What Is BAR ?
BAR (Patent Pending) was developed over two years through first-hand experience with assisting struggling homeowners, facilitated through Operation Reach 1 Inc. Through our doors came every level of challenge to homeowner retention which included foreclosure and eviction. Software to identify homeowners who are at risk of foreclosure would prove to be necessary in order to capture a wide range of homeowners and their difficulties in maintaining homeownership.
Operation Reach 1 Inc. was one of the first housing advocates to successfully rescind a number of foreclosures due to named errors and violations which occurred through the servicing and foreclosure process of the homeowner.
The majority of borrowers at risk of foreclosure has not fully grasped their circumstances and find it difficult to articulate
Those errors or bad advice which has brought them either to the doors of foreclosure or through them. The complexity and the level that the housing market crash has posed challenges to the best and most skilled in this area, case in point, The Independent Foreclosure Review, after several months of a fact gathering wherein, the homeowner participated in providing answers to consultants hired directly by the lenders to weed out and identify problems and errors with their perspective foreclosure process as ended with nothing more than a settlement by the lenders. To hand the task of distributing the settlement back to the servicers without any oversight other than what is disbursed by them would be a mistake with harmful consequences to the homeowner who has already been violated. The BAR software includes a tri-effort with the Borrower, Regulator, and the Servicer, Once the borrower has completed their section the Data is downloaded to the appropriate regulator which will include a report that clearly identifies the servicing errors which have occurred to date.
The regulators will then send the servicers their portion of the software to be completed which will provide a full picture, snap-shot of the borrowers servicing history. Moving forward without this information would be an exercise in futility and a waste of tax payers’ money. The BAR software will prevent the relicenses on one singular source for information, BAR will also be available across the Nation, notwithstanding foreclosures laws which differ from State to State, BAR will identify universal servicing errors which occurred prior to foreclosure.
Thousands of Bay Area homeowners are fighting in court to save their homes from a foreclosure system rife with mistakes, mismanagement and even fraud, a joint investigation by the Center for Investigative Reporting and NBC Bay Area has found. Stephen Stock reports. (Original air date: April 25, 2013)ubstituting Bank of America for Masson’s original lender, Indiana-based First Franklin Financial. However, First Franklin was no longer in business at the time.