) and then have Bella foreclose on the 1st note that they purchased which the subsidiary is now not making payments on?? Wouldn't this avoid this "merger of interests" issue that you mention above??

    I know that Bella (as outlined) never did nor never has stated that they would pursue a short sale as that structure won't work as you outlined above - but they DID outline that they would buy the 1st note at cents on the dollar which would preserve it's recordation order with the 2nd. What I did not know was that all states disallow the owner of the deed from purchasing the note unless there is "anti merger" verbiage (which sounds rather obscure?????). Can you elaborate for me where I can find more information on this topic which, to me, essentially nullifies their ENTIRE game plan (which, by the way, is not surprising to me at all but I'd be interested to learn more).
    Thank you very much!

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