CHICAGO, IL, February 19, 2012
/24-7PressRelease/ -- According to financial expert and homeowner advocate Joe Aldeguer, even the slightest irregularity in a home mortgage or deed transference can cause serious legal issues for a homeowner. A high percentage of documents recently examined by the Cook County (Illinois) Recorder of Deeds found evidence of fraud, reports Aldeguer.
Most prevalent, says Joe Aldeguer, are false signatures/robo-signing on various documents completed throughout the home loan transfer process. Additionally, notary fraud and backdated paperwork are frequently noted, with little or no attempt at hiding the blatant misconduct. The biggest issue that arises is a "cloud on title," explains Joe Aldeguer. In order for a bank to foreclose on a home or for a homeowner to sell the home, the title and supporting paperwork must be free and clear. This means that all of the paperwork in association with previous transfers of the property must have been executed with precision, following all legal steps, says Joe Aldeguer. A property with a cloud on the title can significantly decrease the home's value and marketability.
Joe Aldeguer says that it's time to fight back. All homeowners, especially those who financed their mortgage with large financial institutions between 2001 and 2008 and who are now facing bankruptcy or foreclosure, are encouraged to attend February's first-in-a-series of free seminars presented by Joe Aldeguer. It's important to note that in 2006, 20% of all US mortgages were originated by Countrywide and then bundled and sold - in bulk - to any one of thousands of Wall Street mortgage-backed securities. Joe Aldeguer says that after Bank of America acquired Countrywide in 2008, routine audits of documents revealed that an astounding number of mortgages were not properly conveyed to Bank of America or their respective trusts.
Throughout the rest of 2012, says Joe Aldeguer, homeowners can attend any of these free seminars for a crash course on topics ranging from foreclosure, bankruptcy, and strategic default to the Countrywide/Bank of America document scandal. The seminars will be held the first Saturday of every month and will spotlight real estate and mortgage experts with pragmatic advice on how to stay above water as the housing crisis plays out over the course of the next few years, reports Joe Aldeguer.
Currently, it is estimated that the average homeowner is nearly 22% "underwater" on their mortgage, reports Joe Aldeguer. Additionally, as families rely more and more on credit cards and unsecured loans to survive from week to week, many people see no way to dig themselves out of the financial crisis. That's why these seminars and workshops are so important now, says Aldeguer. He says that the seminars are aimed to help as many homeowners as possible find a legal recourse to stay in their homes when foreclosure is staring them in the face.
According to Joe Aldeguer, any Illinois homeowner is eligible to sign up and attend the free workshops Aldeguer says that homeowners will be given access to foreclosure and bankruptcy attorneys who will be more than happy to answer questions they may have. For more information, call the Oakbrook owner advocacy center office at 630-338-0100.
Chicago-based Joe Aldeguer counts more than twenty-five years experience as a real estate investor and professional, as well as serving as a consumer/homeowner advocate. Nationally recognized as a financial and real estate industry expert, Joe Aldeguer hosted several highly rated syndicated television and radio shows at the height of the country's real estate boom (2004-2008). His ABC/WLS Chicago radio show, Making Money With Joe Aldeguer, offered Joe Aldeguer's weekend audience thoughtful and experienced financial and real estate related advice. Joe Aldeguer also hosted financial talk shows on ESPN/Chicago, KABC Los Angeles, CBS/KLSX Los Angeles, ABC/KGO Hawaii and ABC/KKFI San Francisco.
Joe Aldeguer began his career and first made a name for himself as a commodity futures broker/trader. After earning his Series 3 License in 1988, Joe Aldeguer was a successful commodity futures broker and trader - making money for his clients by buying and selling commodities such and gold and crude oil and stock market index. Because of his global business instincts, he specialized in foreign currencies.
In early 1990, his investment interest quickly turned to real estate as the country's real estate market began to explode. Before he turned eighteen, Joe Aldeguer purchased his first investment property. But it was his savvy market timing that led him to form one of the country's largest mortgage brokerage firms in 1993 long before the real estate boom became obvious to others.
At age 26, he started The Mortgage Exchange - a suburban Chicago firm that employed, at its apex, more than 350 mortgage loan officers who together closed more than $10 billion loan business over an impressive 16-year period. This accomplishment earned him Business Man of the year in 2002 and he was later featured on the cover of the NY Times Business section in 2005. Joe Aldeguer's firm was nominated as Mortgage Company of the Year in 2002. The collapse of Lehman Brothers with over $600 billion in assets in 2008 short-circuited his successful mortgage business as well as hundreds of mortgage brokers across the country in September 2008.
As his real estate experience expanded, so did Joe Aldeguer's portfolio of successful business endeavors. In 2006, Joe Aldeguer contacted former Chicago Bears' coach Mike Ditka about an opportunity to launch the Mike Ditka resort concept that can still be seen today on YouTube.com. Because of Mike Ditka huge following across America, Joe Aldeguer knew instinctively that by attaching Ditka's name to a hotel, visitors to the Orlando area would associate great value to his real estate property. Within 24 months, Joe Aldeguer scored another success. The property was voted the number one family resort by Expedia in the Orlando/Disney World area which forever stamped his savvy business blueprint in the minds of high net worth individuals he meets everyday.
Today, Joe Aldeguer has his guiding hand on many business ventures and oversees the operations of several firms from real estate development firms, financial advisory, consumer/homeowner advocate groups and charitable organizations.
Following the success of the Mike Ditka properties, Joe Aldeguer set his sights on developing his own hotel brand. Today, Joe Aldeguer is in the process of developing hotels in Asia and the Caribbean. His treasured property located in Punta Cana, Dominican Republic is Cana Pearl -- where Bali Luxury meets the Caribbean. Punta Cana hugs the eastern-most tip of the Dominican Republic and is the number one tourist destination in the Caribbean. More than 4 million travelers visit the Dominican Republic annually, twice that of any Caribbean destination.
During the current economic financial crisis back in America's heartland, Joe Aldeguer's desire and goal is to give homeowners a fresh start strategy to those underwater on their mortgage at Homeowner Advocates. According to zillow.com, one out of every five homeowners is underwater so Joe Aldeguer's own personal experience and rich real estate counsel is timely. The essence of his unique fresh start strategy enables troubled homeowners under foreclosure or in bankruptcy to become credit eligible for an FHA loan in 24 months.
Joe Aldeguer's charitable contribution and community reach is also noteworthy. In 2010, Joe Aldeguer received Man of the Year honors (Outstanding In Business) because of his unique ability to promote a positive image of the Filipino in Chicago and globally. The Chicago Filipino American Hall of Fame recognizes the best achievements among Filipino Americans.
To celebrate the 20th Anniversary of Chicago and Mexico City's Sister City relationship, Joe Aldeguer was invited to join a select delegation of dignitaries on Volaris Airlines' inaugural flight from Chicago to Mexico City on November 4, 2011. Joe Aldeguer's selection was based upon his ongoing commitment to connect families and businesses between two international cities.
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