CREDITWRENCH-TheTruth

Here is some recent advice posted by Creditwrench CEO Billie Bauer to those who might be facing an action in replevin.

"So if you are in foreclosure.....The first thing you need to do is to make as certain as possible that your home is totally secure, otherwise you too can come home to find your home stripped"

Absolute nonsense.

You can't make your home secure enough to remove it from the reach of the mortgage company if they have taken the necessary legal steps to take possession.

Someone doesn't just show up with a u-haul and start moving out your furniture. That's how people get shot. They arrive with the sheriff in tow. The sheriff takes possession of the property by court order and allows the creditor to take whatever steps are necessary to enter the property.

The more "secure" you make your residence, as suggested by Creditwrench CEO Billie Bauer, the more damage will occur during their entrance. But, enter they will....period.

Your state statutes clearly define what steps a creditor must take in an action in replevin, or repossession of real property.

In most states, a creditor must post a bond with the court in an amount equal to or greater than the value of the property they are seeking to take possession of.

If it is later adjudged that their taking possession of the property was not in accordance with local laws, that bond is used to compensate the homeowner for any damages. And statutory damages can run as high as double the value of the property.

So contrary to Creditwrench CEO Billie Bauers false and misleading advice, the first thing you should do when faced with a foreclosure action is to consult legal counsel to ensure your legal rights are protected.