November 24, 2008

Federal District Judge Opinion exactly on Point Regarding Double Liability of Borrower: Separation of Mortgage and Note

940 F.Supp. 512) United States District Court, E.D. New York. [11] This Court must apply New Mexico substantive law because the Modification Agreement provides that New Mexico law will govern any dispute arising thereunder. See Compl.Ex. E P 27, at 23.  In this regard, “[f]ederal courts sitting  in diversity cases will, of course, apply the …

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Citigroup et al Bailouts Present Additional Defenses Againsts Collection of Virtually Any Debt

Think about it. You are a taxpayer and your tax dollars are absorbing the “losses” associated with write-offs of your debts (mortgage, credit card, auto-loan, student loan etc.) whether you pay or not! The reason for the toxicity of those assets the government is eating up is NOT because of defaults, it is because the …

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